Business
Beam Global Announces Record Q2 Purchase Orders and First EV ARC™ Shipments in Europe
Purchase orders up 128% year-over-year with over half of U.S. orders from new customersBeam Global ships first EV ARC™ systems for UK Ministry of Defence
About this update from Beam Global
[{"type":"text","content":"Purchase orders up 128% year-over-year with over half of U.S. orders from new customersBeam Global ships first EV ARC™ systems for UK Ministry of Defence (MOD) from European facilityBeam Global CEO Desmond Wheatley and the Company’s executive team to ring the opening bell at Nasdaq today SAN DIEGO, July 02, 2024 (GLOBE NEWSWIRE) -- Beam Global (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced record Q2 new orders of $10.6 million, up 128% year-over-year. Beam Global expanded government contracts with new and repeat orders from state agencies in California, Massachusetts, Nevada and North Carolina and from 15 local government entities. The Company’s U.S. commercial business continued to grow with Q2 commercial orders up 66% year-over-year. Government and commercial customers in the U.S. continue to expand electric vehicle (EV) charging infrastructure to support sustainability initiatives, community and workplace programs, fleet electrification and emergency preparedness. Beam Global’s products serve as backup power sources in times of black and brown outs caused by severe weather and/or lack of capacity caused by increased electricity demand. In Europe, Beam Global shipped its first EV ARC™ systems to Cyprus for the UK Ministry of Defence, marking a significant milestone since the Company’s entrance into the European market. Additional Q2 Company Highlights: Delivered products in the U.S. to: California, Tennessee, Kentucky, Indiana, Maryland, Virginia, Pennsylvania, Puerto Rico, Texas, Ohio, Utah, Hawaii, New York, North Carolina, Minnesota, Wisconsin, Arizona, Colorado, New Mexico, Illinois, Iowa and NevadaShipped products in Europe to: Serbia, Croatia, Greece, Romania, Cyprus, Montenegro, Bosnia and HerzegovinaOver half of Q2 EV ARC™ orders are new customers, expanding the customer base, including: Two major California public transportation providersA global supplier of advanced mobility products and systemsSacramento Municipal Utility District (SMUD)Data center leader based on security and grid relief featuresU.S. Federal Railroad Administration New customer deployments included 16 non-Federal customersNew orders from U.S. commercial business in Q2 increase 66% year-over-yearOver half of Q2 EV ARC™ orders are...