Beam Global Receives Multiple Orders from the Naval Facilities Engineering Systems Command (NAVFAC) for EV ARC™ Sustainable EV Charging Infrastructure Systems

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) announced multiple orders from the Naval Facilities Engineering Systems Command (NAVFAC) for its EV ARC™ sustainable off-grid charging systems, aimed at fleet charging across Florida, Hawaii, Louisiana, Mississippi, and Texas. The Federal Sustainability Plan requires all light-duty vehicle acquisitions to be electric by 2027, with federal EV purchases rising to 12% in fiscal 2022 from under 1% in 2021. The EV ARC systems are off-grid, powered by renewable energy, and designed for rapid deployment without construction or utility connections, supporting two vehicles simultaneously.

Positive

• Multiple orders for EV ARC™ systems from NAVFAC indicate strong demand for sustainable charging solutions.
• The evolving Federal Sustainability Plan mandates 100% zero-emission vehicle acquisitions by 2035, enhancing future growth potential for Beam Global.
• Beam's EV ARC systems are off-grid and quickly deployable, providing significant advantages in energy security and accessibility.

Negative

• None.

SAN DIEGO, Nov. 01, 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 the Naval Facilities Engineering Systems Command (NAVFAC) placed multiple orders with each order containing multiple Beam Global EV ARC™ sustainable off-grid charging systems. The systems will be used for fleet charging and will be deployed at locations in Florida, Hawaii, Louisiana, Mississippi and Texas. NAVFAC, which provides the U.S. Navy and U.S. Marine Corps with facilities and expeditionary expertise, placed the order through General Services Administration (GSA) Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006 which simplifies the federal procurement process and ensures best pricing.

“The Federal Sustainability Plan requires that all light duty vehicle acquisitions be electric by 2027. Federal purchases of EVs increased from just under 1% of federal vehicle acquisitions in fiscal 2021 to 12% in federal fiscal 2022,” said Beam Global CEO Desmond Wheatley. “As thousands of EVs get delivered to federal agencies across the U.S. in the coming months and years, we are already seeing the need for rapidly deployed EV charging infrastructure intensifying. We believe that the rapid and scalable deployment of our off-grid solar-powered EV ARC systems, combined with their immunity to centralized grid failure, is ideally suited for the coming needs of the electrification of transportation, and we expect continued growth in the federal sector.”

Each EV ARC charging system generates and stores its own electricity and delivers that power to up to two electric vehicles simultaneously. Off-grid and powered by renewable energy, the systems are rapidly deployed with no construction, no electrical work, no utility connection, and are delivered as turnkey sustainable charging systems. On-board battery storage enables EVs to charge during the night, inclement weather and grid outages, and the Emergency Power Panel can provide vital electricity to first responders in disasters and grid outages.

President Biden’s Executive Order 14057 with its accompanying Federal Sustainability Plan calls for 100% zero-emission vehicle acquisitions by 2035, including 100% light-duty acquisitions by 2027. This is prioritizing and accelerating a Federal Clean Electricity and Vehicle Procurement Strategy, calling for clean and zero emissions vehicles (ZEVs). The White House stated on October 20 that federal agencies quintupled purchases of EVs and PHEVs in the 12-months ending Sept. 30, moving from approximately 1% of vehicle acquisitions in the 2021 budget year to 12% of light-duty purchases in 2022. There are approximately six hundred and seventy five thousand vehicles in the federal fleet.

Beam Global’s rapidly deployed EV charging systems are procured by federal agencies through the General Services Administration (GSA) Multiple Award Schedule (MAS) Contract Number 47QSWA21D0006 which simplifies the federal procurement process and ensures best pricing.

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/c410c103-8344-436e-b904-c382b85c1241

FAQ

What recent orders did Beam Global receive from NAVFAC?

Beam Global received multiple orders from NAVFAC for its EV ARC™ off-grid charging systems for fleet charging.

How do Beam Global's EV ARC systems support electric vehicle charging?

Each EV ARC system generates and stores its own electricity, allowing simultaneous charging of two vehicles without needing construction or utility connections.

What is the Federal Sustainability Plan's goal regarding electric vehicles?

The Federal Sustainability Plan requires all light-duty vehicle acquisitions to be electric by 2027, aiming for 100% zero-emission vehicle acquisitions by 2035.

How have federal electric vehicle purchases changed recently?

Federal purchases of electric vehicles increased from just under 1% in fiscal 2021 to 12% in fiscal 2022.

In which states will Beam Global's systems be deployed?

Beam Global's EV ARC systems will be deployed in Florida, Hawaii, Louisiana, Mississippi, and Texas.