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Miami Beach, FL and Reading, PA – July 28, 2020 – (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, and EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, jointly announced that they have agreed to develop high-power wireless and enhanced DC fast charging (DCFC) systems with integrated battery storage for the transportation market.
The Memorandum of Understanding (MoU) between the two companies includes joint research and development to commercialize EnerSys’ patented energy transfer technology combined with Blink’s patent-pending wireless parking bumper and DCFC technology to create faster, more efficient EV charging options with integrated energy storage solutions.
The next-generation DCFC charging solution with high power energy storage will feature a modular design with output from 100-500 kW and will be economically priced. The new DCFC will significantly propel the fast charging experience, much like the IQ 200 did for level 2 charging. Both products will be available to serve the global EV charging infrastructure market that is projected to reach USD $140.0 billion by 2030.*
Michael D. Farkas, Founder, CEO and Executive Chairman of Blink, commented, “This is an exciting collaboration with EnerSys because it combines the industry-leading technologies of our two companies to provide user-friendly, high powered, next-generation charging alternatives. We are continuously innovating our product offerings to provide more efficient and convenient charging options to the growing community of EV drivers.
“Blink’s patent-pending inductive parking bumper technology under development will enable EV owners to charge their vehicles without physically interacting with a charging station while providing a faster and more effortless charging experience. Likewise, by developing charging stations with next-generation integrated DCFC with energy storage capabilities, we can make state-of-the-art charging technology more affordable and accessible to the EV industry.”
Joern Tinnemeyer, Chief Technology Officer of EnerSys commented, “We share Blink’s commitment to growing the EV market by providing cutting-edge charging solutions that are easy to use, fast, and with Blink’s ever-expanding footprint, convenient. Our combined technologies will result in products that will continue to remove the barriers of EV adoption and help this industry grow.”
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/.
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. EnerSys provides highly integrated power solutions and services to broadband, telecom, renewable and industrial customers. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility and transportation industries, and by government and defense customers. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world. More information regarding EnerSys can be found at www.enersys.com.
Electric Vehicle Charging Infrastructure Market: Global Opportunity and Trend Analysis, May 2020
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 Charging and EnerSys and members of their respective management, as well as the assumptions on which such statements are based. Any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the risk that a new program such as this collaboration may not be successful or fully achieve the objective of the participants, in addition to other risks and uncertainties described in filings with the Securities and Exchange Commission by Blink Charging and EnerSys. Forward-looking statements speak only as of the the day they are made, even if subsequently made available by Blink Charging or EnerSys on their respective websites or otherwise, and that actual results may differ materially from those contemplated by such forward-looking statements. Blink Charging and EnerSys undertake no obligation to update or revise forward-looking statements to reflect new information, changed conditions or future events, except as required by federal securities laws.
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