Blink Charging Co. (Nasdaq: BLNK), a global owner, operator, and supplier of charging infrastructure and services for electric vehicles, said in a statement that it has purchased U-Go Stations, Inc., an EV charging operator, and its portfolio of 44 DCFC charging locations. The investment also involves numerous grants given to U-Go for up to 45 additional new charging stations to be deployed. The charging stations, extending the DCFC footprint of Blink, are spread in ten states.
We are actively looking for opportunities to strategically extend our reach across the U.s as a core contributor to the evolving EV landscape, and our acquisition of U-Go supports this expansion. U-Go has significant grant awards for further DCFC deployments in Michigan, Pennsylvania, New Jersey, and Vermont, in addition to their current charging sites at desirable locations such as hotels, gas stations, and car dealerships. Brendan Jones, Chief Executive Officer of Blink, said in a separate statement. We are looking forward to building and operating these new charging sites in early 2021, he added.
The company remains committed to bringing the rising population of EV drivers with reliable, easy, and efficient charging stations, and the inclusion of the U-Go portfolio strengthens our crucial position as a leading provider in the continuous growth of EV infrastructure, added Mr. Jones.
The purchase would have the critical mass required to make substantial inroads into the rapid charging market for DC and provide a greater national footprint for Blink. The U-Go charging stations will connect 88 chargers, primarily found on the West Coast, to Blink’s existing DCFC portfolio.
Of the new chargers, 31 will run on the EVGo network and will be migrated over the next 30 days to the Blink Network. 13 are not active, though potential upgrades will be determined. For Blink participants and visitors, both units will be open and can be found on the Blink Smartphone App and Blink Map.