About Blink Charging

Blink Charging Co. (Blink), through its subsidiaries, manufactures, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the U.S. and international markets for EVs. The company offers residential and commercial EV charging equipment and services, enabling EV drivers to recharge at various location types. The company’s principal line of products and services is its nationwide Blink EV charging networks (the Blink Networks) and Blink EV charging equipment, also known as electric vehicle supply equipment (EVSE), and other EV-related services. The Blink Networks are a proprietary, cloud-based system that operates, maintains and manages Blink charging stations and handles the associated charging data, back-end operations and payment processing. The Blink Networks provide property owners, managers, parking companies, and state and municipal entities (Property Partners), among other types of commercial customers, with cloud-based services that enable the remote monitoring and management of EV charging stations. The Blink Networks also provide EV drivers with vital station information, including station location, availability, and fees (as applicable). The company also owns and operates a ride-sharing program through its wholly owned subsidiary, BlueLA Rideshare, LLC (BlueLA), with the city of Los Angeles. The program allows customers the ability to rent electric vehicles through a subscription service and charge those cars through the company’s charging stations. The company has established strategic commercial, municipal and retail partnerships across industry verticals and encompassing numerous transit/destination locations, including airports, auto dealers, healthcare/medical, hotels, mixed-use, municipal sites, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations. In 2022, through the acquisitions of SemaConnect and Electric Blue, the company added new offices in Bowie, Maryland and St. Albans, the United Kingdom and manufacturing facilities in Bowie, Maryland and Bangalore, India. These new office and manufacturing facilities add to the company’s expanding the U.S. and international capacity to develop and manufacture hardware and innovate new software capabilities to better meet the needs of an evolving EV charging landscape, while also serving as a key hub for operations serving the Europe, the Asia Pacific and the Middle East regions. As of December 31, 2022, the company sold or deployed 66,478 chargers, of which 50,167 were in the Blink Networks (31,320 Level 2 publicly accessible commercial chargers, 17,613 Level 2 private commercial chargers, 199 DC Fast Charging EV publicly accessible chargers, 116 DC Fast Charging EV private chargers, and 919 residential Level 2 Blink EV chargers, inclusive of 4,802 chargers pending to be commissioned). Included in the Blink Networks are 4,851 chargers owned by the company. The remaining 16,478 were non-networked, on other networks or international sales or deployments (937 Level 2 commercial chargers, 151 DC Fast Charging chargers, 11,611 residential Level 2 Blink EV chargers, 2,311 sold to other U.S. networks, 1,221 sold internationally and 80 deployed internationally). EV Charging Solutions The company offers a variety of EV charging products and services to Property Partners and EV drivers. EV Charging Solutions Level 2: The company offers a wide range of Level 2 (AC) EV charging equipment, ideal for commercial and residential use, with the North American standard J1772 connector, and Level 2 chargers with the Type 2 connector compatible with electric vehicles in Europe and across Latin America. The company’s commercial Level 2 chargers consist of the EQ, MQ, and IQ 200 families and the Series 4, 6, 7, and 8 families, which are available in pedestal wall mount and pole mount configurations, and the all-new Vision. The MQ and IQ 200 and the Series 6, 7, and 8 chargers offer an optional cable management system. The company also offers three residential Level 2 chargers for the Americas, the wall-mounted HQ 150, HQ 200, Series 4, and one smart charging cable, the newly announced PQ 150, for European markets. The company’s commercial and residential chargers (except the non-networked HQ 150) can connect to the Blink Networks or a local network. Level 2 charging stations typically provide a full charge in two to eight hours. Level 2 chargers are ideally suited for frequently used parking locations, such as workplaces, multifamily residential, retail and mixed-use, parking garages, municipalities, colleges/schools, hospitals and airports. International Products: The company offers Level 2 AC and DC products for the rapidly expanding international markets targeted at the residential, workplace, retail, parking garages, leasing companies, hospitality and other locations. These products are available with the Type 2 and CCS 2 connectors and included the recently announced PQ 150, Series 3 (an ideal product for the 2/3-wheeled vehicles), and the EQ 200. Mobile Charger: The