Beam Global Receives $11.7M Order for the U.S. Department of Veterans Affairs for 140 EV ARC™ Systems*

Rhea-AI Summary

Beam Global (BEEM, BEEMW) announced an order from the General Services Administration (GSA) for 140 EV ARC™ off-grid charging systems for the U.S. Department of Veterans Affairs (VA). These systems will be deployed at 34 locations across 12 states, supporting VA's transition to a zero-emission fleet in line with Executive Order 14057. The EV ARC™ systems provide renewable energy charging and can power vital equipment during outages. Beam anticipates continued growth in federal sector sales as sustainability initiatives gain traction.

Positive

• Order for 140 EV ARC™ charging systems increases revenue potential.
• Deployment across 34 VA locations enhances market presence.
• Supports federal sustainability goals, aligning with government initiatives.
• Innovative off-grid systems generate renewable energy, attracting eco-conscious clients.
• Partnership with GSA simplifies procurement process.

Negative

• None.

SAN DIEGO, Nov. 17, 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 the General Services Administration (GSA) placed an order for the U.S. Department of Veterans Affairs (VA) to receive 140 Beam EV ARC™ sustainable off-grid charging systems. The systems will be deployed across 34 locations in 12 states including Hawaii. The purchase was made by GSA for VA through GSA Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006 which simplifies the federal procurement process and ensures best pricing.

GSA is partnering with Veterans Affairs to build a more sustainable future for its fleet and its facilities across the country. VA’s EV ARC™ systems support Executive Order 14057 calling for 100% zero-emission federal fleet light duty vehicle acquisitions by 2027 and will support VA’s growing fleet of ZEVs that help serve Veterans. The EV ARC™ charging systems will be deployed at medical and administrative VA locations in Alabama, Arizona, California, Colorado, Florida, Georgia, Hawaii, Kansas, Missouri, Nevada, Texas and Virginia.

“We are thrilled to see American-made EV ARC systems going to the first of the 1,255 medical and administrative Veterans Affairs locations across the U.S. We proudly employ veterans and invite more to join us,” said Beam Global CEO Desmond Wheatley. “As federal initiatives like Executive Order 14057 and funding programs like the Inflation Reduction Act gain momentum, we expect continued growth in the federal sector. Our sustainable EV charging solutions create American manufacturing jobs to build American made products that serve zero emission transportation with 100% locally generated renewable and resilient energy. We look forward to helping VA and all our federal partners transition to electric vehicles and build a brighter future for coming generations.”

Each EV ARC™ charging system generates and stores its own electricity and delivers that power to a dual-plug EV charger from ChargePoint Holdings, Inc. (NYSE: CHPT), a leading EV charging network, to charge two electric vehicles simultaneously. Off-grid and powered by renewable energy, the systems are rapidly deployed turnkey sustainable charging systems requiring no construction, no electrical work and no utility connection. On-board battery storage enables EVs to charge during the night, inclement weather and grid outages, and the Emergency Power Panel can provide vital electricity to VA personnel and first responders during disasters and grid outages.

The VA’s Veterans Health Administration is the largest integrated health care network in the United States, with 1,255 health care facilities serving 9 million enrolled Veterans annually. President Biden’s Executive Order 14057 with its accompanying Federal Sustainability Plan calls for 100% zero-emission vehicle acquisitions by 2035, including 100% light-duty acquisitions by 2027. This is prioritizing and accelerating a Federal Clean Electricity and Vehicle Procurement Strategy, calling for clean and zero emissions vehicles (ZEVs) for federal, state, local and tribal government fleets. There are approximately six-hundred and seventy-five-thousand vehicles in the federal fleet.

For more information on how federal, local and state government entities can purchase Beam’s EV ARC™ turnkey sustainable EV charging solutions from the federal GSA Contract Number 47QSWA21D0006, please contact The Beam Team at 858-799-4583 or BeamTeam@BeamForAll.com.

*This order was made public during Beam Global’s earnings announcement on November 10, 2022

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/8a23a77c-5f78-45c9-a6f3-f67899647e52

Videos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/639265d8-2080-4b4a-9b4c-6d76050f3f85
https://www.globenewswire.com/NewsRoom/AttachmentNg/ff54c36b-fbcc-41f6-b097-6b61f04dedb9

FAQ

What is the significance of the GSA order for Beam Global?

The GSA order for 140 EV ARC™ systems signifies a strong market demand for sustainable charging solutions and aligns with federal zero-emission goals.

How many locations will the EV ARC™ systems be deployed in?

The EV ARC™ systems will be deployed at 34 locations across 12 states, including Hawaii.

What are the expected benefits of the EV ARC™ systems for the VA?

The EV ARC™ systems will support the VA's growing zero-emission vehicle fleet and provide reliable renewable energy charging.

Which federal sustainability initiative does this order support?

This order supports Executive Order 14057, which mandates 100% zero-emission federal fleet acquisitions by 2027.

What is Beam Global's stock symbol?

Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW.