SAN DIEGO, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Beam Global
(https://beamforall.com/) (Nasdaq: BEEM
(https://finance.yahoo.com/quote/BEEM/)), a leading provider of innovative and
sustainable infrastructure solutions for energy storage and security,
electrification of mobility, and smart city infrastructure, announces it has
executed a Share Purchase Agreement (SPA) to acquire drone technology company
ScoutDI. ScoutDI develops, manufactures, and sells drone systems and a suite of
proprietary AI-enhanced software for the inspection of confined spaces and other
hard-to-access industrial assets, serving customers in the maritime, oil and
gas, energy and other industries. Upon completion of the acquisition
(https://beamforall.com/beam-global-enters-loi-to-acquire-european-drone-
technology-company-and-position-beam-to-become-a-vertically-integrated-drone-
company/), Beam intends to manufacture ScoutDI's drone systems for the U.S.
market in its existing U.S. factories. Beam intends to serve European and Middle
Eastern markets from Beam's European factories, which will be further enhanced
by the retention of ScoutDI's sales, engineering and manufacturing facilities.
ScoutDI has existing customers in 30 nations, including ExxonMobil, Chevron,
Oceaneering and Ørsted, as well as the global testing, inspection and
certification companies DEKRA, Applus+, Kiwa and Apave. Its technology is also
deployed in the field by Shell, Petrobras and Equinor. Beam intends to expand
drone sales across its existing customer base, which includes oil and gas
majors, industrial conglomerates, mining, agriculture, utilities, law
enforcement, border patrol, state, local and federal governments and U.S. and
European defense departments.
The purchase price of approximately $24.0 million will be paid in a combination
of cash and Beam common stock. Beam has secured commitments, subject to
customary transaction requirements, for non-dilutive financing sufficient to
fund the cash portion of the acquisition at closing on terms acceptable to the
Company. ScoutDI sellers are further eligible for full earn-out payments in
2026 and 2027 in the event that drone and software revenues exceed 150% and
160% of 2025 revenues, respectively. Earn-outs may be paid in a combination of
cash and Beam common stock. The transaction is expected to close in November
2026, subject to customary closing conditions.
ScoutDI's main shareholders, DNV, Equinor Ventures and Klaveness, will hold Beam
stock as a result of the acquisition.
"The ScoutDI acquisition will be a highly advantageous evolution of our current
business, as ScoutDI already has an established global drone and software
business with impressive margins and recurring revenues, serving Fortune Global
500 and other significant companies. Furthermore, the ScoutDI technology lends
itself to many other applications and opportunities for both enterprise and
government customers, which we intend to vigorously pursue through our global
network. I am confident that both the existing and future opportunities will
create significant new growth avenues for us," said Beam Global's Chairman and
CEO, Desmond Wheatley. "ScoutDI's Conditional Approval from the U.S. Department
of Defense enables its approved drone systems to be marketed in the U.S. We
believe our U.S. factories and skilled team are well positioned to deliver the
domestic manufacturing that the approval requires without material increases in
capital or operating expenditure, while our European facilities, combined with
ScoutDI's, will cover Europe and the Middle East."
"We currently produce batteries for drones, robots, submersibles and other
similar devices which we believe creates a significant differentiator and allows
Beam to become what may be the only vertically integrated drone manufacturer in
the U.S. that also produces its own batteries. Our patented BeamFlight(TM)
technology, which enables remote recharging of drones without construction or
grid infrastructure, adds a further layer of differentiation. We have built a
technology platform with global manufacturing and engineering capabilities
focused on energy, mobility and intelligence, and we believe Beam has the
potential to become a leader in the drone industry because of our depth of
experience in developing and manufacturing complex, patented technology
solutions for mobility, energy and smart city infrastructure and selling them to
exactly the sort of customers who we believe will value the new products and
technology we are gaining through this acquisition. I am also very happy to
welcome ScoutDI's leading shareholders, who are all highly respected entities,
to the Beam Global shareholder family," concluded Mr. Wheatley.
"Joining Beam is an exciting next step for ScoutDI. Our customers already rely
on our products to inspect confined spaces that are dangerous and costly to
enter, and Beam brings the U.S. manufacturing, global footprint, and energy
expertise to scale that much faster. Manufacturing in the U.S. is the key to the
U.S. commercial, government and defense markets, and together we can take our
technology to a far larger customer base. We have long believed that there are
many other industries and applications to which our technology, and some of the
exciting advances we are developing in our technology pipeline, like fully
autonomous operations, can bring value, and we plan to take advantage of Beam's
global footprint and relationships to create growth in new markets for our
products. We look forward to becoming an integral part of Beam and to
demonstrating our combined value to shareholders and customers alike," added
Nicolai Husteli, CEO of ScoutDI.
Nicolai Husteli will continue to lead ScoutDI within Beam. ScoutDI's Scout
Portal software generates recurring subscription revenue.
ScoutDI's Scout 137 Gen3 was the first European drone system, and among the
first four systems overall, to receive Conditional Approval from the U.S.
Department of Defense. As a result of the Conditional Approval, the system has
been exempted by the FCC from its Covered List and can be sold in the U.S. The
Conditional Approval remains effective subject to compliance with ScoutDI's U.S.
onshoring plan and updated government vetting of the product, and Beam intends
to manufacture the product in the U.S. following closing, consistent with that
onshoring plan. Beam believes that U.S. manufacturing and a documented domestic
supply chain will also position the Scout 137 for U.S. government and defense
procurement, subject to satisfying applicable requirements such as the American
Security Drone Act and the Blue UAS program.
ScoutDI's technology is inherently dual-use, with significant potential in
defense and security applications, and Beam intends to pursue these
opportunities through its U.S. manufacturing, its existing defense customer
relationships and its federal procurement channels.
The "Unleashing American Drone Dominance" executive order signed on June
6 2025, directs federal agencies to prioritize the integration of U.S.-
manufactured unmanned aircraft systems over foreign-manufactured systems and
directs the Department of Defense to prioritize procurement of Section 848-
compliant drones made by U.S. companies.
The global drone market has an estimated value of USD 96.4 billion in 2026, up
nearly 15% from 2025, and is projected to more than double by 2033, according to
a Grand View Research report. North America accounts for roughly 40% of the
global drone market, and Europe accounts for nearly 27% of the global market.
The drone market has experienced significant growth, driven by increases in
defense, public safety, industrial inspection, and delivery applications. Beam
believes the same capabilities open further markets, including inspection inside
tall buildings, elevator shafts, mines, tunnels and sewers, as well as public
safety, security and defense applications where a drone can enter structures
ahead of personnel.
About ScoutDI
ScoutDI develops drone systems and AI-enhanced software for safe and efficient
inspection of confined spaces and other hard-to-access industrial assets. Its
Scout 137 Gen3 drone system is used by inspection service providers and asset
owners in the maritime, oil and gas and energy sectors to reduce the need for
manual entry into tanks, cargo holds and other confined spaces. By replacing
scaffolding, rope access and manual entry with a single drone flight, ScoutDI
helps customers improve safety, shorten downtime, lower inspection costs and get
consistent inspection data that can be compared over time. ScoutDI is
headquartered in Trondheim, Norway. For more information visit scoutdi.com
(http://scoutdi.com).
About Beam Global
Beam Global is a sustainable technology innovator that develops and manufactures
infrastructure products and technologies. The Company operates at the nexus of
innovative and reliable energy, transportation and smart city solutions with a
focus on sustainable energy infrastructure, rapidly deployed and scalable EV
charging solutions, safe energy storage, energy security and intelligent
infrastructure. With operations in the U.S., Europe and the Middle East, Beam
Global develops, patents, designs, engineers and manufactures unique and
advanced technology solutions that power transportation, provide secure sources
of electricity, enable smart city services, save time and money, and protect the
environment. Beam Global is headquartered in San Diego, CA, with facilities in
Yuma, AZ; Broadview, IL; Belgrade and Kraljevo, Serbia; and Abu Dhabi, UAE. Beam
Global is listed on Nasdaq under the symbol BEEM. For more information visit
BeamForAll.com (https://beamforall.com/), LinkedIn
(https://www.linkedin.com/company/beamforall/), YouTube
(https://www.youtube.com/BeamForAll), Instagram
(https://www.instagram.com/beamforall/)and X (https://x.com/BeamForAll/).
Forward-Looking Statements
This Beam Global Press Release contains 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. Forward-looking statements in this
Press Release include, without limitation, statements regarding the proposed
acquisition, the financing and completion of the proposed acquisition, the
anticipated benefits of the proposed acquisition, the establishment of U.S.
manufacturing, the continued effectiveness of ScoutDI's Conditional Approval and
FCC Covered List exemption, ScoutDI's compliance with its onshoring plan, the
integration of ScoutDI's technology and operations with Beam Global, the
development of new product capabilities like autonomous operations, potential
sales to existing and new customers, and expected growth and opportunities in
the drone market.
These statements relate to future events or future results of operations. 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. These risks and
uncertainties include, among others, the possibility that the parties may not
complete the proposed acquisition; that Beam may be unable to obtain sufficient
financing on acceptable terms or at all, or that any financing may result in
dilution to existing stockholders; that applicable closing conditions may not be
satisfied; that the acquisition or proposed U.S. manufacturing activities may
require governmental notices, reviews, approvals or modifications to ScoutDI's
existing onshoring plan; that ScoutDI's Conditional Approval or FCC Covered List
exemption may be modified or terminated; that anticipated manufacturing,
integration, customer and other benefits may not be realized; and that actual
market conditions and growth may differ from third-party estimates. Additional
risks and uncertainties are described in Beam Global's filings with the
Securities and Exchange Commission, including under the caption "Risk Factors"
in its most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q and other filings with the SEC.
There can be no assurance that the proposed acquisition will be completed on the
contemplated terms or at all. Except to the extent required by law, Beam Global
expressly disclaims any obligation to update any forward-looking statements.
Investor Relations
Luke Higgins
+1 858-261-7646
IR@BeamForAll.com (mailto:IR@BeamForAll.com)
Media Contact
Lisa Potok
+1 858-327-9123
Press@BeamForAll.com (mailto:Press@BeamForAll.com)
A photo accompanying this announcement is available at
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4068-8ed8-0e619ce3b24f
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