Beam Global Receives First European Order for EV ARC™ Solar-Powered EV Charging Systems
- Beam Global receives a $1 million order from the UK Ministry of Defence for EV ARC™ charging systems and ARC Mobility™ trailer.
- The order is part of Project EVOLVE to provide rapid and transportable electric vehicle charging solutions on Cyprus.
- The UK Ministry of Defence's order signifies Beam Global's expansion into the European market with innovative sustainable infrastructure solutions.
- The EV ARC™ system is a solar-powered off-grid charging solution that requires no construction or utility connection, making it ideal for military and commercial deployments.
- Beam Global's CEO, Desmond Wheatley, highlights the company's successful entry into the European market and the growth potential in the sustainable EV charging sector.
- The UK government's commitment to zero emissions vehicles by 2027 and the EU's target of net-zero emissions by 2050 signal a growing demand for sustainable transportation solutions in Europe.
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Insights
The announcement of Beam Global's first order from the UK Ministry of Defence for EV ARC™ systems represents a significant milestone for the company and has implications for the broader electric vehicle (EV) infrastructure market. The order, valued at US$1 million, marks Beam Global's entry into the European market following its expansion through the acquisition of Beam Europe. This development could signal potential growth opportunities for the company and indicate a broader trend of increased military investment in sustainable technologies.
The commitment of the UK government to transition to zero-emission vehicles by 2027 and the EU's goal for zero emissions from new cars and vans by 2035, underline a growing market for EV infrastructure. This order may act as a catalyst for future procurement from government entities, potentially leading to increased revenue streams for Beam Global. The rapid deployment capability of the EV ARC™ systems, with no need for construction or electrical work, presents a competitive advantage in a market where agility and sustainability are becoming increasingly important.
From a financial perspective, the order from the UK Ministry of Defence is a positive indicator for Beam Global's performance and stock market valuation. The speed at which Beam Global secured a million-dollar order in Europe, compared to its initial experience in the U.S., suggests an accelerated adoption rate in the European market, which could lead to upward revisions in revenue forecasts. Furthermore, the size of the European automotive market, being larger than that of China or the U.S., provides a substantial addressable market for Beam Global's products.
Investors should monitor the company's ability to leverage this foothold to secure additional contracts within the UK and expand further into the European market. The strategic importance of sustainable energy solutions for defense applications also highlights the potential for diversification of Beam Global's customer base, which could mitigate risks associated with market volatility and enhance shareholder value in the long term.
The deployment of solar-powered, off-grid EV ARC™ systems represents a broader shift in energy security strategies, particularly within defense sectors. The ability to provide clean energy and power key defense equipment in remote locations aligns with global efforts to increase energy independence and resilience. Beam Global's patented technology, which includes an Emergency Power Panel, addresses a critical need for reliable and sustainable power sources in military operations.
As nations seek to reduce their carbon footprint and adhere to international climate commitments, the demand for renewable energy solutions in military applications is expected to rise. This trend could have a significant impact on the renewable energy sector, influencing innovation and investment priorities. Companies that offer rapidly deployable, multi-utility energy solutions like Beam Global are well-positioned to benefit from this shift, potentially influencing the dynamics of the energy market and the strategies of traditional energy providers.
UK Ministry of Defence to Deploy EV ARC™ Systems on Cyprus
SAN DIEGO, March 12, 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 Beam Global has received its first order from the UK Ministry of Defence (MoD) for ten EV ARC™ sustainable electric vehicle charging systems and one ARC Mobility™ trailer to be deployed at British Sovereign Bases on Cyprus through Project EVOLVE—Rapidly Deployable and Transportable Electric Vehicle Charging Solution per the requirement set out by the Crown Commercial Service (CCS) Spark Technology Innovation Marketplace Dynamic Purchasing System (DPS) Agreement (RM6094). The US
“Meeting the myriad challenges posed by climate change requires close collaboration between international allies. This fantastic project shows the strength and benefit of the UK and U.S. industry partnership,” said Brigadier Tom Harper – the British Strategic Command attaché to the U.S. “Beam Global’s patented solar-powered EV ARC will provide not only clean energy for British military electric vehicles in Cyprus, but the product is multi-utility and will be trialled to provide green energy and power key defence equipment in remote locations and overseas areas.”
The patented Beam EV ARC™ system is a solar-powered, off-grid charging solution that is rapidly deployed with no construction, no electrical work and no utility connection. Well-suited for military and commercial deployments, hundreds of systems have been deployed across U.S. locations for the U.S. Army, U.S. Marine Corps, U.S. Department of Homeland Security and several other U.S. federal agencies. Each EV ARC™ system generates and stores its own clean electricity and delivers that electricity to up to six Level 2 EV chargers capable of charging up to six electric vehicles simultaneously. The EV ARC™ fits in a standard parking space, is transportable and includes an Emergency Power Panel that can provide vital electricity for military equipment and personnel.
“We closed the acquisition that created Beam Europe in Q4 of 2023, and in Q1 of 2024 have been named a supplier to the UK government and have already received our first million dollar order from the British military. These EV ARC systems are the first to be deployed from the Beam Europe factory,” said Beam Global CEO Desmond Wheatley. “It took us five years to get our first million dollar order in the U.S. It’s taken five months to do the same thing in Europe. We are proud to add the UK Ministry of Defence to our list of military customers and we are delighted to kick off our European business with such a notable first order. The European automotive market is larger than China or the U.S. and is ideally suited for the deployment of Beam Global’s current and future suite of sustainable EV charging products.”
HM Government of the United Kingdom has committed that government owned cars and vans be zero emissions by 2027 and that
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).
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FAQ
What is the significance of Beam Global's order from the UK Ministry of Defence?
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