Blink Charging Co. and InterEnergy Systems to establish a Joint Venture to deploy EV Charging Stations within the Caribbean and Latin America
Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator and provider of electric vehicle (EV) charging station products and networked EV charging services, has entered into a memorandum of understanding (“MOU”) with InterEnergy Systems, the technology focused wholly owned subsidiary of InterEnergy Group (“InterEnergy”), a leading owner and and operator of power generation and distribution assets in Latin America and the Caribbean.
Blink and InterEnergy plan to form a joint venture entity (“JV”) to develop EV charging infrastructure throughout the Dominican Republic and Panama, with the objective of expanding the business to other Latin American and Caribbean markets in the near future. Blink will providethe JV with its EV charging stations, the Blink Network and expertise, while InterEnergy will provide operational support, local resources and power sector expertise in the markets where the JV will operate.
The exact terms and conditions of the JV are to be outlined in a detailed agreement to be executed between the two parties.
“This joint venture to bring EV charging infrastructure to the Caribbean and Latin America will make it possible for these countries to begin importing EVs and join the movement from fossil-fuel driven economies to sustainable green ones,” stated Blink’s Founder and Executive Chairman Michael D. Farkas. He continued, “the Caribbean and Latin America are facing a classic chicken and egg scenario — the lack of EV charging infrastructure is stopping the importation and sale of EVs and vice versa. Our JV intends to solve the puzzle. Our JV will invest in developing, deploying, managing, and maintaining the charging infrastructure and will begin to expand the availability of charging ports in the Caribbean and Latin America so that the citizens and guests of those countries can enjoy the benefits of driving EVs.”
Rolando Gonzalez Bunster, InterEnergy Chairman and CEO, stated that the fundamental objective of promoting EVs is to empower customers to control their energy consumption in a practical and convenient way so that, together with our customers, we can contribute to a more sustainable planet. “We are very excited to enter the electric mobility market. We see the roll-out of a network of EV charging stations as a key part of our mission to continue to bring reliable and cost-effective energy alternatives to our region”, said Gonzalez Bunster.
About InterEnergy Group (“InterEnergy”).
InterEnergy owns and operates power generation, transmission and distribution assets as well as fuel logistics businesses in Latin America and the Caribbean. With a significant footprint in the Dominican Republic, Panama, Jamaica and Chile. InterEnergy’s generation portfolio aggregates approximately 1,250MW of installed capacity across the region. It is also the exclusive supplier of electricity to the fast-growing tourism resort area of Punta Cana-Bavaro, covering over 50,000 hotel rooms and over 40,000 low-tension clients.
A pioneer in renewable energy, InterEnergy developed, the first wind farms in the Dominican Republic, the largest wind farm in Central America, and several solar power projects throughout the region. By supplying over 320 MW of renewable energy generation throughout the region, InterEnergy eliminates hundreds of thousands of tons of CO2 emissions per year.
About Blink Charging Co.:
Blink Charging Co. (NASDAQ: BLNK, BLNKW) is one of the leaders in public electric vehicle (EV) charging equipment and services in theUnited States.
Blink designs, owns, operates and sells EV charging equipment under the Blink brand, as well as a number of other charging station equipment manufacturers such as Chargepoint, General Electric (GE) and SemaConnect. Blink Charging also offers connectivity to the Blink Network, a cloud-based platform that operates, manages and tracks Blink EV charging stations and all associated data.
For more information about Blink, please visit www.Blinkcharging.com.