Beam Global Warrant - BEEMW STOCK NEWS

Beam Global has successfully completed an initial deployment for a well-known global automotive company of their first order of EV ARC™ solar-powered off-grid EV charging systems.

Beam Global's EV ARC™ systems in Florida, Georgia, and the Carolinas were unaffected by Hurricane Idalia, providing vital EV charging and emergency power during the storm. The company's customers, including the U.S. Army and Department of Homeland Security, were able to continue charging their EVs and accessing emergency power panels integrated into the EV ARC™ product. The storm caused prolonged grid outages, but Beam Global's off-grid EV charging infrastructure products proved resilient. Large, sustained grid outages in the U.S. have been increasing, with over 180 major disruptions in 2020 compared to fewer than two dozen in 2000. Beam Global's products offer a sustainable and scalable solution for EV charging during extreme weather events.

Beam Global (BEEM, BEEMW) reported a 379% year-over-year revenue growth in Q2 2023 and a 312% increase in the first half of 2023. The company also announced a 589% growth in EV ARC™ deployments and a letter of intent to enter the European market through the acquisition of Amiga DOO. With $23.7 million in cash, $37.1 million in working capital, and no debt, Beam Global is poised for expansion. However, the net loss was $3.5 million in Q2 2023, and $7.4 million for the first half of 2023.

Beam Global, the leading provider of sustainable products for EV charging, will report Q2 2023 results on August 14. Conference call details provided.

Beam Global (BEEM, BEEMW) announced that the City of Los Angeles Department of Recreation and Parks placed a third order for solar-powered EV ARC™ charging systems, their largest order thus far. The off-grid systems will be used to fuel the City’s growing fleet of electric vehicles. The systems were purchased through the California Department of General Services (DGS) Contract #1-22-61-16, which serves to simplify the government procurement process and make select solutions available statewide at the best negotiated pricing. The City of LA’s EV ARC™ charging systems each fit in a standard parking space and are equipped with two Enel X Way JuiceBox® Pro EV charging stations. Each EV ARC™ system generates and stores its own clean electricity and delivers that electricity to power the City’s EVs day or night, and during inclement weather and power outages. Flood proof to 9.5 feet and wind-rated to 160 mph, the product improves the City’s energy resiliency and disaster preparedness. The charging systems are transportable and can be relocated as charging patterns emerge and change.

Beam Global plans to acquire Amiga DOO Kraljevo to expand into the European market and increase production. The acquisition is expected to diversify revenues and enhance manufacturing capabilities. Beam Global also announces a public offering of shares. Q2 revenue is projected to be the highest in the company's history.