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 (NASDAQ: BEEM), headquartered in San Diego, is a sustainable technology innovation company specializing in renewably energized products for electric vehicle (EV) charging, outdoor media, and energy security. The company’s core offerings are built on its patented EV ARC™ and Solar Tree® product lines, which are further enhanced with technologies like BeamTrak™ solar tracking, ARC Technology™ energy storage, and SunCharge™ EV charging stations. These solutions are designed to eliminate the need for grid-tied infrastructure, thereby reducing costs and construction disruptions. Notably, Beam Global has recently been granted Patent No. US 11,912,144 B2 by the U.S. Patent Office for its wireless/inductive EV ARC™, which enables EVs to charge wirelessly without the need to plug in a charging cable.
Beam Global is actively involved in several groundbreaking projects and has achieved significant milestones. The company’s products are not only convenient but also essential in disaster preparedness, as they can provide vital electricity during emergencies. The Federal Government has recognized the value of Beam's solutions, evidenced by the deployment of EV ARC™ systems, which reduce costs through avoided construction and operational disruptions.
The company’s financial condition is robust, with record revenues reported in 2023 and continued growth into 2024. Beam Global recently expanded into Europe through the acquisition of Amiga DOO, marking a significant geographic expansion. This move has already resulted in substantial contract awards, including a major order from the British Army.
Beam Global’s operations are spread across the U.S. and Europe, with facilities in Chicago, Belgrade, and Kraljevo. The company is focused on scaling up its EV charging solutions, energy storage, and vital energy security products. With a strong patent portfolio and ongoing innovations, Beam Global is well-positioned to lead in the clean technology sector.
For more information, visit BeamForAll.com, and follow the company on LinkedIn, YouTube, and X (formerly Twitter).
Beam Global reported a record 317% growth in sales of its EV ARC™ charging systems through California's DGS in 2021. This surge is attributed to increased investments in EV infrastructure at state and federal levels, alongside significant California commitments, including a budget proposal allocating $6.1 billion for electric vehicle initiatives. The company expects continued growth in 2022, driven by rising demand for EV charging solutions as California aims to ban gas-powered vehicle sales by 2035. Beam provides scalable infrastructure solutions for all major EV charger brands.
Beam Global (Nasdaq: BEEM, BEEMW) announced an order from a major national passenger railway for its EV ARC™ solar-powered charging system. This system, designed to charge fleet electric vehicles without needing a utility connection, fits in a standard parking spot and generates its own clean electricity. CEO Desmond Wheatley emphasized the potential for EV ARC systems at transportation hubs, addressing the growing need for EV charging solutions. The technology offers long-term savings by eliminating construction costs and grid dependencies, while supporting sustainability goals in the transport sector.
Beam Global (Nasdaq: BEEM, BEEMW) announced the deployment of its EV ARC™ solar-powered EV charging system by the County of San Luis Obispo, California, to charge its fleet of electric vehicles. This system is designed to generate and store clean electricity without needing a utility connection, providing substantial savings and energy resiliency. The installation aligns with California's goal of 1.2 million public EV chargers by 2030, supported by a recent $4 billion funding initiative. Beam Global’s innovative products aim to enhance EV charging infrastructure while maintaining environmental sustainability.
Beam Global (Nasdaq: BEEM, BEEMW) announced a strong alignment with federal initiatives under Executive Order 14057, emphasizing clean energy and sustainable EV charging infrastructure. This order will enhance federal investment in energy-resilient infrastructure powered by renewable sources. Beam's EV ARC™ systems, which are solar-powered and transportable, align perfectly with the government's goal of 100% carbon pollution-free electricity by 2030. The recent boost in federal GSA orders reflects Beam's growing market opportunities in the EV charging sector, creating jobs and promoting zero-emission transportation.
Beam Global (Nasdaq: BEEM, BEEMW) has launched the first EV ARC™ solar-powered EV charging system at Eastern West Virginia Regional Airport. This installation, funded by the U.S. Department of Energy, facilitates off-grid EV charging for employees, staff, and visitors. The system generates and stores renewable energy and integrates two Enel X JuiceBox® Pro EV chargers, allowing for rapid deployment without construction or utility costs. A ribbon-cutting ceremony was held on December 14, 2021, showcasing Beam’s commitment to expanding EV charging infrastructure across U.S. airports.
Beam Global (Nasdaq: BEEM, BEEMW) has launched its first solar-powered EV ARC™ charging system at James Madison University, funded by the U.S. Department of Energy. This off-grid system supports EV charging for various users, including students and faculty, without incurring utility costs or requiring construction. The project emphasizes sustainability and serves as a research tool for education. The official ribbon-cutting ceremony occurred on December 14, 2021. Beam Global aims to expand its footprint in the EV charging infrastructure market, leveraging government support to drive future orders.
Beam Global has received a third repeat order from a Federally Funded Research and Development Center to expand its fleet of EV ARC™ solar-powered electric vehicle charging systems. This order utilizes the GSA Multiple Award Schedule, streamlining federal procurement and ensuring competitive pricing. The EV ARC™ systems generate clean electricity, are flood-proof and wind-rated, enhancing energy resiliency. With the U.S. federal government poised to electrify its fleet, Beam Global positions itself as a key player in this transition, offering a rapid deployment solution that avoids utility connections.
Beam Global (Nasdaq: BEEM, BEEMW) reports the deployment of additional EV ARC™ solar-powered EV charging systems in New York City, increasing their total to 89 units. These flood-proof and wind-rated units provide resilient charging during extreme weather and grid failures, addressing growing concerns over climate impacts. The deployment aligns with NYC's sustainability goals, including a commitment to 100% electric school buses by 2035. Beam's innovative technology distinguishes it from traditional grid-tied systems, reinforcing its competitive edge in the EV charging market.
Beam Global announced the deployment of its EV ARC™ solar-powered EV charging system at the Occoquan Bay National Wildlife Refuge to power Volvo's electric compact construction machines. This showcase highlighted the capability of zero-emissions equipment in sustainable trail building. The electric excavator and wheel loader, charged by Beam’s systems, represent the first electric heavy equipment available in the U.S. The collaboration demonstrates a commitment to sustainability in public access improvements, aligning technology with environmental goals.
Beam Global (Nasdaq: BEEM, BEEMW) reported a record third quarter revenue of $2,020,612, a 63% increase from the previous year. The company also achieved the highest backlog of $7.1 million in its history and expanded its sales pipeline by 50% to $75 million. Despite these gains, Beam recorded a gross loss of $208,023 and a net loss of $1,688,631, attributed to rising costs and increased operating expenses, which totaled $1,481,306 for the quarter. The company ended September 2021 with $23.1 million in cash, down from $26.7 million at year-end 2020.
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