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 (BEEM) is a leader in sustainable infrastructure solutions, specializing in off-grid EV charging systems and renewable energy technologies. This page aggregates official company announcements, providing stakeholders with timely updates on product innovations, strategic partnerships, and operational milestones.
Investors and industry observers will find curated press releases covering EV ARC deployments, Solar Treeline installations, and financial performance updates. Our collection focuses on verified developments in clean transportation infrastructure and energy security solutions without speculative commentary.
Content spans regulatory updates, technology patents, and disaster response initiatives that demonstrate BEEM's unique market position. Bookmark this page for efficient tracking of the company's progress in advancing grid-independent power solutions for commercial and government applications.
Beam Global (Nasdaq: BEEM) has signed its first European distribution agreement with Geci Group S.A. to market, sell, service, and support Beam's products in Spain, Portugal, and the Spanish-speaking Caribbean. This strategic move marks the beginning of Beam's expansion into international markets, particularly Europe, which is the largest market for their products.
Geci Group, a prominent manufacturer and integrator of transportation infrastructure, has experience in selling complex systems in transportation and energy sectors. The partnership aims to leverage Geci's existing relationships with potential customers in target markets.
This agreement is part of Beam's strategy to add outsourced distributors and agents to complement their internal sales team. The move comes as both Spain and Portugal show significant growth in electric vehicle adoption and charging infrastructure development, with market projections indicating substantial expansion in the coming years.
Beam Global (Nasdaq: BEEM), a leader in sustainable infrastructure for transportation electrification and energy security, has announced its Q2 2024 earnings release and conference call schedule. The company will report Q2 2024 operating results on Tuesday, August 13, 2024, after market close. A conference call will follow at 4:30 p.m. ET / 1:30 p.m. PT on the same day, featuring management's formal remarks, financial results review, corporate development updates, and a Q&A session.
Interested parties can join the call via toll-free (1-844-739-3880) or international (1-412-317-5716) dial-in numbers. Pre-registration is available through a provided link. Callers are advised to dial in about 10 minutes before the start time. A webcast archive will be accessible for one year following the call.
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.
Beam Global (Nasdaq: BEEM) has announced record-breaking Q2 purchase orders of $10.6 million, marking a 128% year-over-year increase. The substantial growth is driven by new and repeat government contracts across multiple U.S. states and a 66% rise in U.S. commercial orders. Additionally, Beam Global shipped its first EV ARC™ systems to Europe for the UK Ministry of Defence, marking a significant expansion into the European market.
Key accomplishments in Q2 include deliveries across numerous U.S. states, new customer wins, and a record production of ARC Mobility™ trailers. The company remains debt-free, maintains sufficient cash reserves, and has an untapped $100 million credit line. Future plans include the launch of new EV charging infrastructure products and expansion into international markets.
Beam Global (NASDAQ: BEEM) announced that the City of Vacaville, California, has deployed three of its EV ARC™ solar-powered EV charging systems for public use. These units were purchased through the California Department of General Services contract, which simplifies the procurement process. This deployment aligns with Vacaville's commitment to sustainability and aims to reduce greenhouse gas emissions. The EV ARC™ systems, which do not require electrical work or utility bills, are off-grid and powered by 100% renewable energy. They can generate and store electricity, providing a reliable power source even during inclement weather and outages. Mayor John Carli emphasized this initiative as a commitment to environmental stewardship. Beam Global CEO Desmond Wheatley highlighted the significance of this public deployment, anticipating a rise in public EV charging needs as California aims for 1.2 million chargers by 2030.
Beam Global announced record-breaking first quarter 2024 results, with revenues reaching $14.6 million, a 12% increase from Q1 2023. Gross profit hit $1.5 million, supported by a 10.2% gross margin. The company secured significant new orders, including $7.4 million from the U.S. Army and $4.8 million from the Department of Homeland Security. Beam Europe contributed to revenue growth following the Amiga acquisition. Despite a net loss of $3.0 million, this marks an improvement from a $3.8 million loss in Q1 2023. The company has a strong pipeline worth over $160 million and remains debt-free with a $100 million credit line available.
Beam Global (Nasdaq: BEEM), a leader in sustainable infrastructure solutions, will release its Q1 2024 operating results on May 20, 2024, post-market close. A conference call is scheduled for May 21, 2024, at 4:30 p.m. ET to discuss these results and provide corporate updates. The call will include a Q&A session. Participants should pre-register via the provided link and dial in 10 minutes before the start time. A webcast archive will be available for one year after the call.
Beam Global, a leading provider of sustainable infrastructure solutions, announced that the Federal Railroad Administration has ordered EV ARC™ solar-powered EV charging systems for federal fleet vehicles at the Transportation Technology Center in Pueblo, CO. The systems are off-grid, generate their own electricity, and have the ability to charge EVs during blackouts, making them a cost-effective and reliable solution for the federal government's fleet electrification efforts.
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