Charging Electric Vehicles for Over 20 Years
Blink's parent company, ECOtality, Inc. (NASDAQ:ECTY) has been in the electric transportation and storage business since 1989, and is a recognized leader in the research, development and testing of advanced transportation and energy systems. Specializing in alternative-fuel, hybrid and electric vehicle (EV) infrastructure, ECOtality is committed to developing and commercially advancing clean electric technologies with clear market advantages. The company's Minit-Charger™ fast battery charging systems, allow for faster charging with less heat generation and longer battery life than conventional chargers, and have become the industry standard for everything from EVs, to airport ground support equipment and material handing applications.
When the federal government decided to invest significantly in electric vehicle (EV) infrastructure under The EV Project, it chose ECOtality as the project manager. ECOtality will oversee the installation of 15,000 commercial and residential Blink charging stations in 16 cities and major metropolitan areas in six states and the District of Columbia. The project will provide an EV infrastructure to support the deployment of 8,300 EVs. The project is funded by the U.S. Department of Energy through a federal stimulus grant of $114.8 million, made possible by the American Recovery and Reinvestment Act (ARRA). The grants are matched by private investment, bringing the total value of the project to approximately $230 million.
In addition to the initial 15,000 Blink commercial and residential charging stations installed within The EV Project, the company sells Blink residential chargers to EV owners and is aggressively pursuing commercial and publicly available Blink EV charging sales, projects and opportunities nationwide.