Blink Charging Co., a leading owner, provider, and operator of EV (electric vehicle) charging services and equipment, announced today that its fully-owned European division, Blink Holdings BV, has purchased Electric Blue Ltd. (EB Charging), a UK-based provider of incorporated EV charging as well as sustainable energy solutions.
This acquisition marks Blink’s first foray into the United Kingdom, bringing its total number of installed or committed chargers to over 1,150, driving the company’s global expansion to more than 18 nations. This acquisition could cost up to $23.4 million in cash, shares, and earn-out payments.
Since the year 2015, EB Charging has swiftly expanded, now serving over 80 customers, the majority of them being local governments, universities, NHS healthcare trusts, and fleets. Over 40 towns in the UK have implemented EB Charging’s comprehensive portfolio of Level 2 and DC fast solutions. EB Charging, like Blink, uses an owner-operator model to provide clients and stakeholders with flexible, personalized, as well as strategic commercial options to help them reach their charging infrastructure objectives, whether they wish to own, collaborate with, or host it.
“Blink will be collaborating with EB Charging to build a Blink footprint in the UK, allowing us to deliver a unified global experience,” said Michael Farkas, who is the CEO and Founder of Blink Charging.
“We have a strong array of electric vehicle charging solutions that include advanced EV charging technologies and a cutting-edge EV network. EB Charging is a well-known and well-established electric vehicle charging provider with a successful track record. Blink will add additional commercial and home chargers, novel global network services and applications, and new EV fleet management solutions to EB Charging’s product lineup. The acquisition will help Blink achieve its aim of providing a consistent global experience for all-electric vehicle charging consumers.”
“Blink and EB Charging have a common goal of advancing electric vehicle charging via strategic owner-operator models which offer greater flexibility and better results. EB Charging is a perfect firm to join the Blink umbrella because of current government incentives. Through this acquisition, we’re thrilled to establish a strong presence in an essential market and play an essential part in helping the UK reach its electrification goals,” said Mr. Farkas.
The United Kingdom is a significant pioneer in the shift to electric mobility as among the first nations to pledge to ban fossil fuel vehicle sales by 2030. Last month, the UK reaffirmed its promise to double the number of charging stations to 300,000 by the close of the decade, as part of a £1.6 billion plan to expand public EV infrastructure. Blink will be able to capitalize on growth potential in this industry and expand its footprint across Europe as a result of its acquisition of EB Charging.
“Blink’s experience, investment, and supply chain will allow us to install more charge ports, serve more EV driving consumers, and deliver on our promise to customer excellence and innovation,” said EB Charging Managing Director (MD) Alex Calnan. We can swiftly and efficiently serve our existing £12 million orderbook with Blink, considerably expanding the UK’s EV charging presence. Blink is a significant company in the United States, and it will continue to offer significant value to its overseas acquisitions and partners. We’re thrilled to be joining the Blink family.”