Blink Charging and DSPOne to Integrate Proprietary EV Technology for U.S. and Asia
Miami Beach, FL, June 07, 2018 (GLOBE NEWSWIRE) — Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink”), a leading owner, operator and provider of electric vehicle (“EV”) charging equipment and networked EV charging services and DSPOne Co, Ltd., (“DSP”) a South Korean manufacturer of state of the art electric charging equipment for motorcycles, motorbikes, and scooters and developers of sophisticated telecommunications tracking and monitoring systems, announced today plans for a joint venture to expand their respective EV charging infrastructure market share worldwide.
Blink and DSP signed a Letter of Intent to form a joint venture to facilitate the introduction of Blink’s products and services into southeast Asia and DSP’s charging systems into the U.S.
Blink has collectively deployed more than 14,000 electric vehicle charging stations in locations throughout the U.S. and the DSP partnership will enable Blink to expand its operations into South Korea and throughout southeast Asia. To facilitate this expansion, Blink will provide its business model offerings together with its proprietary hardware, the cloud-based Blink Network, and will assist DSP in marketing the Blink stations and network services.
“We believe the world is reaching a tipping point where electric vehicles will be affordable, accessible, and profitable,” said Blink’s Founder and Executive Chairman Michael D. Farkas. “Our partnership with DSP will allow us widespread access to EV drivers in marquee locations throughout South Korea and southeast Asia and with government, large land owners, and premiere property owners. This partnership is a tremendous opportunity, as we are able to expand our efforts on the global stage without spending any of Blink’s capital.”
“I regard DSP’s joint venture with Blink as a major step toward its expansion into the lucrative U.S. market and am confident that DSP will be successful in introducing the Blink line of charging products into the booming Asian markets,” said DSPOne Chairman and CEO Dongho Hong. “We are both aware of the robust demand for electric vehicles of all types throughout southeast Asia, but especially in Korea and Vietnam. Blink’s experience in the EV industry and its advanced cloud technology when combined with DSP’s research and development capabilities and its highly regarded suite of charging systems, will prove beneficial for the shareholders of both companies.”
About Blink Charging
Blink Charging Co. (NASDAQ: BLNK, BLNKW) is one of the leaders in nationwide public electric vehicle (EV) charging equipment and services, enabling EV drivers to easily charge at locations throughout the United States. Headquartered in Florida with offices in Arizona and California, Blink Charging’s business is designed to accelerate EV adoption.
Blink Charging offers EV charging equipment and connectivity to the Blink Network, a cloud-based software that operates, manages, and tracks the Blink EV charging stations and all the associated data. Blink Charging also owns and operates EV charging equipment predominantly under the Blink brand, as well as using a number of other charging station equipment manufacturers such as ChargePoint, General Electric (GE) and SemaConnect. Blink Charging has strategic property partners across multiple business sectors including multifamily residential and commercial properties, airports, colleges, municipalities, parking garages, shopping malls, retail parking, schools, and workplaces.
About DSPOne Co., Ltd.
DSPOne is Korea’s leading provider of digital signal processing. DSPOne’s technology has accumulated from 2G to 5G. DSPOne has broadened its business scope to IoT platform, Electric motorcycle, EV charging system and Smart Energy based on digital signal processing technology. Geographically, DSPOne is expanding its business area from South Korea to Southeast Asia such as Vietnam.
DSPOne is working with government-owned agencies to create Korea’s PM (Personal Mobility) charger standard. DSPOne’s electric two-wheeled vehicle and small electric four-wheeled vehicle’s battery-swap charging station is established a business model to reduce the energy of the charging station through the interlocking with solar power generation facilities.
DSPOne has approximately forty (40) global business partners. Some of their local partners include Korea Telecom (KT), SK Telecom, Korea Highway Corporation, Land & Housing (LH) Corporation, Korea Industrial Complex Corporation, and Korea Post. For more information about DSPOne, please visit www.dspone.co.kr.
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. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging Co., 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, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.