SG Blocks (SGBX) Stock Is Gaining On Strategic Agreement

SG Blocks Inc (NASDAQ: SGBX) is one of the biggest premarket gainers this morning, and for good reason. The company announced that it has entered into an agreement with Blink Charging Co. (NASDAQ: BLNK). Here’s what’s going on:

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SGBX Stock Soars On BLNK Partnership

In the press release, SG Blocks said that it entered into an exclusive Master Development and Production Agreement with Blink Charging. As a result of the agreement, Blink’s electric vehicle charging solutions will be deployed along with SG Block’s container-based module building structures.

SGBX said that the agreement ultimately brings the strengths of two industry leaders together in order to deploy rapid and cost effective electric vehicle charging solutions. The EV charging containers the two companies will be working on are designed to provide off-grid charging solutions.

As a result of the agreement, BLNK and SGBX will co-develop 20-foot and 40-foot solar-powered containers, with Blink’s IQ 200 and DCFC charging stations. The 20-foot container will include four 80-amp charging stations with the 40-foot container including eight charging stations.

In a statement, Michael D. Farkas, Founder and CEO at BLNK, had the following to offer:

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. 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.

The above statement was followed up by Paul M. Galvin, Chairman and CEO at SGBX. Here’s what he had to offer:

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. 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.

This Is Huge News

The news released by SG Blocks and Blink Charging this morning is overwhelmingly positive. The fact of the matter is that the world is pushing toward clean energy solutions. Electric vehicles help to solve the excessive carbon footprint caused by the burning of fossil fuels in transportation.

However, for electric vehicles to work, they have to be charged. That’s where SGBX and BLNK are seeing an opportunity. With the partnership, these charging stations could soon pop up in parking lots across the United States. A self-sustaining, clean energy charging system means that not only is vehicle not producing emissions, polution isn’t being created in the process to produce the electricity that charges the vehicle.

All in all, this partnership represents a massive opportunity for all involved, making both, BLNK and SGBX stocks for the watch list.

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