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ANTWERP - Blink Charging Co. (NASDAQ:BLNK), whose stock has shown strong momentum with a 9.4% gain over the past week despite facing significant challenges in the EV charging market, announced Monday its expanded collaboration with Belgian office property company Group Bernaerts to increase electric vehicle charging infrastructure across properties in Antwerp and Mechelen. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though it faces profitability challenges.
Group Bernaerts currently operates 88 Blink charging stations and plans to double this number by the end of 2025, according to a company press release. The collaboration, which began in 2022, aims to have at least 176 active Blink chargers installed by year-end.
The property company reports that usage of existing charging stations has been strong, with the number of kilowatt-hours charged at their sites tripling each year.
"Every single one of the Blink Chargers on our properties in Antwerp and Mechelen is used daily," said Nico Van Daele, Managing Director of Group Bernaerts.
The expansion will include both underground chargers at office buildings and above-ground installations near highways, concert halls, and event venues to maximize utilization beyond office hours.
Before partnering with Blink, Group Bernaerts faced challenges with tenants independently installing charging stations with private meters, creating technical and operational difficulties.
Alex Calnan, Managing Director of Europe at Blink Charging, stated that the company offers "EV charging parking management solutions through collaborations with third parties" using platforms designed for multi-tenant environments.
Group Bernaerts develops, constructs, rents, and sells commercial real estate in the Antwerp and Mechelen regions, with approximately 210,000 square meters of office space, logistics sites, and semi-industrial properties in its portfolio. While Blink Charging’s stock appears undervalued according to InvestingPro Fair Value metrics, investors should note that analysts anticipate a sales decline in the current year. For deeper insights into Blink Charging’s financial health and growth prospects, including 13 additional ProTips and comprehensive analysis, explore the full Pro Research Report available on InvestingPro.
In other recent news, Blink Charging Co. reported several significant developments. The company announced it will install its Blink-owned Level 2 electric vehicle chargers at two Accesso properties in South Florida, enhancing EV infrastructure for employees, tenants, and visitors. Blink Charging also agreed to acquire Zemetric, a firm specializing in fleet EV charging solutions, with the transaction expected to close by July 2025. Additionally, Blink has been recommended as a replacement provider for customers affected by Everon’s exit from the EV charging market, offering services such as infrastructure evaluation and maintenance. In the UK, Blink has partnered with private equity firm Axxeltrova to create a £100 million Special Purpose Vehicle to support EV charging infrastructure development, aligned with the UK government’s Local Electric Vehicle Infrastructure program. Moreover, Blink appointed Alex Calnan as the new Managing Director of Europe, effective July 2025, as part of its focus on expanding its European market presence. The company continues to work on expanding its EV charging network across various locations, including parking facilities and workplaces.
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