Sam Boughedda

Investing.com — Blink Charging Co (NASDAQ:) and SG Blocks announced they will collaborate to use Blink’s EV charging equipment and network in SG Blocks’ modular designs, expanding on the previous agreement from last year.

The deal includes SGDC which is SG Blocks real estate subsidiary. Blink will also be using its electric vehicle charging equipment in future developments. Over 300 EV charging stations will be installed at the SGDC Lago Vista site, Texas.

Blink shares dropped to $30.12 on Friday, but have since recovered most of their losses. They are currently down 0.33% from the close. 

Michael Farkas (CEO of Blink Charging) stated that “we couldn’t imagine a better way to start-off our relationship avec SG Blocks than Lago Vista, Austin, Texas.” Austin is the epicenter of innovation, and Texas is at the forefront in electric vehicle technology.

Blink will include SGDC in the deal as it seeks to expand residential services and take advantage of infrastructure bills that encourage electric vehicle adoption. 

SG Blocks stated that it will use Blink EV charging services to develop infrastructure projects and transit. The two companies are currently in the process of completing due diligence for a transit project. 

“We intend to dedicate the time and resources to grow in this space,” said Paul Galvin, chairman & CEO of SG Blocks. “We will be opportunistic in public and transit-oriented developments.”