Beam Global and Volvo CE Announce Partnership to Offer Off-Grid EV Charging Systems with Volvo Electric Construction Equipment

Rhea-AI Summary

Beam Global has partnered with Volvo Construction Equipment (Volvo CE) to allow 245 Volvo CE dealer locations in North America to bundle Beam's EV ARC™ transportable charging systems with the purchase of Volvo's compact electric construction equipment. This collaboration enables rapid deployment of off-grid EV charging, eliminating the need for electrical work or fossil fuel generators. The EV ARC™ system is fully autonomous, generating and storing electricity independently. Both companies aim to support a transition to zero-emissions construction technology.

Positive

• Partnership with Volvo CE enhances sales opportunities for Beam's EV ARC™ charging systems.
• Allows rapid deployment of off-grid EV charging at construction sites, leading to potential cost savings.
• Supports the transition to zero-emissions construction equipment, aligning with global sustainability goals.

Negative

• None.

245 Volvo CE Dealer locations in North America can now bundle EV ARC™ transportable charging systems with Volvo compact electric construction machines through the Extended Offer Program

SAN DIEGO, July 26, 2022 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, announced a partnership with Volvo Construction Equipment (Volvo CE) that allows Volvo CE's 245 North American dealer locations to bundle Beam EV ARC™ off-grid charging systems with a purchase of Volvo electric equipment. This joint offering enables construction sites to rapidly deploy EV charging, without the requirement for electrical work, utility grid connections or fossil fuel generators, to power zero-emissions construction equipment that runs on the sun and does not generate a utility bill.

"The construction industry has the opportunity to future-proof its business against noise, carbon emissions regulations and volatile fossil fuel costs by adopting electric machines," said Beam Global CEO Desmond Wheatley. "By providing our sustainable EV charging systems alongside Volvo's best-in-class electric machines, we are enabling that transition in the fastest, cleanest and most scalable manner available. We're proud to partner with Volvo CE in electrifying the construction business."

Volvo CE currently offers five models of electric machines in North America, the L20 and L25 Electric wheel loaders, and the EC18, ECR18 and ECR25 Electric excavators. Now Volvo dealers can bundle transportable, off-grid solar EV charging systems with electric machine orders. Together, the EV ARC™ and Volvo electric machines produce zero emissions, significantly reduce noise levels and lower energy costs, making them ideal for construction sites where emissions regulations, noise ordinances or the risks of indoor air pollution limit the use of diesel generators and construction equipment.

"The Volvo CE line of zero-emissions construction equipment can now be charged with a zero-emissions energy source provided by the EV ARC. Beam Global shares our vision to electrify mobility worldwide, a critical step towards mitigating climate change and reducing noise and air pollution," said Ray Gallant, VP Product Management and Productivity at Volvo CE. "The construction industry is ready for an energy transition that reduces emissions and improves machinery's performance, longevity and usability. We're committed to an electric future and view Beam Global as a strategic partner on this journey."

Beam Global's EV ARC™, the fastest deployed and lowest-cost EV charging system on the market, is the ideal solution for Volvo CE's electric machines. Compact and easily transportable, the EV ARC™ system can be set up and ready to use in minutes. The EV ARC™ is fully autonomous, meaning it generates, stores and delivers electricity independent of the grid. Whether the project is in a remote nature preserve or a densely populated city with strict zoning rules, the solar-powered EV ARC™ can be deployed without any electrical work or permitting.

The offer is available through the Volvo dealer network, an already trusted partner, giving partners an established convenient single point of contact for purchase. Because the EV ARC™ is part of the Extended Offer Catalog, Volvo Financial Services can be utilized to lease or finance the bundled EV ARC™ and compact electric machines with flexible financing options.

McKinsey & Company estimates that construction is an $11 trillion industry that accounts for 13% of global GDP. The global construction equipment market is projected to grow from $142 billion in 2021 to $224 billion in 2028 according to Fortune Business Insights. The United Nations Environment Programme finds that the buildings and construction industry accounted for 38% of global carbon emissions in 2019. With many governments aiming to achieve net-zero emissions by 2050, electric machinery will become essential. Residential and commercial builders and equipment rental companies are likely to add electric vehicles to their fleets. Federal agencies such as the U.S. Department of the Interior and the U.S. Department of Agriculture already use electric machines in remote, environmentally sensitive areas.

About Beam Global

Beam Global is a clean technology leader providing innovative, sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media. Core platforms include Beam EV ARC™ and Solar Tree^® sustainable EV charging systems, Beam AllCell™ high-performance energy storage solutions, energy resiliency and disaster preparedness products and a deep patent library.

Beam EV ARC™ EV charging infrastructure systems support any quality brand EV charging service equipment, and Beam AllCell™ battery solutions power micro-mobility, terrestrial EVs, aviation, maritime and recreational vehicles as well as stationery and energy-security platforms.

Beam develops, patents, designs, engineers and manufactures unique and advanced clean mobility solutions that protect the environment, save customers time and money, empower communities and keep people moving. Based in San Diego and Chicago, the company produces Made-in-America products with the mission to Lead the World to Clean Mobility. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW. For more information visit BeamForAll.com, LinkedIn, YouTube and 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 proposed acquisition, its expected benefits, the acquisition’s anticipated timing, 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. There can be no assurances that the proposed acquisition of AllCell will be completed. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

Media Contact:
Next PR
+1 813-526-1195
Press@BeamForAll.com

Investor Relations:
Kathy McDermott
IR@BeamForAll.com
+1 858-799-4583

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ab294bf8-3df2-4796-9c65-9f5d175bb940

https://www.globenewswire.com/NewsRoom/AttachmentNg/7bfdffa7-3ab8-48bf-a17e-dd93adad180f

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0689aa9-93bc-4960-ab5b-d6071ffb167b

FAQ

What is the partnership between Beam Global and Volvo CE about?

Beam Global's partnership with Volvo CE allows 245 dealer locations to bundle Beam's EV ARC™ charging systems with Volvo's electric construction equipment, facilitating off-grid charging solutions.

How many dealer locations are involved in the Beam and Volvo partnership?

There are 245 Volvo CE dealer locations in North America involved in the partnership with Beam Global.

What benefits do the EV ARC™ systems offer in construction?

EV ARC™ systems provide off-grid solar charging, eliminate utility costs, and reduce emissions, making them ideal for construction sites with strict environmental regulations.

What types of electric equipment does Volvo CE offer?

Volvo CE offers five models of electric machines in North America, including electric wheel loaders and excavators.

What are the stock symbols for Beam Global?

Beam Global is listed under the stock symbols BEEM and BEEMW.