Blink Charging Co. (NASDAQ: BLNK, BLNKW) today announced that
InterEnergy, an owner and operator of power generation,
transmission and distribution assets in Latin America,
including the Dominican Republic where its CEPM subsidiary provides
energy solutions to more than 66% of the national tourism sector,
has enlisted Blink to bring EV charging infrastructure to the
Dominican Republic and Panama.
As part of InterEnergy’s total investment in the
deployment of 500 charging stations for electrical vehicles, the
company announced the initial acquisition of 200 Blink Charging
stations, including Level 2 charging stations, DC Level 3 fast
chargers, and networked residential smart units for a total initial
purchase of $1.2 million in Blink hardware. Approximately 30% of
the purchase price has been paid to Blink, with the balance payable
upon shipment of the units, expected to occur later in the first
quarter of 2020.
As pioneers in the implementation of the first
national charging stations network, InterEnergy aims to
facilitate the installation of 500 charging stations throughout the
Dominican Republic and Panama supported by its EVerGO network.
“This is a significant step on InterEnergy’s efforts to eliminate
thousands of tons of CO2 emissions per year initially in the
Dominican Republic which as an important tourist
destination demands clean energy generation, representing
multiple benefits to the environment,” stated Rolando Gonzalez
Bunster, Chairman of InterEnergy.
Miami Beach-based Blink Charging is a leading
owner and operator of electric vehicle charging stations in the
United States. This relationship with InterEnergy further expands
the company’s reach internationally, which now serves half a dozen
countries.
The Blink Level 2 chargers, Blink IQ 200, are
the fastest AC charging stations available, producing 80 amps of
output. This fast Level 2 technology is best used for locations in
commercial centers, shopping malls, workplaces and multifamily
residential dwellings. The DC Level 3 fast chargers can charge more
rapidly, producing 50 kW of power, making them reliable for
roadside charging where distance traveling is common.
All Blink charging stations are suitable for
advances in battery technology found in electric vehicles and
capable of charging any battery-electric or plug-in hybrid vehicle
providing consumers with easy access to fast charging. Blink’s
chargers are OCPP compliant and meet all of the requirements for
utilization in the Dominican Republic.
“We are excited to work with a pioneer in
green-focused renewable energy, while providing their customers the
best equipment available. Bringing EV charging infrastructure to
the Dominican Republic is only the first step of our engagement
with InterEnergy and we look forward to future expansion in Panama
City and further into the Caribbean and South America,” said Blink
Founder and CEO Michael D. Farkas. “As more
consumers are choosing to drive EVs, the need for charging
infrastructure will make it possible for countries across the globe
to move towards full adoption of EVs and a clean transportation
future,” added Mr. Farkas.
The initial order of 200 Blink charging stations
followed InterEnergy’s thorough assessment of available EV charging
equipment in the marketplace. According to InterEnergy, Blink’s
products were found to be the fastest, most resistant for
environmental conditions, particularly for an island, and best
designed for ongoing operations. Reviewing Blink’s equipment led
InterEnergy to choose Blink as its sole provider for EV charging
equipment in the Dominican Republic, InterEnergy noted.
Bloomberg New Energy Finance’s EV Outlook 2019
reports that the number of EVs sold has increased in the past
decade, from only a few thousand to over 2 million in 2018 and is
forecasting a rise of 10 million in 2025, 28 million in 2030, and
56 million by 2040. According to the study, despite the Latin
American EV market being significantly smaller than in North
America, the industry is rapidly growing. The availability of EV
charging at these locations will reassure drivers of electric
vehicles that they can find somewhere to charge and continue on
their way.
# # #
ABOUT
INTERENERGY GROUP
InterEnergy owns and operates
power generation, transmission and distribution assets as
well as fuel logistics businesses in Latin America and the
Caribbean. With a significant footprint in the Dominican
Republic, Panama, Jamaica and Chile, InterEnergy’s generation
portfolio aggregates approximately 1,250MW of installed capacity
across the region. It is also the exclusive supplier of
electricity to the fast-growing tourism resort area of Punta
Cana-Bavaro, covering more than 50,000 hotel rooms and over 40,000
low-tension clients.
A pioneer in renewable energy,
InterEnergy developed the first wind farms in the
Dominican Republic, the largest wind farm in Central
America, and several solar power projects throughout the
region. By supplying over 320 MW of renewable energy
generation throughout the region, InterEnergy
eliminates hundreds of thousands of tons of
CO2 emissions per year. For more information about
Interenergy, please visit www.interenergy.com
ABOUT BLINK CHARGING
Blink 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
knowledge of the industry, Blink continues to be the trusted
partner in EV charging station technology. The company 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
Forward-Looking Statements
This press release contains forward-looking
statements as defined within Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements, and terms such
as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or
other comparable terms, involve risks and uncertainties because
they relate to events and depend on circumstances that will occur
in the future. Those statements include statements regarding the
intent, belief or current expectations of Blink Charging and
members of its management, as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, including those
described in Blink Charging’s periodic reports filed with the SEC,
and that actual results may differ materially from those
contemplated by such forward-looking statements. Except as required
by federal securities law, Blink Charging undertakes no obligation
to update or revise forward-looking statements to reflect changed
conditions.
Blink Media Contact PR@BlinkCharging.com
Blink Investor Relations Contact
InvestorRelations@BlinkCharging.com
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