What changed in this filing

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Item 1. Business

2025-04-09 compared with 2024-03-18 · 264 added, 365 removed, 345 unchanged (65% of the section changed)

Charging Co., through its consolidated subsidiaries, is a leading manufacturer, owner, operator, and provider of electric vehicle

(“EV”) charging equipment and networked EV charging services in the rapidly growing U.S.

and international markets for EVs.

Blink offers residential and commercial EV charging equipment and services, enabling EV drivers to recharge at various locations.

principal line of products and services is its Blink EV charging networks (the “Blink Networks”) and Blink EV charging equipment,

also known as electric vehicle supply equipment (“EVSE”), and other EV-related services.

The Blink Networks are a proprietary,

cloud-based system that operates, maintains, and manages Blink charging stations and handles the associated charging data, back-end operations,

and payment processing.

The Blink Networks provide fleets, property owners, managers, parking companies, and state and municipal entities

(“Property Partners”), among other types of commercial customers, with cloud-based services that enable the remote monitoring

and management of EV charging stations.

The Blink Networks also provide EV drivers with vital station information, including station

location, availability, and fees (as applicable).

Blink Charging Co., through its consolidated subsidiaries, is a leading owner, operator, provider, and manufacturer

of electric vehicle (“EV”) charging equipment and networked EV charging services in the rapidly growing U.S.

and international

markets for EVs.

Blink offers EV charging equipment and services, enabling EV drivers to recharge at various locations.

Blink’s principal line of products and services is its Blink EV charging networks (the “Blink Networks”) and Blink EV

charging equipment, also known as electric vehicle supply equipment (“EVSE”), and other EV-related services.

The Blink Networks

are a proprietary, cloud-based system that operates, maintains, and manages Blink charging stations and handles the associated charging

data, back-end operations, and payment processing.

The Blink Networks provide fleets, property owners, managers, parking companies, and

state and municipal entities (“Property Partners”), among other types of commercial customers, with cloud-based services that

enable the remote monitoring and management of EV charging stations.

The Blink Networks also provide EV drivers with vital station information,

including station location, availability, and fees (as applicable).

capture more revenues derived from providing EV charging equipment to commercial customers and to help differentiate Blink in the EV

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all the EV charging revenues after deducting Blink network connectivity and processing fees.

our Blink-as-a-Service model , we own and operate the EV charging station, while the

Property Partner incurs the installation costs.

The Property Partner pays us a fixed monthly

fee for the service and keeps all the EV charging revenues after deducting Blink network

connectivity and processing fees.

Our agreement with the Property owner typically lasts five

also own and operate EV car-sharing and ride-sharing programs through our wholly owned subsidiary, Blink Mobility.

These programs allow

customers to share electric vehicles through subscription services and charge those cars through our charging stations.

pursuit of our commitment to fostering the widespread adoption of electric vehicles (EVs) through the establishment and management of

EV charging infrastructure on a global scale, we remain steadfast in our dedication to mitigating climate change.

This dedication is

evidenced by our efforts to diminish greenhouse gas emissions stemming from gasoline-powered vehicles.

With the goal of being a leader

in the build-out of EV charging infrastructure and maximizing our share of the EV charging market, we have established strategic commercial,

municipal, and retail partnerships across industry verticals and encompassing numerous transit/destination locations, including airports,

auto dealers, healthcare/medical, hotels, mixed-use, municipal sites, multifamily residential and condos, parks and recreation areas,

parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs,

and workplace locations.

2023, we entered into agreements with significant new customers, including the United States Postal Service (USPS), Mack Trucks,

McArthurGlen, BluePoint, Mike Albert Fleet Solutions, Royal Farms, John Henry General Store, Moberly Motor Company, Arcos Dorados

(McDonald’s Puerto Rico), AAA, Allegiant Stadium (Las Vegas), Village of Tuckahoe (NY), Miami Beach (FL), Metropolitan

Government of Nashville-Davidson County, and Salt Lake City International Airport, that expand our potential for unit

sales and deployments.

Similarly, in 2022, we entered into agreements with significant new customers, including Mitsubishi,

Cushman & Wakefield, Triple J, Q-Park, Best Buy, UBS, Bosch Mexico, Porsche Puerto Rico and Guatemala, Veris Residential,

Greystar, Cambium, and the cities of Atlanta (GA), Rockford (IL), Newton (IA), Winslow (N.J), and Leeds (UK).

these new business relationships, we forged critical strategic relationships with organizations that directly or indirectly

influence EV charging stations purchase decisions.

Examples include the Florida Sheriff’s Association Cooperative, the State

of Utah, Illinois Region 1 Planning Council, AES El Salvador, and Vizient – the largest member-driven healthcare performance

improvement company in the United States representing more than $130 billion in annual purchasing volume.

also own and operate car-sharing and ride-sharing programs through our wholly owned subsidiary, Envoy Mobility (formerly Blink Mobility).

These programs

allow customers to share electric vehicles through subscription services and charge those cars through our charging

Blink’s wholly owned subsidiary, Envoy, filed a registration statement on Form S-1 dated February 11, 2025

to register shares in connection with its contemplated initial public offering as well as the issuance of shares to its former shareholders

in connection with Blink’s acquisition of Envoy.

pursuit of our commitment to fostering the widespread adoption of electric vehicles (EVs) through the establishment and management

of EV charging infrastructure on a global scale, we remain steadfast in our dedication to mitigating climate change.

This dedication

is evidenced by our efforts to diminish greenhouse gas emissions stemming from gasoline-powered vehicles.

With the goal of being a

leader in the build-out of EV charging infrastructure and maximizing our share of the EV charging market, we have established

strategic commercial, municipal, and retail partnerships across industry verticals and encompassing numerous transit/destination

locations, including airports, auto dealers, healthcare/medical, hotels, mixed-use facilities, municipal sites, multifamily residential and

condos, parks and recreation areas, parking lots, restaurants, retailers, schools and universities,

stadiums, supermarkets, transportation hubs, and workplace locations.

