Blink Charging Co.

Greetings, ladies and gentlemen, and welcome to Blank Charging Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. Should anyone require operator assistance, please press star zero on your telephone keypad. It is now my pleasure to introduce your host, Mr. John Nesbitt of IMS Investor Relations. Thank you, sir. You may begin.

Good afternoon, everyone, and welcome to Blank Charging Second Quarter 2020 Investor Call. On the call today we have Michael Farkas, Blink Charging founder and CEO, Brendan Jones, Chief Operating Officer, and Michael Rama, Chief Financial Officer. I'd like to take a moment to read the Safe Harbor Statement. This conference call 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. These statements include statements regarding the intent, belief, or current expectations of Blink and members of its management, as well as the assumptions in which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risk and certainties, including those described in Blink's periodic reports filed with the SEC and actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink undertakes no obligation to update or revise forward-looking statements or reflect change conditions. Okay, we'll now turn the call over to Michael Farkas. Go ahead, Michael.

Good afternoon, everyone. Thank you for joining us for an inaugural quarterly earnings call. We're pleased to have this opportunity to review our results for the second quarter of 2020. Let me begin by saying that this is an incredibly exciting time in our industry. As many of you may know, Blink was founded in 2009. Since then, we have been known as pioneers in electric vehicle charging technology. Some would say we were ahead of the curve. In fact, in many ways, we still are. So although we have a lot to do, it is particularly gratifying to see the recent momentum in the EV industry. It is evident that EVs are better for the environment than their traditional internal engine counterparts, and their adoption is a huge step forward in our stewardship of the planet. This is an important element of our business. But I also founded the company because I've always been a car guy as well as an entrepreneur, and the opportunity to combine these pursuits was irresistible. I said the word car just after I said the word mom. My father never forgave me for it. And I've loved the evolution of the automobile and the electric cars and their increasingly effective performance since their inception. I knew that as EVs became more accessible to the general public, there would be a massive need for infrastructure to support the inevitable sea of change that would follow. I also saw potentially amazing business. Historically, if you look at the transportation market, 99% of car manufacturers have gone bankrupt. It's the fueling side of the business where there's real growth and where companies have truly thrived and been very profitable. That is what we are building here at Blink for the EV space. This was an amazing quarter and first half of 2020 for us. Despite the economic challenges of COVID-19 in the first six months of 2020, we have already surpassed our revenues for all of 2019. That is an amazing feat. But it's more important to understand that to be successful in our industry, we must get our equipment deployed in the right spots in order to have that utilization. It's setting up a land grab of sorts. With that in mind, we are laser focused on rolling out our network of charging stations across the country and globally. This will be a key to driving our long-term value. We have now deployed more than 23 charging stations throughout the U.S., and we have the knowledge and experience to build that number exponentially. We have registered memberships of more than 180,000 EV drivers and growing as more consumers choose electric. While very focused on organic growth, we have made six acquisitions since our inception, and acquisitions are a very important part of our strategy. To that end, in the 10 queues we just filed, we announced that we are now buying certain assets of another EV charging operator that was done subsequent to the closing of the quarter. I can't really say much on this project, although I would love to, but I can tell you that it's beyond an amazing strategic fit for us as we look to expand our network. The company that we're acquiring has some substantial grants and that will allow us to develop and build out more charging stations using government capital, free money. It's very exciting and there's more of this to come. If we're looking at the broader industry, the EV industry is set to emerge from COVID-19 stronger than ever before. Demand for electric vehicles continue to grow, and lawmakers in many states, including our home state of Florida, have taken notice. We're publicly committing their money to governments to building out EV infrastructure. They're passing EV infrastructure legislation, and it only further impresses upon the importance and the timeliness of our business and paves the way forward for Blink's success. At Blink, we were excited to see a recent market report by Bloomberg NEF Project that the need for charging points will top $290 million by 2040. That's over a value of $500 billion worldwide. Another forecast from Research and Markets estimates the global EV charging infrastructure market will reach $140 billion by 2030. is growing at an estimated 31 KGAR until then. Unlike traditional automobile makers who have had to deal with the oil market's volatility, the EV industry can, by and large, sidestep the commodity turmoil. Whether oil prices are high or low, electric vehicles remain a significantly cleaner alternative to traditional vehicles and are widely considered the next significant evolution in transportation. The big oil companies and utilities are taking notice. Giants like BP, Shell, Total are making major investments in EV charging as they recognize the industry transformation is well underway. As more EVs take to the road, more charging stations will be needed. In the coming months, car companies have announced plans to unleash a wave of new plug-in models in an effort to catch up with Tesla and meet government's tightening restrictions related to vehicle pollution levels. We're excited about the momentum we're experiencing in the EV space, which drives increased interest in our products and services. As electric vehicles become more accessible and commonplace on the road, charging stations' location and availability become increasingly critical. In fact, Apple Computer recently announced that its new Apple Maps on iOS 14 will include EV charging routing, which will include routing to our Blink charging stations. This investment by Apple signals a significant shift in electric vehicles becoming mainstream. I'll just close out by saying we have also strengthened our capital position to support our growth, and in total through August 10th, we've sold 3.4 million shares of common stock under our ATM for aggregate gross proceeds of approximately $17.8 million, and as of August 12th, we have a cash position of approximately $16 million. I would like now to turn the call over to Brendan Jones, our Chief Operating Officer.