Beam Europe Receives New Orders from Leading European Market Telecommunications Provider Totaling US$1.2 Million

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) announced a leading European market telecommunications operator placed orders for telecommunications infrastructure products, valued at over US$1 million year to date, with US$750k since Beam Global’s acquisition of Amiga and the formation of Beam Europe. The customer has worked with Beam Global’s European operations, formed as a result of the Beam Global acquisition of Amiga D.O.O in October of this year, for over 20 years. Innovations coming to the telecommunications industry include energy resiliency, micro-grid technology and sustainable solutions. Renewable energy and battery storage is becoming increasingly important to the telecommunications leaders striving to provide the most sustainable and reliable connectivity in their respective regions.

Positive

• The leading European market telecommunications operator has placed orders for telecommunications infrastructure products valued at over US$1 million year to date, indicating strong demand for Beam Global's solutions.
• The customer has worked with Beam Global’s European operations, formed as a result of the Beam Global acquisition of Amiga D.O.O, for over 20 years, showcasing a long-standing and successful relationship.
• Innovations in energy resiliency, micro-grid technology, and sustainable solutions are becoming increasingly important to the telecommunications industry, aligning with Beam Global's mission and capabilities.

Negative

• None.

SAN DIEGO, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, announced a leading European market telecommunications operator placed orders for telecommunications infrastructure products, valued at over US$1 million year to date, with US$750k since Beam Global’s acquisition of Amiga and the formation of Beam Europe.

The customer has worked with Beam Global’s European operations, formed as a result of the Beam Global acquisition of Amiga D.O.O in October of this year, for over 20 years. Innovations coming to the telecommunications industry include energy resiliency, micro-grid technology and sustainable solutions. Renewable energy and battery storage is becoming increasingly important to the telecommunications leaders striving to provide the most sustainable and reliable connectivity in their respective regions.

“We view our long standing and successful relationships with telecommunications companies as important particularly as we introduce EV Standard™ to the market which we believe will provide an ideal mounting asset for micro cell sites and other communications equipment as well as EV charging solutions, because it has a built-in, uninterrupted power supply in our proprietary on-board batteries and is not vulnerable to grid interruptions,” said Beam Global CEO Desmond Wheatley. “Working with a European market leader on vital infrastructure is a perfect fit with our global mission and is further validation of our combined capabilities. We believe that the series of orders from this leading telecommunications customer speaks to the high quality, professionalism and timely performance of Beam Europe to serve the leading and largest organizations in the region.”

To address energy security, the patented EV Standard™ solution can continue to provide EV charging, a source of emergency power and light during grid outages as well as support and power other vital infrastructure such as cellular communications, IoT connected devices, smart city sensors and environmental monitors.

“This telecommunications market leader is an important customer and we are happy to continue to receive growing orders from them,” said Ivan Tlacinic, Head of European Operations at Beam Gobal. “We have the right experience, equipment and engineering expertise to provide the high quality and performance the customer has come to expect, and we look forward to sharing our new Beam Global products with them as we successfully deliver on our current orders.”

Infrastructure is taking center stage in Europe. The main objective of the European Programme for Critical Infrastructure Protection (EPCIP) is to reduce the vulnerabilities of critical infrastructure and increase their resilience, protecting the assets or systems which are essential for the maintenance of vital societal functions. Energy security, energy resilience and energy infrastructure are core to the Beam Global mission and its innovations, which align perfectly with broader industries in the critical infrastructure space. The need to secure vital access to energy and communications is key to the equally vital electrification of transportation.

About Beam Global

Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam Global has a deep patent portfolio and is listed on Nasdaq under the symbols BEEM and BEEMW. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly Twitter).

Forward-Looking Statements

This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations, including, but not limited to the following statements: statements regarding the acquisition of Amiga, its expected benefits, and the anticipated future financial performance as a result of the acquisition. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global's actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

Media Contact:
Skyya PR
+1 651-335-0585
Press@BeamForAll.com

Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com

FAQ

What is the value of the orders placed by the leading European market telecommunications operator for telecommunications infrastructure products with Beam Global?

The orders are valued at over US$1 million year to date, with US$750k since Beam Global’s acquisition of Amiga and the formation of Beam Europe.

How long has the customer worked with Beam Global’s European operations?

The customer has worked with Beam Global’s European operations for over 20 years, formed as a result of the Beam Global acquisition of Amiga D.O.O.

What are some of the innovations coming to the telecommunications industry?

Innovations include energy resiliency, micro-grid technology, and sustainable solutions, reflecting the increasing importance of renewable energy and battery storage in the telecommunications sector.

What is the main objective of the European Programme for Critical Infrastructure Protection (EPCIP)?

The main objective is to reduce the vulnerabilities of critical infrastructure and increase their resilience, aligning with Beam Global's mission and innovations in energy security, energy resilience, and energy infrastructure.