2024, we entered into agreements with significant new customers, including the City of South Lake Tahoe, Alameda City, the City of Porterville,

the Fresno Unified School District, Imperial Center, the City of Fresno, New Castle County, Maryland Department of General Services,

Sonepar, and CED.

Similarly, in 2023, we entered into agreements with significant new customers, including the United States Postal Service

(USPS), Mack Trucks, McArthurGlen, BluePoint, Mike Albert Fleet Solutions, Royal Farms, John Henry General Store, Moberly Motor Company,

Arcos Dorados (McDonald’s Puerto Rico), AAA, Allegiant Stadium (Las Vegas), Village of Tuckahoe (NY), Miami Beach (FL), Metropolitan

Government of Nashville-Davidson County, and Salt Lake City International Airport, that expand our potential for unit sales and deployments.

2022, we expanded our presence through the acquisitions of SemaConnect and Electric Blue, establishing new offices in Bowie, Maryland,

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hubs to support our international expansion into new regions.

of December 31, 2023, we sold or deployed 89,825 chargers, of which 72,418 were in the Blink Networks (244 Level 1 publicly accessible

commercial chargers, 44,673 Level 2 publicly accessible commercial chargers, 5,569 Level 2 private commercial chargers, 667 DC Fast Charging

EV publicly accessible chargers, 36 DC Fast Charging EV private chargers, and 525 residential Level 2 Blink EV chargers, inclusive of

20,704 chargers pending to be commissioned).

Included in the Blink Networks are 5,150 chargers owned by us.

The remaining 17,407 were

non-networked, on other networks or international sales or deployments (761 Level 2 commercial chargers, 16 DC Fast Charging chargers,

12,224 residential Level 2 Blink EV chargers, 2,938 sold to other U.S.

of December 31, 2024, we contracted, sold or deployed 109,596 chargers, of which 87,500 were on Blink Networks (comprised of 61,625 Level

2 commercial chargers, 1,392 DCFC commercial chargers, 691 residential chargers, and 23,792 chargers pending to be commissioned).

on Blink Networks are 6,867 chargers owned by us.

The remaining 22,096 not on Blink networks were on other networks, international sales, or

deployments (comprised of 5,155 Level 2 commercial chargers, 75 DC Fast Charging chargers, 12,298 residential Level 2 Blink EV chargers,

2,861 sold to other U.S.

networks and, 1,707 sold internationally).

charger units noted above are net of swap-out or replacement units.

Blink networked chargers include public and private chargers, as

designated by stations owners, and are net of swap-outs, replacement units, and decommissioned units.

Certain commercial chargers include

chargers installed in residential settings for commercial purposes.

All chargers, including at all international Blink locations, are

categorized based on US Department of Energy guidelines.

an EV charging station leader, we understand our corporate social responsibility and remain steadfast in our commitment to fostering

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As our technology advances, we are devoted to implementing recycling programs aimed at repurposing older products.

plug-in electric vehicle market experienced significant growth in recent years with EV adoption hitting an all-time high of 7.8% in 2023

in the U.S., as reported by BNEF.

Anticipating sustained momentum, we foresee continued growth throughout 2024, propelled by the introduction

of new EV models into the market as automotive manufacturers continue to scale production of EVs.

Sales projections indicate a trajectory

of ongoing increase, buoyed by technological advancements, heightened competition, and a trend of declining prices.

addition, we believe the advancements made in battery technologies will allow EVs to achieve approximate cost parity with internal combustion

engine vehicles and will extend driving range and consumer confidence moving the market away from range anxiety toward range confidence,

creating further consumer demand.

Administration and private companies’ increasing focus on climate related initiatives and their large-scale commitment

and investment in developing and expanding the EV charging infrastructure are making it easier for drivers to own and use EVs.

demand for electric vehicles has been further propelled by government incentives and regulations at federal, state, and local levels.

It is anticipated that government agencies worldwide will persist in offering incentives to promote EV purchases, while continuing to

roll out regulations aimed at reducing emissions and incentivizing the adoption of clean energy vehicles.

federal level,

the Bipartisan Infrastructure Law provides $7.5 billion for EV charging network development across the United States for both DCFC and

Level 2 chargers.

At the state level, California, Oregon, New York, Maryland, and Massachusetts among other states, have created mandates

for EVs to achieve more than 6.8 million EVs on the road by 2030 and many states provide additional EV incentives to consumers.

a shift towards EV car-sharing has boosted the transition to EV fleets, leading to increased EV charging station demand.

is expected to be a year of increasing numbers of EV models available and improved infrastructure to support them.

In 2023, many auto

traditional and new manufacturers such as Mercedes, Ford, General Motors, BMW, Fisker, BYD, Lucid, and Rivian brought new electric vehicle

models and ramped up production of existing models.

pioneers in the EV charging industry, we continue to lead as market demands for a robust charging infrastructure increase.

only EV charging company based in the United States to offer complete vertical integration from research and development and manufacturing

to EV charger ownership, operations and services.

This vertical integration creates significant opportunities to control our supply chain

and accelerate our go-to-market speed while reducing operating costs.

We believe this opportunistically positions us to meet this demand

both domestically and globally.

plug-in electric vehicle market experienced significant growth in recent years with EV adoption hitting an all-time high of 7.8% in 2023

in the U.S., as reported by BNEF.

Anticipating sustained momentum, we foresee continued growth throughout 2024, propelled by the introduction

of new EV models into the market as automotive manufacturers continue to scale production of EVs.

Sales projections indicate a trajectory

of ongoing increase, buoyed by technological advancements, heightened competition, and a trend of declining prices.

addition, we believe the advancements made in battery technologies will allow EVs to achieve approximate cost parity with internal combustion

engine vehicles and will extend driving range and consumer confidence moving the market away from range anxiety toward range confidence,

creating further consumer demand.

Administration and private companies’ increasing focus on climate related initiatives and their large-scale commitment

and investment in developing and expanding the EV charging infrastructure are making it easier for drivers to own and use EVs.

demand for electric vehicles has been further propelled by government incentives and regulations at federal, state, and local levels.

