What changed in this filing

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Item 1. Business

2022-03-31 compared with 2021-03-30 · 430 added, 524 removed, 132 unchanged (88% of the section changed)

Beam is a sustainable clean-technology

Beam is a clean-technology

innovation company based in San Diego, California.

We develop, engineer, manufacture and sell renewably energized infrastructure products

for transportation, outdoor media and energy security.

Our renewably energized products enable vital and highly valuable services in

locations where it is either too expensive, too disruptive or impossible to connect to the utility grid, or where the requirements for

electrical power are so important that grid failures, like blackouts, are intolerable.

We do not compete with EV charging companies;

rather, we enable them through providing infrastructure solutions that replace the time consuming and expensive process of construction

and electrical work required to installed traditional grid-tied EV chargers.

We also do not compete with utilities.

Our products provide

utilities with another tool to deliver reliable and low-cost electricity to EV chargers and, in the case of a grid failure, to first

responders or others, through our integrated emergency power panels.

We develop, engineer, manufacture and sell sustainable, renewable energy infrastructure

products for transportation, energy storage, energy security and outdoor media.

Our renewable energy products enable vital and highly

valuable services in locations where it is either too expensive, too disruptive or impossible to connect to a utility grid, or where the

requirements for electrical power are so important that grid failures, like blackouts, are intolerable.

We do not compete with Electric

Vehicle (EV) charging companies;

rather, we enable such companies by providing infrastructure solutions that replace the time consuming

and expensive process of construction and electrical work which are usually required to install traditional grid-tied EV chargers.

also do not compete with utilities.

Our products provide utilities with another tool to deliver reliable and low-cost electricity to EV

chargers and, in the case of a grid failure, to first responders and others, through our integrated emergency power panels.

storage technologies make commodity battery cells safer, longer lasting and more energy efficient whilst our battery management systems

(BMS) and packaging make batteries safe and usable in a variety of mobility, security and stationary applications.

Our products are rapidly deployed

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and risk prone process with an easy, low total cost of ownership, robust and reliable product.

Beam’s renewably energized

products and proprietary technology solutions target three markets that are experiencing significant growth with annual global spending

in the billions of dollars.

Beam’s renewable energy infrastructure products and proprietary technology solutions target four markets

that are experiencing significant growth with annual global spending in the billions of dollars.

electric vehicle charging infrastructure;

outdoor media advertising;

energy storage;

energy security and disaster preparedness;

media advertising.

The Company focuses on creating

renewably energized, high-quality products for electric vehicle (“EV”) charging, outdoor media and branding, and energy security

that are rapidly deployable and attractively designed.

high-quality renewable energy products for EV charging, energy storage, energy security and outdoor media that are rapidly deployable,

have diverse use cases and are attractively designed.

We believe that there is a clear need for a rapidly deployable and highly scalable

EV charging infrastructure, and that our EV ARC™

and Solar Tree™

products fulfill that requirement.

EV charging infrastructure, and that our EV ARC™ and Solar Tree™ products fulfill that requirement.

We are agnostic as to

the EV charging service equipment (“EVSE”) as we do not sell EV charging, rather we sell products which enable it.

and Solar Tree™

products replace the infrastructure required to support EV chargers, not the chargers themselves.

the EV charging service equipment as we do not sell EV charging, rather we sell products which enable it.

Our EV ARC™ and Solar

Tree™ products replace the infrastructure required to support EV chargers, not the chargers themselves.

Our ability to make commodity

battery cells safer, longer lived and more energy efficient is, we believe, a significant differentiator as we move to an increasingly

electrified and untethered world.

