Beam Global Receives $900k Battery Order to Power Autonomous Delivery Drones

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) has announced a $927k order for its energy storage solutions aimed at powering autonomous delivery drones. This order highlights Beam's patented thermal management technology, enhancing safety and energy density. CEO Desmond Wheatley noted the potential of the drone market, projected to reach $100B as demand for delivery solutions rises, especially post-pandemic. The company’s energy storage solutions, including the PCC™ technology, are produced in its Illinois facility, supporting a greener delivery system while reducing fossil fuel reliance.

Positive

• Received a $927k order for energy storage solutions aimed at autonomous delivery drones.
• The projected global drone market growth of $100B presents significant business opportunities.
• The patented technology offers superior safety, higher energy density, and longer battery life.

Negative

• None.

SAN DIEGO, July 28, 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 a $927k order for Beam Global’s energy storage solutions to power autonomous on-demand delivery drones. The battery packs include Beam’s patented thermal management technology for superior safety, higher energy density and longer life. The customer is an American company that designs, manufactures and operates an automated delivery system.

“The global market for drones is expected to grow at a fantastic pace over the next decade. Goldman Sachs is calling it a $100B market," said Beam Global CEO Desmond Wheatley. "We are confident that drones powered by Beam’s advanced battery technology are going to be part of that growth and so will our patented UAV ARC, rapidly deployed, off grid, drone recharging product. This is another good example of how our acquisition of a highly differentiated battery technology company puts us in a leadership position for the future of electrified transportation.”

The drones powered in this case perform delivery services for a range of applications from Fortune 100 retailers to startups and global partners. Powering their automated delivery system with safe, clean, efficient energy storage solutions from Beam Global allows the customer to safely and reliably deliver products while reducing fossil fuel use, improving air quality and decreasing road traffic.

The Beam Global energy storage solutions used in the autonomous drones include patented PCC™ technology for advanced thermal management and energy density. The advanced compact, lightweight, and long-lasting lithium-ion batteries are manufactured in Beam’s Broadview Illinois facility by our team of world-class engineers and battery experts.

The drone package delivery market is projected to grow at a CAGR of 49.0% from 2022 to 2030. Increasing private investments in drones and increase in e-commerce sales and demand for contactless delivery post-pandemic are some of the factors fueling the growth of the market. During the COVID-19 pandemic, various countries have realized the potential of drone technologies and have provided relaxation in terms of their regulation.

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

FAQ

What is the recent order announced by Beam Global for its energy storage solutions?

Beam Global announced a $927k order for its energy storage solutions for powering autonomous delivery drones.

How much is the global drone market expected to grow?

The global drone market is projected to reach $100B, as stated by Beam Global CEO Desmond Wheatley.

What technology does Beam Global use in its energy storage solutions?

Beam Global utilizes patented thermal management technology in its energy storage solutions for enhanced safety and efficiency.

What are the ticker symbols for Beam Global?

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