Sg Blocks, Inc. (SGBX), Blink Charging (BLNK) Enter into a Master Development and Production Agreement For EV Charging Stations at all SGB Development Corp. Properties

SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of modular structures, today announced that SGB Development Corp. (“SGB DevCorp”), a wholly-owned subsidiary of the Company, will collaborate with Blink Charging Co. (Nasdaq: BLNK, BLNKW) a leading owner, operator, and provider of electric vehicle (“EV”) charging equipment and services, to deploy Blink’s EV charging technology via SG Blocks’ modular designs.

This agreement expands the original 2020 Master Development and Production Agreement, executed between SG Blocks and Blink, to include SGB DevCorp, the Company’s real estate development subsidiary, whose mission is to maximize the delivery of affordable multifamily housing developments. SGB DevCorp expects to use Blink’s technology in all current and future development sites, elevating the amenities offered at each location and enabling each resident the opportunity to reduce their own carbon footprint.

The first project between the two companies plans to deploy 300+ EV chargers at SGB DevCorp’s site in Lago Vista, Texas. The innovative residential project features one- and two-bedroom units utilizing modular construction practices. Modular designed projects such as Lago Vista reduce the overall time to completion and have a smaller carbon footprint through the reduction of consumed materials and building in a controlled environment (such as the SG ECHO factory). Modular design and construction also allows for efficient installation process as new technology reveals itself or needs to be developed. Modular construction is one of the fastest growing verticals in construction because of its ecological and financial benefits.

“We couldn’t think of a better project to kick-off our relationship with SG Blocks’ development company than Lago Vista in Austin,” said Michael Farkas, CEO of Blink Charging. “Austin is a leading city in innovation and positioning Texas at the forefront of EV technology. The presence of the Telsa manufacturing plant is further accelerating the city’s need for EV charging infrastructure. We are excited to begin providing what the community needs alongside SG Blocks.”

The collaboration between SGB DevCorp and Blink Charging Co. was created with the goal of maximizing opportunities and profit in the sustainable transportation technology space.

According to Wood McKenzie, global electric vehicles on the road are expected to reach 100 million units by 2030, a 10-fold increase compared to 2020. To support this growth, Wood McKenzie estimates that residential and public charging points will grow to 32.5 million by 2030, compared to 5.6 million in 2020.

“Working with Blink empowers us in the EV charging space given that Blink is a known and reputable partner,” Paul Galvin, Chairman and CEO of SG Blocks noted. “We see countless opportunities for the deployment of modular charging stations across the economy, especially given that environmental sustainability is a primary focus for both companies. Getting in early as a go-to modular EV expert provides us with excellent positioning in this exciting and evolving vertical and reinforces SG Block’s ESG mandate.”

SGB DevCorp plans to use the Blink EV charging services for development ventures in both infrastructure and transit-oriented projects, with the two companies currently working to complete due diligence on a transit development project. The Company intends to apply for multiple requests for proposals for EV charging on the local, state, and federal levels.

The Company plans to charge standard margins on all modular charging stations delivered to SGB DevCorp as an in-house customer.

“We intend to dedicate the time and resources to grow in this space and be opportunistic in public and transit-oriented developments,” added Paul Galvin.

SG Blocks plans to provide further updates on the aforementioned stations when they are deployed in their respective locations.

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