Beam Global Granted European Patent for Thermal Management Technology that Makes Lithium-ion Batteries Safer

SAN DIEGO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, has been granted another new patent by the European Patent Office that covers 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.

The European Patent Office granted European Patent No. EP 3 596 774 B1 for Beam Global’s smart battery management system (BMS) that monitors thermal storage capacity of Beam Global’s proprietary phase change composite (PCC™) material and automatically adjusts the power output of the battery packs and cells as a function of the PCC™ thermal storage capacity to ensure a predetermined safe temperature limit.

“Battery safety is our number one priority at Beam Global. 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 expand internationally.

According to the International Energy Agency, in 2022, lithium nickel manganese cobalt oxide (NMC) remained the dominant battery chemistry with a market share of 60%. Beam Global’s patented battery solutions are designed to make this dominant technology safer. The electrification of transportation continues to grow at a high rate. Worldwide sales of electric cars rose in 2023, with 13.6 million sold, up 31% from 2022 (Reuters article citing Rho Motion). Fully electric or BEVs (battery electric vehicles) accounted for 9.5 million, or 70% of all EVs sold in 2023, while BEV sales in the U.S. and Canada jumped 50% year-over-year. Early 2024 data shows global EV sales up 69% in January 2024 compared to January 2023.

About Beam Global

Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam Global has a deep patent portfolio and is listed on Nasdaq under the symbols BEEM and BEEMW. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly 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 acquisition of Amiga, its expected benefits, 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. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

Media Contact:
Skyya PR
+1 651-335-0585
Press@BeamForAll.com

Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com