Blink & SG Blocks Enter Into Strategic Master Development & Production Agreement to Bring Solar, Off-grid, Modular EV Chargin...
October 16 2020 - 7:00AM
Business Wire
- Provides for Cooperative Deployment of
Charging Stations with Energy Storage to Support Growing Demand for
Electric Vehicles
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.
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“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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201016005322/en/
Media Rubenstein Public Relations: Christina Levin Account
Director 212-805-3029 clevin@rubensteinpr.com Investor Relations
ICR Stephen Swett (203) 682-8377 stephen.swett@icrinc.com Blink
Investor Relations IR@BlinkCharging.com (855) 313.8187 Blink
Media PR@BlinkCharging.com
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