SAN DIEGO, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, announced the issuance of another patent by the China National Intellectual Property Administration (CNIPA) and the Office of the Controller General of Patents, Designs and Trade Marks (CGPDTM) in India, that cover the Company’s battery safety technology, with the patent title Thermal State of Charge Estimation of Phase Change Material (PCM) in a Battery Pack with a PCM Thermal Management System products.

The Chinese Patent Certificate for Patent No. ZL 2018 8 0026414.8 issued December 6, 2022, and the Indian Patent Certificate for Patent No. 412569 issued November 25, 2022, are for Beam Global’s smart battery management system (BMS) that monitors thermal storage capacity of the phase change material and automatically adjusts the power output of the battery packs and cells as a function of the thermal storage capacity of the phase change material to provide a heat output within a predetermined safe temperature limit.

“Battery safety is our number one priority at Beam. We now have various patents covering our battery technology and innovations in the US, China, the European Union, France, Germany and India,” said Desmond Wheatley, Beam Global’s CEO. “Our ability to deliver superior safety with technology that can mitigate thermal runaway propagation is making batteries safer across the many modes of transportation and automation that are electrifying, creating a significant differentiating advantage for us. Protecting this and all our other valuable IP in China, India and Europe is important particularly as we continue to consider international expansion opportunities.”

The electrification of transportation continues to gain global momentum. Worldwide sales of electric cars rose strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021, according to IEA. More vehicles were sold in China in 2021 (3.3 million) than in the entire world in 2020. The first quarter of 2022 showed similar trends, with sales in China more than doubling compared with the first quarter of 2021 (accounting for most of global growth), a 60% increase in the United States and a 25% increase in Europe. According to Straits Research in a July 2022 report, the global market for vehicle electrification was valued at USD 82.13 billion in 2021, and is anticipated to reach USD 186.8 billion by 2030. Asia-Pacific is anticipated to maintain its position as the most significant market.

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.

Forward-Looking Statements

This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations, including, but not limited to the following statements: statements regarding the proposed acquisition, its expected benefits, the acquisition’s anticipated timing, and the anticipated future financial performance as a result of the acquisition. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global's actual results to be materially different from these forward-looking statements. There can be no assurances that the proposed acquisition of AllCell will be completed. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

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