Business
Beam Global Announces Record Deliveries in 2021 and Record Combined Starting Backlog and Pipeline for 2022 Growth Momentum
SAN DIEGO, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable technology for electric
About this update from Beam Global
[{"type":"text","content":"SAN DIEGO, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, today announced that 2021 EV ARC™ system shipments increased 62% over the prior year and that the Company started the new year, 2022, with higher combined backlog and pipeline than in any previous year in its history. Beam experienced unprecedented growth and success on multiple fronts in 2021 and established strong momentum for 2022 as EV charging infrastructure spending from both government and corporate entities is set to increase and EVs of all types become increasingly numerous on the nation’s roadways. Ahead of earnings that will be announced later this quarter, among the company’s accomplishments in 2021: 62% growth in system deliveries year-over-year66% growth in Q4 ‘21 system deliveries over Q3 ‘21Record Q4 deliveries for an increase of 45% over the same period prior yearRecord Q3 deliveries for an increase of 123% over the same period prior yearQ2 deliveries increased 109% over the same period prior year20 U.S. states and Canada ordered or deployed Beam EV ARC™ solar-powered EV charging systemsExpanded non-government sales among business sectors including automotive, commercial real estate, construction, travel and entertainment, pharmaceuticals and educationIncreased sales to utilitiesStrong growth in federal sales, including a U.S. Marine Corps order for deployment at 14 basesSet the world record for the longest flight in a production electric aircraft, charged exclusively by transportable, off-grid EV ARC™ systemsIncreased EV ARC™ system energy performance by 12%Streamlined production and deployment for significant gain in efficiencies “In 2021 we demonstrated that we can dramatically increase sales and deliver on those sales,” said Beam Global CEO Desmond Wheatley. “We were able to ramp up our production levels during this year of increasing demand through process improvements, labor efficiencies and increased staffing, and we are well positioned for significant growth in 2022. We are heading into 2022 in a better position than in any previous year and at a time when we expect to see spending and urgency increasing dramatically in the industry. Commitments of $7.5B from the Federal government and over $6B fro...