Blink Charging Provides EV Charging Solutions As School Bus Fleets Move Towards Electric Buses
July 27 2022 - 9:15AM
Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the
“Company”), a leading owner, operator, and provider of electric
vehicle (“EV”) charging equipment and services, announced today the
continued deployment of Blink EV chargers for electric school bus
fleets. Blink has already sold or deployed nearly 400 Level 2
chargers in 14 states at educational facilities.
With the recent passage of the Infrastructure
Investment and Jobs Act (IIJA), the Biden administration committed
$5 billion to the production of environmentally cleaner school
buses. Half of these funds have been earmarked specifically for
electric school buses.
“At a time when fuel diesel prices are at an
all-time high and we are seeing a global shift towards electric
vehicles, it only makes sense, both economically and
environmentally, that our nations school bus fleets follow suit,”
stated Michael Farkas founder and CEO at Blink. “The move toward
increasing the number of electric school buses would significantly
impact the environment for the better and provide relief to
districts and fleets during a time of economic uncertainty. We are
pleased to see the Biden administration taking such bold action on
cleaner transportation for schools with the passing of the IIJA
that will get more electric school buses on the roads.”
Additionally, the EPA will also award school
districts $500 million through their Clean School Bus (CBS)
rebates. This increase in funding will naturally lead to a greater
demand for electric vehicle charging equipment to power their
buses. Under IIJA, electric school bus chargers are an eligible
expense. This is in addition to the $7.5 billion that the IIJA set
aside for electric vehicle infrastructure along U.S.
interstates. Time is of the essence for communities to access
the EPA funds as the application window has already opened for the
2022 CSB rebates. Applications will be reviewed starting in
September 2022.
Of the 480,000 school buses currently in
operation in the United States, only 1,800 are electric
buses, creating a great demand and opportunity for school bus
fleets to move towards electric. According to the Environmental
Protection Agency (EPA), school buses collectively travel over
three billion miles yearly, transporting more than 25 million
American children daily.
“There is no doubt to the environmental and
economic benefits in moving towards an all-electric school bus
fleet. We are seeing much growth across the country in electric bus
adoption as districts and fleet operators see results in reduced
maintenance costs, improve rider comfort and limiting overall
environmental footprints,” said John Hipchen, Executive Director,
Electric School Bus Coalition.
Blink will be holding an informative webinar
today with Southern California Edison, the Electric School Bus
Coalition, and Fontana Unified School District to discuss the
process and potential rebates available for school districts
looking to electrify their fleets. For information on the webinar,
click here.
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About Blink
Charging
Blink Charging Co. (Nasdaq: BLNK, BLNKW), a
leader in electric vehicle (EV) charging equipment, has deployed
over 48,000 charging ports across 19 countries, many of which are
networked EV charging stations, enabling EV drivers to easily
charge at any of Blink’s charging locations worldwide. Blink’s
principal line of products and services include the Blink EV
charging network (“Blink Network”), EV charging equipment, EV
charging services, and the products and services of recent
acquisitions, including SemaConnect, Blue Corner and BlueLA. The
Blink Network uses proprietary, cloud-based software that operates,
maintains, and tracks the EV charging stations connected to the
network and the associated charging data. With global EV purchases
forecasted to rise to 10 million vehicles by 2025 from
approximately 2 million in 2019, Blink has established key
strategic partnerships for rolling out adoption across numerous
location types, including parking facilities, multifamily
residences and condos, workplace locations, health care/medical
facilities, schools and universities, airports, auto dealers,
hotels, mixed-use municipal locations, parks and recreation areas,
religious institutions, restaurants, retailers, stadiums,
supermarkets, and transportation hubs. For more information, please
visit https://www.blinkcharging.com/.
Forward-Looking
Statements
This press release contains forward-looking
statements as defined within Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements, and terms such
as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or
other comparable terms, involve risks and uncertainties because
they relate to events and depend on circumstances that will occur
in the future. Those statements include statements regarding the
intent, belief or current expectations of Blink Charging and
members of its management, as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, including those
described in Blink Charging’s periodic reports filed with the SEC,
and that actual results may differ materially from those
contemplated by such forward-looking statements. Except as required
by federal securities law, Blink Charging undertakes no obligation
to update or revise forward-looking statements to reflect changed
conditions. Blink Investor Relations
Contact IR@BlinkCharging.com
855-313-8187
Blink Media
Contact PR@BlinkCharging.com
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