Blink To Deploy 15 New EV Charging Stations In Illinois, Backed By $2 Million State Grant

Blink Charging Co. BLNK disclosed that it has received a nearly $2 million grant from the Illinois Environmental Protection Agency.

This funding will enable Blink to own and operate EV chargers in the state of Illinois, facilitating public charging solutions for employees, residents, and visitors.

Under this grant, the Illinois EPA will cover part of the eligible expenses for new commercial-grade DC Fast Chargers and Alternating Current Level 2 charging stations to be installed at publicly accessible locations throughout Illinois.

Once completed, the project will feature 15 new Blink charging stations across five sites in Illinois, including 10 DC fast chargers with 180kW capacity and five Dual Port Level 2 stations (10 ports total). Blink is contributing a 30% cost share to the program.

Furthermore, Blink will offer a range of services, including site assessment and preparation, installation, maintenance, repair, parts and supplies, warranties, and product training.

Mike Battaglia, CEO-Elect at Blink Charging, said, “This project represents another example of Blink leveraging external capital to efficiently install, own, and operate EV charging infrastructure, and we are grateful for the state’s trust and our shared vision.”

This month, Blink Charging partnered with Stable Auto to enhance EV charging services, improving app accuracy and charger listings.

Investors can gain exposure to the stock via WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund WBAT.

Price Action: BLNK shares are down 1.41% at $2.10 at the last check Wednesday.

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