Beam Global Receives $1.7M Order from the North Carolina Department of Adult Correction for Sustainable EV Charging Infrastructure Products
- None.
- None.
Insights
The recent order by the North Carolina Department of Adult Correction for Beam Global's EV ARC™ sustainable off-grid charging systems and ARC Mobility™ trailers signifies a growing trend in the electrification of transportation within government sectors. This adoption aligns with broader movements towards sustainability and the reduction of carbon footprints, which is a critical factor in the long-term growth and viability of companies like Beam Global.
As government and private sectors increasingly commit to zero-emission targets, the demand for infrastructure to support electric vehicles (EVs) is expected to rise. Beam Global's product offering, which eliminates the need for disruptive construction or electrical work, presents a competitive advantage in sectors where security and rapid deployment are paramount. This could potentially open up a substantial market for Beam Global, considering the thousands of correctional facilities across the U.S. alone.
Investors should note the potential for scale implied by the federal mandate for zero emissions in light-duty vehicles by 2027, which may drive further government contracts and adoption of Beam Global's technology. However, it's essential to monitor how the company manages the scaling of operations and whether it can maintain product quality and delivery efficiency as demand grows.
The procurement of Beam Global's charging systems by a state department is indicative of the company's ability to penetrate the public sector market, which can often provide stable and recurring revenue streams. Given the unique value proposition of Beam Global's products, including the ability to withstand natural disasters and provide electricity during blackouts, there could be an increase in demand from other sectors that require resilient infrastructure.
From a financial perspective, the scalability of Beam Global's offerings and the relatively low marginal cost of additional units could lead to improved profit margins as production ramps up. However, it is crucial to analyze the company's supply chain robustness and cost management strategies, especially in a market where the price of renewable technologies can be volatile.
Investors should look for future financial disclosures to assess the impact of such contracts on Beam Global's revenue and earnings. It will be important to evaluate whether these deals are one-off purchases or part of a larger, longer-term strategy by government agencies to transition to sustainable energy solutions.
The integration of Beam Global's EV ARC™ charging systems into the infrastructure of correctional facilities is a testament to the increasing importance of sustainable energy solutions in sectors not traditionally associated with environmental initiatives. The ability of these systems to operate off-grid and utilize renewable energy sources is particularly relevant as the energy sector continues to evolve towards decentralization and resilience against grid outages.
While the immediate impact of this order on the energy sector may be limited, the long-term implications suggest a potential shift in energy procurement practices, especially in government operations. As more agencies consider the benefits of off-grid, renewable-powered solutions, there could be a ripple effect that promotes similar adoptions across various industries, potentially influencing energy policies and regulations.
It is also noteworthy that the systems' disaster-preparedness features, such as flood and wind resistance, may set a new standard for infrastructure resilience, which could become increasingly vital in the face of climate change and extreme weather events.
SAN DIEGO, Feb. 01, 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 that the North Carolina Department of Adult Correction has ordered 19 Beam EV ARC™ sustainable off-grid charging systems and 2 ARC Mobility™ trailers to enable efficient transportation of the products.
The Beam EV ARC™ systems are off-grid and powered by renewable energy, generating and storing their own clean electricity. Each system is deployed with no construction, no electrical work, no utility connection and is delivered as a turnkey sustainable charging solution. Because EV ARC™ systems are flood-proof to 9.5 feet, wind-rated to 160 mph and continue to provide electricity during blackouts, they are particularly well suited to provide disaster preparedness for DHS component agencies. The ARC Mobility™ trailer is a specialized hydraulic transport system designed to efficiently relocate EV ARC™ charging systems without the requirement for any other equipment or site work.
“Correction facilities and other secure or sensitive locations can rapidly deploy EV ARC charging systems without disruptive construction and electrical projects which introduce significant security risk and can be outright prohibited,” said Beam Global CEO Desmond Wheatley. “Our ability to have a single person deliver operational EV charging in minutes instead of months means that correctional officers do not need to security-clear multiple-member construction teams or manage security during lengthy projects. Any secure environment offers an excellent opportunity for further EV ARC deployments. This is another excellent example of the unique and valuable attributes our rapidly deployed, low touch, infrastructure products bring to the EV charging space.”
Government and private fleets are moving to electric vehicles which are less expensive to operate and maintain, and help achieve often mandated, zero-emission targets. Sites with physical security concerns like correctional facilities, both public and private, need EV charging infrastructure without the risk that traditional installation projects introduce. Onsite demand for EV chargers to support new fleet EVs, employee workplace charging and visitor charging is on the rise. The solar-powered EV ARC™ electric vehicle charging systems are rapidly deployed with no digging, no construction, no electrical work and none of the teams generally required to perform those tasks.
According to the Federal Bureau of Prisons and the Census of State and Federal Adult Correctional Facilities, there are 4,527 federal, state and local correctional facilities in the U.S., both public and private. Beam Global anticipates that all such facilities will require EV charging particularly where mandates such as the federal government’s requirement that all light duty vehicles be zero emissions by 2027 are in force.
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
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 acquisition of Amiga, its expected benefits, 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. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.
Media Contact:
Skyya PR
+1 651-335-0585
Press@BeamForAll.com
Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com
FAQ
What is the ticker symbol for Beam Global?
How many Beam EV ARC™ sustainable off-grid charging systems were ordered by the North Carolina Department of Adult Correction?
What are the unique features of the Beam EV ARC™ systems?
Why are correctional facilities and secure locations interested in the EV ARC charging systems?
What is the federal government's requirement related to zero-emission vehicles, and how does it impact the demand for EV charging infrastructure?
How many federal, state, and local correctional facilities are there in the U.S.?
