SAN DIEGO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Beam Global
(https://beamforall.com/), (Nasdaq: BEEM
(https://finance.yahoo.com/quote/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(TM)) material and
automatically adjusts the power output of the battery packs and cells as a
function of the PCC(TM) 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).
(https://www.reuters.com/business/autos-transportation/global-electric-car-
sales-rose-31-2023-rho-motion-2024-01-11/) 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
(https://www.reuters.com/business/autos-transportation/global-ev-sales-up-69-yy-
jan-down-26-vs-dec-rho-motion-2024-02-14/) 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
(https://beamforall.com/), LinkedIn
(https://www.linkedin.com/company/beamforall/), YouTube
(https://www.youtube.com/BeamForAll) and X (formerly Twitter)
(https://twitter.com/BeamForAll).
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
+1 651-335-0585
Press@BeamForAll.com (mailto:Press@BeamForAll.com)
Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com (mailto:IR@BeamForAll.com)
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