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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 (Nasdaq: BEEM, BEEMW), a leader in sustainable infrastructure for transportation electrification and energy security, announced its participation in the 13th Annual Needham Virtual Industrial Tech, Robotics & Clean Tech 1x1 Conference. The event, scheduled for August 19-20, 2024, will be held virtually.
CEO Desmond Wheatley will be available for investor meetings on August 19, 2024. The conference offers one-on-one and small group access to companies in various sectors, including laser and photonics, industrial printing, 3D metrology, robotics, industrial automation, electronic components, and clean-tech technologies.
Interested parties can schedule meetings with Mr. Wheatley through their Needham Sales Representative.
Beam Global (Nasdaq: BEEM) reported record Q2 2024 results with revenue increasing 2% to $14.8 million over Q1 2024. The company achieved a record gross margin of 16%, up 6 percentage points from Q1. 31% of revenue came from commercial customers. Beam Global has a backlog of $11 million and a record pipeline of over $183 million. The company used $0.1 million in operating activities for the six months ended Q2 2024 and remains debt-free with a $100 million unused line of credit. Q2 purchase orders were up 129% year-over-year, with over half of U.S. orders from new customers. Beam Global signed its first European distributor and saw a 66% year-over-year increase in U.S. commercial business orders.
Beam Global (Nasdaq: BEEM) has successfully deployed its first EV ARC™ solar-powered EV charging systems for the UK Ministry of Defence (MOD) at British Sovereign Bases in Cyprus. This marks the initial customer shipment from Beam's new European facilities, part of a $1 million order through Crown Commercial Service. The EV ARC™ systems will provide dynamic EV charging and auxiliary power for vital MOD electrical equipment.
The deployment aligns with the UK MOD's plan to fully electrify its 'white fleet' by 2027. Each EV ARC™ system can power up to six Level II EV chargers simultaneously and includes an auxiliary power panel for additional equipment. Beam Global's CEO, Desmond Wheatley, highlighted this deployment as validation of the company's entrance into the European market, the largest for their products globally.
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), a leader in sustainable infrastructure for transportation electrification and energy security, has announced its Q2 2024 earnings release and conference call schedule. The company will report Q2 2024 operating results on Tuesday, August 13, 2024, after market close. A conference call will follow at 4:30 p.m. ET / 1:30 p.m. PT on the same day, featuring management's formal remarks, financial results review, corporate development updates, and a Q&A session.
Interested parties can join the call via toll-free (1-844-739-3880) or international (1-412-317-5716) dial-in numbers. Pre-registration is available through a provided link. Callers are advised to dial in about 10 minutes before the start time. A webcast archive will be accessible for one year following the call.
Beam Global (Nasdaq: BEEM) has secured an order for its Beam AllCell™ energy storage solutions to be used in solar-powered Transport Refrigeration Units (TRUs).
The global Refrigerated Trailer market was valued at USD 4.2 billion in 2023 and is expected to grow to USD 6.3 billion by 2030. Government initiatives and increasing consumer awareness are driving growth in clean technology solutions, particularly in North America and Europe.
California's Clean Off-Road Equipment Voucher Incentive Project (CORE) is encouraging the adoption of zero-emission freight equipment, including TRUs, through economic incentives. Beam Global aims to leverage its patented PCC™ technology to enhance safety and performance, bolstering its revenue growth through the increasing electrification of transportation.
Beam Global (Nasdaq: BEEM) has announced record-breaking Q2 purchase orders of $10.6 million, marking a 128% year-over-year increase. The substantial growth is driven by new and repeat government contracts across multiple U.S. states and a 66% rise in U.S. commercial orders. Additionally, Beam Global shipped its first EV ARC™ systems to Europe for the UK Ministry of Defence, marking a significant expansion into the European market.
Key accomplishments in Q2 include deliveries across numerous U.S. states, new customer wins, and a record production of ARC Mobility™ trailers. The company remains debt-free, maintains sufficient cash reserves, and has an untapped $100 million credit line. Future plans include the launch of new EV charging infrastructure products and expansion into international markets.
Beam Global (NASDAQ: BEEM) announced that the City of Vacaville, California, has deployed three of its EV ARC™ solar-powered EV charging systems for public use. These units were purchased through the California Department of General Services contract, which simplifies the procurement process. This deployment aligns with Vacaville's commitment to sustainability and aims to reduce greenhouse gas emissions. The EV ARC™ systems, which do not require electrical work or utility bills, are off-grid and powered by 100% renewable energy. They can generate and store electricity, providing a reliable power source even during inclement weather and outages. Mayor John Carli emphasized this initiative as a commitment to environmental stewardship. Beam Global CEO Desmond Wheatley highlighted the significance of this public deployment, anticipating a rise in public EV charging needs as California aims for 1.2 million chargers by 2030.
Beam Global announced record-breaking first quarter 2024 results, with revenues reaching $14.6 million, a 12% increase from Q1 2023. Gross profit hit $1.5 million, supported by a 10.2% gross margin. The company secured significant new orders, including $7.4 million from the U.S. Army and $4.8 million from the Department of Homeland Security. Beam Europe contributed to revenue growth following the Amiga acquisition. Despite a net loss of $3.0 million, this marks an improvement from a $3.8 million loss in Q1 2023. The company has a strong pipeline worth over $160 million and remains debt-free with a $100 million credit line available.
Beam Global (Nasdaq: BEEM), a leader in sustainable infrastructure solutions, will release its Q1 2024 operating results on May 20, 2024, post-market close. A conference call is scheduled for May 21, 2024, at 4:30 p.m. ET to discuss these results and provide corporate updates. The call will include a Q&A session. Participants should pre-register via the provided link and dial in 10 minutes before the start time. A webcast archive will be available for one year after the call.
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