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BOWIE, Md. - Blink Charging Co. (NASDAQ: NASDAQ:BLNK), a prominent provider of electric vehicle (EV) charging equipment and services, has announced the operational launch of 76 EV charging ports across 23 Royal Farms convenience store locations in Maryland and Delaware. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though analysts note rapid cash utilization in recent operations. These installations are part of an ongoing collaboration between Blink and Royal Farms, with plans to exceed 100 charging ports in the near future.
The deployment of Blink’s DC Fast Chargers (DCFC) at these locations is part of a strategic initiative to enhance the EV charging infrastructure and cater to the growing number of EV drivers in the region. The project received partial funding through the Maryland Department of the Environment’s Electric Corridors Grants Program and Delaware’s Division of Air Quality within the Department of Natural Resources and Environmental Control (DNREC). With revenue growth of 15% in the last twelve months and a healthy current ratio of 2.52, InvestingPro analysis suggests the company is maintaining operational stability despite challenging market conditions.
Blink’s President and CEO-Elect, Mike Battaglia, expressed enthusiasm for the expansion, which builds upon the initial charging footprint established in 2024. He emphasized the alignment of this initiative with Blink’s goal to grow its recurring services business. Tom Ruszin, Fuel and Environment Leader for Royal Farms, also highlighted the significance of offering customers added convenience and supporting sustainable transportation.
Royal Farms, a Baltimore-based chain, is known for its fresh food offerings, including its "World-Famous" chicken, which customers can enjoy while their vehicles are charging.
This expansion is indicative of Blink’s broader strategy to establish key strategic partnerships to promote EV adoption in a variety of locations, from parking facilities to transportation hubs. The Blink Network, which uses proprietary, cloud-based software, manages and tracks the connected EV charging stations and associated data.
The information in this article is based on a press release statement from Blink Charging Co. and reflects the latest developments in the company’s efforts to support the transition to electric transportation by enhancing charging accessibility for EV drivers in the mid-Atlantic region. Trading near its 52-week low, InvestingPro analysis indicates the stock may be undervalued, with analysts projecting profitability this year. Discover 13 additional exclusive ProTips and comprehensive financial analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Blink Charging Co. has seen several significant developments. The company has appointed Michael Battaglia as the new CEO, a move that came after his successful tenure as the Chief Operating Officer. Battaglia’s extensive experience in the automotive and EV charging industry is expected to bring valuable leadership to the company.
Additionally, Blink Charging has expanded its Board of Directors with the addition of Martha J. Crawford and Michael Battaglia. Crawford, with her vast experience in strategic growth and low-carbon energy sectors, is anticipated to contribute significantly to the company’s strategic objectives.
In terms of financial performance, Blink Charging reported a third-quarter revenue of $25.2 million and improved its gross margin to 36%, up from 29% the previous year. Despite downgrades from financial advisory firms Needham and UBS due to concerns over revenue growth and market conditions, the company anticipates positive adjusted EBITDA in the second half of 2025.
Furthermore, Blink Charging has secured a three-year contract to enhance the electric vehicle charging infrastructure at Princess Royal University Hospital. This initiative involves the installation of 41 EV chargers and 21 contactless payment terminals.
Lastly, the company has formed a strategic partnership with ChargeHub to expand its electric vehicle charger access, aiming to enhance user experience by integrating Blink’s public EV chargers into ChargeHub’s Passport roaming hub. These are the recent developments for Blink Charging Co.
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