Beam Global Receives Energy Storage Solution Order for Transport Refrigeration Units
Rhea-AI Summary
Beam Global (Nasdaq: BEEM) has secured an order for its Beam AllCell™ energy storage solutions to be used in solar-powered Transport Refrigeration Units (TRUs).
The global Refrigerated Trailer market was valued at USD 4.2 billion in 2023 and is expected to grow to USD 6.3 billion by 2030. Government initiatives and increasing consumer awareness are driving growth in clean technology solutions, particularly in North America and Europe.
California's Clean Off-Road Equipment Voucher Incentive Project (CORE) is encouraging the adoption of zero-emission freight equipment, including TRUs, through economic incentives. Beam Global aims to leverage its patented PCC™ technology to enhance safety and performance, bolstering its revenue growth through the increasing electrification of transportation.
Positive
- Beam Global has secured an order for Beam AllCell™ energy storage solutions.
- The global Refrigerated Trailer market is projected to grow from USD 4.2 billion in 2023 to USD 6.3 billion by 2030.
- Government initiatives and consumer awareness are driving demand for clean technology solutions.
Negative
- None.
News Market Reaction
On the day this news was published, BEEM declined 3.03%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, July 11, 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 its Beam AllCell™ energy storage solutions have been selected by a leading provider of solar powered Transport Refrigeration Units (TRUs).
The global Refrigerated Trailer market size was valued at USD 4.2 billion in 2023 and is forecast to grow to USD 6.3 billion by 2030, with North America and Europe experiencing steady growth in clean technology solutions for the industry driven by government initiatives and increasing consumer awareness.
The California Air Resources Board (CARB) in partnership with CALSTART has launched the Clean Off-Road Equipment Voucher Incentive Project (CORE) to encourage California companies to purchase or lease currently commercialized zero-emission freight equipment by providing a streamlined voucher process to offset the higher cost of such technologies. Transport Refrigeration Units are eligible for CORE funding which, when combined with diesel savings, create significant economic incentives for owners and operators.
“This order is another example of the diverse opportunities for growth afforded to Beam Global by our expansion into the energy storage space,” said Beam Global CEO Desmond Wheatley. “Beam AllCell energy storage solutions are the ideal choice for the superior performance that our customers demand and we intend to continue to uncover new opportunities to grow our revenues through the increasing electrification of all aspects of transportation.”
Beam AllCell™ energy storage solutions use patented PCC™ technology that enables more power in a smaller, lighter battery. The advanced thermal management capabilities of PCC™ technology also mitigate thermal runaway propagation, delivering superior safety and the ability to operate efficiently in hot and cold environments.
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 symbols 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 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.
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FAQ
What recent order did Beam Global (BEEM) secure?
What is the projected growth of the global Refrigerated Trailer market?
How is government initiative impacting the Refrigerated Trailer market?
What technology does Beam AllCell™ energy storage solutions use?
