Blink Charging Co., an owner, operator, and provider of electric vehicle charging equipment and services, acquired the European EV charging operator Blue Corner N.V., based in Antwerp, Belgium, and its portfolio of charging ports and European network. The acquisition was made with a combination of cash and stock for €20 million (or approximately $24 million) and gives Blink complete operational control of Blue Corner and its EV charging assets. The acquisition is part of Blink’s broader strategic international expansion plans and provides the company a significant infrastructure footprint in the region. Blue Corner chargers are located across Belgium Luxemborg, the Netherlands and France.
Blink founder and chief executive officer Michael D. Farkas commented, “EVs enjoy a much higher market share in Europe. This brings increased utilization for EV charging stations. In addition, the historically higher price of fuel makes driving an EV a stronger value proposition for drivers. We are very excited about this acquisition and the opportunity it provides Blink to have a significant presence in Europe quickly. As a key contributor to the expanding EV landscape, we are continuously looking for opportunities to strategically increase our global assets while also making EV charging more accessible.”
Peter Buyckx, managing director of Blue Corner, commented, “Blue Corner’s mission is to build a sustainable society and be ready for tomorrow’s driver. Since Blink shares this philosophy, it was a logical step to join forces. I am convinced that Blue Corner, as part of Blink Charging, can acquire a strong market presence throughout Europe. This acquisition allows us to significantly strengthen both our financial and organizational structure.”
To facilitate Blink’s European expansion, the company also announced the formation of Blink Holdings B.V., a new Dutch company in Amsterdam.