Blink Charging Co Stock Price, News & Analysis

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has announced the installation of 27 new EV charging ports across Traverse City, Michigan, in partnership with Traverse City Light & Power. This initiative, partially funded by a $173,763 grant from the Michigan Department of Environment, aims to enhance the city's electric vehicle infrastructure. The deployment includes three DC fast chargers and 12 dual-port IQ 200 Level 2 stations, designed for current and future EV technology needs. A ribbon-cutting event was held on August 27 to celebrate this milestone.

Blink Charging Co. reported a significant 177% revenue increase for Q2 2021, reaching $4.4 million compared to $1.6 million in Q2 2020. The number of Blink-owned charging stations grew by over 46%, with 3,264 stations contracted or deployed. Revenue from charging services surged 572% year-over-year, driven by increased EV adoption. However, the company recorded a net loss of $13.5 million, up from $3 million in Q2 2020, primarily due to rising administrative costs. The company has also expanded internationally, acquiring Blue Corner N.V. and setting up a European subsidiary.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has secured a five-year agreement with Greenlight Communities, LLC to deploy 58 EV charging stations in multifamily residential properties across the Phoenix metro area. The installations will enhance charging access for EV drivers and are supported by the SRP Business EV Charger Rebate program, offering up to $1,500 per networked Level 2 station. Blink’s fast charging IQ 200 units, recognized by industry experts, will be installed at various Greenlight properties including Cabana Hayden.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) supports the Biden Administration's federal infrastructure package, which allocates $7.5 billion for electric vehicle (EV) infrastructure. CEO Michael D. Farkas emphasizes the importance of deploying Level 2 (L2) charging stations to meet the growing demand as the auto industry shifts to zero-emission vehicles. With over 77,000 L2 chargers in the U.S., Blink argues for a focus on L2 charging as a more economical solution with lower installation costs compared to DC fast chargers. The company also seeks congressional support to enhance EV charging infrastructure and manufacturing opportunities.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has secured a $12.5 million grant from the Florida Department of Environmental Protection to install 52 DC fast chargers across 25 sites along major interstate highways in Florida. This initiative aims to enhance EV charging accessibility for residents and travelers, especially in disaster scenarios. The charging stations will include features like modular battery storage and solar canopies to strengthen the energy grid. Blink's awarded sites represent nearly 80% of the available locations, contributing to the state's resilience and EV infrastructure development.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) will announce its Q2 2021 financial results on August 11, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss results for the quarter ending June 30, 2021. Investors can access the live webcast on the Blink Charging website or via a direct link. To participate by phone, call (844) 369-8770 or (862) 298-0840 internationally. A replay will be available until September 11, 2021, using conference ID: 41878. Blink Charging operates over 30,000 charging ports globally, supporting the growing demand for electric vehicles.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) appointed Carmen Perez-Carlton to its Board of Directors, effective July 20, 2021. She brings extensive experience from her former role as President of FPL FiberNet and her advisory position at Crown Castle. Perez-Carlton will also chair Blink's new Environmental, Social and Governance (ESG) Committee, aiming to enhance the company's focus on sustainability and governance. CEO Michael D. Farkas expressed confidence in her ability to guide Blink's growth in the EV infrastructure sector, as global interest in electric vehicles continues to rise.

TAPCO has announced a partnership with Blink Charging (Nasdaq: BLNK) to distribute its electric vehicle (EV) charging stations, including both installed and portable variants. With over 30,000 charging ports deployed globally, Blink aims to capitalize on the anticipated rise in global EV purchases from 2 million in 2019 to 10 million by 2025. TAPCO will offer various configurations of Blink's AC and DC charging stations, featuring payment options like Google Wallet and Apple Pay. Both companies see this collaboration as a stepping stone towards increased EV adoption.