company offers the IQ 200-M Level 2 charger for the mobile/emergency charging market which requires a portable charger to be used for roadside or other use cases where a connection to the electricity grid is not available. Advertising Solution: In January 2023, the company announced an enhanced advertising and charging solution in one product. This product, Vision, consists of a striking 55” LCD screen capable of static and dynamic advertising and Level 2 charger with two charging ports, targeted at the retail, hospitality and high traffic locations. DCFC: The company offers a complete line of DC Fast Charging equipment (DCFC) that range from 30kW to 360kW, support the ‘CHAdeMo’ and the CCS1 connectors, and typically provide an 80% charge in less than 30 minutes. Installation of DCFC stations and grid requirements are typically greater than Level 2 charging stations and are ideally suited for transportation hubs and locations between travel destinations. These include the Series 9 30kW DC Fast Charger that works ideally for the fleet and auto dealership segments and is available in wall and pedestal mount configurations, the Blink 30kW DC Fast Charger that boasts a small footprint providing up to 100 amps of output, and the Blink 60kW – 360kW DC Fast Charger that provides from 140 to 500 amps of power. Blink Networks: The all new, rebuilt from the ground-up Blink Networks are a cloud-based product that manages the company’s network of EV chargers around the world for remote monitoring, management, payment processing, customer support and other features required for operating the Blink Networks of EV charging locations. Blink Charging Mobile App: The company offers its all-new Blink Charging Mobile App (iOS and Android) that provides EV drivers control by giving them improved search capabilities which allows them to search for nearby amenities, as well as chargers by zip-codes, city, business, category, or address, and expanded keyword search. Fleet Management: The company offers Fleet Management applications, targeted at commercial, municipal, and federal fleets that are interested in electrifying their fleets, for planning, managing, and optimizing their fleets for departure and energy costs. As a Sourcewell supplier, the company is able to help municipalities streamline the procurement process. Strategy The key elements of the company’s growth strategy are to pursue strategic opportunities to expand blink-owned turnkey and hybrid models; relentless focus on customer satisfaction; continue to invest in technology innovations; expand sales and marketing resources; seek strategic acquisition opportunities; leverage its early mover advantage; and international expansion with acquisitions. Sales The company engages with strategic distributor and reseller partners across a range of vertical markets both within the U.S. and globally. The company is making further inroads into the residential charging station market where it sells Level 2 chargers through various internet channels, such as Amazon, Walmart.com, Lowes.com, and other online retailers, to reach the single-family residential charging market in the United States. During 2022, the company was awarded several new prominent customers, including Mitsubishi, Cushman & Wakefield, Triple J, Q-Park, Best Buy, UBS, Bosch Mexico, Porsche Puerto Rico and Guatemala, Veris Residential, Greystar, Cambium, and cities of Atlanta, Rockford, Newton, Winslow, Leeds (UK) and others that expand Blink’s potential for unit sales and deployments. Through acquisitions of SemaConnect and Electric Blue in 2022, the company acquired a number of prominent customers, such as Walgreens, Olive Garden, Dunkin Donuts, Kaiser Permanente, Hilton, Ritz-Carlton, and many others. Commensurate with these new business relationships, the company also forged critical strategic relationships with organizations that directly or indirectly influence EV charging station purchase decisions. Examples include Sustainable Westchester in New York, and Clean Cities Organizations in Virginia, Vermont and Ohio, Florida Sheriff’s Association Cooperative, Illinois Region 1 Planning Council, AES El Salvador, and Vizient. The company’s in-house staff performs a variety of marketing activities. The company’s marketing team works to promote and sell its services to property owners and managers, parking companies, and EV drivers. The company also utilizes marketing and communication channels, including press releases, email marketing, website (www.blinkcharging.com), pay-per-click advertising, social media marketing, webinars, sponsorships and partnerships, advertising, and conferences. Customers and Partners The company has strategic partnerships across numerous transit/destination locations, including airports, auto dealers, healthcare/medical, hotels, mixed use and municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations. The company has hundreds of Property Partners that include well recognized companies, large municipalities, and