Beam Global Receives Multiple Orders from New Jersey State Agencies for EV ARC™ Solar EV Charging Systems

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) announced a significant increase in orders for its EV ARC™ sustainable EV charging systems from New Jersey agencies, including the NJDOT and NJDEP. These 100% solar-powered systems enhance public and workplace charging capabilities while offering disaster preparedness benefits. Each system supports multiple cars and is designed to save costs on construction and utility bills. CEO Desmond Wheatley emphasized the growing demand for EV charging infrastructure driven by state and federal funding, predicting a long-term growth trend for the company.

Positive

• Increased orders from NJDOT and NJDEP for EV ARC™ charging systems.
• 100% solar-powered systems save state budgets on construction and utility costs.
• Federal funding for EV infrastructure enhances market demand.
• CEO predicts a long-term growth trend in EV charging infrastructure.

Negative

• None.

SAN DIEGO, Oct. 25, 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 more agencies in the State of New Jersey have ordered EV ARC™ sustainable EV charging systems. The New Jersey Department of Transportation (NJDOT) and the New Jersey Department of Environmental Protection (NJDEP) have ordered multiple systems for workplace and public charging. Some of the systems were purchased using the General Services Administration (GSA) Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006 which simplifies the federal procurement process and ensures best pricing; advantages which can be extended to many state and local government agencies when used for disaster recovery or preparedness purposes.

The New Jersey Department of Environmental Protection is focused on protecting the state’s environment and public health. The 100% solar-powered EV charging systems will be available for public use and workplace charging. Each NJDEP EV ARC™ system will have 4 Enel X JuiceBox^® Pro EV chargers charging up to 4 vehicles simultaneously. The systems are off-grid, generate and store their own electricity, and are deployed with no electrical work, no construction, and no utility bill—saving state budgets through avoided construction costs, electrical upgrades, operational disruptions and ongoing utility bills. EV ARC™ systems are disaster preparedness assets which provide vital EV charging during blackouts and/or in locations where there is no access to the utility grid.

The New Jersey Department of Transportation EV ARC™ systems have been deployed at the Trenton headquarters, Cherry Hill and Mt. Arlington locations and are available for workplace charging. Each NJDOT EV ARC™ system can charge two EVs simultaneously and includes an emergency power panel that can provide vital electricity for first responders in the event of natural disaster or grid outages.

“State agencies across the US are stepping up their spending on EV charging infrastructure,” said Beam Global CEO Desmond Wheatley. “New Jersey and 33 other states have purchased Beam Global products. State funds and the $7 billion federal funding for EV charging infrastructure in the Inflation Reduction Act, along with an increased urgency to deploy EV charging ahead of government EV deliveries, have changed the cadence of orders for our products. We believe this is just the beginning of a decades-long growth trend that will continue to drive the adoption of Beam Global products.”

The Biden administration announced in September 2022 that federal officials had given the green light to plans submitted by every state, the District of Columbia and Puerto Rico, giving those governments access to $5 billion to deploy plug-in charging systems for America’s growing adoption of electric vehicles. Another $2.5 billion for EV charging infrastructure (part of the Inflation Reduction Act) is expected to be rolled out in the future. The Center for Climate and Energy Solutions (C2ES) August 2022 update on U.S. State Climate Action Plans highlights that 29 states have released a climate action plan and 4 are in the process of revising or developing one. Climate action plans generally include greenhouse gas (GHG) emissions reduction targets and detail actions the state can take to help meet those goals. The United States Climate Alliance is a bipartisan coalition of states and unincorporated self-governing territories in the United States that are committed to upholding the objectives of the 2015 Paris Agreement on climate change within their borders, by achieving the U.S. goal of reducing greenhouse gas (carbon dioxide equivalent) economy-wide emissions 26–28% from 2005 levels by 2025[4] and meeting or exceeding the targets of the federal Clean Power Plan.

For more information on purchasing Beam’s EV ARC™ ready-to-deploy sustainable EV charging solutions please contact The Beam Team at 858-799-4583 or BeamTeam@BeamForAll.com.

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 video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c8c29aa-66c8-4a6b-b611-02d69f37dca2