It is anticipated that government agencies worldwide will persist in offering incentives to promote EV purchases, while continuing to

roll out regulations aimed at reducing emissions and incentivizing the adoption of clean energy vehicles.

federal level,

the Bipartisan Infrastructure Law provides $7.5 billion for EV charging network development across the United States for both DCFC and

Level 2 chargers.

At the state level, California, Oregon, New York, Maryland, and Massachusetts among other states, have created mandates

for EVs to achieve more than 6.8 million EVs on the road by 2030 and many states provide additional EV incentives to consumers.

a shift towards EV car-sharing has boosted the transition to EV fleets, leading to increased EV charging station demand.

changes in the regulatory and incentive environments, the U.S.

EV market continues to progress maintaining momentum

in new car sales and adding vehicles to the overall installed base.

According to Cox Automotive’s Kelley Blue Book, sales of electric

vehicles in U.S., increased 15.2% in the fourth quarter of 2024 to 365,824 units, becoming the new quarterly record.

in the new EV sales market is also supported by the significant investments by auto Original Equipment Manufacturers (“OEMs”).

The Environmental Defense Fund reported on

January 8, 2025, that by the end of 2024, auto manufacturers announced $197.6 billion in investment in US EV battery manufacturing

facilities of the last decade.

The announced funding is for 229 distinct manufacturing investments at 208 different facilities.

has begun at 57 of those projects, which are supporting more than 50,000 jobs.

More than 100 projects were under construction, which

makes it a total of 69% of all projects are now showing of-the-ground results.

contributing factor to charging demand for EVs are sales of used vehicles.

According to the Bay State Banner, a Massachusetts publication,

used EV car sales in November 2024 alone grew 61.3% nationally.

This trend reflects positively on Blink as used EVs are increasingly

purchased by individuals who reside in multi-family dwellings and reply on public charging and on-site commercial charging for their

charging needs.

addition, we believe that advancements made in battery technologies are allowing EVs to achieve approximate cost parity with internal

combustion engine vehicles and will extend driving range and consumer confidence moving the market away from range anxiety toward range

confidence, creating further consumer demand.

For example, Chevrolet started selling an electric Equinox SUV model for under $35,000,

which makes it attractive for entry level buyers.

is expected to be a year of increasing numbers of EV models available and improved infrastructure to support them.

In 2023, many auto

traditional and new manufacturers such as Mercedes, Ford, General Motors, BMW, Fisker, BYD, Lucid, and Rivian brought new electric vehicle

models and ramped up production of existing models.

pioneers in the EV charging industry, we continue to lead as market demands for a robust charging infrastructure increase.

only EV charging company based in the United States to offer complete vertical integration from research and development and manufacturing

to EV charger ownership, operations and services.

This vertical integration creates significant opportunities to control our supply chain

and accelerate our go-to-market speed while reducing operating costs.

We believe this opportunistically positions us to meet this demand

both domestically and globally.

In 2024, many traditional

and new auto manufacturers have introduced new EV models such as the Hyundai Ioniq 5, Kia EV9, Hyundai Ioniq 6, Honda Prologue, Polestar

2, and Hyundai Kona Electric, Cadillac Vistiq, and others.

EV Charging Solutions

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We offer a wide range of Level 2 (AC) EV charging equipment, ideal for commercial

and residential use, with the North American standard J1772 connector, the North American

and residential use, with the North American universal J1772 connector, the North American

Charging Standard (NACS) connector, and the Type 2 connector compatible with electric vehicles

in Europe and across Latin America.

commercial Level 2 chargers consist of the EQ, HQ, MQ, and IQ 200 families and the Series

4, 6, 7, and 8 families, which are available in pedestal, wall mount, and pole mount configurations.

The MQ and IQ 200, along with the Series 6, 7, and 8 chargers offer an optional cable management

Additionally, we offer three residential Level 2 chargers for the Americas:

the wall-mounted

HQ 200, Series 4, and a smart charging cable, the PQ 150, designed for European markets.

Our commercial and residential chargers (except the non-networked HQ 150) can connect to

the Blink Networks or a local network.

Level 2 charging stations typically provide a full

charge in two to eight hours.

Level 2 chargers are ideally suited for low-cost installations

and frequently used parking locations, such as workplaces, multifamily residential, retail,

hospitality, and mixed-use, parking garages, municipalities, colleges/schools, hospitals

and airports.

commercial Level 2 chargers consist of the EQ, MQ, and the Series 6, 7, and 8 families, which

are available in pedestal, wall mount, and pole mount configurations.

The MQ along with the

Series 6, 7, and 8 chargers offer an optional cable management system.

Additionally, we offer

three residential Level 2 chargers for the Americas:

the wall-mounted HQ 200, and

a smart charging cable, the PQ 150, designed for European markets.

Our commercial and residential

chargers can all connect to the Blink Networks for a wide range of software solutions.

2 charging stations typically provide a full charge in five to ten hours.

Level 2 chargers

are ideally suited for low-cost installations and frequently used parking locations, such

as workplaces, multifamily residential, retail, hospitality, and mixed-use, parking garages,

municipalities, colleges/schools, hospitals and airports.

■ International

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to the electricity grid is not available.

We offer a complete line of DC Fast Charging equipment (“DCFC”) that ranges

from 30kW to 360kW, supports the ‘CHAdeMo’ , CCS1, and NACS connectors,

We offer a complete line of DC Fast

Charging equipment (“DCFC”) that ranges from 30kW to 600kW, supports the ‘CHAdeMo’, CCS1, and NACS connectors,

and typically provide an 80% charge in less than 30 minutes.

Installation of DCFC stations

and grid requirements are typically greater than Level 2 charging stations and are ideally

suited for transportation hubs and locations between travel destinations.

These include the

Series 9 30kW DC Fast Charger that works ideally for the fleet and auto dealership segments

and is available in wall and pedestal mount configurations, the Blink 30kW DC Fast Charger

that boasts a small footprint providing up to 100 amps of output, and the Blink 60kW –

360kW DC Fast Charger that provides from 140 to 500 amps of power.

