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Beam Global, a prominent provider of sustainable infrastructure solutions, has announced a significant international expansion through a joint venture with the Platinum Group LLC of the United Arab Emirates (UAE). The new entity, named Beam Middle East LLC, will be strategically positioned to sell and manufacture Beam Global’s innovative products for transportation electrification and energy security across the Middle East and Africa. This partnership combines Beam Global’s patented technology with the Platinum Group’s extensive regional influence and relationships.
Key Highlights
- New Joint Venture: Beam Global and the UAE’s Platinum Group have formed Beam Middle East LLC, a 50/50 joint venture.
- Market Expansion: The partnership targets the rapidly growing markets for sustainable infrastructure in the Middle East and Africa.
- Strategic Roles: Beam Global will provide its patented clean technology solutions, while the Platinum Group will leverage its established government and industry relationships to drive sales and establish local manufacturing.
- Significant Growth Potential: The regional market for sustainable infrastructure is projected to hit $75.6 billion by 2030, with the number of electric vehicles (EVs) expected to reach approximately 1.5 million in the same timeframe.
- Strategic Location: The new company will be headquartered in Abu Dhabi’s Masdar City, a leading sustainable urban community and technology hub.
A Partnership for Regional Growth
This joint venture marks a key step in Beam Global’s strategy of geographic diversification. The collaboration is designed to leverage the unique strengths of each partner. Beam Global offers a portfolio of patented, tried-and-tested clean technology solutions, while the Platinum Group, chaired by His Royal Highness Sheikh Mohammed Sultan Bin Khalifa Al-Nahyan, provides unparalleled access to top decision-makers in the region.
“The Platinum Group is an organization of the highest reputation, influence and relationships in Abu Dhabi and the surrounding region,” said Desmond Wheatley, CEO of Beam Global. “Our technology is ideal for the region’s current and future plans, but this is a region where relationships matter just as much as products and solutions. That is why our joint venture with Platinum is so ideal.”
Dr. Ali Nasser Sultan Al Yahbouni Al Daheri, CEO of Platinum Group, added, “With abundant sunshine and fast-growing adoption of electric vehicles (EVs), renewables, and energy storage, the region is perfect for Beam Global’s solutions.”
Tapping into a Multi-Billion Dollar Market
The market opportunity for Beam Middle East is substantial. Projections indicate the number of EVs in five key Middle Eastern markets will grow from 69,000 in 2024 to 1.5 million by 2030. This explosive growth presents a significant opening for Beam Global’s products.
- EV Charging: Assuming a 5% market share, the potential revenue for the company’s EV ARC™ charging units could reach $516.5 million by 2030.
- eBike Infrastructure: The addressable market for BeamBike™ units could represent a $245.0 million revenue opportunity in the same period.
An in-depth case study for Abu Dhabi further illustrates the potential. The combined estimated revenue opportunities for Beam Global’s various product lines—including streetlight chargers (BeamSpot™), law enforcement fleet electrification (BeamPatrol™), and resort transportation (BeamSkoot™)—exceed $350 million in Abu Dhabi alone.
Venture Structure and Operations
Beam Middle East LLC will be incorporated in Abu Dhabi as a 50/50 joint venture. Under the agreement, Beam Global will license its proprietary technologies and provide comprehensive support. The Platinum Group will manage local sales and business development while establishing regional manufacturing capabilities. The venture’s headquarters in Masdar City places it at the center of the UAE’s strategic drive toward achieving a net-zero future by 2050.
About Beam Global
Beam Global is a clean technology innovator focused on developing and manufacturing sustainable products for EV charging, energy storage, and energy security. The company is headquartered in San Diego, CA, and is listed on Nasdaq under the symbol BEEM. For more information, visit www.BeamForAll.com.
About Platinum Group UAE
The Platinum Group UAE is a multi-billion-dollar conglomerate with diverse interests in key sectors like energy, real estate, finance, and technology. Chaired by a member of the royal family, the group is recognized for its trusted relationships across government and industry in the Emirate of Abu Dhabi.
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