Beam Global Awarded Sourcewell Cooperative Contract

Rhea-AI Summary

Beam Global (Nasdaq: BEEM) announced on November 12, 2025 that it was awarded a cooperative purchasing contract by Sourcewell in the Electric Vehicle Supply Equipment with Related Services category. The contract lets U.S. military, state and local government agencies, and higher education institutions across North America procure Beam Global products via a Sourcewell‑vetted, ready‑to‑use contract.

Sourcewell represents purchasing power for over 50,000 participating public agencies. Beam said the award will streamline public procurement and support expanded deployments of its EV charging and energy storage solutions.

Insights

Public-sector procurement analyst

Beam Global gained broad public‑sector purchasing access via a Sourcewell cooperative contract awarded on Nov. 12, 2025.

The Sourcewell award places Beam Global on a ready‑to‑use contract vehicle that covers the Electric Vehicle Supply Equipment with Related Services category and reaches over 50,000 participating public agencies. This contract codifies a procurement pathway that removes many local RFP steps and lets eligible U.S. military, state, local, and higher‑education buyers buy from Beam through Sourcewell’s negotiated terms. The firm already holds other public vehicles, including state contracts and a GSA Multiple Award Schedule, which the release cites as prior channels for deployments.

Dependencies and risks include actual contract utilization by agencies and the pace at which public buyers elect to use Sourcewell instead of other procurement routes. The award itself does not disclose order volumes, pricing, or term length, so measurable impact depends on subsequent agency orders and implementation timelines. Concrete items to watch are (1) the first few Sourcewell purchase orders and their sizes, (2) publicly filed contract utilization updates or agency announcements referencing Beam, and (3) any timeframe or volume information the company provides about expected deployments; these indicators should appear over the next quarters as agencies move from contract availability to executed purchases.

Expanding Opportunities in Government Procurement

SAN DIEGO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation, energy security, and smart city infrastructure, today announced that it has been awarded a cooperative purchasing contract by Sourcewell, in the Electric Vehicle Supply Equipment with Related Services category. This allows Beam Global to expand its offerings to U.S. Military, state and local government agencies, and higher education institutions across North America.

Sourcewell combines the purchasing power of over 50,000 participating public agencies, offering hundreds of awarded supplier contracts across a wide range of industries. Beam Global secured the Sourcewell contract following a rigorous request for proposal (RFP) process that ensures compliance with local procurement requirements and recognizes exceptional value and service. The partnership enables public sector and educational organizations to procure Beam Global’s sustainable infrastructure and energy storage solutions through a ready-to-use, negotiated, Sourcewell-vetted contract, streamlining the public purchasing process.

“This Sourcewell contract is like an easy button for state and local governments who want to purchase our products without having to go through time consuming and lengthy procurement processes,” said Desmond Wheatley, CEO of Beam Global. “Our products provide customers with the easiest and fastest way to get secure, sustainable electricity and EV charging. This contract provides our prospects with the easiest way to become our customers. We are proud to have been awarded this contract and look forward to continuing to grow our customer base and revenues as a result.”

“Sourcewell is excited to have awarded a contract to Beam Global through our RFP for the Electric Vehicle Supply Equipment category,” said Mike Domin, Associate Director of Cooperative Contracts at Sourcewell. “This gives agencies the ability to continue to purchase Beam Global’s innovative EV charging and energy infrastructure to meet their goals.”

This contract serves a profile of customer with whom Beam Global has had success in the past through multiple state contracts and its GSA Multiple Award Schedule (MAS) contract, which have facilitated federal, state, and local government deployments across the United States and its territories. For more information, including how an agency can use Beam Global’s contract, visit BeamGlobal-Sourcewell-mn-gov.

About Sourcewell
Sourcewell, a self-funded governmental organization established in 1978, facilitates a cooperative purchasing program that harnesses the collective purchasing power of more than 50,000 participating agencies. By streamlining procurement with pre-negotiated, competitive contracts, Sourcewell enables government, educational, and nonprofit organizations to secure cost-effective and efficient purchasing solutions. For more information visit, Sourcewell-mn.gov.

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, energy security and smart city Infrastructure. With operations in the U.S., Europe and the Middle East, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, enable Smart City services, save time and money, and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL, Belgrade and Kraljevo, Serbia and Abu Dhabi, UAE. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit, BeamForAll.com, LinkedIn, YouTube, Instagram and X.

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.

Investor Relations
Luke Higgins
+1 858-261-7646
IR@BeamForAll.com

Media Contact
Lisa Potok
+1 858-327-9123
Press@BeamForAll.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/785f466b-745d-4f4e-b94c-d0e31403e30c

FAQ

What does the Sourcewell contract mean for Beam Global (BEEM) shareholders?

The Sourcewell contract allows public agencies to buy Beam Global products through a negotiated cooperative purchasing vehicle, potentially easing sales to government and education customers.

Which customers can use Beam Global's Sourcewell contract awarded November 12, 2025?

U.S. military, state and local government agencies, and higher education institutions across North America can procure under the Sourcewell contract.

How many public agencies does Sourcewell represent for Beam Global (BEEM)?

Sourcewell combines the purchasing power of over 50,000 participating public agencies.

Will the Sourcewell contract speed up Beam Global (BEEM) government sales processes?

Yes. The contract is described as a ready‑to‑use, Sourcewell‑vetted agreement that streamlines procurement and removes the need for separate lengthy RFPs.

Where can a government agency find details to use Beam Global's Sourcewell contract?

The announcement directs agencies to the Beam Global Sourcewell web resource listed as BeamGlobal-Sourcewell-mn-gov for contract details and ordering instructions.