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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Blink Charging Applauds Historic $1.2 Trillion Bipartisan Infrastructure Bill with an Estimated $7.5 Billion Targeted for Electric Vehicle Infrastructure

November 8, 2021 GMT

Blink ChargingWell-PositionedtoDeployEVCharging StationstoHelpAchieve the Nation’s Electrification Goals

Miami Beach, FL, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator, and provider of electric vehicle (“EV”) charging equipment and services, is proud to support the historic bipartisan infrastructure bill and applauds the Biden Administration and congressional lawmakers who are taking an important step to improve our nation’s infrastructure, and accelerating the adoption of electric vehicles.

“We are excited by the inclusion of $7.5 billion for EV infrastructure to build out our nation’s EV network,” stated Michael D. Farkas, Founder and Chief Executive Officer of Blink Charging. “The passage of the federal infrastructure package brings us one step closer to achieving significant funding for the development and deployment of EV infrastructure, a critical component to unlocking mass EV adoption, curbing transportation related emission and creating new jobs with this fast-growing industry. In addition, the bill aligns with the President’s goal that half of the vehicles sold in the United States in 2030 will be zero-emissions vehicles and his aspiration to have 500,000 EV charging stations in place by that same year.”

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“This bill furthers the commitment we are already witnessing from local, regional, federal and utility partners who are committed to making EV charging a reality across the country. Thus far in 2021, Blink has been awarded nearly $25 million in existing EV infrastructure grants, rebates, and incentives. Due to Blink’s unique owner and operator modality, we can amplify the impact of these grants, rebates, and incentives to create a robust ecosystem of EV infrastructure,” said Farkas. “In fact, due in part, to these opportunities, Blink has been able to accelerate efforts to widely deploy public EV charging stations across the country.”

“With this legislation, the momentum we are seeing today is just the start of where the industry will go. This commitment by bipartisan lawmakers is pivotal in propelling the industry forward in a strategic and methodical manner, where public actions complement the efforts of private industry to develop the infrastructure required to realize significant and meaningful change for electric vehicles,” said Farkas.

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ABOUT BLINK CHARGING

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Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a leader in electric vehicle (EV) charging equipment and has deployed over 30,000 charging ports in 13 countries, 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 includes 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

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, along with terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should,” and 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 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 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 undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Media Contact
PR@BlinkCharging.com

Blink Investor Relations Contact
IR@BlinkCharging.com
(855) 313.8187