Beam Global Receives First Order for BeamSpot™ Curbside EV Chargers from Fortune 500 Utility Company

SAN DIEGO, Oct. 29, 2024 (GLOBE NEWSWIRE) — Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced that it has received the first order for its BeamSpot™ curbside chargers from a Fortune 500 company in the utility and energy solutions sector. Multiple corporate offices will each install three BeamSpot™ systems for EV charging and street lighting. This announcement comes shortly after last month’s launch of the product, which is part of Beam Global’s line up of renewably energized, grid independent, electric vehicle (EV) charging solutions. The patented BeamSpot™ sustainable curbside charging system is a streetlight replacement that combines solar, wind and utility-generated electricity stored in Beam Global’s proprietary integrated batteries, to provide resiliency, lighting and curbside EV charging.

“This first order demonstrates the marketability of the BeamSpot product,” said Desmond Wheatley, CEO of Beam Global. “This product solves one of the toughest challenges facing the industry today – the need for ubiquitous, sustainable charging at the curb that can be deployed quickly and without major easements, construction or electrical work. We are excited to deliver these initial units to a long-term customer of Beam Global and are confident that our technology will provide significant value, making it an easy choice for them to place additional orders.”

The BeamSpot™ curbside EV charging system integrates with existing streetlight electrical infrastructure and combines solar, wind and utility-generated electricity for EV charging. This off-grid-capable system, designed to operate without complex construction or utility upgrades, targets high-demand urban areas such as city centers, residential neighborhoods, parking lots, multi-unit housing and public venues. BeamSpot™ chargers aim to address the challenges of deploying EV infrastructure in dense areas, offering a scalable solution that reduces installation costs and increases resiliency. While there are existing streetlight EV charging solutions on the market, those rely entirely on the streetlight’s electrical circuit which is typically only equipped with enough capacity to power a light. The BeamSpot™ solution combines three sources of electricity in its on-board batteries allowing for a higher capacity EV charge which is largely provided by renewable energy, and which will continue to operate during blackouts and other grid failures. The BeamSpot™ product will also continue to light streets during grid failures, providing an essential disaster preparedness asset to the locations where it is deployed.

To learn more about Beam Global’s sustainable charging solutions visit beamforall.com.

About Beam Global
Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Chicago, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly Twitter).

Forward Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow