BLINK AND SG BLOCKS ENTER INTO STRATEGIC MASTER DEVELOPMENT AND PRODUCTION AGREEMENT TO BRING SOLAR, OFF-GRID, MODULAR EV CHA...
October 16 2020 - 7:15AM
SG Blocks, Inc. (NASDAQ: SGBX) a leading designer, innovator and
fabricator of container-based structures, and Blink Charging Co.
(NASDAQ: BLNK), a leading owner and operator of electric vehicle
(EV) charging equipment and services, today jointly announced that
they entered into an exclusive Master Development and Production
Agreement pursuant to which Blink’s EV charging solutions will be
deployed along with SG Blocks’ container-based modular building
structures. The Agreement brings together two industry leaders and
natural allies to deploy a rapid and cost-effective innovative EV
charging solution. The EV charging containers will be designed to
provide off-grid charging solutions through a combined solar and
battery components in multiple capacities.
“By deploying our leading EV charging technology
in SG Blocks’ modular structures, Blink expects to be able to
greatly increase our geographic footprint supporting the growing
number of electric vehicles and the need for increased charging
locations,” said Michael D. Farkas, Founder and Chief Executive
Officer of Blink. “SG Blocks provides a turn-key solution that
is durable and environmentally friendly. It provides the unique
ability to deploy EV charging stations quickly and
effectively.”
“It is an honor to be working with Michael and
the team from Blink on this natural alliance of sustainably focused
firms. We are excited to partner with Blink to provide a rapid,
clean, and durable solution that facilitates Blink’s growth in the
EV charging market,” said Paul M. Galvin, Chairman & CEO of SG
Blocks. “As we mobilize to deliver our modular solutions to Blink,
together, we are helping our joint customers minimize their carbon
footprint and maximize their lifestyles.”
With this Master Development and Production
Agreement, Blink and SG Blocks plan to co-develop 20-foot and
40-foot solar-powered containers, with Blink’s IQ 200 and DCFC
charging stations. The 20-foot container will host four 80-amp
charging stations, and the 40-foot container will support eight
80-amp charging stations.
SG Blocks will provide code compliant industrial
design, architecture, and engineering specifications for the
modular structure. Blink will provide all design, engineering
specifications, and parameters of EV charging services and their
operation.
About SG Blocks, Inc. SG
Blocks, Inc. is a premier innovator in advancing and promoting the
use of code-engineered cargo shipping containers for safe and
sustainable construction. The firm offers a product that exceeds
many standard building code requirements, and also supports
developers, architects, builders and owners in achieving greener
construction, faster execution, and stronger buildings of higher
value. Each project starts with GreenSteel™, the structural core
and shell of an SG Blocks building, and is then customized to
client specifications. For more information, visit
www.sgblocks.com.
About Blink Charging.
Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a
leader in electric vehicle (EV) charging equipment and has deployed
over 23,000 charging stations, many of which are networked EV
charging stations, enabling EV drivers to easily charge at any of
the Company’s charging locations worldwide. Blink Charging’s
principal line of products and services include its Blink EV
charging network (“Blink Network”), EV charging equipment, and EV
charging services. The Blink Network uses 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 vehicles
by 2025 from approximately 2 million in 2019, the Company has
established key strategic partnerships for rolling out adoption
across numerous location types, including parking facilities,
multifamily residences and condos, workplace locations, health
care/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
Certain statements in this press release
constitute "forward-looking statements" within the meaning of the
federal securities laws. Words such as "may," "might," "will,"
"should," "believe," "expect," "anticipate," "estimate,"
"continue," "predict," "forecast," "project," "plan," "intend" or
similar expressions, or statements regarding intent, belief, or
current expectations, are forward-looking statements. These
forward-looking statements are based upon current estimates and
assumptions and include statements regarding plans to deploy
Blink’s EV charging solutions via SG Blocks’ container based
modular building structures and increasing Blink’s geographic
footprint to support the growing number of electric vehicles and
the need for increased charging locations. While we believe these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward-looking statements are subject to various risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, our ability to deploy Blink’s EV charging
solutions via SG Blocks’ container based modular building
structures as planned, our ability to increase Blink’s geographic
footprint as expected, our ability to position our respective
companies for future profitability, our ability to maintain our
respective companies’ compliance with the NASDAQ listing
requirements, and the other cautionary statements discussed in our
respective companies’ Annual Reports on Form 10-K for the year
ended December 31, 2019 and our respective companies’ subsequent
filings with the SEC, including subsequent periodic reports on
Forms 10-Q and 8-K. The information in this release is provided
only as of the date of this release, and we undertake no obligation
to update any forward-looking statements contained in this release
on account of new information, future events, or otherwise, except
as required by law.
ContactsMedia Rubenstein Public
Relations:Christina Levin Account Director 212-805-3029
clevin@rubensteinpr.com
Investor Relations ICRStephen Swett(203)
682-8377stephen.swett@icrinc.com
Blink Investor
RelationsIR@BlinkCharging.com(855) 313.8187
Blink Media
ContactPR@BlinkCharging.com
Blink Charging (NASDAQ:BLNK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Blink Charging (NASDAQ:BLNK)
Historical Stock Chart
From Sep 2023 to Sep 2024