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Beam Global and Platinum Group have formed a 50/50 joint venture, Beam Middle East LLC, to sell and manufacture Beam Global's sustainable infrastructure solutions in the Middle East and Africa. The new entity will be headquartered in Abu Dhabi's sustainable urban community, Masdar City. Beam Global will provide proprietary technologies and support, while Platinum Group will use its existing relationships and provide business development professionals.

Beam Global (NASDAQ: BEEM) and Platinum Group have announced the formation of a 50/50 joint venture, Beam Middle East LLC, to sell and manufacture Beam Global's sustainable infrastructure solutions in the Middle East and Africa. The new entity will be headquartered in Abu Dhabi's sustainable urban community, Masdar City. Beam Middle East LLC will leverage Beam Global's proprietary technologies and support, along with Platinum Group's existing relationships and business development professionals to drive growth in the region [1].

The joint venture marks a strategic expansion for Beam Global, which has been recognized as one of the best solar stocks to buy by Wall Street analysts. The company specializes in the development and manufacture of renewably energized infrastructure products and battery solutions. By entering the Middle East and African markets, Beam Global aims to capitalize on the growing demand for sustainable infrastructure solutions [1].

Beam Middle East LLC will focus on selling and manufacturing Beam Global's patented products for transportation electrification, energy storage, energy security, and smart city development. The new entity is expected to contribute significantly to Beam Global's global market presence and revenue growth. The joint venture is a testament to Beam Global's commitment to expanding its operations and creating a global platform for its innovative products [2].

Beam Global's second quarter results for the period ended June 30, 2025, reflect the company's successful execution of its expansion strategy. The company reported a 12% increase in revenue, with 60% of revenues coming from non-government commercial entities and 37% from international operations. The gross margin improved to 20% for the quarter, marking a 4-percentage point increase over the same period in 2024. Operating costs were reduced by $1.2 million, and the company remained debt-free with a $100 million line of credit available and unused [2].

The formation of Beam Middle East LLC is a significant milestone for Beam Global, demonstrating the company's ability to adapt to new markets and capitalize on strategic partnerships. As the company continues to expand its global presence, investors can expect to see further growth and improved financial performance. The joint venture is a clear indication of Beam Global's commitment to sustainable infrastructure solutions and its potential for future success in the Middle East and African markets [2].

References:
[1] https://finance.yahoo.com/news/beam-global-platinum-group-form-040146771.html
[2] https://finance.yahoo.com/news/beam-global-announces-second-quarter-203000080.html