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Blink Charging (BLNK) Stock Pops Higher After SemaConnect Deal

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Updated: 06 August 2020

Blink Charging Co (NASDAQ:BLNK) has today announced an interoperability deal with SemaConnect that will see customers be able to roam seamlessly between charging networks.

Blink Charging, who provide electric vehicle charging equipment and SemaConnect, a provider of electric vehicle solutions in North America said the deal will commence in 2021.

The companies said that customers won’t need additional cards or accounts to use either of their charging networks. They hope the deal will provide customers with confidence in the range that customers can travel wit their electric vehicles by “expanding available charging infrastructure utilizing the interoperability agreement, to more than 15,000 units, located at apartment buildings, workplaces, hospitals, universities, municipalities, and retailers.”

The announcement has seen Blink’s share price pop almost 3% higher premarket to $12.97 per share.

It has been a positive week for Blink, with its share price gaining 30% so far. On Tuesday the company also announced a deal with Cushman & Wakefield that will see Blink deploy vehicle charging stations across its sites.

“This is an important milestone for Blink,” said Brendan Jones, COO of Blink. “We have long advocated for the adoption of equipment and network interoperability to create a nationwide infrastructure of chargers that are more convenient and reliable for customers. We believe this partnership will be beneficial to our members and customers and we look forward to building on this collaboration to further expand our EV charging footprint.”