Beam Global and Platinum Group Form Joint Venture in Abu Dhabi to Create Beam Middle East LLC.

Beam Global and Platinum Group have officially formed Beam Middle East LLC, a new entity that will sell and manufacture sustainable infrastructure solutions for transportation electrification, energy storage, energy security, and smart city development across the Middle East and African regions. The joint venture, headquartered in Abu Dhabi, aims to capitalize on the region's growing adoption of electric vehicles, renewables, and energy storage.

Beam Global (Nasdaq: BEEM) and Platinum Group LLC have officially established Beam Middle East LLC, a new entity that will sell and manufacture sustainable infrastructure solutions for transportation electrification, energy storage, energy security, and smart city development across the Middle East and African regions. The joint venture, headquartered in Abu Dhabi, aims to capitalize on the region's growing adoption of electric vehicles (EVs), renewables, and energy storage.

The new entity, Beam Middle East LLC, will be based in Omniah Tower in Masdar City, a pioneering sustainable urban community and world-class business and technology hub. The signing ceremony, attended by key executives from both companies, including Desmond Wheatley, CEO of Beam Global, and Dr. Ali Nasser Sultan Al Yahbouni Al Daheri, CEO of Platinum Group, marked the official commencement of the joint venture [1].

The partnership aims to align with the UAE's goal of achieving net-zero emissions by 2050. Beam Global will contribute its patented sustainable infrastructure technology for transportation electrification and energy security, while Platinum Group is expected to provide regional expertise, connections, and market access. This strategic positioning in Masdar City, a hub for sustainability initiatives, underscores the significance of the venture [1].

The Middle East represents a particularly advantageous market for Beam's solar-powered solutions due to abundant sunshine, accelerating EV adoption, and government-led sustainability initiatives. The UAE's strategic position as a regional business hub could serve as an effective launchpad for further expansion into neighboring markets [1].

By manufacturing locally in addition to sales, Beam positions itself to benefit from regional production efficiencies while potentially satisfying local content requirements that many Middle Eastern governments impose. The planned expansion into African markets represents a secondary growth opportunity with significant long-term potential in rapidly developing economies [1].

The high-profile nature of the signing ceremony, attended by both companies' leadership and regional dignitaries, indicates strong institutional support. This level of formal ceremony and involvement of prominent figures is culturally significant in the region and suggests the partnership has secured important local backing [1].

References:
[1] https://www.stocktitan.net/news/BEEM/beam-global-and-platinum-group-leadership-attend-formal-signing-4vfqjc0ze7m2.html