Beam Global Signs First European Distribution Agreement
Beam Global (Nasdaq: BEEM) has signed its first European distribution agreement with Geci Group S.A. to market, sell, service, and support Beam's products in Spain, Portugal, and the Spanish-speaking Caribbean. This strategic move marks the beginning of Beam's expansion into international markets, particularly Europe, which is the largest market for their products.
Geci Group, a prominent manufacturer and integrator of transportation infrastructure, has experience in selling complex systems in transportation and energy sectors. The partnership aims to leverage Geci's existing relationships with potential customers in target markets.
This agreement is part of Beam's strategy to add outsourced distributors and agents to complement their internal sales team. The move comes as both Spain and Portugal show significant growth in electric vehicle adoption and charging infrastructure development, with market projections indicating substantial expansion in the coming years.
Beam Global (Nasdaq: BEEM) ha firmato il suo primo accordo di distribuzione in Europa con Geci Group S.A. per commercializzare, vendere, assistere e supportare i prodotti di Beam in Spagna, Portogallo e nei Caraibi di lingua spagnola. Questa mossa strategica segna l'inizio dell'espansione di Beam nei mercati internazionali, in particolare in Europa, che rappresenta il mercato più grande per i loro prodotti.
Geci Group, un importante produttore e integratore di infrastrutture per i trasporti, ha esperienza nella vendita di sistemi complessi nei settori dei trasporti e dell'energia. La partnership mira a sfruttare le relazioni esistenti di Geci con potenziali clienti nei mercati target.
Questo accordo fa parte della strategia di Beam di aggiungere distributori e agenti esterni per completare il proprio team di vendita interno. Questa mossa arriva mentre sia la Spagna che il Portogallo mostrano una crescita significativa nell'adozione dei veicoli elettrici e nello sviluppo delle infrastrutture di ricarica, con proiezioni di mercato che indicano un'espansione sostanziale nei prossimi anni.
Beam Global (Nasdaq: BEEM) ha firmado su primer acuerdo de distribución en Europa con Geci Group S.A. para comercializar, vender, prestar servicio y apoyar los productos de Beam en España, Portugal y el Caribe de habla hispana. Este movimiento estratégico marca el inicio de la expansión de Beam en mercados internacionales, especialmente en Europa, que es el mercado más grande para sus productos.
Geci Group, un importante fabricante e integrador de infraestructura de transporte, tiene experiencia en la venta de sistemas complejos en los sectores del transporte y la energía. La asociación tiene como objetivo aprovechar las relaciones existentes de Geci con clientes potenciales en los mercados objetivo.
Este acuerdo es parte de la estrategia de Beam para agregar distribuidores y agentes externos que complementen su equipo de ventas interno. Este movimiento llega en un momento en que tanto España como Portugal muestran un crecimiento significativo en la adopción de vehículos eléctricos y en el desarrollo de infraestructuras de carga, con proyecciones de mercado que indican una expansión considerable en los próximos años.
Beam Global (Nasdaq: BEEM)는 Geci Group S.A.와 유럽 최초의 유통 계약을 체결하여 스페인, 포르투갈 및 스페인어를 사용하는 카리브해에서 Beam의 제품을 마케팅, 판매, 서비스 및 지원합니다. 이 전략적 조치는 Beam의 국제 시장, 특히 가장 큰 시장인 유럽으로의 확장을 시작하는 것을 의미합니다.
Geci Group은 교통 인프라의 저명한 제조업체이자 통합업체로, 교통 및 에너지 분야에서 복잡한 시스템을 판매한 경험이 있습니다. 이 파트너십은 Geci의 타겟 시장에서 잠재 고객과의 기존 관계를 활용하는 것을 목표로 합니다.
이 계약은 Beam이 내부 영업 팀을 보완하기 위해 외부 유통업체와 대리인을 추가하는 전략의 일환입니다. 이 조치는 스페인과 포르투갈 모두 전기차 채택 및 충전 인프라 개발에서 상당한 성장을 보이는 가운데 이루어지며, 시장 예측은 향후 몇 년 동안 상당한 확장을 나타냅니다.