We believe our chief differentiators

our patented, renewably energized products dramatically reduce the cost, time and complexity of the installation and operation of EV charging infrastructure and outdoor media platforms when compared to traditional, utility grid tied alternatives;

our first-to-market advantage with EV charging infrastructure products which are renewably energized, rapidly deployed and require no construction or electrical work on site;

our products’

capability to operate during grid outages and to provide a source of EV charging and emergency power rather than becoming inoperable during times of emergency or other grid interruptions;

our ability to continuously create new and patentable products using our

own proprietary technology and parts, and other commonly available engineered components, creating a further barrier to entry for our

our patented, renewable energy products dramatically reduce the cost, time and complexity of the installation and operation of EV charging infrastructure and outdoor media platforms when compared to traditional, utility grid tied alternatives;

our first-to-market advantage for EV charging infrastructure products that are rapidly deployed and require no construction or electrical work on site;

our proprietary energy storage solutions which proved energy dense,

safe and cost effective battery systems to a variety of applications including EVs, micro mobility, maritime, aviation, drones, stationary

and energy security systems;

our products’ ability to operate during grid outages and to provide a source of EV charging and emergency power during times of emergency or other grid interruptions;

our ability to create new and patentable products using our own proprietary technology and parts, along with other commonly available engineered components, which create a further barrier to entry for our competition.

Products and Technologies

Electric vehicle charging infrastructure

All of our products currently

incorporate the same underlying technology and multiple layers of value, having a built-in renewable energy source in the form of attached

solar panels and/or light wind generator, along with battery storage enabling them to generate and store all of their own electricity

and operate without connecting to the grid.

They are all also capable of connecting to the grid in the event that a customer values that

All of our infrastructure

products currently incorporate the same underlying technology with a built-in renewable energy source in the form of attached solar panels

and/or a light wind generator, along with battery storage which enables our products to generate and store all of their own electricity

while enabling them to operate without connecting to the grid.

Our products are also able to connect to the grid if a customer values

that capability.

We believe that the U.S.

and global utility grids lack sufficient capacity to supply enough electricity to all the new EVs

which are becoming more available to consumers.

This is especially the case when one considers the number of national and state governments

that have announced outright bans on the sale of gasoline and diesel vehicles, such as Norway starting in 2025, with most bans being put

in place no later than 2040.

Even locations where a grid connection is available often lack circuits which are large enough to support

EV charging in any meaningful way.

For example, parking lots might have enough electrical capacity to power lighting but not enough to

power EV charging.

Beam products provide that power without a requirement to increase the electrical grid capacity at that site which

can often be, and we believe will increasingly be, expensive, disruptive, complex and time consuming.

We believe that the need for

rapidly deployed and highly scalable EV charging infrastructure products which do not require construction or electrical work, and which

do not rely on the utility grid for a supply of electricity will become increasingly urgent during the coming months and years.

not aware of any other products which provide a solution for this opportunity as effectively as our patented products which are listed

EV ARC™

(Electric Vehicle Autonomous Renewable

Charger) –

Our most popular product, we believe this patented product is the world’s first and only

transportable, solar powered EV charger on the market.

The EV ARC™

generates and stores all its own energy and supports

Level I, Level II and DC Fast Charging (requiring 4 interconnected units).

It does not need a grid connection and therefore

needs no trenching, switch gear, or transformer upgrades.

Because there is no foundation, trench or electrical

infrastructure, the EV ARC™

typically does not require a building or any other kind of permit, and it is easily

transportable if a different location is desired.

EV ARC™

products can charge between one and six EVs simultaneously

and a single unit can provide EV charging to as many as 12 parking spaces.

EV ARC™

systems are immune

to grid interruptions such as black-outs or brown-outs which is becoming increasingly important as more transportation relies

on electricity as fuel.

There are no utility bills to pay and, as the number of EVs increase at the host locations, more EV ARC™

units can be added without disruptive planning or permission from the utility.

Current grid-tied EV chargers are often placed

in locations where a suitable circuit is most easily accessed and cheapest to install, rather than in the most convenient and

desirable locations for EV drivers to charge their EVs.

EV ARC™

systems do not need to be connected to the grid and as such, can

be placed anywhere, making them a rapidly deployable and highly scalable EV charging infrastructure solutions.

In 2019, we began deploying

an upgraded version of our EV ARC™, the EV ARC™

2020, which provides all of the features of the original EV ARC™

addition to elevating the electronics under the solar canopy to make the unit flood-proof up to nine and a half feet.