Installation of DCFC stations and grid requirements are typically greater

than Level 2 charging stations and are ideally suited for dense metropolitan areas and locations between long distance travel destinations.

include the Series 9 40kW DC Fast Charger that works ideally for the fleet, auto dealership, and retail segments and is available

in wall and pedestal mount configurations, the Blink 60kW-360kW All-in-One DC Fast Chargers, and Distributed Cabinet and Dispenser DC

Fast Chargers up to 600kW.

The Blink Network is a cloud-based platform that manages our network of EV chargers

around the world for remote monitoring, management, payment processing, customer support,

and other features required for operating the Blink Networks of EV charging locations.

load management, roaming, and other features required for operating the Blink Networks of

EV charging locations.

Charging Mobile App .

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Contracts with Property Owners.

We have strategic and often long-term agreements that include location exclusivity with Property

Partners across numerous transit/destination locations, including airports, car dealers, healthcare/medical, hotels, mixed-use, municipal

locations, multifamily residential and condo, parks and recreation areas, parking lots, religious institutions, restaurants, retailers,

schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

Property Partners include well-recognized

companies, large municipalities and local businesses.

Representative examples include the City of Miami Beach, City of Chula Vista, City

of Phoenix, City of Portland, City of Knoxville, City of San Antonio, City of Leeds (UK), University of San Diego, Ohlone College, ACE

Parking, Q-Park, Icon Parking, SP+ Parking, iPark, LAZ Parking, Reef Parking, Federal Realty, Equity Residential, Related Group, Johnson

& Johnson, Kaiser Permanente, Blessing Healthcare, Sony Pictures Entertainment, Starbucks, JBG Associates, Kroger Company, Fred Meyer

Stores, Inc., Fry’s Food & Drug, Inc., Raising Cane’s, McDonald’s, Carl’s Jr., Burger King, Walgreens and

Ralphs Grocery Company.

We continue to generate new contracts with Property Partners that previously secured our services independently

or had contracts with the EV service providers that we acquired in the past.

We have strategic and often long-term agreements that include location exclusivity with

Property Partners across numerous transit/destination locations, including airports, car dealers, healthcare/medical, hotels,

mixed-use facilities, municipal locations, multifamily residential and condo, parks and recreation areas, parking lots, restaurants,

retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

Property Partners include

well-recognized companies, large municipalities and local businesses.

Representative examples include the City of Miami Beach, City

of Chula Vista, City of Phoenix, City of Portland, City of Knoxville, City of San Antonio, City of Leeds (UK), University of San

Diego, City of San Diego, Ohlone College, ACE Parking, Q-Park, Icon Parking, SP+ Parking, iPark, LAZ Parking, Reef Parking, Federal

Realty, Equity Residential, Related Group, Johnson & Johnson, Kaiser Permanente, Blessing Healthcare, Sony Pictures

Entertainment, Starbucks, JBG Associates, Kroger Company, Fred Meyer Stores, Inc., Fry’s Food & Drug, Inc., Raising

Cane’s, McDonald’s, Carl’s Jr., Burger King, Walgreens and Ralphs Grocery Company.

We continue to generate new

contracts with Property Partners that previously secured our services independently or had contracts with the EV service providers

that we acquired in the past.

Integrated Supply Chain, Engineering and Manufacturing.

With the acquisition of SemaConnect, we have become a fully vertically

We are a fully vertically

integrated charging equipment and software provider, among the few in the world.

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and Control of EV Charging Stations and Services.

We own a considerable percentage of our charging stations, which is a significant

differentiation between us and some of our primary competitors.

This ownership model allows us to control the settings and pricing for

our EV charging services, service the equipment as necessary, and have more effective brand management and price uniformity.

stations that we do not own, we are using our best efforts to encourage their owners to keep the stations operating in good order and,

in some cases, to replace faulty stations with our new charging station equipment.

Ownership of EV charging stations and services allows us to control the

settings and pricing for our EV charging services, service the equipment as necessary, and have more effective brand management and price

As for those stations that we do not own, we are using our best efforts to encourage their owners to keep the stations operating

in good order and, in some cases, to replace faulty stations with our new charging station equipment.

Growth Strategy

objective is to continue becoming a vertically integrated and leading provider of EV charging solutions by deploying mass-scale EV charging

objective is to continue becoming a leading provider of EV charging solutions by deploying mass-scale EV charging

infrastructure.

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features of our EV charging station hardware and Blink Networks.

are equally focused on analyzing our network uptime and reliability and dedicating resources to improve these areas.

We believe that

improvement on these metrics is critical for the EV charging industry and its continuous growth as EV owners and considerers need to

have confidence in the infrastructure for charging.

are equally focused on analyzing our network uptime and reliability and dedicating resources to maintaining network uptime.

Strategic Opportunities to Expand Blink-Owned Turnkey and Hybrid Models.

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grant or rebate funds are available, and where we can realize long-term benefit for the EV

charging location to establish long-term recurring revenue.

charging location to establish long-term recurring revenue in the US, European Union, and UK.

to Invest in Technology Innovations .

We will continue to enhance the product offerings

available in our EV charging hardware, cloud-based software, and networking capability.

October 2022, we unveiled our all-new Blink Networks and Blink Charging Mobile Apps (Android

and iOS), redesigned from the ground-up, with industry-leading architecture, improving reliability,

user experience and flexibility capable of iterating as the industry matures.

The new Network

can serve a wide variety of EV equipment, languages, currencies, and applications, allowing

Blink to stay competitive in the fast-moving EV charging landscape.

Concurrently, the new

We continue to enhance the product offerings available in our EV charging

hardware, cloud-based software, and networking capability in the US and International.

Our Networks can serve a wide variety of EV equipment,

languages, currencies, and applications, allowing Blink to stay competitive in the fast-moving EV charging landscape.

Concurrently, the

mobile app creates a seamless driver charging experience across the globe.

Our software implementation

allows us to remain technology agnostic to enable the onboarding of OCPP compliant equipment

from other manufacturers onto our newly designed network.

Our software implementation allows us to remain technology

agnostic to enable the onboarding of OCPP compliant equipment from other manufacturers onto our newly designed network.

and Support our Human Capital.

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Sales and Marketing Resources.

We intend to invest in sales and marketing infrastructure

to capitalize on market growth and expand our go-to-market strategy while maintaining a disciplined

approach to expenses.

