Beam (US:BEEM) Newsfilter·2024-06-13 10:00Industry Overview - The deployment of EV charging infrastructure in Vacaville signifies a major shift towards sustainable transportation, with California's EV market share increasing to 25% in 2023 from 18.84% in 2022, representing a record-breaking year for EV adoption [1][9] - California aims to install 1.2 million public and shared private chargers by 2030 to support the growing number of electric vehicles (EVs) [1][5] Company Profile - Beam Global is a clean technology innovator focused on sustainable energy infrastructure and scalable EV charging solutions, with operations in the U.S. and Europe [2] - The company has a deep patent portfolio and is listed on Nasdaq under the symbol BEEM, emphasizing its commitment to clean technology solutions [2] Product Offering - Beam's EV ARC™ systems can be rapidly deployed without the typical delays associated with grid-tied charger installations, making them a viable solution for public charging [1][10] - Each EV ARC™ system is off-grid, powered by 100% renewable energy, and capable of generating and storing clean electricity, thus providing reliable power during adverse weather and outages [10] Strategic Initiatives - The City of Vacaville's order for three EV ARC™ systems aligns with its commitment to sustainable energy and conservation, aiming to reduce greenhouse gas emissions [4][9] - The CEO of Beam Global highlighted the significance of this order as it opens new opportunities for public charging, anticipating a need for 12.5 million EVs and 1.2 million chargers in California by 2035 [5]