Benzinga | May 5, 2021 09:34AM EDT

Blink Charging Announces Long Term Agreement To Deploy EV Charging Stations At Fattal Hotel Group Locations In Israel

Blink Charging Co. (NASDAQ:BLNK, BLNKW))))) ("Blink" or the "Company"), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, announced today that it has signed a long term contract to deploy its EV charging stations at Fattal Hotels across Israel. The EV charging equipment will be owned and operated by Blink. Fattal is one of Israel's leading hotel companies, with luxury hotels in 14 major tourist locations, serving more than a million of tourists a year.

"We're excited to partner with the Fattal Hotel Group to expand Blink's presence in Israel. The EV market in Israel is growing steadily, and the deployment of our industry leading EV charging stations will provide a fast and convenient charging option for hotel guests as well as the many tourists who visit the vacation destinations where these hotels are located. As more drivers choose EVs, it can be expected that when they travel, they will increasingly seek hotels that can accommodate their charging needs," commented Michael D. Farkas, Blink Founder and CEO. "This is another step in the beginning of our strategic and rapid international expansion plans."

"Fattal Hotels are known for the high-end amenities they provide their guests, and we're excited to partner with them to provide our premier EV charging solution. Our exclusive agreement with Fattal is a seven-year contract with a five-year extension, utilizing our owner/operator model, and we look forward to proving our capabilities with the goal of expanding to more Fattal locations as we move through our contract term," said Marc Berger, Managing Director at Blink Charging.

According to a report published by Samuel Neaman Institute for National Policy Research entitled, "Electric Vehicles Charging Infrastructure in Israel," tens of thousands of public charging stations will be needed within less than a decade. By 2025, it is estimated more than 25,000 EV public charging points will be required, with Tel Aviv, Haifa, Jerusalem, and Rishon LeZion municipalities can expect demand for hundreds of public charging stations within less than a decade. Blink's agreement with Fattal Hotel Group will be able to help fill this growing need for publicly available charging infrastructure.