What's Going On With Blink Charging Stock On Tuesday?

Blink Charging Co. BLNK shares saw an uptick in Tuesday’s trading following the announcement of a significant contract win in the U.K.

The company has been named the preferred bidder, subject to contract execution, by Brighton & Hove City Council for a 15-year agreement worth over £500,000 (~$646,370).

This contract will involve the installation of a minimum of 350 electric vehicle chargers, expanding the city’s EV infrastructure.

This new contract marks a significant milestone, as it will be one of the first awarded through the U.K.’s Local Electric Vehicle Infrastructure Fund, or the LEVI fund.

The LEVI fund, designed to support local authorities in the expansion of public EV charging stations, is a key initiative to help the U.K. achieve its net-zero goals and promote sustainable transport solutions.

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Blink Charging’s work will complement its existing network of over 400 chargers already operating across Brighton & Hove.

Alex Calnan, Managing Director of Blink Charging UK, expressed excitement about continuing the partnership with BHCC, highlighting the company’s successful five-year history in the region.

Mike Battaglia, President and CEO of Blink Charging, emphasized the company’s commitment to supporting local governments and advancing the adoption of electric vehicles through reliable, high-quality charging infrastructure.

This contract is part of Blink’s broader strategy to expand its presence in the U.K., Europe, and globally, as it collaborates with local authorities, businesses, and developers to build sustainable energy solutions for the future of transportation.

Price Action: BLNK shares are trading higher by 1.10% to $0.9326 at last check Tuesday.

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