Blink Charging Network Approved by OpenADR Alliance, Integrating Blink Equipment Directly to Utilities Providers For Ad...
March 17 2020 - 9:20AM
Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or
the “Company”), a leading owner and operator of electric
vehicle (EV) charging equipment and
services, today announced certification by
the OpenADR Alliance of the Blink Network under
OpenADR 2.0 to facilitate communication utility suppliers and
Blink’s vast EV charger network.
EV chargers represent a growing load to the
electric distribution system. Utilities can use demand response
programs to reduce peak load when needed, thereby offsetting the
energy supply cost for peak periods. Demand response can also
offset the cost of investment needed to otherwise upgrade the
distribution infrastructure. Through OpenADR 2.0, a widely adopted
standard, a utility or load management entity can readily integrate
our entire charging network within their territory to enable load
management control. This allows Blink charging stations to
reduce their power draw in response to a request from the utility
when in heavy demand. Blink’s solution enables the
chargers to be controlled individually or in programmed
groups. When a utility operator sends a demand response event
signal, the Blink network will identify individual
chargers and groups impacted and automatically initiate
curtailment.
Blink and its Hosts can benefit by
cost-effectively facilitating participation in demand response
programs to receive payment for reducing load in response to a
utility load event reducing our cost to serve. Drivers benefit by
receiving the lowest possible rates for charging their
vehicles.
“Our
membership in the OpenADR Alliance and
commitment to their standards is just one of many upcoming
technical deployments for the Blink network and our
Level 2 charging equipment,” said Michael D. Farkas, Chief
Executive Officer of Blink. “The Blink IQ 200 design planned
for these types of Smart Grid features and local load management
capabilities to address energy and EV charging stations needs not
only for today, but for the future as well. We’re very excited
to be a part of the energy revolution through the adoption of
electric vehicles.”
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About Blink Charging
Blink Charging (Nasdaq: BLNK, BLNKW) is a leader
in electric vehicle (EV) charging equipment and networked EV
charging stations, enabling EV drivers to easily charge at any of
its 15,000 charging. The Company’s principal line of products and
services is its Blink EV charging network (“Blink Network”), EV
charging equipment, and EV charging services. The Blink Network
utilizes a proprietary cloud-based software that operates,
maintains, and tracks the EV charging stations connected to the
network and the associated charging data. With global EV purchases
forecasted to rise to 10 million by 2025 from approximately 2
million in 2019, the Company has established key strategic
partnerships to rollout adoption across numerous location types,
including parking facilities, multi-family residences and condos,
workplace locations, healthcare/medical facilities, schools and
universities, airports, auto dealers, hotels, mixed-use municipal
locations, parks and recreation areas, religious institutions,
restaurants, retailers, stadiums, supermarkets, and transportation
hubs. For more information please
visit: https://www.blinkcharging.com.
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 the
potential benefits that we may obtain by being a member of the
OpenADR organization and 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 ContactPR@BlinkCharging.com
Blink Investor Relations
ContactIR@BlinkCharging.com855-313-8187
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