Welcome to our dedicated page for Beam Global news (Ticker: BEEM), a resource for investors and traders seeking the latest updates and insights on Beam Global stock.
Beam Global (BEEM) is a leader in sustainable infrastructure solutions, specializing in off-grid EV charging systems and renewable energy technologies. This page aggregates official company announcements, providing stakeholders with timely updates on product innovations, strategic partnerships, and operational milestones.
Investors and industry observers will find curated press releases covering EV ARC deployments, Solar Treeline installations, and financial performance updates. Our collection focuses on verified developments in clean transportation infrastructure and energy security solutions without speculative commentary.
Content spans regulatory updates, technology patents, and disaster response initiatives that demonstrate BEEM's unique market position. Bookmark this page for efficient tracking of the company's progress in advancing grid-independent power solutions for commercial and government applications.
Beam Global (Nasdaq: BEEM, BEEMW) reported record financial results for the year ending December 31, 2022, achieving revenues of $22 million, marking a 144% increase year-over-year. The fourth quarter saw revenues of $7.9 million, a 126% rise from the previous year. Key highlights included record annual orders of $76 million (up 548% year-over-year) and substantial growth in orders from both commercial (up 1190%) and government sectors (up 489%). Additionally, the company secured a $100 million credit facility and acquired All Cell Technologies to enhance battery supply and reduce costs.
Beam Global has secured a non-dilutive credit facility with OCI Group to support its rapid growth, particularly following $62 million in recent purchase orders. The credit line, effective immediately, offers flexibility without diluting shareholder equity, priced at SOFR plus 300 basis points. CEO Desmond Wheatley emphasized the disciplined cash management strategy and plans for international expansion, especially into the European market. Beam's revenues grew from $6.2 million in 2020 to $14.1 million in the first nine months of 2022, with about 10 million shares outstanding and no debt.
Beam Global (Nasdaq: BEEM, BEEMW) announced it will report its FY 2022 financial results on March 29, 2023, at 4:30 p.m. ET. The conference call will provide insights into the company's performance and future developments. Beam is recognized for its innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, and outdoor media. The event will include a Q&A session post-presentation, ensuring investor engagement.
Beam Global aims to lead the clean mobility sector with products like the Beam EV ARC™ and Solar Tree® systems, showcasing their commitment to sustainability.
Beam Global, listed on Nasdaq under the symbols BEEM and BEEMW, will participate in the 35th Annual ROTH Conference from March 12-14, 2023, at The Ritz Carlton, Laguna Niguel, CA. CEO Desmond Wheatley is set to engage in one-on-one meetings with investors and analysts. Attendees are encouraged to schedule meetings through a ROTH representative or the conference platform. Beam Global specializes in sustainable technologies for electric vehicle (EV) charging, energy storage, and energy security. Their innovative solutions, including Beam EV ARC™ and Solar Tree®, aim to lead the world to clean mobility.
Beam Global (Nasdaq: BEEM, BEEMW) announced a new order for its energy storage solutions to support an industrial robotics platform. The advanced battery packs utilize Beam's patented PCC™ thermal management technology, enhancing safety and energy density. The customer, a notable player in mobile robotics, plans to integrate these solutions into unmanned ground vehicles with various sensing capabilities. The mobile robotics sector is projected to exceed $25 billion by 2030, growing at a 21.4% CAGR from 2022-2030, driven by advancements in artificial intelligence and connectivity. Beam Global's contributions are positioned to leverage this market growth.
Beam Global (Nasdaq: BEEM) announces that CEO Desmond Wheatley will present at the Tribe Public Webinar on February 28, 2023, titled “Sustainable Products Solving EVs' Biggest Challenges.” The webinar, starting at 8:30 AM Pacific, will allow participants to engage through Q&A. Beam Global is recognized for its innovative solutions in electric vehicle (EV) charging, energy storage, and outdoor media, notably through its technologies like Beam EV ARC™ and Beam AllCell™. The company aims to lead in clean mobility and is committed to producing sustainable products in the USA.
Beam Global (Nasdaq: BEEM, BEEMW) announced an order from the City of Austin for its EV ARC™ solar-powered EV charging and ARC Mobility™ trailer solutions. The purchase, facilitated by the federal GSA Multiple Award Schedule, enables Austin to acquire sustainable charging infrastructure efficiently. These systems are designed for disaster preparedness, ensuring operation during grid outages. Beam's CEO highlighted growing demand from government entities for EV charging solutions that meet disaster recovery needs. The EV ARC™ units can charge up to six vehicles simultaneously and are pre-configured for quick deployment, meeting urgent energy security requirements.
Beam Global (Nasdaq: BEEM, BEEMW) has secured multiple orders for its EV ARC™ off-grid EV charging systems from correctional facilities across the U.S., utilizing a California Department of General Services contract. These systems can be rapidly deployed without construction, addressing security concerns typical of such environments. With 4,527 correctional facilities in the U.S., the company anticipates a surge in demand for EV charging solutions, especially with federal mandates for zero-emission vehicles by 2027. Beam's products are solar-powered and can charge multiple EVs simultaneously, signifying a strategic expansion in the government sector.
Beam Global (Nasdaq: BEEM, BEEMW) announced an order from The Confederated Tribes of Grand Ronde, marking its first Native Nation customer. This order will facilitate electric vehicle (EV) charging for community members and employees in Oregon. The EV ARC™ systems are solar-powered, off-grid solutions that require no construction or electrical work, providing a sustainable and efficient alternative for charging EVs. The installation promises to deliver clean energy, with dual plugs available for simultaneous charging and emergency power options during outages.
Beam Global, listed on Nasdaq under BEEM and BEEMW, has launched the ARC Mobility™ trailer, designed for transporting off-grid EV ARC™ solar-powered charging systems. This innovation allows for rapid relocation of EV charging infrastructure, which is crucial for adapting to changing demand. The trailer, manufactured in San Diego, features a durable design with safety enhancements, making it easier for customers to deploy their charging solutions. Beam reports an increase in both repeat and first-time multi-unit orders, indicating growing interest in their sustainable charging technology.
