Beam Global - BEEM STOCK NEWS

Beam Global (BEEM) has received its first order for BeamSpot™ curbside EV chargers from a Fortune 500 utility company. Multiple corporate offices will each install three BeamSpot™ systems, which combine solar, wind, and utility-generated electricity stored in proprietary integrated batteries. The system provides street lighting and EV charging while integrating with existing streetlight infrastructure.

The BeamSpot™ solution offers higher charging capacity than traditional streetlight charging solutions and continues operating during grid failures. This off-grid-capable system requires no complex construction or utility upgrades, targeting urban areas, residential neighborhoods, parking lots, and public venues.

Beam Global (Nasdaq: BEEM) has appointed Andy Lovsted as Vice President of Sales to lead the company's expansion in EV infrastructure and energy security markets. Lovsted brings over 20 years of executive leadership experience, most recently serving as VP of Sales at Nice North America , where he managed partnerships worth approximately $500M in annual revenue. His expertise includes transportation, storage, and security technologies. At Beam Global, he will focus on optimizing internal team capabilities and expanding distribution networks through agents, resellers, and distributors.

Beam Global (Nasdaq: BEEM) has launched the BeamWell™ water desalination and e-mobility delivery system, designed to address critical needs in humanitarian crisis zones. The system, based on the patented EV ARC™ technology, provides three essential services:

1. Turns seawater into fresh water, storing 3000 liters daily
2. Generates electricity for medical devices, communications, cooking, and lighting
3. Charges four integrated Benzina Zero electric mopeds for aid distribution

The BeamWell™ system is self-contained, rapidly deployable, and requires no supporting infrastructure. Beam Global is finalizing deployment plans, with the first systems expected to be delivered to the Middle East through global aid organizations to address urgent needs in conflict-affected regions.

Beam Global (NASDAQ: BEEM), a provider of sustainable infrastructure solutions for transportation electrification and energy security, has announced its participation in the 17th annual LD Micro Main Event. Desmond Wheatley will represent the company, presenting on Tuesday, October 29th at 11:00 AM PT at the Luxe Sunset Boulevard Hotel in Los Angeles.

The event, running from October 28th to 30th, will feature approximately 150 companies presenting in half-hour increments and attending private investor meetings. Mr. Wheatley will be available for one-on-one meetings with registered investors. Interested parties can schedule meetings through CORE IR or the LD Micro Conference online platform.

Chris Lahiji, Founder of LD Micro, emphasized the event's significance in the small and micro-cap industry, describing it as essential and groundbreaking for the future.

Beam Global (Nasdaq: BEEM) has announced its entry into the Ethiopian market, marking its first move to support Africa's electrification efforts. The company has appointed Princess Leila Bon Abajobir Abajifar and Princess Zyeneb Abajobir Abajifar as agent partners to assist in entering Ethiopia and broader African markets. This strategic move aligns with Ethiopia's recent ban on importing internal combustion engine vehicles and its rapid adoption of EVs, which has already met a 10-year target of 148,000 EVs in just two years.

Beam Global aims to provide innovative and sustainable infrastructure solutions for transportation electrification and energy security in Ethiopia. The company is pursuing a collaborative partnership with the Ethiopian government to encourage investment in off-grid infrastructure and support EV market growth. Beam Global's solutions, which have been successful in 17 nations worldwide, are expected to help meet Ethiopia's growing EV needs, reduce fossil fuel reliance, and enhance energy security.

Beam Global (Nasdaq: BEEM) announced that its EV ARC™ systems in the southeastern United States continued to operate during Hurricane Helene, a Category 4 storm with winds up to 140 mph. The systems at Bay Pines Florida Veterans Affairs Health Care in Big Bend remained operational even when submerged in eight feet of storm surge, providing vital emergency power. EV ARC™ charging infrastructure is designed to withstand winds up to 165 mph and operate in 9.5 feet of flooding.

These systems, designated by the GSA as disaster preparedness products, offer 120v and 240v outlets for first responders during grid outages. CEO Desmond Wheatley highlighted the products' resilience and relevance in the face of increasing global electricity demand and natural disasters. The frequency of billion-dollar weather and climate disasters in the U.S. has risen from 5.8 events per year in the 1980s to over 22 annually in recent years, emphasizing the need for resilient, off-grid infrastructure solutions.

Beam Global (Nasdaq: BEEM) has introduced the BeamBike™, a new solar-powered electric bike charging product. This innovative solution can charge up to 12 ebikes simultaneously on an off-grid, transportable platform that can be deployed within minutes. The BeamBike™ generates and stores clean electricity, providing charging through twelve 120 V outlets compatible with any ebike charger.

The product addresses the growing need for secure outdoor ebike charging, mitigating risks associated with indoor charging. It's designed for various locations including transit centers, parks, campuses, and workplaces. The global electric bike market is projected to grow from $50.1 billion in 2024 to $148.7 billion by 2032, with a CAGR of 14.6%. Beam Global's BeamBike™ leverages the company's EV ARC™ system platform, allowing for rapid market entry and utilization of existing engineering successes.

Beam Global (Nasdaq: BEEM) has launched BeamSpot™, a sustainable curbside EV charging solution that integrates with existing streetlight infrastructure. This patented system combines solar, wind, and utility-generated electricity into proprietary integrated batteries, providing resiliency, lighting, and EV charging.

BeamSpot™ is designed for public use in areas where EV charging is most needed but traditional installation methods are challenging, such as street parking, multi-unit housing communities, and public access complexes. The product aims to expand charging access while minimizing disruptive construction and electrical work. It can reduce installation time, cost, and complexity of expanding EV charging infrastructure, while also lowering utility costs and increasing grid resiliency.

Beam Global (Nasdaq: BEEM) has closed the acquisition of Telcom, a European company based in Belgrade. This strategic move brings new customers, revenues, margins, and power electronics expertise to Beam Global. The acquisition is expected to enhance product quality, reduce costs, and improve profitability through the replacement of third-party components with proprietary solutions.

The deal structure involves a purchase price of EUR 815,298, with EUR 385,298 paid in unregistered Beam Global common stock and EUR 430,000 in cash. An additional EUR 250,000 in stock may be earned if Telcom meets certain revenue milestones. Telcom reported over EUR 600,000 in revenue in 2023, with significant growth expected in 2024. The acquisition aligns with Beam Global's vertical integration strategy and market expansion efforts.