Beam Global (Nasdaq: BEEM) a signé son premier accord de distribution européen avec Geci Group S.A. pour commercialiser, vendre, assurer le service et soutenir les produits de Beam en Espagne, au Portugal et dans les Caraïbes hispanophones. Ce mouvement stratégique marque le début de l'expansion de Beam sur les marchés internationaux, en particulier en Europe, qui est le plus grand marché pour leurs produits.
Geci Group, un important fabricant et intégrateur d'infrastructures de transport, a de l'expérience dans la vente de systèmes complexes dans les secteurs des transports et de l'énergie. Le partenariat vise à tirer parti des relations existantes de Geci avec des clients potentiels sur les marchés cibles.
Ce contrat fait partie de la stratégie de Beam d'ajouter des distributeurs et agents externes pour compléter son équipe de vente interne. Ce mouvement intervient alors que l'Espagne et le Portugal montrent une croissance significative dans l'adoption des véhicules électriques et le développement des infrastructures de recharge, avec des projections de marché indiquant une expansion importante dans les années à venir.
Beam Global (Nasdaq: BEEM) hat seinen ersten europäischen Vertriebsvertrag mit Geci Group S.A. unterzeichnet, um Beam-Produkte in Spanien, Portugal und der spanischsprachigen Karibik zu vermarkten, zu verkaufen, zu warten und zu unterstützen. Dieser strategische Schritt markiert den Beginn von Beams Expansion in internationale Märkte, insbesondere Europa, das der größte Markt für ihre Produkte ist.
Geci Group, ein bedeutender Hersteller und Integrator von Verkehrsinfrastruktur, hat Erfahrung im Vertrieb komplexer Systeme in den Bereichen Verkehr und Energie. Die Partnerschaft zielt darauf ab, die bestehenden Beziehungen von Geci zu potenziellen Kunden in den Zielmärkten zu nutzen.
Dieser Vertrag ist Teil von Beams Strategie, externe Händler und Agenten hinzuzufügen, um das interne Vertriebsteam zu ergänzen. Dieser Schritt erfolgt in einem Kontext, in dem sowohl Spanien als auch Portugal ein signifikantes Wachstum bei der Einführung von Elektrofahrzeugen und der Entwicklung von Ladeinfrastrukturen zeigen, wobei die Marktentwicklungen auf eine beträchtliche Expansion in den kommenden Jahren hinweisen.
- First distribution agreement for European market, expanding sales resources internationally
- Partnership with Geci Group provides access to established customer base in target markets
- Expansion into Spain and Portugal, markets with high EV adoption rates and growing charging infrastructure needs
- Diversification of sales channels through integration of outsourced distributors and agents
- None.
Insights
Beam Global's expansion into Europe through this distribution agreement with Geci Group is a strategic move with significant potential. The European EV market, particularly in Spain and Portugal, shows robust growth, with EV sales representing
This partnership allows Beam to tap into Geci Group's established relationships in key sectors like transportation, energy and military. However, Beam will face stiff competition from entrenched players like Iberdrola and Endesa in Spain. The success of this venture will largely depend on how well Beam's products differentiate themselves in terms of rapid deployment, scalability and total cost of ownership.
While the distribution agreement marks Beam Global's entry into the lucrative European market, its financial impact remains uncertain. The company's shift from an internal sales model to incorporating external distributors could potentially accelerate revenue growth and improve cost efficiency. However, this strategy also introduces new variables such as revenue sharing and potential channel conflicts.
Investors should monitor key metrics in upcoming quarters, including:
- Revenue growth rate in European markets
- Changes in gross and operating margins
- Customer acquisition costs
Beam Global's expansion into Europe with its innovative EV charging and energy security solutions comes at a critical juncture in the continent's clean energy transition. Their focus on rapid deployment and scalability addresses key pain points in EV infrastructure rollout. The company's diverse product portfolio, which likely includes their signature solar-powered EV ARC™ charging stations, could provide a competitive edge in markets struggling with grid capacity issues.
