Beam Global Receives Federal Agency Repeat Order Through the Federal GSA MAS Contract

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) announces a fifth order for its EV ARC™ systems from a federal customer, utilizing the GSA Multiple Award Schedule Contract. This marks a significant step in government procurement processes, indicating increased federal investments in electric vehicle infrastructure. The company expects to benefit from rising government initiatives, including President Biden's proposed $174 billion investment in the EV market. Beam Global's products are designed for quick deployment and sustainability, enhancing the company’s competitive edge in the growing EV market.

Positive

• Fifth repeat order for EV ARC™ systems indicates strong demand.
• Utilization of GSA MAS Contract streamlines federal procurement.
• Anticipated growth from federal investments in EV infrastructure.

Negative

• None.

SAN DIEGO, May 06, 2021 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, announced that a federal customer has placed a fifth order for EV ARC™ systems. This repeat order was, for the first time, placed using General Services Administration (GSA) Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006.

“The rigorous application and vetting process to gain the GSA award was worth the effort. This customer has bought EV ARC systems on five separate occasions but this last one, using the GSA contract, was the fastest and easiest Federal procurement we have experienced by a long shot,” said Beam Global CEO Desmond Wheatley. “I believe that having this contract in place will be beneficial as we see increased government investment in EV charging infrastructure. Our made in America products offer clean, secure, rapidly deployed and highly scalable EV charging infrastructure. The timing couldn’t be better.”

On Jan. 27, 2021, President Biden issued an executive order that called for “clean and zero-emission federal, state, local, and tribal government fleets.” The federal government operates approximately 645,000 vehicles. President Biden also proposed $174 billion investment in the EV market and an additional 500,000 publicly available EV charging stations on U.S. highways. Beam Global views Federal investment in EV infrastructure as an important potential source of future revenues particularly now that the Company has been awarded a Federal GSA contract.

GSA MAS Contracts, frequently referred to as GSA Schedules, are pre-competed, Federal Acquisition Regulation (FAR) compliant contracts that serve to streamline the government procurement process. Federal agencies can purchase EV ARC™ ready-to-deploy solar EV Charging products on the GSA Advantage!® site. Due to the recent rebrand from Envision Solar to Beam Global, products are listed under Envision Solar while the name change is processed.

About Beam Global
Beam Global is a Cleantech leader that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree^® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.

The company develops, patents, designs, engineers and manufactures unique and advanced renewably energized products that save customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly Envision Solar, EVSI, EVSIW). For more information visit https://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.

Media Contact:
The Beam Team
BeamTeam@BeamForAll.com
+1 858-799-4583