local businesses. The company strives to engage all Blink-owned turnkey and hybrid property partners with exclusive EV charging contracts. This strategy further supports the company’s owner-operator model to generate recurring revenue for both the Property Partner and the company. Representative examples are McDonald’s; Sony Pictures; Caltrans; Audi of America; Porsche Design Tower; city of Azusa; city of Chula Vista; city of Springfield; city of Tucson; city of Fayetteville; BJ’s Inc.; Federal Realty; Fred Meyer Stores, Inc.; Fry’s Food & Drug, Inc.; Kana Hotel Group; Kroger Company; and Ralphs Grocery Company. The company continues to establish new contracts with Property Partners that previously secured its services independently or had contracts with the EV services providers that it acquired, including Ecotality, Inc. (Ecotality), the former owner of the Blink-related assets. The company’s revenues are primarily derived from fees charged to EV drivers for EV charging in public locations, EV charging hardware sales, government grants, and sales of equipment warranties. EV charging fees to drivers are based on an hourly rate, by energy dispensed per kilowatt-hour (kWh), or by session. EV charging hardware is sold to the company’s Property Partners, such as InterEnergy, Green Commuter, Nashville Music Center, Wendy’s, and other Property Partners engaged with its host-owned business model. Other income sources from EV charging services are network fees, extended warranty fees, membership fees, and payment processing fees paid by the company’s Property Partners. The company generates revenues from its ride-sharing program through BlueLA and the city of Los Angeles which allows customers the ability to rent electric vehicles through a subscription service. The company teamed up with Google Maps to make locating EV charging stations straightforward and accessible. The company’s charging stations are displayed in Google Maps, along with other relevant information. The company is focused on international expansion and has made significant progress at expanding its business across the globe, focusing primarily on Europe, the United Kingdom, Israel, and Latin America. In June 2022, the company completed the acquisition of SemaConnect, Inc., a leading provider of EV charging infrastructure solutions in North America with manufacturing facilities in both the United States and India. Upon the closing of the acquisition, SemaConnect became a wholly owned subsidiary of the company, allowing it to comply with ‘Buy America’ mandates and adding nearly 13,000 active chargers and over 150,000 registered users to the Blink Networks. In April 2022, pursuant to a Sale and Purchase Agreement dated April 22, 2022, the company acquired, through its wholly owned subsidiary in the Netherlands, Blink Holdings B.V., all the outstanding capital stock of Electric Blue Limited, a private company limited by shares and registered in England and Wales (EB), from its shareholders. EB is a leading provider of electric vehicle charging and sustainable energy solutions and technologies. Additionally, the company operates through Blink Charging Ltd. for its expansion in Israel and Blink Hellas SA for its expansion in Greece. The company is in the process of establishing numerous subsidiaries in Latin America as it further concentrates its international efforts. Finally, the company established a new software development team in India, managed by its Indian subsidiary, Blink Charging Software Solutions Ltd. Intellectual Property As of December 31, 2022, the company had four active patents issued in the United States (in the name of its subsidiary Ecotality, Inc.). These patents relate to various EV charging station designs. Government Regulation The company fully complies with the general industry category’s environmental regulations applicable to it as a Conditionally Exempt Small Quantity Generator (CESQG). The company is subject to the Occupational Safety and Health Act of 1970, as amended (OSHA). OSHA establishes specific employer responsibilities, including maintaining a workplace free of recognized hazards likely to cause death or serious injury, compliance with standards promulgated by the Occupational Safety and Health Administration and various recordkeeping, disclosure and procedural requirements. All of the company’s U.S. products comply with the National Electrical Manufacturers Association (NEMA)standards that apply to such products. Additionally, in the European Union (EU), the company is subject to the Waste Electrical and Electronic Equipment Directive (WEEE Directive). Competition The company’s existing competition in the U.S. includes ChargePoint, which manufactures EV charging equipment and operates the ChargePoint Network, and Evgo, which offers home and public charging with pay-as-you-go and subscription models. History The company was founded in 2009. It was formerly known as Car Charging Group, Inc. and changed its name to Blink Charging Co. in 2017.