Blink Charging and Chakratec to Receive $900,000 Grant from the BIRD Energy Program for Development of DC Fast Charging Solut...
December 30 2019 - 10:00AM
Blink Charging Co. (NASDAQ: BLNK, BLNKW), announced today the
approval of the Israel-U.S. Binational Industrial Research and
Development (BIRD) Energy Program’s match-funding for the Blink and
Chakratec project for affordable, everyday DC fast-charging
solutions, “Boosting EV Charging through Energy Storage System.”
The BIRD Energy Program is funded by the U.S. Department of Energy
and Israel’s Ministry of Energy together with the Israel Innovation
Authority. Blink Charging, founded in 2009, is partnering with
Chakratec, an Israeli eMobility company, to bring a robust DC fast
charging solution to the United States which can be deployed
virtually anywhere, regardless of the location’s existing power
grid capabilities.
Today, DC Fast Chargers (50kW, 175kW, 350kW, and
higher) provide the fastest electric vehicle (EV) charging speeds,
making these high-power charging solutions only attainable in
locations with sufficient grid power. Upgrading grid infrastructure
is extremely costly. Even for cities that can afford the upgrade,
the process can be sluggish, with an arduous approval processes,
with various regulatory and bureaucratic procedures. Accordingly,
most roads in the United States are unable to take advantage of DC
fast charging technology, which can heighten EV driver range
anxiety for long-distance travel.
The Blink and Chakratec project is expected to
introduce cutting-edge DC fast charging technology to the United
States that utilizes a kinetic energy storage system. This will
enable high-power charging, serving many EVs daily without
straining the grid, and avoiding increased “high demand” charges
from utility companies. The proprietary technology is
chemical-free, environmentally friendly, and able to complete a
full charging cycle within just twenty minutes. The project
facilitates the deployment of DC Fast Chargers nationwide,
regardless of the location’s current grid status, without the need
for costly upgrades. All of the DC Chargers will be connected to
the Blink Network, which provides a comprehensive and easy-to-use
service experience for drivers. The technology will enable Blink to
offer a practical, inexpensive DC fast charging solution to the US
market, making fast EV charging available anywhere and anytime. The
build-out of this fast DC charging solution will further encourage
the widespread adoption of electric vehicles.
“We are excited to begin the Blink-Chakratec
project. The Chakratec technology has the unique capability of
absorbing and storing peak loads in the power grid and utilizing
the kinetically stored energy to enable DC Fast Charging anytime,
anywhere. Additionally, this technology has the benefit of being
entirely mechanical, not requiring the use of batteries, giving the
charger a much longer life and ensuring it has minimal to no impact
on our environment; we expect this project to make DC fast charging
on the Blink Network a fast, economical, and easy way to charge
wherever the road may take you,” shared Michael D. Farkas, Chairman
and CEO of Blink Charging.
"We are proud to collaborate with Blink
Charging. This is another step in Chakratec’s journey to introduce
our unique kinetic energy storage system which enables ultra-fast
EV charging. After successful deployments in Europe, this joint
project with Blink will be our first in the North American market.
We are positive that this project will benefit our companies and
the EV industry, greatly. We hope to create a fast charging
solution that will end US drivers’ range anxiety once and for all,”
added Ilan Ben David, Chakratec’s CEO.
Since its inception in 2009, Blink has paved the
way for electric vehicle adoption. Blink is a leading provider of
EV charging stations and the largest owner/operator of charging
stations in the United States. This cooperation between Blink and
Chakratec is a substantial step in furthering Blink’s mission “to
slow the effects of climate change by reducing greenhouse gas
emissions caused by transportation, globally.”
The BIRD Energy Program began in 2009 as a
result of the Energy Independence and Security Act of 2007. Since
then and including the projects announced this past week, BIRD
Energy has funded forty-nine projects with a total government
investment of approximately $38 million, in addition to the $49
million in matching funds coming from the private sector. Each
project is conducted by a U.S. and an Israeli partner. Selected
projects address energy challenges and opportunities that are
of interest to both countries and focus on commercializing clean
energy technologies that improve economic competitiveness, create
jobs and support innovative companies.
For more information, please
contact pr@blinkcharging.com.
# # #
ABOUT CHAKRATECChakratec ltd
(Chakratec) was founded in 2013 and is privately owned and managed
by its three co-founders, who gained significant experience in
senior executive positions in public companies. Operating from its
offices in Lod, Israel, the innovative company has a
patent-protected technology for EV charging, with proof of concept
achieved with operational units in Austria, Italy, and the Czech
Republic, installed in leading energy and automotive companies.
ABOUT BLINK CHARGINGBlink
Charging is a leading owner/operator of EV charging stations in the
United States and a growing presence in Europe, Asia, Israel, the
Caribbean, and South America. With a long history as a pioneer in
the EV industry and a dedicated team with industry knowledge, Blink
continues to be a preferred, trusted partner in EV charging station
technology. As such, Blink is a driving force with more than
150,000 registered EV driver members and more than 15,000 EV
charging stations deployed. For more information, please visit
www.blinkcharging.com. Nasdaq: BLNK
ABOUT BIRD FOUNDATION The BIRD
(Binational Industrial Research and Development) Foundation
established in 1977 works to encourage and facilitate cooperation
between U.S. and Israeli companies in a wide range of technology
sectors and offers funding to selected projects. The BIRD
Foundation supports projects without receiving any equity or
intellectual property rights in the participating companies or in
the projects, themselves. BIRD funding is repaid as royalties from
sales of products that were commercialized as a result of BIRD
support. The Foundation provides funding of up to 50% of a
project's budget, beginning with R&D and ending with the
initial stages of sales and marketing. The Foundation shares the
risk and does not require repayment if the project fails to reach
the sales stage. The cumulative sales of products developed through
projects funded by the BIRD Foundation have exceeded $10
billion.
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