However, the success of Beam's technology in the European market will depend on its adaptability to local regulations, grid standards and climate conditions. The company's ability to integrate with existing charging networks and smart city initiatives will be crucial. As the EV market matures, we may see increased demand for Beam's off-grid solutions, particularly in remote areas or during grid outages.
Geci Group will sell Beam Global Products in Spain, Portugal and the Spanish Speaking Caribbean
SAN DIEGO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, has signed the first distribution agreement for the European market. Geci Group S.A., a dominant manufacturer, supplier and integrator of transportation infrastructure, will market, sell, service and support Beam Global products in Spain, Portugal and the Spanish speaking Caribbean.
“This first distribution agreement is just the beginning of our strategic expansion of sales resources into international markets, especially Europe - the largest in the world for our products. I’m very enthusiastic about this new initiative of having quality organizations, who are well positioned within our target markets, multiplying our internal sales team’s efforts,” said Desmond Wheatley, CEO of Beam Global. “Geci Group is a perfect example of the sort of organizations that we are currently integrating into our model. They have an excellent track record of selling and maintaining complex systems within the transportation and energy sectors, including EVs, ports, aviation and EVTOLs and the military, and they also have deep relationships with the sorts of customer prospects who buy our products.”
“We have been following Beam Global for several years and have been testing the markets in Spain, Portugal and the Caribbean to assess the opportunity for their patented products. Rapid deployment, scalability, reliability, and low total cost of ownership are extremely important attributes for EV charging and energy security infrastructure. Beam provides a broad set of solutions for these challenges, and we are looking forward to delivering these benefits to our existing and prospective customers,” said Armando Salvador, Vice President and General Manager of Geci Group. “During our due diligence we visited Beam’s factories in the United States and Serbia and observed the products operating in the field. We are confident that Beam’s capabilities will play an important role in the electrification of transportation and delivery of clean and secure supplies of electricity in the markets we cover. We look forward to growing together, targeting these very large opportunities.”
Beam Global has, until now, made sales through an internal sales team. As part of the Company’s expansion plans in Europe and the Americas it is adding additional routes to market through the integration of outsourced distributors and agents who are not directly employed by Beam Global. Geci Group is the first such entity under contract and the Company is in the process of qualifying others.
Market overview (SPAIN)
- 200,000 Electric Vehicles on the road
- Electric vehicles sales represented about
10% of the total vehicle sales in 2023, with a steady annual growth rate of30% - The Electric vehicle charging market was valued at
$168 million in 2023 and is predicted to reach$1.2 billion by 2030, with a CAGR of28.3% from 2023 to 2030 - Key players include Iberdrola, Endesa, and Repsol, alongside several international companies like Tesla and Ionity
Market overview (PORTUGAL)
- 80,000 electric vehicles on the road
- Electric vehicle sales represent about
15% of total vehicle sales, with an annual growth rate of about35% - The electric vehicle charging market was valued at
$60 million in 2023 and the projected market growth is a CAGR of30% over the next ten years.
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 symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly Twitter).
About GECI Group
GECI Group is a global think-tank, technology and engineering solutions provider focused on the transportation, energy and infrastructure sectors in civil and military services. The company is Spanish based since 1983 and has evolved over the years through a significant expansion widening our field of services and presence across the entire world. With 40 years of experience, GECI works as a key contractor for several long-term strategic partners. GECI’s engineering expertise spans projects in civil works, telecommunications, transport, electric and electronics sectors. The corporation also has deep strength in logistics activity with scheduled deliveries and limited life material supply.
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 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.
Media Contact:
Skyya PR
+1 651-335-0585
Press@BeamForAll.com
Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com
FAQ
What is the significance of Beam Global's first European distribution agreement?
How does the partnership with Geci Group benefit Beam Global (BEEM)?
What are the market projections for electric vehicle charging in Spain and Portugal?
How is Beam Global (BEEM) planning to expand its sales resources?
