Beam Global Issued Chinese Patent for Compact Transportation-Configurable EV ARC™ System

Rhea-AI Summary

Beam Global, a leader in sustainable technology for EV charging, announced the issuance of a new patent from the Chinese Patent Office for its EV ARC™ products. This patent allows for compact shipping of the products, facilitating easier global distribution.

Beam CEO Desmond Wheatley emphasized that the compact form-factor offers a significant competitive advantage. With a robust patent portfolio across multiple regions, the company positions itself for potential international expansion amidst China's growing EV market, which saw sales of 1.3 million units in 2020, making it a key player in the global EV landscape.

Positive

• Issuance of a new patent enhances the company's competitive edge.
• Compact shipping capability allows for global distribution without site work or grid connection.
• Strong patent portfolio in major markets (US, China, EU) supports international expansion.

Negative

• None.

SAN DIEGO, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, announced today the issuance of another patent by the Chinese Patent Office that covers the Company’s compact transportation-configurable EV ARC™ products.

The Chinese Patent Certificate for Patent No. ZL201680066408.6 is for the Company’s EV ARC™ product development, enabling configuration in a compact condition for shipping in a 20-foot shipping container (TEU) or on a flatbed, rail car, or the Company’s ARC Mobility™ proprietary transportation system.

“We already have various patents covering our rapidly deployed EV ARC systems in the US, China and the EU,” said Desmond Wheatley, Beam Global’s CEO. “Our ability to transform EV ARC into a compact shippable form-factor that can be easily shipped anywhere in the world in a container, is a significant differentiating advantage for us. I’m not aware of any other company that can deliver a rapidly deployed EV charging infrastructure product that requires no site work at its destination and no connection to the grid. Protecting this and all our other valuable IP in China and Europe is important particularly as we continue to consider international expansion opportunities.”

Total 2020 EV sales in China were 1.3 million, an increase of 8% compared to 2019, and 41% of all EVs sold worldwide. Though Europe sold more than China for the first time since 2015, China is still the world's biggest national market for EVs.

About Beam Global

Beam Global is a CleanTech leader that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.

The company develops, patents, designs, engineers and manufactures unique and advanced renewably energized products that save customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly Envision Solar, EVSI, EVSIW). 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.

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FAQ

What is Beam Global's latest patent related to?

Beam Global's latest patent pertains to its EV ARC™ products, allowing for compact configuration for shipping.

How does the new patent affect Beam Global's business?

The new patent enhances Beam Global's ability to ship its products globally in a compact form, thus increasing market reach.

What were the total EV sales in China in 2020?

Total EV sales in China reached 1.3 million units in 2020.

How does Beam Global's patent position it in the EV market?

Beam's patent positions it as a leader in rapidly deployed EV charging infrastructure without the need for grid connections.

What stock symbols represent Beam Global?

Beam Global is represented by the stock symbols BEEM and BEEMW.