BLINK AND INTERENERGY ENTER INTO A MEMORANDUM OF UNDERSTANDING
March 05 2019 - 9:45AM
Blink Charging Co. and InterEnergy Systems to
establish a Joint Venture to deploy EV Charging Stations within the
Caribbean and Latin America
Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink” or the
“Company”), a leading owner, operator and provider
of electric vehicle (EV) charging station
products and networked EV charging services, has entered into
a memorandum of understanding (“MOU”) with
InterEnergy Systems, the technology focused wholly owned
subsidiary of InterEnergy Group
(“InterEnergy”), a leading owner and operator of
power generation and distribution assets in Latin
America and the Caribbean.
Blink and InterEnergy plan to form a
joint venture entity (“JV”) to develop EV charging
infrastructure throughout the Dominican Republic and
Panama, with the objective of expanding the business to
other Latin American and Caribbean markets in the near future.
Blink will provide the JV with its EV charging stations,
the Blink Network and expertise, while InterEnergy will
provide operational support, local resources and power sector
expertise in the markets where the JV will operate.
The exact terms and conditions of the JV are to
be outlined in a detailed agreement to be executed between the two
parties.
“This joint venture to bring EV charging
infrastructure to the Caribbean and Latin America will make it
possible for these countries to begin importing EVs and join the
movement from fossil-fuel driven economies to sustainable green
ones,” stated Blink’s Founder and Executive Chairman Michael D.
Farkas. He continued, “the Caribbean and Latin America are facing a
classic chicken and egg scenario -- the lack of EV
charging infrastructure is stopping the importation and sale of EVs
and vice versa. Our JV intends to solve the puzzle. Our JV will
invest in developing, deploying, managing, and maintaining the
charging infrastructure and will begin to expand the availability
of charging ports in the Caribbean and Latin America so that the
citizens and guests of those countries can enjoy the benefits of
driving EVs.”
Rolando Gonzalez Bunster, InterEnergy Chairman
and CEO, stated that the fundamental objective of
promoting EVs is to empower customers to
control their energy consumption in a practical
and convenient way so that, together with our
customers, we can contribute to a more sustainable
planet. “We are very excited to enter the electric mobility market.
We see the roll-out of a network of EV charging stations as a key
part of our mission to continue to bring reliable and
cost-effective energy alternatives to our region”, said
Gonzalez Bunster.
About Blink Charging
Co.:Blink Charging Co. (NASDAQ: BLNK,
BLNKW) is one of the leaders in public electric vehicle (EV)
charging equipment and services in the United States.
Blink designs, owns, operates and sells EV
charging equipment under the Blink brand, as well as a number of
other charging station equipment manufacturers such as ChargePoint,
General Electric (GE) and SemaConnect. Blink Charging also offers
connectivity to the Blink Network, a cloud-based platform that
operates, manages and tracks Blink EV charging stations and all
associated data.
For more information about Blink, please
visit www.Blinkcharging.com.
About
InterEnergy Group (“InterEnergy”).
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 over 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
Forward-Looking StatementsThis
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 Co. 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, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Except as required by federal securities law, the
Company undertakes no obligation to update or revise
forward-looking statements to reflect changed conditions
Media Contact:Todd Baker, Vice President of
MarketingPR@BlinkCharging.com
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