Beam Global Acquires Energy Storage Company

Solar EV charging provider Beam Global announced Feb. 23 it has entered into a definitive asset purchase agreement to acquire AllCell Technologies, a maker of energy storage solutions and technologies. The all-stock transaction is expected to close March 1 subject to customary closing conditions.

Beam (Nasdaq: BEEM, BEEMW) will host an investor call to discuss the transaction on March 1, 2022 at 1:30 p.m. PT / 4:30 p.m. ET. A recorded video interview with Beam CEO Desmond Wheatley discussing the deal is live on the Beam blog.

Management expects the acquisition of AllCell to impact Beam Global by increasing and diversifying revenues and gross profits; significantly reducing cost of goods sold (COGS); enhancing foundational intellectual property portfolio; securing Beam Global’s vital battery supply chain; accelerating product development cycles; combining customer facing roles and outreach; adding new customer segments; increasing barriers to entry for future competition; and enhancing Beam’s position as a leader in the green economy

About Beam Global

Beam Global is a clean technology leader providing innovative, sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media. Core platforms include Beam EV ARC™ and Solar Tree® sustainable EV charging systems, Beam AllCell™ high-performance energy storage solutions, energy resiliency and disaster preparedness products and a deep patent library.

Beam EV ARC™ EV charging infrastructure systems support any quality brand EV charging service equipment, and Beam AllCell™ battery solutions power micro-mobility, terrestrial EVs, aviation, maritime and recreational vehicles as well as stationery and energy-security platforms.

Beam develops, patents, designs, engineers and manufactures unique and advanced clean mobility solutions that protect the environment, save customers time and money, empower communities and keep people moving. Based in San Diego and Chicago, the company produces Made-in-America products with the mission to Lead the World to Clean Mobility. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW. For more information visit BeamForAll.com, LinkedIn, YouTube and Twitter.

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