Welcome to our dedicated page for Blink Charging Co news (Ticker: BLNK), a resource for investors and traders seeking the latest updates and insights on Blink Charging Co stock.
Blink Charging Co. (NASDAQ: BLNK) is an owner, operator, and provider of electric vehicle (EV) charging equipment and services, and it regularly issues news updates that reflect its activity across hardware, software, partnerships, and capital markets. The company’s press releases highlight developments in its EV charging networks, new product launches, strategic contracts, and financial performance.
Readers following BLNK news can expect coverage of agreements with property owners, housing providers, and public sector entities to deploy Level 2 and DC fast charging stations. Recent announcements include collaborations with multifamily residential complexes, social housing organizations, and local councils in the United Kingdom, where Blink Charging UK Ltd. is delivering public charging infrastructure under government-supported programs.
Blink’s news flow also features product and technology updates, such as the launch of its Shasta line of Level 2 chargers for multifamily and fleet markets and the introduction of cryptocurrency payment options using USD Coin (USDC) on networks like Ethereum, Arbitrum, Polygon, and Base at select Blink-owned DC fast charging sites. These updates illustrate how the company combines hardware and network software to address evolving customer requirements and payment preferences.
In addition, Blink regularly reports its quarterly financial results, providing detail on product revenues, service revenues, and other revenues, as well as gross margins and operating expenses. Capital raising activities, including public offerings of common stock and related agreements with placement agents, are also disclosed through press releases and associated SEC filings. For investors and observers, the BLNK news page offers a centralized view of the company’s operational initiatives, partnerships, product evolution, and financing actions over time.
Blink Charging (NASDAQ: BLNK) has secured a significant agreement with Power Design to provide 429 EV charging stations with 723 total plugs across multiple projects nationwide. The installations will primarily serve luxury multifamily apartments and condominiums. Power Design, one of the nation's largest design-build multi-trade contractors, will initially own the charging stations, with ownership transferring to property owners/managers upon installation.
This agreement builds upon a decade-long collaboration between the two companies, with Power Design establishing itself as a leading EV charger installer over the past five years. The partnership aims to enhance EV charging accessibility in residential communities, addressing the growing demand for convenient charging solutions where people live.
Blink Charging (NASDAQ: BLNK) has partnered with Minor Hotels Europe & Americas to install EV charging stations at four NH Hotel locations in Mexico: NH Puebla Centro Histórico, NH Puebla FINSA, NH Querétaro, and NH San Luis Potosí. The initiative, featuring Blink's IQ200 chargers with RFID and app payment options, supports NH Hotels' 'UP for Planet' sustainability program. Under the 'Blink Owned' model, Blink will manage the complete lifecycle of charging stations, from installation to maintenance, enhancing sustainable service offerings while providing convenient charging solutions for hotel guests and visitors.
Blink Charging (NASDAQ: BLNK) has completed the installation of 53 EV charging stations across 12 Tower Management locations in New Jersey. The initiative, supported by the NJ DEP's 'It Pay$ to Plug In' program and additional Volkswagen funding, features Blink's Series 8 Level 2 EV Charging Stations with cloud-based network management. Tower Management aims to enhance sustainable amenities for residents while addressing growing EV infrastructure needs. Blink will manage the entire lifecycle of the charging stations, including installation, operation, and maintenance.
Blink Charging (NASDAQ: BLNK) has announced a strategic roaming agreement with ChargeHub, North America's leading EV roaming hub. The collaboration enables Blink's public EV chargers to be visible and accessible to ChargeHub's network of e-mobility service providers and charge point operators. ChargeHub's Passport app, serving over a million users, can now activate Blink chargers, offering drivers a streamlined payment process through a single account. ChargeHub reports over 150 active roaming connections covering more than two-thirds of networked chargers in the U.S. and Canada. As the third-largest EV charging network in the U.S., Blink's integration aims to enhance charging accessibility and user experience across North America.
Blink Charging reported Q3 2024 total revenues of $25.2 million, down 41.9% from Q3 2023. Service revenues increased 30% to $8.8 million, while product revenues decreased 61.6% to $13.4 million. The company achieved an industry-leading gross margin of 36% in Q3 2024. Operating expenses decreased 21% to $97.3 million compared to Q3 2023. The company has revised its full-year 2024 revenue target to between $125-135 million and expects to achieve positive adjusted EBITDA in H2 2025. Blink surpassed 105,000 chargers contracted, deployed or sold globally since inception.
Blink Charging (NASDAQ: BLNK) has announced the establishment of a £100 million Special Purpose Vehicle (SPV) to enhance EV charging infrastructure in the UK. The company has partnered with Axxeltrova Capital, a private equity firm specializing in digital infrastructure and renewable energy, as its first funding partner. The SPV will target projects eligible for UK's Local Electric Vehicle Infrastructure (LEVI) funding and aims to attract additional investors to support the growth of EV charging networks. This initiative reflects Blink's commitment to expanding accessible charging infrastructure while offering investors an opportunity to participate in the EV infrastructure market.
Blink Charging (NASDAQ: BLNK) has secured a $2 million grant from the Illinois Environmental Protection Agency to own and operate EV chargers across Illinois. The project, part of the state's 'Rebuild Illinois' capital program, will establish 15 new charging stations across five locations, including 10 180kW DC fast chargers and five Dual Port Level 2 stations. Blink will provide a 30% cost share and handle site assessment, installation, maintenance, and training services.
Envoy Technologies, a Blink Charging Co. company, has partnered with UNLMTD Real Estate Group to launch an electric car-sharing program at FIAT House, a luxury residential development in Fort Lee, New Jersey. The program features a fleet of FIAT 500e electric vehicles exclusively available for residents to book hourly through the Envoy Mobility app. Located near the George Washington Bridge, FIAT House offers multiple transportation options including the new EV sharing service, which aims to eliminate the need for personal vehicle ownership. The program supports property owners through enhanced tenant retention while promoting sustainable transportation. Envoy currently operates in 23 states and plans nationwide expansion.
Blink Charging (NASDAQ: BLNK) has scheduled its third quarter 2024 financial results announcement for Thursday, November 7, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. Eastern Time to discuss Q3 results for the period ended September 30, 2024. Investors can access the webcast through Blink's website or via a direct link. To join by phone, participants should dial (877) 545-0523 (US) or (973) 528-0016 (International) using access code 315699. A replay will be available until December 7, 2024.
Blink Charging Co. (NASDAQ: BLNK) is offering support to former Enel X and JuiceBox customers affected by Enel X's decision to close its North American operations. Blink is providing cost-effective solutions and immediate upgrades to ensure uninterrupted access to reliable EV charging equipment and services.
Key points:
- Blink offers a revenue share program where they cover the cost of EV charging equipment, warranty, and maintenance
- Free swap-out of existing JuiceBox charging stations for customers needing an upgrade
- Blink's charging stations are designed to be future-ready, supporting advancements like vehicle-to-grid technology
- Inventory is ready for immediate shipping and replacement
Michael Battaglia, COO and CEO-Elect of Blink Charging, emphasized the company's focus on removing obstacles to EV charging and making it a beneficial investment for all parties involved.
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