Blink Charging Co., an owner, operator and provider of electric vehicle (EV) charging equipment and services based in Miami Beach, FL, plans to acquire SemaConnect, a provider of EV charging infrastructure solutions, for $200 million. The acquisition will add nearly 13,000 EV chargers to Blink’s existing footprint, an additional 3,800 site host locations, and more than 150,000 registered EV driver members.
According to the press release, Blink will benefit from SemaConnect’s in-house research & development, hardware design and manufacturing capabilities. SemaConnect’s manufacturing facility in Maryland will allow Blink to comply with the Buy American mandates and to position itself to significantly capitalize on the $7.5 billion Biden Administration EV infrastructure bill and assist with the Administration’s goal to build out the first-ever national network of 500,000 electric vehicle chargers along America’s highways and in communities. The acquisition will also position Blink to assist the administration’s development of a national EV charging network that provides interoperability among different charging companies, and is user-friendly, reliable and accessible to all Americans.
Blink Charging Co. has deployed over 30,000 charging ports across 18 countries, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of the Company’s charging locations worldwide. With global EV purchases forecasted to rise to 10 million vehicles by 2025 from approximately 2 million in 2019, the company said in the press release that it has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets and transportation hubs.