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BRADFORD, UK - Blink Charging Co. (NASDAQ:BLNK), an EV charging company with a market capitalization of $211.5 million and strong liquidity position, announced Monday that its UK subsidiary has been selected by Bradford Council to deliver 104 electric vehicle charging ports as part of the first phase of the Local Electric Vehicle Infrastructure (LEVI) program across the district. According to InvestingPro data, the company maintains more cash than debt on its balance sheet, with a healthy current ratio of 1.7.
The initiative, partially financed by £282,000 in government funding secured through the West Yorkshire Combined Authority, aims to install up to 1,000 new EV chargers at more than 230 sites throughout Bradford over the next two years. This expansion comes as the company reported annual revenues of $104.8 million, though InvestingPro analysis indicates analysts anticipate a sales decline in the current year.
According to the press release, the rollout will prioritize areas where charging access is currently limited, including on-street and off-street locations, with consideration for drivers with accessibility needs. Blink will install, own, and operate the chargers, which will be managed through the company’s charging app.
Councillor Sarah Ferriby, Bradford Council’s Executive Member for Healthy People and Places, stated that the first phase of the program will have "no financial impact on the Council’s budget, as the scheme is fully funded through national grants."
The Bradford deployment is part of a broader West Yorkshire initiative to develop the region’s charging infrastructure and support the transition to cleaner transport. The LEVI fund was established to help expand EV charging networks throughout the UK by supporting local authorities in installing public charging stations.
Tracy Brabin, Mayor of West Yorkshire, commented that the new charge points will "bring huge benefits to people without off-street parking and contribute to improving air quality in our communities."
The announcement represents an expansion of Blink’s operations in the UK market as the company continues to grow its global EV charging network. While the stock has shown strong momentum with a 170% price return over the past six months, InvestingPro analysis suggests the company is currently trading below its Fair Value. Investors can access 12 additional exclusive ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports, available for over 1,400 US-listed companies.
In other recent news, Blink Charging Co. announced significant developments in its electric vehicle charging infrastructure projects. The company has been selected by Wakefield Council to install 184 EV chargers as part of a regional net-zero initiative in the UK’s Wakefield district. This project is partially funded by a £282,000 investment from the UK government’s Local Electric Vehicle Infrastructure (LEVI) fund. Additionally, Blink Charging’s UK subsidiary is set to deploy 716 EV chargers across West Yorkshire, supported by a £1,410,000 initiative involving 15-year agreements with several district councils.
The West Yorkshire project is also partially funded by the UK government’s LEVI Pilot Fund. In the United States, Blink Charging has secured a contract to develop EV infrastructure for the City of Richmond, becoming one of five vendors to provide public charging solutions. Furthermore, Blink has completed the installation of eight 120kW DC fast chargers at Chicago’s West Garfield Park, enhancing EV infrastructure in the area. This Chicago project received partial funding from the Illinois Environmental Protection Agency. These recent developments indicate Blink Charging’s active role in expanding EV infrastructure across multiple regions.
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