SGBX stock rose in early trading on October 16, 2020, after the company announced an agreement with Blink.
SG Blocks, Inc. (NASDAQ: SGBX) a leading designer, innovator and fabricator of container-based structures, and Blink Charging Co. (NASDAQ: BLNK), a leading owner and operator of electric vehicle (EV) charging equipment and services, today jointly announced that they entered into an exclusive Master Development and Production Agreement pursuant to which Blink’s EV charging solutions will be deployed along with SG Blocks’ container-based modular building structures. The Agreement brings together two industry leaders and natural allies to deploy a rapid and cost-effective innovative EV charging solution. The EV charging containers will be designed to provide off-grid charging solutions through a combined solar and battery components in multiple capacities.
“By deploying our leading EV charging technology in SG Blocks’ modular structures, Blink expects to be able to greatly increase our geographic footprint supporting the growing number of electric vehicles and the need for increased charging locations,” said Michael D. Farkas, Founder and Chief Executive Officer of Blink. “SG Blocks provides a turn-key solution that is durable and environmentally friendly. It provides the unique ability to deploy EV charging stations quickly and effectively.”
“It is an honor to be working with Michael and the team from Blink on this natural alliance of sustainably focused firms. We are excited to partner with Blink to provide a rapid, clean, and durable solution that facilitates Blink’s growth in the EV charging market,” said Paul M. Galvin, Chairman & CEO of SG Blocks. “As we mobilize to deliver our modular solutions to Blink, together, we are helping our joint customers minimize their carbon footprint and maximize their lifestyles.”
With this Master Development and Production Agreement, Blink and SG Blocks plan to co-develop 20-foot and 40-foot solar-powered containers, with Blink’s IQ 200 and DCFC charging stations. The 20-foot container will host four 80-amp charging stations, and the 40-foot container will support eight 80-amp charging stations.
SG Blocks will provide code compliant industrial design, architecture, and engineering specifications for the modular structure. Blink will provide all design, engineering specifications, and parameters of EV charging services and their operation.