Beam Global Signs First European Distribution Agreement

Geci Group will sell Beam Global Products in Spain, Portugal and the Spanish Speaking Caribbean

SAN DIEGO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, has signed the first distribution agreement for the European market. Geci Group S.A., a dominant manufacturer, supplier and integrator of transportation infrastructure, will market, sell, service and support Beam Global products in Spain, Portugal and the Spanish speaking Caribbean.

“This first distribution agreement is just the beginning of our strategic expansion of sales resources into international markets, especially Europe - the largest in the world for our products. I’m very enthusiastic about this new initiative of having quality organizations, who are well positioned within our target markets, multiplying our internal sales team’s efforts,” said Desmond Wheatley, CEO of Beam Global. “Geci Group is a perfect example of the sort of organizations that we are currently integrating into our model. They have an excellent track record of selling and maintaining complex systems within the transportation and energy sectors, including EVs, ports, aviation and EVTOLs and the military, and they also have deep relationships with the sorts of customer prospects who buy our products.”

“We have been following Beam Global for several years and have been testing the markets in Spain, Portugal and the Caribbean to assess the opportunity for their patented products. Rapid deployment, scalability, reliability, and low total cost of ownership are extremely important attributes for EV charging and energy security infrastructure. Beam provides a broad set of solutions for these challenges, and we are looking forward to delivering these benefits to our existing and prospective customers,” said Armando Salvador, Vice President and General Manager of Geci Group. “During our due diligence we visited Beam’s factories in the United States and Serbia and observed the products operating in the field. We are confident that Beam’s capabilities will play an important role in the electrification of transportation and delivery of clean and secure supplies of electricity in the markets we cover. We look forward to growing together, targeting these very large opportunities.”