Beam Global Receives $847k Battery Order to Power Recreational Watercraft
January 24 2023 - 8:00AM
Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of
innovative sustainable products and technologies for electric
vehicle (EV) charging, energy storage, energy security and outdoor
media, announced an $847k order for Beam Global’s energy storage
solutions to power recreational watercraft. The battery packs
include Beam’s patented PCC™ thermal management technology for
superior safety, higher energy density and longer life. The
customer is an American company that designs, assembles and
distributes all-electric personal watercraft.
“The global market for the electric marine sector is expected to
grow over 330% over the next decade. We are confident that marine
solutions powered by Beam’s advanced battery technology are going
to be part of that growth,” said Beam Global CEO Desmond Wheatley.
“The marine propulsion industry is starting to design seriously for
electrification, with an aim to eliminate emissions, reduce water
pollution and forge new customer experiences. Tailwinds from the
auto industry and increasing government regulations are helping
push this market to develop and grow.”
The Beam Global energy storage solution used in this watersport
product includes patented PCC™ technology for advanced thermal
management and energy density. The advanced, compact, lightweight
and long-lasting lithium-ion batteries are manufactured in Beam’s
Broadview Illinois facility by our team of world-class engineers
and battery experts.
According to Future Market Insights the global electric
watercraft market value is projected to increase 336% from US$5.65
billion in 2022 to US$19 billion by 2032. Due to growing worries
about environmental and marine pollution, industries are switching
to renewable energy sources from fossil fuels and some regional
governments are enforcing strict regulations to slow the growth of
pollution on the waters. This is expected to drive the electric
watercraft market forward.
About Beam Global
Beam Global is a clean technology leader providing innovative,
sustainable products and technologies for electric vehicle (EV)
charging, energy storage, energy security and outdoor media. Core
platforms include Beam EV ARC™ and Solar Tree® sustainable EV
charging systems, Beam AllCell™ high-performance energy storage
solutions, energy resiliency and disaster preparedness products and
a deep patent library.
Beam EV ARC™ EV charging infrastructure systems support any
quality brand EV charging service equipment, and Beam AllCell™
battery solutions power micro-mobility, terrestrial EVs, aviation,
maritime and recreational vehicles as well as stationery and
energy-security platforms.
Beam develops, patents, designs, engineers and manufactures
unique and advanced clean mobility solutions that protect the
environment, save customers time and money, empower communities and
keep people moving. Based in San Diego and Chicago, the company
produces Made-in-America products with the mission to Lead the
World to Clean Mobility. Beam Global is listed on Nasdaq under the
symbols BEEM and BEEMW. For more information visit BeamForAll.com,
LinkedIn, YouTube and 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 relate to future events or future results
of operations, including, but not limited to the following
statements: statements regarding the proposed acquisition, its
expected benefits, the acquisition’s anticipated timing, and the
anticipated future financial performance as a result of the
acquisition. 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. There can be no assurances that
the proposed acquisition of AllCell will be completed.
Except to the extent required by law, Beam Global expressly
disclaims any obligation to update any forward-looking
statements.
Media Contact:Next PR+1
813-526-1195Press@BeamForAll.comInvestor
Relations:Kathy McDermottIR@BeamForAll.com+1
858-799-4583
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