Beam Global Sees Continuing Orders of EV ARC™ Solar-Powered EV Charging Systems for Multiple California State Agencies

Rhea-AI Summary

Beam Global (Nasdaq: BEEM, BEEMW) reports continued demand for its solar-powered EV ARC™ systems, with orders from various California State Agencies in 2022. These off-grid systems reduce costs by eliminating the need for construction and utility bills. Over 75% of the orders were multi-unit, with all systems featuring an Emergency Power Panel for first responders. The California government’s investment in EV infrastructure and commitment to sustainable transportation bodes well for future sales. Beam’s long-standing DGS contract simplifies procurement for other governmental entities, enhancing market access.

Positive

• Continued orders from California State Agencies for EV ARC™ systems in 2022.
• Over 75% of orders are multi-unit, indicating strong demand.
• All systems include Emergency Power Panels enhancing disaster preparedness.
• California government's focus on EV infrastructure supports future sales growth.
• Simplified procurement process through DGS contract increases accessibility for other governmental entities.

Negative

• None.

SAN DIEGO, Oct. 27, 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 a continued stream of orders from California State Agencies for 2022 year-to-date, with EV ARC™ systems ordered for the Department of General Services (DGS), California Highway Patrol (CHP), Department of Parks and Recreation, Department of State Hospitals, California Military Department (CMD), Department of Public Health (CDPH) and Civilian Marksmanship Program (CMP). The systems were purchased using the California Department of General Services (DGS) contract #1-22-61-16 which simplifies the state procurement process and ensures best negotiated pricing.

The solar-powered EV ARC™ EV charging infrastructure products are off-grid, generate and store their own electricity, and are deployed with no electrical work, no construction, and no utility bill, reducing California’s costs through avoided construction, electrical upgrades, operational disruptions and ongoing utility bills. Over 75% of the EV ARC™ systems ordered by the State are multi-unit orders, and 100% of the systems include the optional Emergency Power Panel that can provide vital electricity to first responders in disasters, emergencies and power outages.

“California has some of the most ambitious transportation electrification plans in the US and budget commitments which rival those of the Federal government,” said Beam Global CEO Desmond Wheatley. “We have been receiving re-orders through the DGS contract since 2015. This single contract vehicle enables all the fantastically diverse state government departments as well as any other governmental organization in California to buy our products without going through any time consuming or complex process. California has also opened its contract vehicle to be used by other states if they so choose. Combined with our Federal GSA contract which is open to state governments who need disaster preparedness solutions, we have more or less the whole country covered with simple purchasing mechanisms at a time when we are seeing a dramatic acceleration of the need for rapidly deployed and highly dependable charging infrastructure and disaster preparedness products.”

California Governor Gavin Newsom presented a $286.4 billion budget proposal, dubbed the “California Blueprint,” in January. The plan suggests spending $22.5 billion to address the burgeoning climate crisis in the state, allocating $6.1 billion to electric vehicle related initiatives. California also became the first state to join Europe in committing to effectively banning sales of new, internal combustion engine vehicles by 2035. 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.

California allows other state, local and municipal entities to purchase from the California DGS contract #1-22-61-16 which simplifies the government procurement process and makes chosen solutions available at the best negotiated pricing. For more information on Beam sustainable EV charging and energy storage solutions, please contact the BeamTeam@BeamForAll.com or 858-799 4583.

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.

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