Beam Global Announces New Federal Customers Placed First-Time Orders for EV ARC Solar-Powered EV Charging Systems
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Insights
The recent announcement by Beam Global regarding the expansion of their footprint among federal customers through first-time orders is a significant development for the company. The procurement of EV ARC™ systems by federal entities such as the Defense Media Activity, Food and Drug Administration and National Park Service, among others, underscores a growing trend towards sustainable and resilient energy solutions within government operations.
From a market perspective, this move aligns with broader industry trends of electrification and sustainability, which are increasingly influencing government procurement decisions. The focus on energy security and disaster preparedness, as highlighted by Beam Global's CEO, reflects a strategic positioning that could benefit the company in the long term. As the federal fleet moves towards 100% zero-emission vehicle acquisitions by 2035, the demand for off-grid, renewable energy-powered EV charging infrastructure is expected to rise, potentially increasing Beam Global's market share and strengthening its competitive edge.
Moreover, the inclusion of Beam Global products in the GSA's Disaster Purchasing Program may lead to additional opportunities for state and local governments to adopt their technology, further expanding the company's client base. The emphasis on rapid deployment and scalability suggests that Beam Global's offerings are not only environmentally friendly but also practical for immediate needs, which is a critical factor in emergency response scenarios.
The announcement by Beam Global regarding the expansion of its customer base within the federal government has direct implications for the company's financial performance. The utilization of GSA contracts for the purchase of EV ARC™ systems is indicative of a streamlined procurement process and secured best pricing, which may lead to cost efficiencies for both the government and Beam Global. This strategic use of federal contracts could result in a more predictable revenue stream and potentially improved profit margins for the company.
Investors should note that government contracts often come with a level of stability and long-term potential, which could be favorable for Beam Global's financial outlook. The company's focus on energy resiliency and disaster preparedness, areas of increasing importance to national security, positions it to capitalize on federal initiatives such as Executive Order 14057. This order's mandate for a transition to zero-emission vehicles could significantly boost demand for Beam Global's products and services, potentially enhancing shareholder value.
It's also worth considering the impact of this expansion on Beam Global's stock performance. Positive reception in the market to news of securing government contracts can often lead to an uptick in stock prices. However, investors will be watching closely to ensure that the company can fulfill the increased demand while maintaining quality and managing costs effectively.
Beam Global's recent success in securing orders from federal customers for its EV ARC™ systems is a noteworthy development in the context of energy policy and national security. The company's technology, which allows for off-grid, solar-powered charging that remains operational during blackouts, aligns with current federal sustainability goals and energy security concerns.
The emphasis on renewable energy and energy resilience in federal procurement is reflective of broader policy shifts, such as those outlined in Executive Order 14057. The order's focus on zero-emission vehicle acquisitions by 2035 illustrates a policy-driven market where companies like Beam Global can thrive. The adoption of off-grid EV charging infrastructure is a practical response to the vulnerabilities of traditional energy grids, particularly in the face of natural disasters and other emergencies.
The long-term implications for stakeholders include not only reduced operational disruptions and utility costs but also the potential for increased energy independence. The ability of Beam Global's systems to provide emergency power to first responders further enhances their value proposition in a policy environment that increasingly values sustainability and preparedness.
SAN DIEGO, Feb. 13, 2024 (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 six federal customers have placed first-time orders, expanding the Beam Global footprint among its existing federal customers. The EV ARC™ systems were purchased through the General Services Administration (GSA) Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006 and the GSA Federal Blanket Purchase Agreement (BPA) for Electric Vehicle Supply Equipment Contract Number 47QMCA22A0004, contracts which simplify the federal procurement process and ensure best pricing.
The solar-powered EV ARC™ EV charging infrastructure products are off-grid, generate and store their own clean electricity, and are deployed with no electrical work, no construction and no utility bill, reducing the federal government’s costs through avoided construction, electrical upgrades, operational disruptions and ongoing utility bills. The systems can continue to charge EVs during blackouts and most include the optional Emergency Power Panel that can provide vital electricity to first responders during disasters, emergencies and power outages.
The new federal customers, most of which are receiving numerous sustainable EV ARC™ charging systems powered
- Defense Media Activity (DMA)
- Food and Drug Administration (FDA)
- Missile Defense Agency (MDA)
- National Park Service (NPS)
- Small Business Administration (SBA)
- United Cleanup Oak Ridge (UCOR, federal contractor)
“Rapid deployment, energy resiliency, energy security and disaster preparedness are becoming key decision factors in the EV charging infrastructure build out, for federal, state and local government entities. The continued expansion of EV ARC deployments demonstrates the increasing need for rapidly deployed, energy resilient and highly scalable solutions,” said Desmond Wheatley, CEO of Beam Global. “Disaster preparedness and energy resiliency are fast becoming national security level imperatives. We agree with the goal to have
The federal fleet is comprised of approximately 657,500 vehicles. Executive Order 14057 with its accompanying Federal Sustainability Plan calls for
In addition to the GSA-MAS and GSA-BPA contracts which simplify the federal procurement process and ensure best pricing, Beam Global products are on GSA's Disaster Purchasing Program which allows state and local government entities to buy directly from GSA-MAS Contract Number 47QSWA21D0006 at the federal discounted price to facilitate disaster preparation, response, or major disaster recovery.
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
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FAQ
Which federal customers have recently placed first-time orders for Beam Global's EV ARC™ systems?
What procurement contracts were used by the federal customers to purchase the EV ARC™ systems?
How do the solar-powered EV ARC™ systems benefit the federal government?
What is the goal set by Executive Order 14057 regarding zero-emission vehicle acquisitions?
How does Beam Global aim to contribute to disaster preparedness and energy resiliency?
