Beam Global Granted European Patent for Thermal Management Technology that Makes Lithium-ion Batteries Safer
February 22 2024 - 6:00AM
Beam Global, (Nasdaq: BEEM, BEEMW), a leading provider of
innovative and sustainable infrastructure solutions for the
electrification of transportation and energy security, has been
granted another new patent by the European Patent Office that
covers the Company’s battery safety technology, with the patent
title Thermal State of Charge Estimation of Phase Change Material
(PCM) in a Battery Pack with a PCM Thermal Management System.
The European Patent Office granted European Patent No. EP 3 596
774 B1 for Beam Global’s smart battery management system (BMS) that
monitors thermal storage capacity of Beam Global’s proprietary
phase change composite (PCC™) material and automatically adjusts
the power output of the battery packs and cells as a function of
the PCC™ thermal storage capacity to ensure a predetermined safe
temperature limit.
“Battery safety is our number one priority at Beam Global. We
now have various patents covering our battery technology and
innovations in the US, China, the European Union, France, Germany
and India,” said Desmond Wheatley, Beam Global’s CEO. “Our ability
to deliver superior safety with technology that can mitigate
thermal runaway propagation is making batteries safer across the
many modes of transportation and automation that are electrifying,
creating a significant differentiating advantage for us. Protecting
this and all our other valuable IP in China, India and Europe is
important particularly as we expand internationally.
According to the International Energy Agency, in 2022, lithium
nickel manganese cobalt oxide (NMC) remained the dominant battery
chemistry with a market share of 60%. Beam Global’s patented
battery solutions are designed to make this dominant technology
safer. The electrification of transportation continues to grow at a
high rate. Worldwide sales of electric cars rose in 2023, with 13.6
million sold, up 31% from 2022 (Reuters article citing Rho
Motion). Fully electric or BEVs (battery electric vehicles)
accounted for 9.5 million, or 70% of all EVs sold in 2023, while
BEV sales in the U.S. and Canada jumped 50% year-over-year. Early
2024 data shows global EV sales up 69% in January 2024 compared to
January 2023.
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 symbols BEEM and BEEMW. For more information visit
BeamForAll.com, LinkedIn, YouTube and X (formerly 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 acquisition of
Amiga, its expected benefits, 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. Except to the extent required by law,
Beam Global expressly disclaims any obligation to update any
forward-looking statements.
Media Contact:Skyya PR+1
651-335-0585Press@BeamForAll.com
Investor Relations:Core IR+1
516-222-2560IR@BeamForAll.com
Beam Global (NASDAQ:BEEM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Beam Global (NASDAQ:BEEM)
Historical Stock Chart
From Apr 2023 to Apr 2024