Miami Beach, FL, March 25, 2020 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner and operator of electric vehicle (EV) charging equipment and services, today announced the appointment of Kenneth R. Marks to its Board of Directors. The Company's existing five-member Board approved the strategic appointment to bring a top energy-sector investment banker to the Board.
Mr. Marks is currently the President of KRM Energy Advisors LLC, which focuses on providing strategic and financing advice in the energy sector. He was previously Managing Director and Head of Power, Utilities and Renewables for the Americas for HSBC from 2011 to 2016 where he was responsible for leading the bank's investment banking and commercial banking services for clients in the sector in North and South America.
Prior to HSBC, Mr. Marks worked for Morgan Stanley as an investment banker for 33 years in increasingly senior roles, including as Managing Director in the Global Power and Utility Group. In this role, Mr. Marks provided the full range of Morgan Stanley's banking products to clients in the sector, including strategic advice, debt and equity financing, and derivatives/hedging.
"Mr. Marks' experience in power, utilities, and renewables and his leadership positions at a premier global investment bank and one of the largest global commercial banks make him a valuable appointment to the Blink board, as we continue to expand our product and service offerings," shared Blink Founder and Executive Chairman Michael D. Farkas. "His extensive knowledge and input will be invaluable to our development and growth in the EV charging and alternative energy markets."
Mr. Marks is a member of the Board of Directors of the Coalition for Green Capital, a non-profit entity whose mission is to foster the development of clean energy and energy efficiency and Chairman of its Audit Committee. He received a B.S. degree in electrical engineering from Bucknell University, an M.B.A. in industrial management from the Wharton School of University of Pennsylvania, and a Ph.D. in finance from New York University. For several years, Mr. Marks served on the faculty at NYU teaching courses in its M.B.A. program and has published articles in numerous journals, including Public Utilities Fortnightly, Energy Biz, and Harvard Business Review.
Blink's Board regularly evaluates its composition to ensure its skills, experience, and professional perspectives are in alignment with the current status and projected growth of the company for all Blink shareholders. The new director joins existing members Michael D. Farkas, Don Engel, Ritsaart van Montfrans, Louis Buffalino, and Jack Levine. Blink's Board is now comprised of six directors, four of whom are independent.
ABOUT BLINK CHARGING
Blink Charging Co. (NASDAQ: BLNK, BLNKW) is a leader in electric vehicle (EV) charging equipment that has deployed over 23,000 charging stations, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of its charging locations worldwide. The Company’s principal line of products and services is its Blink EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network utilizes a proprietary cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. With global EV purchases forecasted to rise to 10 million by 2025 from approximately 2 million in 2019 ( Bloomberg.com, “China’s Hunger for Electric Vehicles Is Driving Manufacturing, 2019), the Company has established key strategic partnerships to rollout adoption across numerous location types, including parking facilities, multi-family residences and condos, workplace locations, healthcare/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
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