Second quarter 2024 total revenues of $33.3 million, an increase over total revenues of $32.8 million in second quarter of 2023; 30% increase in year-to-date 2024 total revenues to $70.8 million Second quarter 2024 product revenues of $23.6 million compared to $24.6 million in second quarter of 2023; 25% increase in year-to-date 2024 product revenues to $51.1 million 15% increase in service revenues to $8.0 million in second quarter of 2024 compared to $7.0 million in second quarter 2023; 38% increase in ye ...

Blink and EVSTAR team up to elevate confidence in charger reliability by offering Blink's U.S. customers an extended warranty coverage option. Bowie, Md., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) ("Blink" or the "Company"), a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, has announced a strategic agreement with EVSTAR to introduce extended warranty coverage options for Blink customers. This new, optional extend ...

Core Insights - Blink Charging Co. has entered a strategic agreement with EVSTAR to offer extended warranty coverage options for its customers, aimed at enhancing customer confidence in charger reliability [2][4] - The extended warranty program covers various issues including accidental damage, OEM connection problems, and power surges, providing comprehensive protection for customers [2][4] - EVSTAR, backed by a leading global insurance organization, brings extensive experience in EV technology service warranty and repair to this collaboration [3][6] Company Overview - Blink Charging Co. is a global leader in electric vehicle (EV) charging equipment and services, facilitating the transition to electric transportation through innovative solutions [7] - The company's offerings include the Blink Network, EV charging equipment, and associated services, utilizing proprietary cloud-based software for operation and maintenance [7] - Blink has established strategic partnerships across various locations, including parking facilities, healthcare institutions, and retail spaces, to expand its EV charging network [7] Strategic Collaboration - The partnership with EVSTAR is seen as a pivotal moment for both companies and the EV charging industry, aiming to redefine warranty standards and enhance charger protection [5] - The collaboration allows Blink customers to avoid out-of-pocket expenses for eligible claims, ensuring better protection for their investments in EV infrastructure [4][5] - EVSTAR's mission includes delivering financially secure products and ensuring high uptime for EV charging devices, which supports the growth of the EV industry [6]

Core Viewpoint - NASPO ValuePoint has launched a new Electric Vehicle (EV) Charging Station Portfolio, which includes Blink Charging Co. as an official supplier, aimed at enhancing EV infrastructure across public entities in the U.S. [4][9] Group 1: NASPO ValuePoint Overview - NASPO ValuePoint is the cooperative purchasing division of the National Association of State Procurement Officials, facilitating public procurement solicitations nationwide [1][3] - The initiative aggregates demand from all 50 states, the District of Columbia, U.S. territories, and other eligible entities to promote best value and competition in the marketplace [3] Group 2: Blink Charging Co. Overview - Blink Charging Co. is a global leader in EV charging equipment and services, providing innovative solutions for electric transportation [7] - The company offers a range of products including the Blink Network, which utilizes proprietary software for managing EV charging stations [7] Group 3: EV Charging Station Portfolio - The new portfolio provides a comprehensive range of suppliers and product options for Level 2 and DC Fast Charge EV charging stations, along with installation, maintenance, and software support [10] - Contracts are designed to accommodate new technologies as the market evolves, ensuring public entities remain updated with advancements in EV infrastructure [10] Group 4: Strategic Importance - The award of the NASPO ValuePoint contract is seen as a significant recognition of Blink's leadership in the electrification of transportation [11] - Blink aims to provide targeted charging options for EV drivers, contributing to the broader goal of sustainable transportation solutions [11]

Core Insights - Blink Charging Co. has been selected as an official supplier in NASPO ValuePoint's new EV Charging Station Portfolio, enhancing its position in the electric vehicle charging market [2][9]. - The NASPO ValuePoint initiative aims to provide public entities with a comprehensive range of EV charging solutions, including Level 2 and DC Fast Charge stations, along with installation and maintenance services [3][8]. - The contract with NASPO ValuePoint is active through May 31, 2027, with the possibility of renewal until May 31, 2029, allowing Blink to serve various public entities across the U.S. [9]. Company Overview - Blink Charging Co. is a leading global manufacturer and provider of electric vehicle charging equipment and services, facilitating the transition to electric transportation [2][6]. - The company's offerings include the Blink Network, which utilizes proprietary cloud-based software for operating and maintaining EV charging stations [6]. - Blink has established strategic partnerships for deploying charging solutions across diverse locations, including parking facilities, healthcare institutions, and educational establishments [6]. Industry Context - The NASPO ValuePoint initiative, led by the State of Maryland, is part of an effort to meet the increasing demand for electric vehicle infrastructure across the nation [8]. - The portfolio aims to ensure that public entities can access high-quality and cost-effective EV charging solutions, thereby improving vital infrastructure [4][8]. - The initiative reflects a broader commitment to sustainable transportation solutions and the electrification of transportation in partnership with public agencies [10].

