Benzinga | Jan 27, 2022 08:12AM EST

California Governor Newsom Commits $6B To EV Related Initiatives; Beam Global Delivers Record 2021 Growth In Deployments Through The California State Contract

Beam Global, (NASDAQ:BEEM, BEEMW))))), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, announced record 2021 deployment growth of its flagship EV ARC(tm) charging systems ordered through the California Department of General Services (DGS) State Contract #1-18-61-16 which simplifies the procurement process for eligible entities. State and local government agency purchases of EV ARC(tm) sustainable EV charging systems through DGS in 2021 increased by 317% over the prior year.

Increased EV charging infrastructure spending in California, and other states and at the federal level are contributing to a rapid increase in the electrification of transportation. With a record number of new electric vehicles in the light-, medium- and heavy-duty categories coming to market in 2022, the need for rapidly deployed EV charging infrastructure has never been higher. Beam Global achieved record 2021 growth in this market environment and the Company expects this growth trend to continue.

"Significant California spending commitments and our California contract, combined with the even more material federal spending commitments and our GSA contract, lead us to believe that 2022 can be another record year by a wide margin," said Beam Global CEO Desmond Wheatley. "Last year California made the DGS contract vehicle available to other states in the U.S. and we saw over ten percent of those DGS contract purchases come from outside of California. Initiatives for expanding EV charging infrastructure across the U.S. continue to gain momentum. Beam provides the fastest deployed and most scalable infrastructure solution available today and we enable all the major brands of EV charger."

California Governor Gavin Newsom presented a $286.4 billion budget proposal, dubbed the "California Blueprint," this month. The plan suggests spending $22.5 billion to address the burgeoning climate crisis in the state, allocating $6.1 billion to electric vehicle related initiatives. California also became the first state to commit to effectively banning sales of new, internal combustion engine or gas-powered vehicles by 2035. For more information on Beam sustainable EV charging and energy resiliency solutions, contact the BeamTeam@BeamForAll.com.