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About Beam Global (Nasdaq: BEEMW)
Beam Global is a pioneering clean technology company headquartered in San Diego, California, specializing in the development and manufacturing of sustainable infrastructure solutions at the intersection of clean energy and transportation. The company’s core offerings include off-grid, solar-powered electric vehicle (EV) charging systems, energy storage solutions, and energy security technologies. Beam Global’s products are designed to address critical challenges in the electrification of transportation, renewable energy adoption, and disaster preparedness.
Core Products and Technologies
Beam Global’s flagship products, the EV ARC™ and Solar Tree® systems, are patented solar-powered EV charging solutions that operate independently of the electrical grid. These systems generate and store clean electricity, enabling EV charging in locations without utility connections. Key features include:
- Off-Grid Operation: Eliminates the need for costly electrical work, construction, and utility bills.
- Rapid Deployment: Systems can be installed in hours, fitting seamlessly into standard parking spaces.
- Energy Resiliency: Provides reliable power during blackouts and natural disasters, with optional Emergency Power Panels for critical electricity needs.
- Patented Innovations: Technologies such as EnvisionTrak™ solar tracking and wireless charging capabilities enhance efficiency and user experience.
These systems are particularly well-suited for government fleets, commercial organizations, and public charging applications, offering scalable and sustainable solutions for the growing EV market.
Market Position and Expansion
Operating at the nexus of clean energy and transportation, Beam Global is strategically positioned to capitalize on global trends toward electrification and renewable energy adoption. The company has expanded its operations to include facilities in the U.S. (San Diego and Chicago) and Europe (Belgrade and Kraljevo). Its recent acquisition of Amiga and the creation of Beam Europe underscore its commitment to international growth, particularly in the European market, which is the largest for EVs globally.
Beam Global’s inclusion in government procurement programs, such as the UK’s Crown Commercial Service and the U.S. federal GSA schedule, highlights its credibility and competitiveness in the public sector. The company’s products have been deployed by entities ranging from municipal governments to military organizations, demonstrating their versatility and reliability.
Competitive Advantages
Beam Global differentiates itself through its innovative approach to EV charging infrastructure. Unlike traditional grid-tied solutions, its off-grid systems offer:
- Cost Savings: Avoids expenses related to construction, electrical upgrades, and ongoing utility bills.
- Resilience: Continues to operate during power outages and in remote locations.
- Sustainability: Powered entirely by renewable energy, reducing carbon footprints.
These features make Beam Global’s products particularly attractive in regions prone to natural disasters or with limited grid connectivity.
Opportunities and Challenges
As governments and organizations worldwide commit to net-zero emissions and the electrification of transportation, Beam Global is well-positioned to benefit from increased demand for EV charging infrastructure. However, challenges include competition from grid-tied solutions, the capital-intensive nature of scaling production, and the need to continually innovate to maintain its competitive edge.
Conclusion
Beam Global represents a compelling player in the clean technology sector, offering innovative solutions that address critical challenges in energy resiliency, sustainability, and transportation electrification. With a robust patent portfolio, a growing international presence, and a focus on scalable, off-grid technologies, the company is poised to play a significant role in the transition to a more sustainable future.
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.
Beam Global announced the deployment of four EV ARC™ solar-powered EV charging systems by the City of San José, California, aimed at enhancing the city's fleet of electric vehicles. The systems, procured via the California Department of General Services, generate and store clean electricity, ensuring power availability during adverse conditions. One system will be showcased at the Fleet Forward Conference from November 10-12. Beam Global emphasizes the cost-effectiveness and sustainability of its solutions while aligning with California’s environmental goals.
Beam Global, a leader in sustainable technology for electric vehicle (EV) charging, will release its Fiscal Q3 2021 financial results on November 11, 2021, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results and corporate developments, followed by a Q&A session. Investors can pre-register for the call via the provided link. Beam Global specializes in patented EV charging solutions and energy security technology, emphasizing its commitment to innovation and sustainability in the EV sector. The company is listed on Nasdaq under symbols BEEM and BEEMW.
Beam Global (Nasdaq: BEEM, BEEMW) announced the deployment of its EV ARC™ solar-powered EV charging system by the Leon County Sheriff’s Office in Florida. This installation, part of a statewide contract with the Florida Sheriff's Association, allows EV charging without utility connections, promoting energy resilience. The system can be easily deployed and moved, providing long-term savings and supporting sustainability initiatives. The contract extends through September 30, 2023, highlighting Beam’s leadership in sustainable EV infrastructure.
Beam Global has been added to the California Electric Vehicle Infrastructure Project (CALeVIP), enhancing its presence in the EV charging market. This program, funded by the California Energy Commission, aims to improve EV charging infrastructure across the state. Four Beam products have been included on the CALeVIP Eligible Equipment List, enabling easier access to off-grid charging solutions. With $149 million funding available, the CALeVIP program underscores Beam Global's role in addressing regional EV infrastructure needs and supports California's climate goals.
Beam Global has announced the purchase of fifteen EV ARC™ solar-powered EV charging systems by the California DMV for public use. This purchase, made through the California DGS Contract, aims to enhance accessibility for EV owners while conducting DMV business. Each system generates clean electricity to power two Enel X JuiceBox® Pro stations and includes a panel for emergency use during blackouts. The initiative aligns with California's goal to deploy 1.2 million EV chargers by 2030.
Governor Gavin Newsom's recent climate bill allocates $4 billion for EV infrastructure, further supporting Beam Global's sustainable technologies.
Beam Global (Nasdaq: BEEM, BEEMW) reports a record backlog of over $7M in purchase orders for its EV ARC™ and other products. This backlog indicates unprecedented near-term revenue potential, surpassing any prior full year. The company’s sales pipeline grew from $50M to over $75M in Q3, reflecting increased government and corporate demand for EV infrastructure. CEO Desmond Wheatley highlights the company's zero debt and strong cash position, further enhancing growth prospects amid rising EV adoption and government initiatives aimed at boosting electric vehicle fleets.
Beam Global, a leader in sustainable technology for electric vehicle (EV) charging, will present at the 14th annual LD Micro Main Event on October 12, 2021, at 3:00 PM ET in Los Angeles. CEO Desmond Wheatley will lead the presentation, celebrating a return to in-person events after nearly two years. The event features around 150 companies over three days, showcasing innovative technology and investment opportunities. Beam Global is listed on Nasdaq under BEEM and BEEMW and specializes in off-grid solutions for EV charging.
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