SG Blocks Inc [NASDAQ:SGBX] is in the red pre-market, but this may be attributed to profit taking after the massive 35% rally on Friday. However, the fundamentals point to a stock that has what it takes to keep gaining in value.
A few days ago, the company announced that it had entered into an exclusive agreement with Blink charging Co. Under the deal Blink’s EV charging solutions would be deployed together with SG Blocks container modular building structures. Through this technology, the two companies will be in a position to deploy a scalable, yet affordable EV charging solution.
The EV charging containers that the two are developing will have the capacity to deliver off-grid charging by combing battery and solar in multiple capacities. Commenting on the deal, Blink’s CEO stated that by rolling out SG Blocks top EV charging technology in modular technology, the company is looking forward to grow its market share geographically and support the growing number of electric vehicles that have created the necessity for more charging solutions.
He added that with the partnership, SG Blocks would provide a turn-key solution that is both long lasting and environmentally friendly. He added that the solution by SG Blocks is unique in that it can be deployed fast and efficiently.
On his part, SG Blocks CEO Paul Galvin stated that they were honored to work with the Blinks team, terming it a natural alliance for the two companies’ sustainable growth. He added that the company was excited to work with Blink to offer customers a scalable, durable, and clean solution for the fast growing EV market. He concluded by saying that by working together, the two companies were helping their customers lower their carbon footprint, while maximizing their EV-driven lifestyles.
With the agreement in place, the two companies intend to jointly develop both 20 foot and 40 containers that are powered by solar, with Blink’s DCFC and IQ 200 charging stations. Through this deal, the 20-foot containers will handle four charging stations of 80-amp, while the 40-foot containers will handle eight of them.
On top of that, SG Blocks will offer an industrial design that is code compliant, and the architectural and engineering specs for the structures. On its part, Blink will offer the design, and engineering specs for the EV charging.
Blinks is a leader in electric vehicle charging technologies and has over 23k stations.
About SG Blocks Inc
SG Blocks Inc is a design and fabrication company for container structures. It is based in Brooklyn, New York.