Blink Charging Sells Envoy to Blade Ranger for Cash and Convertible Note
BLNK•Blink Charging will sell its wholly-owned Envoy Technologies subsidiary to Blade Ranger Ltd. for cash consideration and a convertible note, aiming to sharpen capital allocation. The divestiture supports Blink’s pivot toward a high-performing, owner-operator EV charging infrastructure model focused on reliability, utilization and long-term shareholder returns.
1. Transaction Details
Blink Charging has agreed to sell Envoy Technologies to Blade Ranger Ltd. in exchange for immediate cash consideration plus a convertible note, combining upfront monetization with exposure to future upside as Envoy grows under new ownership.
2. Strategic Rationale
The sale aligns with Blink’s strategy to focus on its core owner-operator charging infrastructure, reducing complexity by exiting non-core businesses and directing resources toward high-utilization sites and network reliability.
3. Financial Impact
Proceeds from the transaction strengthen Blink’s balance sheet, enhance capital allocation discipline and bolster financial performance metrics, while the convertible note preserves potential value appreciation if Envoy’s platform expands.
4. Next Steps
The transaction is subject to standard post-closing conditions, with Blade Ranger expected to finalize its own corporate approval process before integration and operational handover of Envoy Technologies.
