Beam Global Secures First Sponsorship Deal with Globos Osiguranje to Deploy EV ARC™ Systems at Belgrade Airport

Rhea-AI Summary

Beam Global (BEEM) has announced its first sponsorship deal with Globos Osiguranje to deploy five EV ARC™ solar-powered charging stations at Belgrade Nikola Tesla Airport. This three-way partnership, including VINCI Airports, marks Beam's entry into an owner-operator business model, generating recurring revenue through long-term sponsorship payments. The charging stations, located in the P1 Prime car park nearest to the terminal, provide free public EV charging without utility costs or construction requirements. This model enables Beam to secure favorable economic terms on parking spaces while maintaining ownership of the systems, creating a sustainable revenue stream without typical operating costs.

Positive

• Secured first sponsorship deal generating long-term recurring revenue
• Established new owner-operator business model with favorable economic terms
• Zero operating costs due to off-grid solar power technology
• Strategic partnership with VINCI Airports opens potential expansion to 70+ airports globally

Negative

• None.

The EV ARC™ systems provide free public EV charging and a long-term recurring revenue stream for Beam Global

SAN DIEGO, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its first sponsorship deal with Globos Osiguranje, one of Serbia’s premier insurance companies. Under this deal, Globos Osiguranje has sponsored five EV ARC™ solar-powered EV charging stations that are now deployed at Belgrade Nikola Tesla Airport, Serbia's busiest international travel hub, and will provide free public electric vehicle (EV) charging.

In order to facilitate this sponsored Driving on Sunshine initiative, Beam Global previously secured an agreement with Belgrade Airport, part of VINCI Airports, an operator of over 70 airports in 14 nations across the globe, to operate the network in prime locations at Belgrade Nikola Tesla Airport with further cooperation with VINCI Airports to be considered.

This milestone three-way partnership marks Beam Global’s entry into an owner-operator business model, generating income through a long-term annuity stream with recurring payments. By retaining ownership of the EV ARC™ systems, Beam Global secures a steady, predictable revenue stream while delivering sustainable solutions. Globos Osiguranje is uniquely able to provide Driving on Sunshine sponsored EV charging for free to EV owners because EV ARC™ systems do not require utility electricity and do not generate costs for the energy dispensed. Providing the EV charging for free while monetizing the sponsorship significantly lowers administrative costs and risks. The amenity value delivered to site hosts enables Beam Global to receive highly favorable economic terms on the parking spaces in which the EV ARC™ systems are placed. This unique model means that sponsorship payments are not diluted by typical operating costs which might burden companies that do not have Beam Global’s technology advantage.

“I have been describing this sponsorship model for several years. The partnership with Globos Osiguranje at the Belgrade Airport is an exciting milestone for Beam Global as we continue to expand across Europe and it’s very exciting in that it validates the Driving on Sunshine sponsorship model,” said Desmond Wheatley, CEO of Beam Global. “We are delighted to be working with Vinci. Airports represent a tremendous opportunity for sustainable infrastructure solutions but they cannot afford to have their parking lots disrupted by construction and electrical work because they work 365 days a year. With this sponsorship model and our zero construction deployments, we are opening doors for similar engagements in major travel hubs throughout the world. We’re committed to providing clean, reliable off-grid EV charging solutions that not only meet the growing demand for public charging infrastructure but also create a sustainable, recurring revenue stream for Beam with very favorable terms and no disruption for our airport or other partners.”

Five solar-powered EV ARC™ units are now deployed for public EV charging at the Belgrade Airport. Each off-grid unit can charge multiple vehicles at once, making it a resilient and sustainable solution for the airport’s high-traffic environment. The systems are positioned in P1, Prime, the closest car park to the terminal building.

“We are proud to be at the forefront of promoting sustainable energy solutions in Serbia through this sponsorship with Beam Global,” said Siniša Pratljačić, CEO at Globos Osiguranje. “By sponsoring EV ARC™ products at one of Serbia’s most frequented locations, we are taking an important step in our commitment to environmental responsibility and green innovation.”

“We are proud to make Belgrade Airport the first airport in the world to offer free, standalone, 100% solar-powered EV charging” said Chivoine Rem, Belgrade Airport CEO. We are proud to lead the way in innovations and sustainable business practices, with a strong focus on reducing greenhouse gas emissions, water usage, protecting biodiversity and sustainable waste management. Our commitment to minimizing our carbon footprint aligns with VINCI Airports’ global policy, which aims for zero CO2 emissions by 2050. To optimize energy consumption and to reduce CO2 emissions, we employ a range of strategies – we are already producing the energy from our solar power plant for couple of years and besides previously installed chargers at Tesla parking we are offering our customers with solar-powered EV chargers. These initiatives make Belgrade Airport unique in Serbia. Filling their EVs with renewable energy while they are here is an excellent example of the benefits that we are working to create. The partnership with Beam Global means that we are constantly able to offer more comfort to our travelers.

This first-of-its-kind partnership not only enhances Serbia’s green infrastructure but also demonstrates Beam Global’s potential to expand its unique EV charging solutions globally through sponsorship and owner-operator models.

To learn more about Beam Global’s sustainable charging solutions visit beamforall.com.

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. Beam Global is headquartered in San Diego, CA with facilities in Chicago, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly Twitter).

About Globus Osiguranje

Globos Osiguranje, OMR Group member, is the fastest growing insurance company on Serbian market, specialised in the non-life insurance, known for its innovative approach and commitment to customer satisfaction. Over the past three decades, we have rapidly expanded our services and client base, enlarged our portfolio tailored for customer needs and we are leader in promptness in claims handling. We pride ourselves on providing personalized service and building long-lasting relationships. Our customer feedback loop allows us to continuously refine our offerings, ensuring we meet and exceed expectations. With three decades of experience and a reputation for promptness and reliability, Globos Osiguranje is not just a choice for non-life insurance, but truly reliable friend in protecting what matters most to you.

About VINCI Airports

The world’s leading private airport operator, VINCI Airports operates more than 70 airports in 14 countries. Thanks to its expertise as a global integrator, VINCI Airports develops, finances, builds and manages airports by providing its investment capacity and its know-how in optimizing operational performance, modernizing infrastructure and managing their operations and environmental transition. VINCI Airports is the first airport operator to have committed to an international environmental strategy in 2016, to achieve the goal of net zero emissions across its entire network by 2050.
www.vinci-airports.com

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. 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. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/a03b5129-8998-41cb-84a4-eb06b549979e

https://www.globenewswire.com/NewsRoom/AttachmentNg/9705814c-3509-41bc-88e6-8a26965514aa

FAQ

How many EV ARC charging stations did Beam Global (BEEM) deploy at Belgrade Airport?

Beam Global deployed five EV ARC solar-powered EV charging stations at Belgrade Nikola Tesla Airport.

Where are the Beam Global (BEEM) EV ARC charging stations located at Belgrade Airport?

The EV ARC charging stations are located in P1, Prime, which is the closest car park to the terminal building.

What is unique about Beam Global's (BEEM) charging station sponsorship model?

The model provides free EV charging without utility costs, generates recurring revenue through sponsorship payments, and requires no construction or electrical work for deployment.

Who is sponsoring the Beam Global (BEEM) EV ARC charging stations at Belgrade Airport?

Globos Osiguranje, one of Serbia's premier insurance companies, is sponsoring the EV ARC charging stations.