Blink charging (blnk – Free Report), a global leader in electric vehicle (EV) charging equipment and services, has announced a partnership with Catalyst Power Holdings LLC, an integrated provider of cleaner energy solutions for the commercial and industrial sectors. The collaboration aims to provide EV charging services to businesses in the Northeast and Mid-Atlantic regions, expanding Catalyst’s existing suite of clean energy solutions.
Catalyst Power’s current offerings include custom-priced energy services, connected microgrids, free onsite solar viability assessments, and community solar. These cleaner energy solutions enable companies to reduce energy costs, monetize their roofs, achieve sustainability goals and ensure energy flexibility. The addition of Blink’s EV charging services, which are available in a variety of deployment configurations, will further enhance Catalyst’s portfolio.
Brendan Jones, president of BLNK, said, “We expect a significant increase in the number of EVs on our roads and highways in the coming years. Commercial and industrial businesses, and their parking lots, service EV drivers – as customers, clients, or employees – as part of the overall charging infrastructure. will be a critical component. We are excited to work with Catalyst Power to provide those businesses with the most advanced EV charging solutions on the market.”
Catalyst Power uses a proprietary technology platform to deliver clean energy solutions to small to industrial-sized businesses. Their services range from connected microgrids and community solar subscriptions to retail clean energy, onsite solar and EV charging. By incorporating advanced data analytics, Catalyst Power can identify, underwrite, fund and deliver cost-effective onsite energy projects for their retail energy customers.
The partnership between blink charging and catalytic power has important implications for BLNK stock. Demand for charging infrastructure is also expected to increase as the adoption of EVs increases. This collaboration positions Blink Charging to capitalize on this growing market, potentially having a positive impact on revenue growth and its stock performance.
Investors in BLNK should closely monitor the progress of this partnership and its impact on the expansion of EV charging services for commercial and industrial businesses. As the collaboration gains traction and captures a larger market share, it can contribute to the long-term growth of both Blink Charging and Catalyst Power, ultimately benefiting BLNK stockholders.
Zacks Rank and Key Selection
Blink Charging currently carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for BLNK’s 2023 bottom line has remained unchanged over the past 60 days.
There are some well-ranked players in the auto space Geely Automobile Holdings Limited (GELYY – free report), BYD COMPANY LIMITED (will be – free report) and Ferrari NV (race – Free Report), all of which currently sport a Zacks Rank #1 (Strong Buy). You can see Here’s a complete list of today’s Zacks #1 Rank stocks.
Geely is involved in automobile manufacturing and related sectors. The Zacks Consensus Estimate for GELYY’s 2023 sales and earnings implies year-over-year growth of 57.5% and 7.4%, respectively.
BYD is engaged in research, development, manufacturing and distribution of automobile, secondary rechargeable batteries, and mobile phone components. The Zacks Consensus Estimate for BYDDY’s 2023 sales indicates year-over-year growth of 175%.
Ferrari is involved in the design, manufacture and sale of sports cars. The Zacks Consensus Estimates for RACE’s 2023 sales and earnings indicate year-over-year growth of 14% and 19.8%, respectively.
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