Today, we use a direct sales force, as well as resellers and distributors,

and will continue expanding through the use of independent sales agents, utilities, contractors,

automotive manufacturers, and dealers.

intend to invest in sales and marketing infrastructure to capitalize on market growth and

expand our go-to-market strategy while maintaining a disciplined approach to expenses.

we use a direct sales force, as well as maintaining relationships with notable resellers

and electrical equipment distributors.

Strategic Acquisition Opportunities.

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with new growth capital as required.

● Integration

of Four Recent Acquisitions.

On April 18, 2023,

we completed the acquisition of Envoy Technologies, Inc.

Envoy is a car sharing platform with an iOS/Android app that provides on-demand

electric vehicles as an amenity to apartments, office buildings and hotels.

The company equips real estate owners and operators with a

new and innovative way to enhance the lifestyle of their tenants, members and guests by providing “Mobility as an Amenity™

service,” a platform that offers a technology to reserve and access vehicles, driver insurance, maintenance, electric vehicle chargers,

electric fleet, fleet maintenance, full-service mobile app, customer support and robust analytics.

Envoy provides the technology, operations

and vehicles to implement private and dedicated auto-sharing as an amenity for any community.

On June 15, 2022, we completed the acquisition of SemaConnect,

Inc., a leading provider of EV charging infrastructure solutions in North America with manufacturing

facilities in both the United States and India.

Upon the closing of the acquisition, SemaConnect

became a wholly owned subsidiary of our company, allowing Blink to comply with “Buy

America” mandates and adding nearly 13,000 active chargers and over 150,000 registered

users to the Blink Networks.

On April 22, 2022, pursuant to a Sale and Purchase Agreement dated April 22, 2022, we acquired, through our wholly owned subsidiary in

the Netherlands, Blink Holdings B.V., all the outstanding capital stock of Electric Blue Limited, a private company limited by shares

and registered in England and Wales (“EB”), from its shareholders.

Headquartered in St.

Albans, United Kingdom, EB is a leading

provider of electric vehicle charging and sustainable energy solutions and technologies.

May 10, 2021, we, through our wholly owned subsidiary in the Netherlands, Blink Holdings, B.V., closed on the acquisition of the outstanding

capital stock of a Belgian company, Blue Corner NV (“Blue Corner”), from its shareholders.

Headquartered in Belgium, with

sales representative offices in several other European cities, Blue Corner owns and operates an EV charging network across Europe.

acquisition of Blue Corner was made to enter the European market and provide an opportunity to expand our footprint in this region.

sales organization builds and maintains long-term business relationships with our customers by utilizing our four core business models.

sales organization builds and maintains long-term business relationships with our customers by utilizing our three core business models.

These business models provide a high degree of flexibility to match host location goals and objectives for EV charging with our industry-leading

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Property Partner and Blink.

Sales personnel are able to pivot to traditional equipment sales or charging-as-a-service models when, and

if, a location is not identified as a promising generator of future recurring revenues.

The team strives to maintain a balance between

equipment sales that grow revenue today, and site locations that have potential to generate strong revenues in the future under our owner-operator

business models.

also engage with strategic distributor and reseller partners across a range of vertical markets both within the U.S.

Sales personnel are able to pivot to traditional equipment sales when, and if, a location is not identified

as a promising generator of future recurring revenues.

The team strives to maintain a balance between equipment sales that grow revenue

today, and site locations that have potential to generate strong revenues in the future under our owner-operator business models.

also engage with strategic electrical distributor and reseller partners across a range of vertical markets both within the U.S.

and globally.

organizations typically have unique relationships or capabilities within their respective markets and provide Blink with additional sales

opportunities.

These partnerships amplify Blink’s sales reach and are authorized to sell our EV charging hardware, software services

(connectivity to the Blink Networks), and extended warranty service plans.

are making further inroads into the residential charging station market where we sell Level 2 chargers through various internet channels,

such as Amazon, Walmart.com, BestBuy and other online retailers, to reach the single-family residential charging market in the United

2023, we entered into agreements with new major customers, including the United States Postal Service (“USPS”), Mack Trucks,

McArthurGlen, BluePoint, Mike Albert Fleet Solutions, Royal Farms, John Henry General Store, Moberly Motor Company, Arcos Dorados (McDonald’s

Puerto Rico), AAA, Allegiant Stadium (Las Vegas), Village of Tuckahoe (NY), Miami Beach (FL), Metropolitan Government of Nashville-Davidson

County, Salt Lake City International Airport, and others that expand our potential for unit sales and deployments.

Similarly, in 2022,

we entered into agreement with new major customers including Mitsubishi, Cushman & Wakefield, Triple J, Q-Park, Best Buy, UBS, Bosch

Mexico, Porsche Puerto Rico and Guatemala, Veris Residential, Greystar, Cambium, and cities of Atlanta (GA), Rockford (IL), Newton (IA),

Winslow (NJ), Leeds (U.K.) and others.

Along with these new business relationships, we forged critical strategic relationships with organizations

that directly or indirectly influence EV charging station purchase decisions.

Examples include Sustainable Westchester in New York and

Clean Cities Organizations in Virginia, Vermont, and Ohio, Florida Sheriff’s Association Cooperative, Utah State, Illinois Region

1 Planning Council, AES El Salvador and Vizient.

addition to adding sales personnel within key markets, we solidified our organizational structure through hiring talented business development

professionals and establishing a new account management team to onboard customers and maintain long-term relationships.

These organizations typically have unique relationships or capabilities within their respective markets and provide Blink with additional

sales opportunities.

These partnerships amplify Blink’s sales reach and are authorized to sell our EV charging hardware, software

services (connectivity to the Blink Networks), and extended warranty service plans.

