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Blink Charging Broadcasts the Transformative Acquisition of EV Charging Chief SemaConnect, Additional Increasing Its Community and Capabilities

Blink Charging Broadcasts the Transformative Acquisition of EV Charging Chief SemaConnect, Additional Increasing Its Community and Capabilities

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  • Acquisition additional solidifies Blink’s management place by full vertical integration of supply-chain, engineering, and in-house manufacturing capabilities of greater than 10,000 EV chargers at present and scaling to 50,000 per yr
  • In-house manufacturing and US-based meeting brings Blink in compliance with the Biden Administration Purchase American initiatives

Miami Seashore, FL – June 14, 2022 – Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Firm”), a number one proprietor, operator, and supplier of electrical car (EV) charging tools and providers, at present introduced the signing of a definitive settlement to amass SemaConnect, Inc., a number one supplier of EV charging infrastructure options in North America, for $200 million topic to sure customary changes for working capital. The money and customary inventory transaction will add practically 13,000 EV chargers to Blink’s present footprint, a further 3,800 website host places, and greater than 150,000 registered EV driver members.

With this acquisition, Blink Charging would be the solely EV charging firm to supply full vertical integration from analysis & growth and manufacturing to EV charger possession and operations. This vertical integration creates unparalleled alternatives for Blink to regulate its provide chain and speed up its go-to-market velocity whereas decreasing working prices.

Blink will profit from SemaConnect’s in-house analysis & growth, {hardware} design, and manufacturing capabilities. SemaConnect’s manufacturing facility in Maryland will enable Blink to adjust to the Purchase American mandates and to place itself to considerably capitalize on the $7.5 billion Biden Administration EV infrastructure invoice and help with the Administration’s aim to construct out the first-ever nationwide community of 500,000 electrical car chargers alongside America’s highways and in communities. The acquisition will even place Blink to help the administration’s growth of a nationwide EV charging community that gives interoperability amongst completely different charging corporations, and is user-friendly, dependable, and accessible to all People.

“This can be a transformative acquisition for the EV charging business and for Blink. SemaConnect is a longtime and well-known EV charging firm with a confirmed observe file of success, sturdy relationships with its website host companions in each the private and non-private sectors, and best-in-class technical capabilities,” mentioned Michael D. Farkas, Founder and CEO of Blink Charging.

“SemaConnect has a sturdy {hardware} product line-up which enhances Blink’s in depth software program product choices. This contains our multi-language and multi-currency community, permitting Blink to have an EV charging station for any location throughout greater than 20 nations and increasing,” mentioned Farkas. “As well as, we’re significantly excited concerning the DCFC charger being developed by SemaConnect. These efforts enable Blink to considerably speed up our DCFC velocity to market whereas drastically decreasing our R&D prices,” mentioned Mr. Farkas.

Blink intends to transition SemaConnect’s chargers to a single state-of-the-art community developed by a joint engineering staff, which practically doubles with this acquisition. The addition of the SemaConnect {hardware} will speed up Blink’s enlargement throughout a number of municipalities and geographies, together with California the place SemaConnect chargers already adjust to native necessities for swipe bank card performance.

Based in 2008, SemaConnect is a market chief with a various suite of merchandise, together with Degree 2 and DC Quick chargers, and charging-as-a-service program which supplies a full bundle of EV charging options. SemaConnect’s {hardware} and software program options attain a variety of vital EV charging clients throughout municipal, parking, multifamily, lodge, workplace, retail and industrial within the U.S. and Canada. Main clients embody CBRE, JLL, Hines, Greystar, AvalonBay Communities, Cisco Programs, Normal Electrical, amongst others.

Mahi Reddy, Founder and CEO of SemaConnect, mentioned:  “Like Blink, SemaConnect has been a pacesetter within the EV charging business since its early days, and the mix of our experience will allow us to scale the deployment of EV infrastructure much more shortly and effectively. We’re excited to affix Blink as we cost forward in remodeling the EV charging business with versatile, dependable, and modern options for patrons across the globe.”

“With complementary values, enterprise fashions, and tools, SemaConnect was a super acquisition goal for Blink. This acquisition brings to Blink high expertise from the business. By including the SemaConnect staff to its ranks, Blink is constructing an business main EV charging firm. We welcome the SemaConnect staff to the Blink household,” mentioned Mr. Farkas.

