Blink Charging has launched 76 DC fast chargers at 23 Royal Farms locations in Maryland and Delaware, expanding EV charging access.
Quiver AI Summary
Blink Charging Co. has launched 76 DC fast chargers at 23 Royal Farms locations in Maryland and Delaware, with plans to expand to over 100 charging ports. The chargers, funded partly by state grants, aim to enhance convenience and support for electric vehicle (EV) drivers in the region, aligning with Blink's strategy to grow its services. Royal Farms, known for its fresh food offerings, sees the addition of these chargers as a way to meet customer demand and promote sustainable transportation. Both companies express excitement about their partnership and the benefits of providing high-speed charging options to the community.
Potential Positives
- Blink Charging has successfully deployed 76 EV charging ports at 23 Royal Farms locations, enhancing the availability of DC fast charging options for electric vehicle users in Maryland and Delaware.
- The collaboration with Royal Farms highlights Blink's strategy to expand its recurring services business, indicating potential for increased revenue and customer engagement.
- The funding through the Maryland Department of the Environment’s Electric Corridors Grants Program and Delaware’s DNREC Division of Air Quality demonstrates strong public sector support for Blink's initiatives, which may enhance the company's credibility and visibility in the market.
Potential Negatives
- The press release heavily focuses on the partnership with Royal Farms without providing detailed financial implications or expected revenue from the initiative, leaving investors uncertain about the economic benefits.
- While the expansion to 76 EV charging ports is presented as an achievement, it could be viewed as a minimal increase in the context of the growing competition in the EV charging market, potentially signaling a lack of aggressive growth strategy.
- The emphasis on funding received from state grants may raise questions about the sustainability of Blink's business model if it is heavily reliant on public funding for expansion projects.
FAQ
Where are the new Blink DC fast chargers located?
The new Blink DC fast chargers are located at 23 Royal Farms stores throughout Maryland and Delaware.
How many EV charging ports has Blink deployed at Royal Farms?
Blink has deployed a total of 76 EV charging ports at Royal Farms locations, with plans to exceed 100 ports.
Who funded the installation of these Blink chargers?
The installation was partially funded by the Maryland Department of the Environment and Delaware’s DNREC Division of Air Quality.
What type of food does Royal Farms offer at their locations?
Royal Farms offers a variety of convenience store goods, including their World-Famous chicken and fresh kitchen orders.
What is Blink Charging's primary business focus?
Blink Charging specializes in providing electric vehicle (EV) charging equipment and services, facilitating the transition to electric transportation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BLNK Insider Trading Activity
$BLNK insiders have traded $BLNK stock on the open market 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $BLNK stock by insiders over the last 6 months:
- KRISTINA A. PETERSON sold 24,077 shares for an estimated $43,377
- JACK LEVINE purchased 20,000 shares for an estimated $34,000
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$BLNK Hedge Fund Activity
We have seen 66 institutional investors add shares of $BLNK stock to their portfolio, and 76 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 1,202,271 shares (+27.6%) to their portfolio in Q3 2024, for an estimated $2,067,906
- INVESCO LTD. removed 942,813 shares (-53.3%) from their portfolio in Q3 2024, for an estimated $1,621,638
- D. E. SHAW & CO., INC. removed 821,246 shares (-45.2%) from their portfolio in Q3 2024, for an estimated $1,412,543
- AQR CAPITAL MANAGEMENT LLC removed 786,634 shares (-97.7%) from their portfolio in Q3 2024, for an estimated $1,353,010
- GOLDMAN SACHS GROUP INC removed 560,036 shares (-46.7%) from their portfolio in Q3 2024, for an estimated $963,261
- EXODUSPOINT CAPITAL MANAGEMENT, LP added 270,994 shares (+inf%) to their portfolio in Q3 2024, for an estimated $466,109
- NORTHERN TRUST CORP added 229,906 shares (+41.7%) to their portfolio in Q3 2024, for an estimated $395,438
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Blink-owned DC fast chargers are now operational at 23 Royal Farms locations throughout Maryland and Delaware, providing EV charging services for customers.
Bowie, Md., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK), a leading global owner, operator, provider and manufacturer of electric vehicle (EV) charging equipment and services, has now deployed 76 EV charging ports at 23 Royal Farms store locations, with additional locations to follow, to total more than 100 EV charging ports. The Baltimore-based convenience retail chain now offers its guests Blink’s state-of-the-art DC Fast Chargers (DCFC) at locations throughout Maryland and Delaware.
The chargers, which are owned, operated and maintained by Blink, were funded in part through the Maryland Department of the Environment’s Electric Corridors Grants Program and Delaware’s DNREC Division of Air Quality.
“We’re proud to be working with the team at Royal Farms to expand beyond the original charging footprint established in 2024,” said Mike Battaglia, Blink’s President and CEO-Elect. “Offering over 100 DC Fast Chargers at Royal Farms stores in the region is an exciting step towards bringing convenience and high speed charging to EV drivers in Maryland and Delaware. This also aligns well with Blink’s strategy of growing our recurring services business.”
“It’s exciting to be able to offer Royal Farms customers yet another form of convenience and support, while also supporting the adoption of sustainable transportation in general,” said Tom Ruszin, Fuel and Environment Leader for Royal Farms. “The addition of these Blink chargers has significantly expanded the charging capabilities to much of our network and Royal Farms looks forward to working with Blink as we continue to respond to customer needs throughout the mid-Atlantic region.”
In addition to the new Blink chargers, Royal Farms stores are fitted with convenience store goods and a full kitchen for customized fresh orders including the chain’s fresh, World-Famous chicken to take on the go or eat on-site while customers charge up.
###
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. 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. 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://blinkcharging.com/
About Royal Farms
Royal Farms is a renowned operator of fast and friendly neighborhood convenience stores with over 300 locations. Royal Farms opened its first store in Baltimore, MD in 1959. Today, the chain has locations in Maryland, Delaware, Pennsylvania, New Jersey, Virginia, West Virginia, and North Carolina. Royal Farms has been satisfying customers’ hunger for Real Fresh food served Real Fast. The Royal Farms Kitchen is well known for its Always Fresh, Never Frozen World-Famous Royal Farms Chicken that is lightly hand-breaded and pressure-cooked in Trans Fat Free cooking oil to golden brown perfection. Royal Farms Western Fries are hand-cut from fresh Idaho potatoes, hand-breaded, and cooked right in store. Most locations are open 24 hours, 365 days a year.
For more information about Royal Farms, visit: www.royalfarms.com
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 those described 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 Media Contact
Nipunika Coe
[email protected]
305-521-0200 ext. 266
Blink Investor Relations Contact
Vitalie Stelea
[email protected]
305-521-0200 ext. 446