Beam Global Announces Continuing Orders for EV ARC Solar-Powered EV Charging Systems from Multiple California State Agencies

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) announced orders from the California Department of General Services for EV ARC™ systems, further expanding its footprint in the leading US market. The solar-powered EV ARC™ charging infrastructure products are off-grid, generate and store their own electricity, and are deployed with no electrical work, no construction, and no utility bill, reducing California’s costs through avoided construction, electrical upgrades, operational disruptions, and ongoing utility bills. The company sees California as an excellent proxy for its growth in Europe, where the needs for sustainable EV charging infrastructure are arguably greater.

Positive

• Beam Global's continued expansion in the leading US market is a positive indicator of its growth potential.
• The company's innovative and sustainable infrastructure solutions align with the increasing need for rapidly deployed, highly scalable, and reliable EV charging infrastructure.
• The company's presence in hundreds of locations in 38 states demonstrates its momentum and potential for further growth.

Negative

• None.

SAN DIEGO, Nov. 29, 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, today announced orders from the California Department of General Services (DGS) for several of the top State Agencies, adding to Beam’s footprint in its leading market in the United States. The EV ARC™ systems were purchased using the California Department of General Services (DGS) contract #1-22-61-16 which simplifies the state procurement process and ensures the best negotiated pricing.

The solar-powered EV ARC™ EV charging infrastructure products are off-grid, generate and store their own electricity, and are deployed with no electrical work, no construction, and no utility bill, reducing California’s costs through avoided construction, electrical upgrades, operational disruptions, and ongoing utility bills. EV ARC™ systems provide EV charging where it is too expensive, time consuming, disruptive or impossible to connect to the utility grid. They also continue to charge EVs during blackouts and include an optional Emergency Power Panel that can provide vital electricity to first responders during disasters, emergencies and power outages.

The ten State Agencies, some of whom are returning customers and many of whom are receiving numerous sustainable EV ARC™ charging systems powered 100% by renewable energy, are:

• California Conservation Corps (CCC)
• California Department of Corrections & Rehabilitation (CDCR)
• California Department of Fish and Wildlife (CDFW)
• California Department of Forestry and Fire Protection (CAL FIRE)
• California Department of General Services (DGS)
• California Department of Parks and Recreation (California State Parks)
• California Department of Pesticide Regulation (CDPR)
• California Governor’s Office of Emergency Services (OES)
• California Highway Patrol (CHP)
• California Water Resources Control Board (WRCB)

“California leads the nation in the adoption of electric vehicles and the requirement for EV charging infrastructure. The continued expansion of EV ARC deployments demonstrates the increasing need for rapidly deployed, highly scalable and reliable solutions,” said Desmond Wheatley, CEO of Beam Global. “They say that ‘as goes California, so goes the rest of the country’ and we are certainly seeing that as our business grows across the U.S. with both government and commercial customers. Every year, more states are setting increasingly meaningful goals, with a growing sense of urgency for sustainable EV charging infrastructure. Beam Global’s products are in hundreds of locations in 38 states already and we expect this momentum to continue to accelerate. And now that we are in Europe we look forward to matching this growth on the other side of the Atlantic where the needs are arguably greater. We view California as an excellent proxy for what we believe will happen with our business in the biggest automobile market in the world – Europe.”

California became the first state to join Europe in committing to effectively banning sales of new, internal combustion engine (ICE) vehicles by 2035 via the Advanced Clean Cars II rule. The mandate for cars and light trucks was set out by the California Air Resources Board (CARB) in August 2022, and it could mean 12 million more EVs on California's roads. Under Section 177 of the federal Clean Air Act, states must either adhere to federal emissions standards or adopt California's more stringent guidelines. As of September 2023, eight more states have announced they will enforce California’s Advanced Clean Car II rule and prohibit the sale of new gasoline-powered vehicles: Connecticut, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island and Washington, with additional states in process.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1822e1d7-bf6e-4f5e-bceb-46a92aef65a8

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a389066-cf8e-44e7-ba69-01d1e6e99000

FAQ

What did Beam Global announce?

Beam Global announced orders from the California Department of General Services for EV ARC™ systems, expanding its footprint in the leading US market.

What are the features of the solar-powered EV ARC™ charging infrastructure products?

The products are off-grid, generate and store their own electricity, and are deployed with no electrical work, no construction, and no utility bill, reducing California’s costs through avoided construction, electrical upgrades, operational disruptions, and ongoing utility bills.

How does Beam Global view California's role in its business growth?

The company sees California as an excellent proxy for its growth in Europe, where the needs for sustainable EV charging infrastructure are arguably greater.

What are the potential implications of California's commitment to banning sales of new, internal combustion engine (ICE) vehicles by 2035?

California's commitment could mean 12 million more EVs on the state's roads, with eight more states announcing they will enforce similar rules.

Where is Beam Global's presence in the US?

The company's products are in hundreds of locations in 38 states, demonstrating its momentum and potential for further growth.