2024, we entered into agreements with new major customers, including the City of South Lake Tahoe, Alameda City, the City of Porterville,

the Fresno Unified School District, Imperial Center, the City of Fresno, New Castle County, Maryland Department of General Services,

Sonepar, CED, Similarly, in 2023, we entered into agreements with new major customers, including the United States Postal Service (“USPS”),

Mack Trucks, McArthurGlen, BluePoint, Mike Albert Fleet Solutions, Royal Farms, John Henry General Store, Moberly Motor Company, Arcos

Dorados (McDonald’s Puerto Rico), AAA, Allegiant Stadium (Las Vegas), Village of Tuckahoe (NY), Miami Beach (FL), Metropolitan

Government of Nashville-Davidson County, Salt Lake City International Airport, and others that expand our potential for unit sales and

Along with these new business relationships, we forged critical strategic relationships with organizations that directly

or indirectly influence EV charging station purchase decisions.

in-house staff performs a variety of marketing activities.

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and conferences.

Our websites’ information is not, and will not be deemed, a part of this Annual Report or incorporated into any

Our website’s information is not, and will not be deemed, a part of this Annual Report or incorporated into any

other filings we make with the SEC.

continue to invest in improving our company-owned stations’ service and maintenance and those stations with service and maintenance

plans and expanding our cloud-based network capabilities.

We anticipate continuing to grow our revenues by (i) selling our next generation

of EV charging equipment to current as well as to new Property Partners, which includes airports, auto dealers, healthcare/medical, hotels,

mixed-use, municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions,

restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations, (ii) expanding

our sales channels to wholesale distributors, utilities, auto original equipment manufacturers (“OEMs”), solar integrators,

and dealers, which will include implementing EV charging station occupancy fees (after charging is completed, fees for remaining connected

to the charging station beyond an allotted grace period) and subscription plans for EV drivers on our company-owned public charging locations,

(iii) adding additional charging stations in locations with increasing utilization metrics, (iv) offering Blink Care (silver / gold),

and (v) offering warranty for our chargers and services.

continue to invest in improving our company-owned stations’ service and maintenance and those stations with service and

maintenance plans and expanding our cloud-based network capabilities.

We anticipate continuing to grow our revenues by (i) selling

our next generation of EV charging equipment to current as well as to new Property Partners, which includes airports, auto dealers,

healthcare/medical, hotels, mixed-use facilities, municipal locations, multifamily residential and condos, parks and recreation areas, parking

lots, restaurants, retailers, schools and universities, supermarkets, transportation hubs, and workplace locations, (ii) expanding

our sales channels to wholesale distributors, utilities, OEMs, solar integrators, and dealers, which will include implementing EV

charging station occupancy fees (after charging is completed, fees for remaining connected to the charging station beyond an

allotted grace period) and subscription plans for EV drivers on our company-owned public charging locations, (iii) adding additional

charging stations in locations with increasing utilization metrics, (iv) offering the Blink Care maintenance program, and (v)

offering extended warranties for our chargers and services.

Customers and Partners

have strategic partnerships across numerous transit/destination locations, including airports, auto dealers, healthcare/medical, hotels,

mixed use and municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions,

restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

We have hundreds

of Property Partners that include well recognized companies, large municipalities, and local businesses.

We strive to engage all Blink-owned

turnkey and hybrid property partners with exclusive EV charging contracts.

This strategy further supports our owner-operator model to

generate recurring revenue for both the Property Partner and Blink.

Representative examples are McDonald’s, Sony Pictures, Caltrans,

Audi of America, Porsche Design Tower, City of Azusa, City of Chula Vista, City of Springfield, City of Tucson, City of Fayetteville,

BJ’s Inc., Federal Realty, Fred Meyer Stores, Inc., Fry’s Food & Drug, Inc., Kana Hotel Group, Kroger Company, and Ralphs

Grocery Company.

We continue to establish new contracts with Property Partners that previously secured our services independently or

had contracts with the EV services providers that we acquired.

mixed use facilities and municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, restaurants,

retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

We have hundreds of Property

Partners that include well recognized companies, large municipalities, and local businesses.

We strive to engage all Blink-owned turnkey

and hybrid property partners with exclusive EV charging contracts.

This strategy further supports our owner-operator model to generate

recurring revenue for both the Property Partner and Blink.

Representative examples are McDonald’s, Sony Pictures, Caltrans, Audi

of America, Porsche Design Tower, City of Azusa, City of Chula Vista, City of Springfield, City of Tucson, City of Fayetteville, BJ’s

Inc., Federal Realty, Fred Meyer Stores, Inc., Fry’s Food & Drug, Inc., Kana Hotel Group, Kroger Company, and Ralphs Grocery

We continue to establish new contracts with Property Partners that previously secured our services independently or had contracts

with the EV services providers that we acquired.

revenues are primarily derived from fees charged to EV drivers for EV charging in public locations, EV charging hardware sales, government

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Such fees are calculated based on various factors, including associated station costs and local electricity

EV charging hardware is sold to our Property Partners such as InterEnergy, Green Commuter, Nashville Music Center, Wendy’s

and other Property Partners engaged with our host-owned business model.

Other income sources from EV charging services are network fees,

extended warranty fees, membership fees, and payment processing fees paid by our Property Partners.

Blink generates revenues from its

EV car-sharing program through Envoy and BlueLA, which allow customers the ability to retain electric vehicles through a subscription

teamed up with Google Maps to make locating EV charging stations straightforward and accessible.

Our charging stations are displayed

in Google Maps.

EV charging hardware is sold to our customers engaged with our host-owned business model.

Other income sources from EV charging

services are network fees, extended warranty fees, membership fees, and payment processing fees paid by our Property Partners.

generates revenues from its EV car-sharing program through Envoy and BlueLA, which allow customers the ability to retain electric vehicles

through a subscription service.

are focused on profitable international expansion and have made significant progress at expanding our business across the globe, focusing

primarily on Europe, United Kingdom, and Latin America.

June 15, 2022, we completed the acquisition of SemaConnect, Inc., a leading provider of EV charging infrastructure solutions in North

America with manufacturing facilities in both the United States and India.

Upon the closing of the acquisition, SemaConnect became a

wholly owned subsidiary of our company, allowing us to comply with “Buy America” mandates and adding nearly 13,000 active

chargers and over 150,000 registered users to the Blink Networks.

