Beam Global Receives $2.4 million Order from SparkCharge for its AllCell™ Battery Products
Beam Global has secured a $2.4 million order from SparkCharge for its Beam AllCell™ battery storage products, following the recent acquisition of AllCell Technologies on March 4, 2022. The order consists of two purchase orders, one for approximately $1.9 million and the other for around $500,000. CEO Desmond Wheatley emphasized that the acquisition aims to enhance technology, cut costs, and diversify revenue streams. Beam's AllCell™ technology is tailored for high power applications in compact spaces, supporting various electric vehicle and micro-mobility solutions.
- Secured a $2.4 million order from SparkCharge for AllCell battery products.
- Acquisition of AllCell Technologies diversifies revenue and enhances technology.
- Order received shortly after the acquisition indicates strong market demand.
- None.
SAN DIEGO, March 09, 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 that it received a
“The acquisition of AllCell was about improving our technology and supply chain, cutting costs and diversifying revenue opportunities,” said Beam Global CEO Desmond Wheatley. “I’m delighted to announce a significant order from our new energy storage business unit so soon after closing the acquisition. The Beam Team is executing, and our new team members in Chicago are already contributing meaningfully towards growing our business, improving our products and engineering cost reductions.”
“We have made the world’s first and only mobile, intelligent EV charging network. Partnering with Beam AllCell will help us create the next generation of mobile charging,” said Josh Aviv, CEO and Founder of SparkCharge and Currently. “We are looking forward to powering the future of mobility and clean energy.”
Beam AllCell™ energy storage technology with its highly flexible battery platform architecture is ideally suited for applications where energy density, safety and specialized enclosures require high power in small spaces. Drones, submersibles, recreational products and a host of micro mobility and electric vehicle and EV charging products are already benefiting from Beam’s highly differentiated energy storage products.
Beam Global closed the all-stock transaction to acquire AllCell Technologies, a leader in energy storage solutions and technologies, last week, expanding revenue opportunities, customer base and product offerings while reducing COGS and supply chain risk for its flagship EV ARC™ line of sustainable EV charging products. A recorded video interview with Beam CEO, Desmond Wheatley, discussing the acquisition is live on the Beam blog.
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.
About SparkCharge
SparkCharge has created the world’s largest mobile electric vehicle charging network. This network is now a reality due to three key factors: hardware, software, and brilliant customers. The Roadie Charging System is a portable, powerful, modular charging solution that makes DC fast charging possible anywhere regardless of infrastructure. The app and EV power delivery service Currently, allows EV drivers to have their EV charged wherever and whenever they want. To learn more about SparkCharge go to: https://www.SparkCharge.io
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.
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