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Beam Global Secures First Sponsorship Deal with Globos Osiguranje to Deploy EV ARC™ Systems at Belgrade Airport
The EV ARC™ systems provide free public EV charging and a long-term recurring revenue stream for Beam Global SAN DIEGO, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Beam
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[{"type":"text","content":"The EV ARC™ systems provide free public EV charging and a long-term recurring revenue stream for Beam Global\nSAN DIEGO, Nov. 14, 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 its first sponsorship deal with Globos Osiguranje, one of Serbia’s premier insurance companies. Under this deal, Globos Osiguranje has sponsored five EV ARC™ solar-powered EV charging stations that are now deployed at Belgrade Nikola Tesla Airport, Serbia's busiest international travel hub, and will provide free public electric vehicle (EV) charging. In order to facilitate this sponsored Driving on Sunshine initiative, Beam Global previously secured an agreement with Belgrade Airport, part of VINCI Airports, an operator of over 70 airports in 14 nations across the globe, to operate the network in prime locations at Belgrade Nikola Tesla Airport with further cooperation with VINCI Airports to be considered. This milestone three-way partnership marks Beam Global’s entry into an owner-operator business model, generating income through a long-term annuity stream with recurring payments. By retaining ownership of the EV ARC™ systems, Beam Global secures a steady, predictable revenue stream while delivering sustainable solutions. Globos Osiguranje is uniquely able to provide Driving on Sunshine sponsored EV charging for free to EV owners because EV ARC™ systems do not require utility electricity and do not generate costs for the energy dispensed. Providing the EV charging for free while monetizing the sponsorship significantly lowers administrative costs and risks. The amenity value delivered to site hosts enables Beam Global to receive highly favorable economic terms on the parking spaces in which the EV ARC™ systems are placed. This unique model means that sponsorship payments are not diluted by typical operating costs which might burden companies that do not have Beam Global’s technology advantage. “I have been describing this sponsorship model for several years. The partnership with Globos Osiguranje at the Belgrade Airport is an exciting milestone for Beam Global as we continue to expand across Europe and it’s very exciting in that it validates the Driving on Sunshine sponsorship model,” said Desmon...