April 22, 2022, pursuant to a Sale and Purchase Agreement dated April 22, 2022, we acquired, through our wholly owned subsidiary in the

Netherlands, Blink Holdings B.V., all the outstanding capital stock of Electric Blue Limited, a private company limited by shares and

registered in England and Wales (“EB”), from its shareholders.

Headquartered in St.

Albans, United Kingdom, EB is a leading

provider of electric vehicle charging and sustainable energy solutions and technologies.

May 10, 2021, we, through our wholly owned subsidiary in the Netherlands, Blink Holdings, B.V., closed on the acquisition of the outstanding

capital stock of a Belgian company, Blue Corner NV (“Blue Corner”), from its shareholders.

Headquartered in Belgium, with

sales representative offices in several other European cities, Blue Corner owns and operates an EV charging network across Europe.

acquisition of Blue Corner was made to enter the European market and provide an opportunity to expand our footprint in this region.

Additionally,

we operate through Blink Charging Ltd.

for our expansion in Israel and Blink Hellas SA for our expansion in Greece.

We are in the process

of establishing numerous subsidiaries in Latin America as we further concentrate our international efforts.

Finally, we established a

new software development team in India, managed by our Indian subsidiary, Blink Charging Software Solutions Ltd.

EV charging equipment and service market is highly competitive, and we expect the market to become increasingly competitive as new entrants

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Other entrants into the connected EV charging station

equipment market include Flo, Volta, Clipper Creek, StarCharge, Wallbox, Freewire, Autel, and EV Connect.

equipment market include Flo, Volta, Clipper Creek, StarCharge, Wallbox, Autel, and EV Connect.

We believe these additional

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We offer our EV charging station equipment and provide access to a robust EV charging network.

have a full-time dedicated team to identify and process federal and state funding opportunities for EV charging infrastructure development.

We are committed to pursuing EV charging development grant opportunities in all 50 states.

have a full-time dedicated team to identify and process federal, state and international funding opportunities in the US, European

Union and UK for EV charging infrastructure development.

Grants for EV charging infrastructure drive sustainable mobility by

accelerating deployment, ensuring access, and supporting the transition to a zero-emission future.

We are committed to pursuing EV

charging development grant opportunities in all 50 states.

Funding sources in the U.S.

include the Department

of Energy, Department of Transportation, Department of Agriculture, the VW mitigation settlement trust fund, funding initiatives from

utility service providers and various state and local jurisdictions.

In Europe, we have a significant presence both in the European Union

and the United Kingdom through our acquisitions of Blue Corner and Electric Blue.

Our staff in Europe has significant experience in applying

and taking advantage of various European jurisdictions incentives and rebate programs.

include the Department of Energy, Department

of Transportation, Department of Agriculture, the VW mitigation settlement trust fund, funding initiatives from utility service

providers and various state and local jurisdictions.

Blink has recently completed grant projects in Maryland, New Jersey, Florida

and Delaware increasing our DCFC footprint throughout the East Coast;

with additional projects slated for deployment in 2025.

Europe, we have a significant presence both in the European Union and the United Kingdom through our acquisitions of Blue Corner and

Electric Blue.

Our staff in Europe has significant experience in applying and taking advantage of various European jurisdictions

incentives and rebate.

Related to Climate Change

March 21, 2022, the Securities and Exchange Commission (“SEC”) proposed rules mandating climate-related disclosures in companies’

annual reports and registration statements.

The proposed rules contemplate phase-in periods based on SEC filer status, with extended

phase-in periods for Scope 3 disclosures and third-party attestation requirements.

Under the direction and supervision of senior management

and with board oversight, our Environmental, Social, and Governance (“ESG”) Committee has initiated a process to implement

and maintain compliance with the SEC’s climate disclosure requirements as they are enacted.

March 21, 2022, the Securities and Exchange Commission (“SEC”) proposed rules mandating climate-related disclosures in

companies’ annual reports and registration statements.

While the SEC subsequently issued an order staying the rules, the

proposed rules contemplate, if ultimately adopted, phase-in periods based on SEC filer status, with extended phase-in periods for

Scope 3 disclosures and third-party attestation requirements.

On March 6, 2024, the SEC adopted rules mandating climate-related

disclosures in companies’ annual reports and registration statements.

However, these rules are currently on hold due to legal

Under the direction and supervision of senior management and with board oversight, our Environmental, Social, and

Governance (“ESG”) Committee has initiated a process to implement and maintain compliance with the SEC’s and

European Union’s climate disclosure requirements, pending the resolution of these legal challenges.

and Data Security Laws

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Effective starting on January 1,

2023, the CPRA will significantly modify the CCPA, including by expanding the consumers’ rights with respect to certain sensitive

2023, the CPRA significantly modifies the CCPA, including by expanding the consumers’ rights with respect to certain sensitive

personal information.

The CPRA also creates a new state agency that will be vested with authority to implement and enforce the CCPA and

New legislation proposed or enacted in various other states will continue to shape the data privacy environment nationally.

For example, the Virginia Consumer Data Protection Act became effective on January 1, 2023, the Colorado Privacy Act becomes effective

on July 1, 2023, the Connecticut Act Concerning Personal Data Privacy and Online Monitoring becomes effective on July 1, 2023, and the

Utah Privacy Act becomes effective on December 1, 2023.

GDPR, CCPA, CPRA, CPA, and CDPA exemplify the vulnerability of our business to the evolving regulatory environment related to personal

Our compliance costs and potential liability may increase as a result of additional national and international regulatory requirements

related to data privacy and data security.

We are currently subject, and/or may in the future be subject, to numerous privacy and data

security laws.

The CPRA also creates a new state agency, the California Privacy Protection Agency (CPPA), that is vested with

authority to implement and enforce the CCPA and the CPRA.

In addition to the CPRA, several other states have passed or are in the process

of passing comprehensive data privacy laws, including the Virginia Consumer Data Protection Act (VCDPA), the Colorado Privacy Act (CPA),

the Connecticut Data Privacy Act (CTDPA), and the Utah Consumer Privacy Act (UCPA).

