SAN DIEGO, Nov. 21, 2023 (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 EV Standard(TM), the Company's renewably
energized streetlight replacement products which provide curbside EV charging.
The European Patent Office granted European Patent No. EP3743655 for the
Company's EV Standard(TM) product which is capable of delivering street lighting
and meaningful curbside EV charging by combining solar, wind and utility-
generated electricity in a bank of Beam Global's proprietary integrated
batteries. The patent was issued on July 12, 2023 in the European Patent
Bulletin 2031 10.22.
Equipped with a high-lumens, low-consumption LED light and a Level II EV
charger, the innovative product has been designed to provide a clean and
inexpensive EV charging solution which does not require new or upgraded utility-
grid circuits, or the trenching, construction, easements, leases and complex
permitting required for traditional curbside charging. Most of the energy used
for EV charging will come from renewable sources, specifically wind and solar,
reducing the carbon impact and the cost of the electricity consumed.
To address energy security, the EV Standard(TM) can continue to provide EV
charging, a source of emergency power and light, during grid outages as well as
support and power other vital infrastructure such as IoT connected devices,
smart city sensors and environmental monitors.
"The EV Standard is an important addition to our existing portfolio which I
believe will not only be transformational for the Company, but for the EV
charging, transportation and lighting efficiency markets as well," said Desmond
Wheatley, CEO of Beam Global. "As a result of our recent acquisition, Beam
Europe is now one of Europe's leading manufacturers of streetlights and is well
positioned to bring our patented EV Standard to market both in Europe and the
U.S. Once launched, the new products will enable cities to overcome the hurdles
associated with the provision of on-street EV charging while also providing an
energy efficient and sustainable lighting solution. Beam Europe has engineering,
product development and manufacturing capabilities that are ideally suited to
rapidly design, engineer, manufacture and deliver a broad line of EV Standard
products globally."
EV Standard(TM) products can be deployed without having to invest in expensive,
disruptive and time-consuming civil or electrical upgrades by leveraging the
streetlight's preexisting foundations and enhancing existing connections to the
electrical grid through the addition of wind and solar generation and on-board
proprietary batteries. The EV Standard(TM) product will benefit from IP and
patented technologies previously developed by Beam Global and already
successfully used in EV ARC(TM) systems. The products will fill a significant gap
in the current EV charging infrastructure market as electric vehicles become
more widespread and the demand for on-street charging becomes urgent.
Global EV sales are on track to meet or outpace even the most ambitious net-zero
timelines and could account for more than two-thirds of market share by 2030,
following exponential growth trends, according to new analysis September 2023 by
RMI (Rocky Mountain Institute) in partnership with the Bezos Earth Fund
(https://rmi.org/press-release/evs-to-surpass-two-thirds-of-global-car-sales-by-
2030-putting-at-risk-nearly-half-of-oil-demand-new-research-finds/). Globally,
combustion car sales peaked in 2017, and by the middle of the decade more will
be scrapped than sold, meaning the overall fleet of combustion cars is about to
peak and will be in freefall by 2030, the RMI research shows. Following an 'S-
curve'* trajectory, already established by leading EV markets in Northern Europe
and China, implies that global EV sales will increase at least sixfold by 2030,
to enjoy a market share of 62% to 86% of new vehicle sales, the analysis shows.
Beam Global views the addition of new product lines and the recent expansion
into the European market as a major opportunity for growth of the company's
total addressable market.
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
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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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