Presenting virtually at last week's Needham Annual Business Conference, Blink Charging Co. BLNK explained that its stock jumped 2,198% in 2020 through its fast-growing formula of organic expansion and acquisitions. Michael Farkas, Founder and CEO, said BLNK grew last year — it more than doubled its revenue in 2020 and now has a market cap of $l.96 billion, according to S&P Global Market Intelligence — by approaching the EV Charging Station market for the long haul. It has installed speed-growable modular units, attained long term exclusive property contracts and employed a strategy of growing internally and by industry takeover. Solar Integrated Roofing Corp. SIRC recently launched its own dedicated EV Charging Solutions Division, joining quick-growing Tesla, Inc. TSLA in the electric vehicle (EV) charging sector.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing and battery charging energy industry such as Solar Integrated Roofing Corp. SIRC, Blink Charging Co. BLNK, Tesla, Inc. TSLA, SolarEdge Technologies, Inc. SEDG, First Solar, Inc. FSLR, SunPowerCorp. SPWR, Gibraltar Industries, Inc. ROCK, Sunrun, Inc. RUN and Canadian Solar Inc. CSIQ.
Blink Charging Co. BLNK Investment Conference Presentation Sees EV Electric Charging Station Market As Early In Its Growth Cycle; Solar Integrated Roofing Corp. SIRC Enters Sector With Dedicated EV Charging Solutions Division
"We’ve always wanted to be vertically integrated and form alliances with property owners," Farkas told investors virtually at the Needham Conference. "We own and operate the charging stations," he added, stressing that BLNK insists on exclusivity in the ‘ports' and locations where its stations are located. Focusing on urban, dense populated areas, BLNK wants long-term exclusive contracts and works with property manager Cushman to identify future installations. "You have no idea how early this is, Farkas said. "In a baseball analogy, I don't know if we are yet in the middle of the first inning."
BLNK Grows By Takeover And Raises $221.4 Million In Stock Offering
Last year, BLNK subsidiary Blink Mobility acquired BlueLA Carsharing, owner of 200 EV charging stations — doubling the number of BLNK stations in the LA market. This month, Blink Charging Co. BLNK closed on the public offering sale of 5.4 million shares of its common stock for gross proceeds of $221.4 million. The Company said it would use the proceeds to supplement its operating cash flows, fund EV charging station deployment and enable it to finance the costs of acquiring competitive and complementary businesses.
SIRC Seeks To Build Market Share In EV Charging Station Market
David Massey, CEO of Solar Integrated Roofing Corp. SIRC, said, "I am pleased to announce the launch of our newest initiative to aggressively enter the EV charging space, addressing a large, rapidly growing market with significant regulatory tailwinds. We intend to leverage our existing customer base for improved cross-selling opportunities and to explore acquisitions of existing EV charging solutions providers to position us to grow market share over the long term. I look forward to continued execution into 2021 as we work to create sustainable value for our shareholders."
Potentially 250,000 More Chargers Needed In The U.S. In The Future
For the future, BLNK's CEO Farkas sees in the U.S. some 50,000 potential sites. At five charging stations per site, he sees potentially 250,000 more chargers needed. In its history, BLNK has deployed some 24,000+ chargers and now has some 15,000-16,000 in the field after discarding obsolete or too-slow chargers. Internationally, Farkas says BLNK is already in Greece, Israel, Dominican Republic, Latin America — and he sees some 50 million charging stations needed globally in the future. Blink Charging Co. BLNK Investment Conference Presentation Sees EV Electric Charging Station Market As Early In Its Growth Cycle; Solar Integrated Roofing Corp. SIRC Enters Sector With Dedicated EV Charging Solutions Division.
SIRC Enters EV Charging Station Market As Part Of Its Integrated Strategy Of Being In Clean Energy Markets
The move by Solar Integrated Roofing Corp. SIRC to enter the EV Charging Station solutions market is seen as part of its integrated strategy of entering clean-market sectors. EV station charging is seen as a $39.2 billion worldwide market by 2027, predicts Precedence Research. This new report says consumers globally who own — or will own — electric vehicles seek less wanting time, faster-charging stations and a boost for battery performance.
SIRC Establishes Dedicated Division For EV Charging Station Space
Cross-selling existing customers as well as the potential acquisition of existing EV charging providers will make this new division fast growing, Massey said. He added that the future is bright as electric vehicles accounted for 7.84% of new cars in California in 2018. California has a legislatively targeted goal for all new cars to have zero emissions by 2035. Legislative tailwinds favor this sector. Blink Charging Co. BLNK Investment Conference Presentation Sees EV Electric Charging Station Market As Early In Its Growth Cycle; Solar Integrated Roofing Corp. SIRC Enters Sector With Dedicated EV Charging Solutions Division.
Solar Integrated Roofing Corp. SIRC, is forecasting a record-breaking $40 million volume by FY 2022.
SIRC projects that its volume will report a record breaking $40+ million in fiscal 2022. Solar Integrated Roofing Corp. SIRC forecast that it would report record volume of $20 million for FY 2021.
Learn more about Solar Integrated Roofing Corp. SIRC at its website.
Source: Stock Market Press
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