“With this acquisition and Blink’s current previous acquisitions, together with EB Charging and Blue Nook in Europe, now we have considerably expanded and strengthened our place as a worldwide chief within the EV house,” mentioned Mr. Farkas.

Mahi Reddy from SemaConnect is predicted to affix the Blink Board of Administrators.

The SemaConnect acquisition is topic to customary closing situations.

Blink Charging will host a convention name and webcast to debate the transaction at present, Tuesday, June 14, 2022 at 9:00 AM Jap Time.

To entry the reside webcast, log onto the Blink Charging web site at www.blinkcharging.com and click on on the Information/Occasions part of the Investor Relations web page. Buyers may entry the webcast by way of the next hyperlink:
https://www.webcaster4.com/Webcast/Web page/2468/45828

To take part within the name by cellphone, dial (888) 506-0062 roughly 5 minutes previous to the scheduled begin time. Worldwide callers please dial (973) 528-0011. Callers ought to use entry code: 778753.

A replay of the teleconference might be accessible till July 14, 2022 and could also be accessed by dialing (877) 481-4010. Worldwide callers might dial (919) 882-2331. Callers ought to use convention ID: 45828.

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ABOUT BLINK CHARGING
Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a pacesetter in electrical car (EV) charging tools and has deployed over 30,000 charging ports throughout 18 nations, lots of that are networked EV charging stations, enabling EV drivers to simply cost at any of the Firm’s charging places worldwide. Blink’s principal line of services and products embody the Blink EV charging community (“Blink Community”), EV charging tools, EV charging providers, and the services and products of current acquisitions, together with Blue Nook and BlueLA. The Blink Community makes use of proprietary, cloud-based software program that operates, maintains, and tracks the EV charging stations related to the community and the related charging information. With world EV purchases forecasted to rise to 10 million autos by 2025 from roughly 2 million in 2019, the Firm has established key strategic partnerships for rolling out adoption throughout quite a few location sorts, together with parking amenities, multifamily residences and condos, office places, well being care/medical amenities, colleges and universities, airports, auto sellers, inns, mixed-use municipal places, parks and recreation areas, spiritual establishments, eating places, retailers, stadiums, supermarkets, and transportation hubs. For extra data, please go to https://www.blinkcharging.com/.

ABOUT SEMACONNECT
SemaConnect is a number one supplier and pioneer of electrical car charging infrastructure options to the North American industrial, residential and fleet market. An entire EV assist companion, SemaConnect is making transportation electrification potential on this decade by modern, elegantly designed charging stations, a sturdy and open community platform, and an unparalleled charging expertise for drivers and station house owners. Since its founding in 2008, SemaConnect has put in 1000’s of sensible charging stations at high corporations like CBRE, JLL, Hines, GreyStar, AvalonBay Communities, and Normal Electrical. SemaConnect is a charging options companion to municipal, parking, multifamily, lodge, workplace, retail and industrial fleet clients throughout the USA and Canada. For extra data, go to https://semaconnect.com/.

Ahead-Trying Statements
This press launch accommodates forward-looking statements as outlined inside Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements, together with phrases akin to “anticipate,” “anticipate,” “intend,” “might,” “will,” “ought to,” and different comparable phrases, contain dangers and uncertainties as a result of they relate to occasions and depend upon circumstances that may happen sooner or later. These statements embody statements concerning the intent, perception, or present expectations of Blink Charging and members of its administration, in addition to the assumptions on which such statements are primarily based. Potential buyers are cautioned that any such forward-looking statements are usually not ensures of future efficiency and contain dangers and uncertainties, together with dangers associated to the acquisition of SemaConnect, in addition to Blink Charging’s skill to combine the acquired enterprise inside anticipated timeframes and to attain the income, price financial savings and earnings ranges from such acquisition at or above the degrees tasks, and people different dangers described in Blink Charging’s periodic reviews filed with the SEC, and that precise outcomes might differ materially from these contemplated by such forward-looking statements. Besides as required by federal securities regulation, Blink Charging undertakes no obligation to replace or revise forward-looking statements to mirror modified situations.

Blink Media Contact

PR@BlinkCharging.com

Blink Investor Relations Contact

IR@BlinkCharging.com

855-313-8187

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