The Virginia law

became effective on January 1, 2023;

the Colorado law became effective on July 1, 2023;

and the Connecticut law became effective on July

The Utah Privacy Act came into force on December 1, 2023 , and there are expected legislative changes in other states

as well, shaping the evolving national data privacy landscape.

GDPR, CCPA, CPRA, VCDPA, CPA, CTDPA and UCPA exemplify the vulnerability of our business to the evolving regulatory environment related

to personal data.

Our compliance costs and potential liability may increase as a result of additional national and international regulatory

requirements related to data privacy and data security.

We are currently subject, and/or may in the future be subject, to numerous privacy

and data security laws.

For example, some U.S.

states, members of the European Economic Area, the United Kingdom, and many other jurisdictions

in which we operate have adopted some form of privacy and data security laws and regulations which impose significant compliance obligations.

in which we operate have adopted or are in the process of adopting privacy and data security laws and regulations which impose significant

compliance obligations.

Environmental,

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Our board-level ESG Committee, with active

management participation, will oversee our ESG initiatives and priorities.

management participation, will oversee ESG initiatives and priorities.

Regulation and Incentives

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Compliance with such regulations may cause installation

we apply charging fees by the kWh for our services in most states that permit this policy, while there are a handful of other states

that only allow charging fees on hourly and by session for our services (Georgia, Louisiana, Michigan, Mississippi, Nebraska, Tennessee

and Wisconsin).

intend to continue to vigorously seek additional grants, loans, rebates, subsidies, and incentives as cost-effective means of reducing

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We expect these incentives,

rebates, and tax credits to be critical to our future growth.

rebates, and tax credits to be important for our future growth.

Additionally, some incentives are currently offered to encourage electric

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The Federal Government provides a personal income tax credit for qualified buyers

and plug-in electric vehicles, with a maximum of $7,500, depending on vehicle weight and battery capacity, income levels, and battery

of plug-in electric vehicles, with a maximum of $7,500, depending on vehicle weight and battery capacity, income levels, and battery

sourcing origin.

States such as California, Colorado, Delaware, Louisiana, Massachusetts, New York, and Rhode Island offer various rebates,

States such as California, Colorado, Delaware, Maryland, Massachusetts, New York, and Rhode Island offer various rebates,

grants, and tax credits to incentivize EV and EVSE purchases.

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Handling and Disposal

are subject to laws and regulations regarding the handling and disposal of hazardous substances and solid wastes, including electronic

wastes and batteries.

These laws generally regulate the generation, storage, treatment, transportation, and disposal of solid and hazardous

waste, and may impose strict, joint, and several liability for the investigation and remediation of areas where hazardous substances

may have been released or disposed.

For instance, CERCLA, also known as the Superfund law, in the United States and comparable state

laws impose liability, without regard to fault or the legality of the original conduct, on certain classes of persons that contributed

to the release of a hazardous substance into the environment.

These persons include current and prior owners or operators of the site

where the release occurred as well as companies that disposed of or arranged for the disposal of hazardous substances found at the site.

Under CERCLA, these persons may be subject to joint and several strict liability for the costs of cleaning up the hazardous substances

that have been released into the environment, for damages to natural resources and for the costs of certain health studies.

authorizes the EPA and, in some instances, third parties to act in response to threats to the public health or the environment and to

seek to recover from the responsible classes of persons the costs they incur.

We may handle hazardous substances within the meaning of

CERCLA, or similar state statutes, in the course of ordinary operations and, as a result, may be jointly and severally liable under CERCLA

for all or part of the costs required to clean up sites at which these hazardous substances have been released into the environment.

are subject to laws and regulations regarding the handling and disposal of hazardous substances and solid wastes, including

electronic wastes and batteries.

These laws generally regulate the generation, storage, treatment, transportation, and disposal of

solid and hazardous waste, and may impose strict, joint, and several liability for the investigation and remediation of areas where

hazardous substances may have been released or disposed.

For instance, Comprehensive Environmental Response, Compensation, and

Liability Act (“CERCLA”), also known as the Superfund law, in the United States and comparable state laws impose liability,

without regard to fault or the legality of the original conduct, on certain classes of persons that contributed to the release of a

hazardous substance into the environment.

These persons include current and prior owners or operators of the site where the release

occurred as well as companies that disposed of or arranged for the disposal of hazardous substances found at the site.

Under CERCLA,

these persons may be subject to joint and several strict liability for the costs of cleaning up the hazardous substances that have

been released into the environment, for damages to natural resources and for the costs of certain health studies.

authorizes the EPA and, in some instances, third parties to act in response to threats to the public health or the environment and

to seek to recover from the responsible classes of persons the costs they incur.

We may handle hazardous substances within the

meaning of CERCLA, or similar state statutes, in the course of ordinary operations and, as a result, may be jointly and severally

liable under CERCLA for all or part of the costs required to clean up sites at which these hazardous substances have been released

into the environment.

also generate solid wastes, which may include hazardous wastes that are subject to the requirements of the Resource Conservation and

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operating expenses.

laws exist in other jurisdictions where we operate.

Additionally, in the EU, we are subject to the Waste Electrical and Electronic Equipment

Directive (“WEEE Directive”).

The WEEE Directive provides for the creation of a collection scheme where consumers return

waste electrical and electronic equipment to merchants, such as Blink Charging.

If we fail to properly manage such waste electrical and

electronic equipment, it may be subject to fines, sanctions, or other actions that may adversely affect on our financial operations.

Similar laws exist in other jurisdictions where we operate.

Additionally, in the EU, we are subject to the Waste

Electrical and Electronic Equipment Directive (“WEEE Directive”).

The WEEE Directive provides for the creation of a collection

scheme where consumers return waste electrical and electronic equipment to merchants, such as Blink Charging.

If we fail to properly manage

such waste electrical and electronic equipment, it may be subject to fines, sanctions, or other actions that may have an adverse effect

on our financial operations .

rely on a combination of patent, trademark, copyright, unfair competition and trade secret laws, as well as confidentiality procedures

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of others, and to prevent others from infringing our proprietary rights.

of December 31, 2023, we had four active patents issued in the United States (in the name of our subsidiary Ecotality, Inc.).

These patents

relate to various EV charging station designs.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business