Took five days for the first order of Beam Global’s ARC system to come through the new UK authorization they received on March 7. $1M order.
“Meeting the myriad challenges posed by climate change requires close collaboration between international allies. This fantastic project shows the strength and benefit of the UK and U.S. industry partnership,” said Brigadier Tom Harper – the British Strategic Command attaché to the U.S. “Beam Global’s patented solar-powered EV ARC will provide not only clean energy for British military electric vehicles in Cyprus, but the product is multi-utility and will be trialled to provide green energy and power key defence equipment in remote locations and overseas areas.”
Like many orders in the US, the initial places seeing the need for this are military/state/security related. I don’t know how big that TAM is, when you consider the global picture, but it’s not small.
And governments are under pressure, something that is described in the above release:
HM Government of the United Kingdom has committed that government owned cars and vans be zero emissions by 2027 and that 80% of all new cars sold in the UK in 2030 are zero emissions moving to 100% by 2035.
JabbokRiver
Long $BEEM 6.7%
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I really like the basic concept and the aesthetics of the design is appealing. I bot after an early post and a review of the company, but sold on the pop, because the cost and generating capacity just do not support purchases from anyone but a government, who just doesn’t care about financial justification.
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There are a lot of governments and related agencies and departments around the world. Be sure to include all the military services.
Use cases thus far include everything from prisons to individual municipalities to national parks.
Add places prone to flooding and natural disasters who need emergency services up and running quickly. Beam’s ARC systems can withstand 9.5 ft of flooding and 160mph winds.
Add places where the grid is unstable, overloaded, or flat out not present like in much of the developing world. The CEO points to the example of how many in Africa went straight from no electronic communication to cell phones. Their new facility in Serbia, now Beam Europe, already has a customer base in many African countries.
The company is a tiny micro cap with a market cap of just over/under $100M. Any orders at all make a huge difference. They’re looking at profitability within the next year with a price/sales (ttm) at 1.7, probably less as of today’s market selloff. No debt. And the additional efficiencies that come with the manufacturing plant they just bought outright in Serbia mean bigger margins.
The product may not be for everyone, but governments are not a small matter when you’re as small and under-penetrated as they are, have a global footprint, and have major governments like the US and UK granting them authorizations.
JabbokRiver
Long $BEEM 6.97%
16 Likes
I just found a helpful YouTube video about this UK military purchase from Beam Global. For those unfamiliar with the foundational product, the ARC system, you’ll get a closer look with the CEO narrating the advantages. It’s just over 14 minutes total.
What I found new in this was when the military officer from the British army spoke about the experimental uses they are testing with their initial purchase of 10 ARC systems in Cyprus. He starts at minute 6:50. The new information for me is that the ARC system can also be used basically as a generator for computer equipment, medical equipment and whatever else is needed.
I don’t know what the ROI is for this kind of use vs regular generators, or whether the output would be enough, but it made me remember a dear friend who was a chaplain at NYU’s Langone Medical Center during Superstorm Sandy. She was one of the people evacuating babies from their NICU unit, down dark back stairs, when the storm knocked out their power. Could this unit (or multiples of them) have withstood the storm when their other generators could not?
I don’t know, but it sounds like that’s the kind of thing the British are testing in Cyprus with field hospitals. Since the ARC system can withstand 9.5 ft of flooding and 165 mph winds, a successful test of that would save lives.
JabbokRiver
6.5% $BEEM
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