Core Viewpoint - Blink Charging Co. is set to announce its second quarter results on August 7, 2024, and will host a conference call and webcast to discuss these results [4]. Company Overview - Blink Charging Co. is a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services [4][6]. - The company offers a principal line of products and services, including the Blink EV charging network, EV charging equipment, and EV charging services [6]. - Blink's network utilizes proprietary, cloud-based software to operate, maintain, and track EV charging stations and associated data [6]. - The company has established strategic partnerships for EV charging adoption across various locations, including parking facilities, multifamily residences, workplaces, healthcare facilities, schools, airports, and more [6].

Core Points - A proposed class action settlement has been approved by the United States District Court for the Southern District of Florida, which will benefit purchasers of Blink Charging Company securities [4] - The settlement amount is $3,750,000 in cash, and a hearing will be held on October 23, 2024, to determine its fairness and adequacy [5] - Individuals who purchased Blink Charging securities between March 6, 2020, and August 19, 2020, may be entitled to share in the settlement fund [3][4] Settlement Class Information - Members of the Settlement Class must submit a Claim Form by December 4, 2024, to be eligible for a payment under the proposed settlement [6][10] - Those wishing to exclude themselves from the Settlement Class must submit a request for exclusion by October 2, 2024, to avoid being bound by the court's judgment [7][9] - Any objections to the proposed settlement or related motions must also be filed by October 2, 2024 [11]

Core Insights - Meristem Communities has partnered with Envoy Technologies to provide electric vehicle (EV) carsharing services at Indigo, a new 235-acre neighborhood in Fort Bend County, Texas [2][6][12] - The Indigo community is designed with a people-first approach, featuring approximately 800 residences, agricultural space, a lake, and mixed-use commercial development [6][13] - Envoy's services aim to reduce parking demand and individual car ownership, aligning with urban development goals [4][12] Company Overview - Meristem Communities is a Houston-based real estate development company focused on creating healthy communities and is set to open Indigo in mid-2024 [13] - Envoy Technologies, a subsidiary of Blink Charging Co., specializes in electric car-sharing services and aims to enhance mobility in residential and commercial properties [4][11] - Blink Charging Co. is a leader in EV charging solutions, providing a network and equipment to facilitate the transition to electric transportation [9][14] Service Features - Indigo residents will have access to a Rivian R1T vehicle through Envoy's mobile app, allowing bookings by the minute, hour, or day [11] - The partnership includes complimentary rental time for residents upon move-in and the ability to book vehicles in advance [7][11] - Envoy's services are operational in 23 states across the U.S., marking the debut of its network in Texas [12]

Core Insights - Meristem Communities has partnered with Envoy Technologies to provide electric vehicle (EV) carsharing services at Indigo, a new 235-acre neighborhood in Fort Bend County, Texas [7][8] - Indigo aims to create a people-first community with approximately 800 residential units, 42 acres of agriculture, and a 12-acre mixed-use town center, promoting a less auto-centered lifestyle [4][8] - Envoy's EV sharing platform will allow residents to access a Rivian R1T vehicle through a mobile app, with charging stations available on-site at no additional cost [3][9] Company Overview - Meristem Communities is a Houston-based real estate development company focused on creating healthy communities, with Indigo being its first neighborhood project [4][10] - Envoy Technologies, a subsidiary of Blink Charging Co., specializes in electric vehicle carsharing services and aims to reduce parking demand and individual car ownership through its amenity services [5][9] - Blink Charging Co. is a global leader in EV charging equipment and services, providing innovative solutions to facilitate the transition to electric transportation [12]

Fast chargers are vital, as they enable the charging of the EV batteries and thereby make the EVs more convenient to use for long-distance travel. Also, advancements like linking charging stations with smart grids and renewable energy systems are increasing the effectiveness and environmental friendliness of the infrastructure of EV charging. ChargePoint Holdings (CHPT) ChargePoint (NYSE:CHPT) has a high growth potential in the electric vehicle charging network industry, especially in the United States and ...