Welcome to our dedicated page for Beam Global news (Ticker: BEEM), a resource for investors and traders seeking the latest updates and insights on Beam Global stock.
Beam Global develops and manufactures sustainable infrastructure products for transportation electrification, energy security and smart city applications. News about BEEM commonly covers deployments of EV ARC™ off-grid, solar-powered EV charging systems, ARC Mobility™ trailers, smart city infrastructure orders, power electronics, and patented renewable generation and storage technologies.
Company updates also include customer and reseller activity across the United States, Europe and the Middle East, intellectual-property developments such as integrated wind and solar power generation patents, annual operating results, backlog and revenue mix commentary, and the expansion of products designed for rapid deployment without construction or utility-grid connection.
Beam Global has partnered with a leading entertainment franchise to deploy its EV ARC™ solar-powered EV charging system, providing sustainable energy solutions for film production sites. This innovative system replaces traditional generators, offering clean energy without construction or utility costs. CEO Desmond Wheatley anticipates growth in sustainable film solutions, especially following the Sustainable Production Alliance's carbon emissions report. Beam Global aims to enhance environmental impact in entertainment while promoting its patented technologies, all manufactured in the USA.
Beam Global (Nasdaq: BEEM, BEEMW) announces a fifth order for its EV ARC™ systems from a federal customer, utilizing the GSA Multiple Award Schedule Contract. This marks a significant step in government procurement processes, indicating increased federal investments in electric vehicle infrastructure. The company expects to benefit from rising government initiatives, including President Biden's proposed $174 billion investment in the EV market. Beam Global's products are designed for quick deployment and sustainability, enhancing the company’s competitive edge in the growing EV market.
Beam Global (Nasdaq: BEEM, BEEMW) is set to report its Fiscal First Quarter 2021 financial results on May 13, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss the results and corporate developments. The company specializes in sustainable technology for electric vehicle (EV) charging and outdoor media, including products like the EV ARC™ and Solar Tree®. Beam Global aims to provide innovative, grid-independent solutions that contribute to environmental sustainability.
Beam Global announced the deployment of two EV ARC™ solar-powered charging systems by the City of San Diego to support its fleet of electric vehicles. This initiative aligns with San Diego's Climate Action Plan aiming for 90% zero-emission vehicles by 2035. The EV ARC systems offer scalable and resilient infrastructure, powered entirely by renewable energy, cutting installation costs and time. Mayor Todd Gloria emphasized the program's role in reducing emissions and saving taxpayer dollars. The partnership enhances the city's commitment to sustainable transportation.
Beam Global has appointed Nancy Floyd to its Board of Directors, where she will serve as Chair of the Audit Committee. Floyd, a seasoned expert in clean energy and utilities, brings over 30 years of experience, including her role as founder of Nth Power LLC. Her extensive background in venture capital and corporate governance is expected to bolster Beam's growth strategy. The company specializes in innovative sustainable technologies for electric vehicle (EV) charging, enhancing energy security without the drawbacks of grid-tied solutions.
Beam Global has deployed two EV ARC™ sustainable EV charging systems in Georgia, enhancing public access to electric vehicle charging. These units serve high-traffic areas in metropolitan Atlanta and rural regions. CEO Desmond Wheatley emphasized the role of solar-powered systems in overcoming permitting and construction hurdles, contributing to energy resilience strategies. An analyst report reveals that 90% of utility executives acknowledge challenges posed by climate change, highlighting the increasing importance of energy resilience planning.
Beam Global (Nasdaq: BEEM, BEEMW) reported record fiscal year 2020 revenues of $6.2 million, up from $5.1 million in 2019, driven by significant shipments to California. The company expanded its government contracts, including with federal and state agencies in Florida. However, Beam faced a net loss of $5.2 million due to increased operating expenses and gross loss of $710,974. Cash reserves rose significantly to $26.7 million, bolstered by $17.4 million from public offerings. Beam also improved its EV ARC charging system efficiency by 12%, now delivering up to 265 e-miles daily.