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Beam Global (BEEMW) develops and manufactures clean-technology infrastructure for electrified transportation, off-grid EV charging, energy storage and energy security. News about Beam Global commonly covers EV ARC™ solar-powered charging deployments, purchase orders, federal and municipal fleet customers, and the company's operations in the United States and Europe.
Company updates also report operating results, order activity, government procurement channels such as GSA and state contracts, patent-backed product development, and expansion of manufacturing and sales capabilities for sustainable charging infrastructure.
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.