Beam Global Introduces the New BeamBike™ Solar-Powered Electric Bike Charging Product

Rhea-AI Summary

Beam Global (Nasdaq: BEEM) has introduced the BeamBike™, a new solar-powered electric bike charging product. This innovative solution can charge up to 12 ebikes simultaneously on an off-grid, transportable platform that can be deployed within minutes. The BeamBike™ generates and stores clean electricity, providing charging through twelve 120 V outlets compatible with any ebike charger.

The product addresses the growing need for secure outdoor ebike charging, mitigating risks associated with indoor charging. It's designed for various locations including transit centers, parks, campuses, and workplaces. The global electric bike market is projected to grow from $50.1 billion in 2024 to $148.7 billion by 2032, with a CAGR of 14.6%. Beam Global's BeamBike™ leverages the company's EV ARC™ system platform, allowing for rapid market entry and utilization of existing engineering successes.

Positive

• Introduction of BeamBike™, a new solar-powered ebike charging product
• Capacity to charge up to 12 ebikes simultaneously
• Off-grid and rapidly deployable solution
• Addresses safety concerns of indoor ebike charging
• Leverages existing EV ARC™ platform for quick market entry
• Targets growing global electric bike market projected to reach $148.7 billion by 2032

Negative

• None.

Insights

Tech Expert

The introduction of BeamBike™ by Beam Global represents a significant innovation in the rapidly growing ebike market. This solar-powered charging solution addresses several key challenges:

• Safety concerns related to indoor ebike charging and battery fires
• The need for secure, outdoor charging infrastructure
• Grid independence and emergency preparedness
• Scalability for various environments (cities, campuses, businesses)

With the global ebike market projected to grow at a 14.6% CAGR, reaching $148.7 billion by 2032, BeamBike™ is well-positioned to capture a share of this expanding market. The product leverages Beam Global's existing EV ARC™ technology, potentially accelerating time-to-market and reducing development costs.

For investors, this product launch could signify new revenue streams and market expansion opportunities for Beam Global, particularly in urban areas, corporate campuses and public spaces where ebike adoption is increasing. However, the impact on the company's financials will depend on market acceptance and the speed of deployment.

Market Research Analyst

The BeamBike™ launch aligns with several key market trends:

• Growing demand for sustainable transportation solutions
• Increasing focus on urban mobility and last-mile delivery
• Rising concerns about energy security and grid resilience

Beam Global's strategy to leverage its existing EV ARC platform for this new product demonstrates efficient R&D utilization and potential for faster market penetration. The company's emphasis on customer-driven innovation, as evidenced by the product's development in response to customer requests, suggests strong market alignment.

However, investors should consider potential challenges:

• Competition from traditional ebike charging solutions
• The need for partnerships or direct sales channels to reach diverse end-users
• Potential regulatory hurdles in different markets

The product's success will likely depend on Beam Global's ability to scale production, establish strategic partnerships and effectively market to various sectors including municipal governments, corporate campuses and commercial property managers.

BeamBike™ charges up to 12 ebikes on an off-grid, transportable charging platform that is deployed in minutes

SAN DIEGO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, introduced the new BeamBike™ ebike charging product that is rapidly deployed, solar-powered and can charge up to 12 ebikes at a time. The dedicated ebike charging station provides a vital solution for ebike owners who want a secure location to park, lock and charge their ride, without the risks of charging indoors.

Each BeamBike™ solar-powered charging system generates and stores its own clean electricity which is accessed through twelve integrated, weatherized 120 V outlets which will support any ebike charger. The BeamBike™ charger’s onboard battery storage provides ebike charging and vital 120 V outlets where there is no easily accessible utility connection and during grid outages making it an emergency preparedness and energy resiliency asset as well. The rapidly deployed outdoor ebike charging product will enable cities, campuses, corporations and any other location where users need to charge electric bikes, to provide charging opportunities which do not put buildings or people at risk from battery fires.

“eBike adoption continues to grow in every major market. Asia, the Americas and Europe have seen steady growth across consumer, business and government applications,” said Desmond Wheatley, CEO of Beam Global. “Repeated requests from some of our best customers, and the rare but high-profile tragedies of indoor fires caused by ebikes, inspired us to develop an outdoor ebike charging solution that can be deployed quickly, relocated when needed and operated independently of the grid. A BeamBike charging system can go just about anywhere an ebike can go and it’s based upon our tried and tested EV ARC platform so customers rest assured of its quality and efficacy. We have fourteen years of operational experience with the EV ARC product platform. Creating the BeamBike product from EV ARC is part of our strategy to create valuable solutions for larger and broader customer audiences.”

Ideal for transit centers, parks, shopping malls, campuses, bike rental providers, the workplace, civic centers, mixed use communities, last mile delivery, and public access complexes such as event centers, stadiums and amusement parks, BeamBike™ charging stations make safe, cost-effective ebike charging accessible to the public.

According to Fortune Business Insights, the global electric bike market is projected to grow from US$ 50.1 billion in 2024 to US$ 148.7 billion by 2032, a CAGR of a very healthy 14.6%. The robust adoption curve is driven by advances in ebike technology, the popularity of recreational bicycling and the rising societal preference for ebikes as a cost-efficient and environmentally sound means of transportation.

Beam Global’s EV ARC™ system provides the platform for BeamBike™ enabling the company to bring this new and innovative product to market quickly and efficiently, leveraging existing engineering successes and our broad patent portfolio.

For more information on the sustainable BeamBike™ charging station contact the Beam Team at BeamTeam@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. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam Global has a deep patent portfolio and 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.

Media Contact:
Skyya PR
+1 651-335-0585
Press@BeamForAll.com

Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/641ae238-fbb1-42ff-ac95-b1a09a595750

https://www.globenewswire.com/NewsRoom/AttachmentNg/d16977aa-9147-410f-9caf-1570e792da24

This press release was published by a CLEAR® Verified individual.

FAQ

What is the charging capacity of Beam Global's new BeamBike™ product?

The BeamBike™ can charge up to 12 ebikes simultaneously using twelve integrated, weatherized 120 V outlets that support any ebike charger.

How does the BeamBike™ generate electricity for charging?

The BeamBike™ is a solar-powered charging system that generates and stores its own clean electricity, making it an off-grid solution.

What are the potential applications for Beam Global's BeamBike™ charging stations?

BeamBike™ charging stations are ideal for transit centers, parks, shopping malls, campuses, bike rental providers, workplaces, civic centers, mixed-use communities, last-mile delivery, and public access complexes such as event centers, stadiums, and amusement parks.

What is the projected growth of the global electric bike market according to the Beam Global (BEEM) press release?

According to the press release, the global electric bike market is projected to grow from $50.1 billion in 2024 to $148.7 billion by 2032, with a CAGR of 14.6%.