Beam Global Awarded Federal Blanket Purchase Agreement (BPA) for Electric Vehicle Charging Infrastructure

Rhea-AI Summary

Beam Global has been awarded a Federal Blanket Purchase Agreement by the U.S. General Services Administration for the purchase of Electric Vehicle Supply Equipment (EVSE). This agreement allows federal agencies to procure EV ARC™ systems easily, promoting the electrification of the federal fleet. With approximately 657,500 federal vehicles generating significant greenhouse gas emissions, the initiative aligns with government goals for 100% zero-emission vehicle acquisitions by 2035. The awarding highlights Beam's role in reducing emissions and supports sustainable infrastructure development.

Positive

• Awarded a Federal Blanket Purchase Agreement, facilitating easier procurement of EV charging solutions.
• Aligns with government goals for 100% zero-emission vehicle acquisitions by 2035, increasing potential demand for Beam's products.
• Beam Global's products are highlighted in the National Electric Vehicle Infrastructure (NEVI) guidance document, enhancing brand visibility.

Negative

• None.

Program aims to accelerate the electrification of the federal fleet by making EV charging solutions easier to purchase

SAN DIEGO, April 27, 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, today announced the U.S. General Services Administration (GSA) Office of Fleet Management awarded Beam Global a Federal Blanket Purchase Agreement (BPA) for Electric Vehicle Supply Equipment (EVSE) and Ancillary Services. The award provides federal agencies and organizations a streamlined procurement process to purchase EV ARC™ sustainable EV charging systems in support of the government's initiative for the electrification of the federal vehicle fleet. Beam Global was previously also awarded GSA Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006.

On February 10, 2022 the Federal Highway Administration published the National Electric Vehicle Infrastructure (NEVI) Formula Program Guidance. The front cover of the guidance document which provides funding eligibilities, and program guidance for implementation of historic investments in electric vehicle (EV) charging infrastructure, uses a photograph of Beam Global’s products fast charging an EV in a California rest stop. There are no other photographs in the document. Some in government are calling for at least 25% of all EV charging stations to be supplied by locally generated and stored electricity which continues to operate during grid failures.

The federal fleet is comprised of approximately 657,500 vehicles. Last year President Biden signed Executive Order 14008 and subsequent Executive Order 14057 with its accompanying Federal Sustainability Plan which calls for 100% Zero-Emission Vehicle Acquisitions by 2035, including 100% light-duty acquisitions by 2027. This will prioritize and accelerate a Federal Clean Electricity and Vehicle Procurement Strategy, calling for clean and zero emissions vehicles (ZEVs) for federal, state, local and tribal government fleets, including vehicles of the United States Postal Service.

“Our made in America products are rapidly deployed without construction or electrical work. They are highly scalable, clean and sustainable, and provide a source of fuel and emergency power during utility grid failures and without a utility bill. They are also ideal for providing EV charging in highway corridor locations where grid availability might be scarce,” said Desmond Wheatley, CEO of Beam Global. “We offer the U.S. federal government the fastest route to hitting its laudable and ambitious EV charging infrastructure goals. It makes perfect sense that we have been awarded this new contract and that we are on the front cover of the NEVI guidance document.”

Transportation accounts for roughly 29% of U.S. greenhouse gas emissions (GHG) or approximately 6,558 million metric tons of CO2 equivalent. The federal fleet’s approximately 657,500 vehicles generated an estimated 3.4 million metric tons of GHG emissions. This program presents the perfect opportunity for the federal government to lead by example in reducing greenhouse gas (GHG) emissions by moving to a zero-emission fleet.

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

A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f89fc74e-b958-4eb5-a465-12e0dc19e152

FAQ

What is the significance of Beam Global's Federal Blanket Purchase Agreement?

The Federal Blanket Purchase Agreement streamlines the procurement process for federal agencies, enabling them to purchase EV ARC™ charging systems easily as part of the U.S. government's electrification initiative.

How many vehicles are in the federal fleet?

The federal fleet comprises approximately 657,500 vehicles, which contribute significantly to greenhouse gas emissions.

What are the goals of the U.S. government regarding electric vehicles?

The U.S. government's goals include achieving 100% zero-emission vehicle acquisitions by 2035 and 100% light-duty acquisitions by 2027.

What impact does Beam Global's agreement have on greenhouse gas emissions?

The agreement supports the federal government in reducing greenhouse gas emissions by transitioning to a zero-emission fleet, addressing approximately 3.4 million metric tons of emissions from federal vehicles.

What does Beam Global's product offering include?

Beam Global offers innovative EV charging systems, energy storage solutions, and technologies aimed at promoting sustainable energy use and reducing emissions.