Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink”), a global
leading owner, operator and provider of electric vehicle (EV)
charging equipment and services, today announced it has signed a
distribution agreement with ZOOZ Power (TASE: ZOOZ), a leading
supplier of flywheel-based Power Boosting EV charging solutions,
for the distribution, sale, and deployment of ZOOZ’s Kinetic Power
Booster, the ZOOZTER™-100, that utilizes advanced technology for
storing kinetic energy in flywheels to power EV DC fast
chargers.
As demand for ultra-fast charging around the
world continues to increase, it faces the core-challenge of
building adequate infrastructure where the grid is
power-constrained, which is precisely the gap that Blink and ZOOZ
intend to address and provide with a unique solution such as the
ZOOZTER™-100.
ZOOZ Power’s built-to-last ZOOZTER™-100 with
patented flywheel technology drives unlimited high-power charge and
discharge cycles with a lifespan of more than 15 year, far
outlasting battery chargers. The ZOOZTER™-100 enable to charge an
EV battery in less than 15 minutes even where the grid is
power-constrained, and provides a valuable sustainable solution,
being 100% recyclable, with much smaller carbon footprint, and
significantly smaller total cost of ownership, compared to chemical
battery solution.
"This is an exciting time in the advancement of
reliable energy solutions, and we are proud to continue our
cooperation with ZOOZ Power and to support its ability to reduce
dependency on the electrical grid and provide ultra-fast,
carbon-neutral EV charging stations almost anywhere,” said Michael
D. Farkas, Executive Chairman and Chief Executive Officer of Blink
Charging. “As the demand for convenient and accessible long-range
EV charging grows, it is imperative that we provide EV drivers with
dependable and sustainable solutions and in cooperation with ZOOZ,
we provide just that.”
"We are very excited to strengthen and step-up
our cooperation with Blink Charging, one of the leading EV-charging
companies in the USA, with presence in 25 countries worldwide,”
said Boaz Weizer, ZOOZ Power CEO. “I recognize the agreement with
Blink to be another significant milestone in our penetration into
the U.S. market, which is developing rapidly and will offer
enormous business potential in the coming years.”
Blink was selected by ZOOZ for its pioneering
experience in the EV-charging industry and its long-time activity
in the field that has made Blink a global industry leader. The
distribution agreement follows Blink’s fourth year of collaboration
with ZOOZ Power, supported by the BIRD foundation (US-Israel
Bilateral R&D), which will soon reach its peak with a joint
pilot installation in Fort Lauderdale, Florida. The pilot site is
currently under construction, expected to become operational in the
2nd quarter of 2023.
###
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK, BLNKW), a
leader in electric vehicle (EV) charging equipment, has deployed
nearly 59,000 charging ports across 25 countries, many of which are
networked EV charging stations, enabling EV drivers to easily
charge at any of Blink’s charging locations worldwide. Blink’s
principal line of products and services includes the Blink EV
charging network (“Blink Network”), EV charging equipment, EV
charging services, and the products and services of recent
acquisitions, including SemaConnect, 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, Blink 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. For more information, please
visit https://www.blinkcharging.com/.
About ZOOZ PowerZOOZ is a
leading supplier of Flywheel-based Power Boosting solutions
enabling ultra-green, ultra-fast electric vehicle charging
anywhere.
We are committed to eliminating range anxiety
and helping to accelerate the mass adoption of electric vehicles
around the world. Our goal is to enable the vast roll-out of
cost-effective ultra-fast charging infrastructure while sustainably
overcoming existing grid limitations.
ZOOZ pioneers its unique flywheel-based power
boosting technology, enabling unlimited high-power charge &
discharge cycles with a lifespan of more than 15 years, thus
providing minimal total cost of ownership for ultra-fast EV
charging infrastructure. As our product is based on kinetic energy
storage in flywheels, it is neither toxic, nor based on rare earth
materials, making it intrinsically green.
Our sustainable, power boosting solutions are
built with longevity and the environment in mind, helping our
customers and partners create the world’s most sustainable,
reliable, long-lasting and cost-effective fast-charging
solutions.
Forward-Looking Statements
This press release contains forward-looking
statements as defined within Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements, and terms such
as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or
other comparable terms, involve risks and uncertainties because
they relate to events and depend on circumstances that will occur
in the future. Those statements include statements regarding the
intent, belief or current expectations of Blink Charging and
members of its management, as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties,
including uncertainties with respect to the success of the
future pilot projects and sales of the power booster system in the
United States as described above, as well as the risks
disclosed in Blink Charging’s periodic reports filed with the
SEC, and that actual results may differ materially from those
contemplated by such forward-looking statements. Except as required
by federal securities law, Blink Charging undertakes no obligation
to update or revise forward-looking statements to reflect changed
conditions.
Blink Investor Relations
ContactIR@BlinkCharging.com 855-313-8187
Blink Media ContactPR@BlinkCharging.com
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