Why Blink Charging Shares Are Gaining Thursday

Blink Charging Co. BLNK shares traded higher on Thursday after the company announced it had secured a contract as an official EV charging provider for the state of New York. 

Under the deal, Blink Charging and New York joined forces to electrify state and municipal fleets and provide public charging solutions for employees, residents, and visitors.

“It’s rewarding to have a direct role in reducing emissions while enhancing the EV driver experience in New York. We are grateful for the state’s trust and our shared vision,” states Jim Nemec, Chief Revenue Officer at Blink Charging.

Blink will supply the state with its cutting-edge electric vehicle charging stations, encompassing Level 2 and DC fast chargers. Furthermore, Blink will extend associated services, including site evaluation, setup, upkeep, repairs, parts, warranties, and training.

In the agreement, Blink is designated as the provider of EV charging network services, involving EV management like monitoring, reporting, billing, and support. This includes integrating third-party fleet and building management systems for energy management, along with other EV-related software and technology.

Recently, Blink’s U.K.-based unit collaborated with Evri, a parcel delivery company, to install one of Evri’s first EV charging hubs at its sorting center in Rugby.

In the first steps, Blink Charging UK will provide twelve chargers at a high-volume sorting center in Rugby.

Price Action: BLNK shares are trading higher by 6.15% to $2.76 at last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: courtesy of Blink