By Sam Boughedda
Investing.com -- Electric vehicle charging firm Blink Charging Co (NASDAQ:BLNK) has been awarded grants from the Massachusetts Department of Environmental Protection (MassDEP) to install eight fast-charging stations in the state.
The company was awarded $800,000 under the Massachusetts Electric Vehicle Incentive Program, which provides grants installing DC fast-charging stations around the state.
Massachusetts is aiming to create a reliable EV infrastructure to promote electric vehicles and meet emission reduction goals.
The state previously announced its target to end the sale of new gas-powered vehicles by 2035.
Blink said it will install the chargers in "strategic locations" in an attempt to convert more drivers to EVs.
"We are thrilled to have been awarded grant funds from MassDEP to continue expanding EV charging access in Massachusetts. The northeast is a rapidly growing EV market. It is one in which we have been successful in being selected for multiple grant and rebate awards," said Brendan Jones, President of Blink Charging.
"Continuing to build-out high-density areas and high-traffic corridors will further accelerate consumer adoption of EVs," he added.
Blink shares are trading 5% above Tuesday's close following the announcement.