City of Pueblo, Colorado Deploys Beam Global EV ARC™ Off-Grid Solar EV Charging Systems

Rhea-AI Summary

Beam Global (Nasdaq: BEEM) has announced that the City of Pueblo, Colorado has deployed their EV ARC™ off-grid, solar-powered electric vehicle charging systems. These systems will serve both the general public and city fleets, supporting Pueblo's goal of 100% renewable energy by 2035. The deployment was funded through a U.S. Department of Energy rebate and aligns with Colorado's target of 940,000 EVs on the road by 2030.

The EV ARC™ systems generate and store their own electricity using solar power, featuring the patented BeamTrak™ sun tracking system for increased energy production. Some units will offer free public charging until September 2024, while others will support various city departments' EV fleets. Beam Global's CEO, Desmond Wheatley, highlighted the benefits of their grid-independent, transportable systems for municipalities aiming to meet sustainability goals efficiently.

Positive

• Deployment of EV ARC™ systems in Pueblo, Colorado, expanding Beam Global's market presence
• Systems funded through a U.S. Department of Energy rebate, reducing financial burden on the city
• Alignment with Colorado's goal of 940,000 EVs by 2030, potentially leading to more opportunities in the state
• EV ARC™ systems generate up to 25% more energy than fixed solar arrays due to BeamTrak™ technology
• Grid-independent nature of EV ARC™ systems eliminates construction, electrical work, and utility bills for cities

Negative

• Free public charging initiative in Pueblo only runs through September 2024, potentially limiting long-term revenue

Insights

Sustainability Expert

The deployment of Beam Global's EV ARC™ systems in Pueblo marks a significant step towards sustainable urban infrastructure. These off-grid, solar-powered charging stations offer multiple benefits:

• Energy independence, reducing strain on the local grid
• Cost-effectiveness, with no construction or utility bills
• Flexibility, being easily relocatable as needs change

This aligns perfectly with Pueblo's ambitious goal of 100% renewable energy by 2035. The BeamTrak™ technology's 25% increased energy production over fixed arrays is particularly impressive. This initiative not only supports Colorado's target of 940,000 EVs by 2030 but also sets a replicable model for other municipalities aiming to balance sustainability with practicality in their EV infrastructure planning.

Financial Analyst

This deployment represents a positive development for Beam Global (Nasdaq: BEEM), showcasing the company's ability to secure contracts through government initiatives like the EECBG program. The project's dual focus on public and fleet charging indicates a diversified market approach. While the financial terms aren't disclosed, such municipal contracts often lead to recurring business and referrals.

Investors should note the alignment with broader market trends:

• Growing EV adoption rates
• Increasing government support for green infrastructure
• Rising demand for off-grid, resilient energy solutions

These factors position Beam Global favorably in the rapidly expanding EV charging market. However, the company's growth potential should be weighed against its current financial performance and market competition.

Urban Planning Consultant

Pueblo's implementation of Beam Global's EV ARC™ systems is a shrewd urban planning move. The key advantages from a city planning perspective include:

• Rapid deployment without disruptive construction
• Flexibility to relocate charging points as usage patterns evolve
• Resilience during grid outages or emergencies

The initiative cleverly combines public access with municipal fleet support, maximizing infrastructure utilization. The no-cost public charging trial until September 2024 is an excellent strategy to encourage EV adoption among residents. This approach allows the city to gather valuable data on charging patterns and user behavior, informing future infrastructure decisions. It's a model that other cities could emulate, balancing immediate EV support with long-term adaptability in urban planning.

PUEBLO, Colo., Aug. 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, announced the City of Pueblo, Colorado has deployed Beam Global EV ARC™ off-grid, solar-powered electric vehicle (EV) charging systems for use both by the general public and city fleets. The systems were provided through a rebate from the U.S. Department of Energy Energy Efficiency and Conservation Block Grant (EECBG) program, which is designed to assist states, local governments and Tribes in implementing strategies to reduce energy use and fossil fuel emissions and improve energy efficiency.

Some Beam Global EV ARC™ systems will be available to the general public for free as part of Pueblo’s no-cost charging station initiative, running through September 2024. Others will support the City’s fleet of EVs used by the Pueblo Police Department, Parks and Recreation and the Fleet Department, with more vehicles expected to be received in the coming months.

The deployment of Beam Global EV ARC™ systems supports Pueblo’s commitment to being powered by 100% renewable energy by 2035. The grid-independent EV ARC™ product generates and stores its own electricity using solar power and is equipped with the patented BeamTrak™ sun tracking system enabling each system to produce up to 25% more energy than a fixed solar array.

“More and more municipalities across the U.S. are seeing the benefits our EV ARC products have to offer as they work to meet sustainability goals laid out by their states,” said Desmond Wheatley, CEO of Beam Global. “EV ARC systems are an ideal charging infrastructure choice because they are not tied to the grid, which means they require no construction work, electric work or utility bill and therefore reduce cities’ overall costs. Because they are transportable, the systems can be relocated during emergencies or as public charging patterns emerge and change.”

The state of Colorado set a goal of 940,000 electric vehicles on the road by 2030 to accelerate the electrification of cars, buses, trucks and other vehicles. This is part of Colorado’s broader efforts to reduce greenhouse gas emissions, improve air quality and promote sustainable transportation options.

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. 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
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FAQ

What is the EV ARC™ system deployed by Beam Global in Pueblo, Colorado?

The EV ARC™ is an off-grid, solar-powered electric vehicle charging system that generates and stores its own electricity. It features a patented BeamTrak™ sun tracking system for increased energy production.

How is Pueblo, Colorado funding the deployment of Beam Global's EV charging systems?

The EV ARC™ systems in Pueblo are funded through a rebate from the U.S. Department of Energy Energy Efficiency and Conservation Block Grant (EECBG) program.

What is Pueblo's renewable energy goal that the Beam Global EV ARC™ systems support?

The deployment of Beam Global EV ARC™ systems supports Pueblo's commitment to being powered by 100% renewable energy by 2035.

How long will Pueblo offer free public charging using the Beam Global EV ARC™ systems?

Pueblo will offer free public charging using some of the Beam Global EV ARC™ systems through September 2024 as part of their no-cost charging station initiative.

What is Colorado's electric vehicle goal that aligns with Beam Global's EV ARC™ deployment in Pueblo?

Colorado has set a goal of having 940,000 electric vehicles on the road by 2030 to accelerate the electrification of transportation and reduce greenhouse gas emissions.