Beam Global Received Record Orders Through California and Federal Contracts from Extensions to Other Government Entities in 2022

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) reported a record $6.6 million in contract extension orders for 2022, marking a year-over-year increase of over 4000%. This achievement is attributed to the expanded California DGS contract and federal GSA contract, allowing government entities across all 50 states to procure EV charging infrastructure efficiently. The company emphasizes the rising demand for its solar-powered EV ARC systems, which provide disaster preparedness and can operate independently of the grid. CEO Desmond Wheatley expressed optimism for continued growth in 2023.

Positive

• Record contract extension orders of $6.6 million in 2022, up over 4000% year-over-year.
• Expanded California DGS contract now available to all 50 states, streamlining procurement for government entities.
• Federal GSA contract facilitates procurement for disaster preparedness and ensures competitive pricing.

Negative

• None.

SAN DIEGO, Dec. 14, 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, announced that it received record orders in 2022 through key government contracts via extensions to non-contract holders. Beam Global’s new and expanded California DGS contract is now available to all 50 states and the federal GSA contract can also be used by a variety of non-federal government agencies. In 2022 contract extension orders totaled over $6.6M, saving local and state governments across the U.S. time and money while enabling them to acquire Beam Global’s rapidly deployed EV charging infrastructure products without going through extensive individual contracting processes.

The State of California Department of General Services (DGS) allows government entities in other U.S. states to buy Beam infrastructure products through Beam Global DGS contract #1-22-61-16 at the California negotiated best price, without their having to go through a lengthy competitive procurement or technology review process. Similarly, the federal General Services Administration (GSA) Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006, which simplifies the federal procurement process and ensures best pricing, can be used by many state and local government agencies when used for disaster recovery or preparedness purposes. Beam Global EV ARC™ off-grid EV charging systems qualify as disaster preparedness assets because they continue to charge EVs during grid outages and can be equipped with an emergency power panel.

Purchases through these two contract vehicle extensions of Beam products were a record $6.6 million in 2022 to date, an increase YOY of over 4000%. Government entities in Arizona, Florida, Maryland, Massachusetts, New Jersey, New Mexico and New York took advantage of these contract vehicles to procure sustainable EV charging infrastructure at best negotiated pricing.

“Now that all 50 states can use the California DGS or Federal GSA contracts to buy our rapidly deployed solar-powered EV charging systems, we’ve seen increasing sales from entities that need EV charging and disaster preparedness faster than traditional contracting processes allow,” said Beam Global CEO Desmond Wheatley. “The need for EV charging infrastructure is becoming greater and more urgent every day and now we can add rapid and easy contracting to our ability to rapidly scale and deploy without construction or electrical work and without utility bills, grid capacity constraints or vulnerability to black-outs. We are busier than ever and we’re planning on getting even busier in 2023.”

Solar-powered EV ARC™ electric vehicle charging infrastructure products are rapidly deployed with no digging, no construction and no electrical work. Off-grid and 100% solar-powered, EV ARC™ systems generate and store their own clean electricity and deliver that energy to up to six EV chargers capable of charging six vehicles simultaneously. The customer can choose any quality brand charger that works for their organization or use case, which is pre-installed on the EV ARC™ at the Beam factory and arrives at the customer site ready to charge EVs.

For more information on purchasing Beam EV ARC™ ready-to-deploy sustainable EV charging solutions at DGS or GSA pricing, please contact The Beam Team at 858-799-4583 or BeamTeam@BeamForAll.com.

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

FAQ

What were Beam Global's contract extension orders for 2022?

Beam Global reported record contract extension orders of $6.6 million in 2022, an increase of over 4000% year-over-year.

How does the California DGS contract benefit government entities?

The California DGS contract allows government entities to purchase Beam products across all 50 states, simplifying the procurement process.

What is the significance of Beam's federal GSA contract?

The federal GSA contract streamlines procurement for various government agencies and ensures best pricing for emergency preparedness.

What is the main product offered by Beam Global?

Beam Global primarily offers solar-powered EV ARC systems designed for rapid deployment and energy independence.

What are Beam Global's plans for 2023?

CEO Desmond Wheatley indicated plans for increased sales and activity in 2023, driven by rising demand for EV charging infrastructure.