Blink Charging Announces Acquisition of EB Charging

Miami Beach, FL – Blink Charging announced that its wholly-owned European subsidiary, Blink Holdings BV, has acquired Electric Blue Ltd. (EB Charging), a provider of integrated EV charging and sustainable energy solutions based in the United Kingdom. This acquisition marks Blink’s first entry into the UK and adds more than 1,150 chargers, installed or committed for delivery, to its footprint, accelerating Blink’s global expansion, now present in more than 18 countries. The purchase price of this acquisition is up to approximately $23.4 million, in a combination of cash, stock, and earn-out.

Since 2015, EB Charging has grown rapidly, servicing over 80 customers, principally local authorities, NHS healthcare trusts, universities, and fleets. EB Charging’s diverse suite of Level 2 and DC fast products has been installed in over 40 municipalities across the UK. Like Blink, EB Charging offers an owner-operator model, providing customers and partners with flexible, personalized, and strategic business opportunities to achieve customer goals whether they want to own, partner with, or host their charging infrastructure.

As one of the first countries to commit to banning the sale of fossil fuel vehicles by 2030, the UK is a notable leader in the transition to electric transportation. Last month, the UK heightened its commitment to increase the number of charge points tenfold to 300,000 by the end of the decade, alongside an announcement of a £1.6 billion strategy to increase public EV infrastructure. The acquisition of EB Charging will allow Blink to tap into the opportunities for growth in this market and increase its footprint across Europe.

ABOUT – Blink Charging Co. is a leader in electric vehicle (EV) charging equipment and has deployed over 30,000 charging ports across 18 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’s principal line of products and services include the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including Blue Corner and BlueLA. 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.

Source

Avatar photo
The EV Report

The EV Report is a digital platform dedicated to the global electric vehicle industry. It is a product of Hagman Media Group, and its mission is to inform, engage, and connect industry professionals and EV enthusiasts with relevant news and insights.