Electrifying Partnership - Blink Charging Becomes The EV Charging Supplier For Tennessee Valley Authority

Blink Charging Co BLNK has entered into a two-year contract with the Tennessee Valley Authority (TVA) to provide EV charging solutions, including Level 2 (L2) charging equipment and DC Fast Chargers (DCFC) for both public and commercial fleet applications.

TVA is the nation's sixth largest power supplier and the largest government-owned electric utility company.

Blink will deliver and produce on-demand charging equipment to address drivers' needs and support the diverse array of consumer and fleet EV makes and models.

The new agreement provides TVA with access to Blink's Level2 Series 7 charger, 50kW DCFC, 75kW DCFC and 150kW DCFC.

TVA has a joint goal with regional EV stakeholders to have 200,000+ EVs on Tennessee Valley roads by 2028. 

Today's announcement follows Blink's recent Q2 2023 earnings, the strongest in company history, which saw total revenues increase to nearly $33 million for the quarter.

It also raised its 2023 revenue target from $100 million-$110 million to $110 million-$120 million and is targeting a positive adjusted EBITDA break-even run rate by December of 2024.

Also Read: Tesla's NACS Charging Revolution Explained: Who's In And Who's Out So Far

Price Action: BLNK shares are trading lower by 4.4% at $4.13 on the last check Thursday.