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 a partnership with Volvo Construction Equipment
(Volvo CE) that allows Volvo CE's 245 North American dealer
locations to bundle Beam EV ARC™ off-grid charging systems with a
purchase of Volvo electric equipment. This joint offering enables
construction sites to rapidly deploy EV charging, without the
requirement for electrical work, utility grid connections or fossil
fuel generators, to power zero-emissions construction equipment
that runs on the sun and does not generate a utility bill.
"The construction industry has the opportunity to future-proof
its business against noise, carbon emissions regulations and
volatile fossil fuel costs by adopting electric machines," said
Beam Global CEO Desmond Wheatley. "By providing our sustainable EV
charging systems alongside Volvo's best-in-class electric machines,
we are enabling that transition in the fastest, cleanest and most
scalable manner available. We're proud to partner with Volvo CE in
electrifying the construction business."
Volvo CE currently offers five models of electric machines in
North America, the L20 and L25 Electric wheel loaders, and the
EC18, ECR18 and ECR25 Electric excavators. Now Volvo dealers can
bundle transportable, off-grid solar EV charging systems with
electric machine orders. Together, the EV ARC™ and Volvo electric
machines produce zero emissions, significantly reduce noise levels
and lower energy costs, making them ideal for construction sites
where emissions regulations, noise ordinances or the risks of
indoor air pollution limit the use of diesel generators and
construction equipment.
"The Volvo CE line of zero-emissions construction equipment can
now be charged with a zero-emissions energy source provided by the
EV ARC. Beam Global shares our vision to electrify mobility
worldwide, a critical step towards mitigating climate change and
reducing noise and air pollution," said Ray Gallant, VP Product
Management and Productivity at Volvo CE. "The construction industry
is ready for an energy transition that reduces emissions and
improves machinery's performance, longevity and usability. We're
committed to an electric future and view Beam Global as a strategic
partner on this journey."
Beam Global's EV ARC™, the fastest deployed and lowest-cost EV
charging system on the market, is the ideal solution for Volvo CE's
electric machines. Compact and easily transportable, the EV ARC™
system can be set up and ready to use in minutes. The EV ARC™ is
fully autonomous, meaning it generates, stores and delivers
electricity independent of the grid. Whether the project is in a
remote nature preserve or a densely populated city with strict
zoning rules, the solar-powered EV ARC™ can be deployed without any
electrical work or permitting.
The offer is available through the Volvo dealer network, an
already trusted partner, giving partners an established convenient
single point of contact for purchase. Because the EV ARC™ is part
of the Extended Offer Catalog, Volvo Financial Services can be
utilized to lease or finance the bundled EV ARC™ and compact
electric machines with flexible financing options.
McKinsey & Company estimates that construction is an $11
trillion industry that accounts for 13% of global GDP. The global
construction equipment market is projected to grow from $142
billion in 2021 to $224 billion in 2028 according to Fortune
Business Insights. The United Nations Environment Programme finds
that the buildings and construction industry accounted for 38% of
global carbon emissions in 2019. With many governments aiming to
achieve net-zero emissions by 2050, electric machinery will become
essential. Residential and commercial builders and equipment rental
companies are likely to add electric vehicles to their fleets.
Federal agencies such as the U.S. Department of the Interior and
the U.S. Department of Agriculture already use electric machines in
remote, environmentally sensitive areas.
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.com
Investor Relations:Kathy
McDermottIR@BeamForAll.com+1 858-799-4583
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ab294bf8-3df2-4796-9c65-9f5d175bb940
https://www.globenewswire.com/NewsRoom/AttachmentNg/7bfdffa7-3ab8-48bf-a17e-dd93adad180f
A video accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0689aa9-93bc-4960-ab5b-d6071ffb167b
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