2019, we deployed our first EV ARC™

DC Fast Charging units that provide a 50kW DC fast charge which

provides up to 1,100 miles per day to one or more electric vehicles.

We are also working with a partner to develop inductive

charging as a feature to offer to our customers.

A patent has been filed for our EV ARC™

system equipped with this technology.

Because EV ARC™

systems are highly

visible and, it has been independently represented to us, very attractive, we believe that they are an ideal platform for sponsored deployments

wherein networks of EV ARC™

systems are deployed and owned by us and monetized through sponsorship and naming-rights agreements

with corporate sponsors who are eager to have their brands associated with the “Driving on Sunshine”

also create significant reductions in greenhouse gas and CO2 emissions which, we believe, can be used as a further inducement to encourage

corporations to sponsor the networks as they might benefit from the carbon offsets generated by a network of EV ARC™

SolarTree®

Products –

This patented product is

used for larger scale solar powered EV charging applications.

We believe our Solar Tree®

product to be the only single column,

sun tracking, solar support structure with integrated energy storage, EV charging and media platforms available today.

makes Solar Tree®

systems ideal for charging electric buses, electric heavy-duty vehicles, electric agricultural equipment,

public transportation and increasing electric vehicle options in the construction industry.

In 2020, we launched our new

generation of Solar Tree®

DCFC products with on-board battery storage that do not require a connection to the utility grid

(though grid connection capability is available).

As a result, they can be rapidly deployed and enable EV charging in locations

where it would otherwise be impossible or economically infeasible, such as rest areas, park and ride locations, construction sites,

or any location with insufficient grid connectivity.

and global utility grids lack sufficient capacity to supply enough electricity to all the new

EVs and other electrical devices which are becoming increasingly available to consumers, especially considering the number of national

and state governments that have announced future bans on the sale of gasoline and diesel vehicles, such as Norway starting in 2025, and

Germany starting in 2030, with most bans being put in place no later than 2040.

Even locations with a grid connection often lack circuits

which are large enough to support EV charging in any meaningful way.

For example, parking lots might have enough electrical capacity to

power lighting but not enough to power EV charging.

Beam products provide that power without a requirement to increase the electrical

grid capacity at a site which can often be, and we believe will increasingly be, expensive, disruptive, complex and time consuming.

We believe that there will

be an increasing demand and need for rapidly deployed and highly scalable EV charging infrastructure products which do not require construction

or electrical work, and which do not rely on the utility grid for a supply of electricity.

We are not aware of any other products which

provide a similar solution for this need as effectively as our patented products which are listed below:

EV ARC™ (Electric Vehicle Autonomous Renewable Charger) – Our most popular product, we believe this patented product is the world’s first and only transportable, solar powered EV charger on the market.

The EV ARC™ generates and stores all its own energy and supports Level I, Level II and DC Fast Charging (requiring 4 interconnected units).

The electronics are elevated under the solar canopy which makes the unit flood-proof up to nine and a half feet of water.

It does not need a grid connection and therefore needs no trenching, switch gear, or transformer upgrades.

Because there is no foundation, trench or electrical infrastructure, the EV ARC™ typically does not require a building or any other kind of permit, and it is easily transportable if a different location is desired.

EV ARC™ products can charge between one and six EVs simultaneously and a single unit can provide EV charging to as many as 12 parking spaces.

Because the EV ARC™ systems are

solar powered, they are not disrupted during grid interruptions such as black-outs or brown-outs which is becoming increasingly important

as more transportation relies on electricity for fuel.

There are no utility bills to pay and, as the number of EVs increase at a host

location, more EV ARC™ units can be added without disruptive planning or required permits from the utility or local governments.

Current grid-tied EV chargers are often placed in locations where a suitable circuit is most easily accessed and cheapest to install,

rather than in the most convenient and desirable locations for EV drivers.

EV ARC™ systems do not need to be connected to the grid

and as such, can be placed anywhere, making them a rapidly deployable and highly scalable solution to EV charging infrastructure.

In 2019, we deployed our first EV ARC™

DC Fast Charging units that provide a 50kW DC fast charge to electric vehicles which provides a

range of up to 1,100 miles per day .

We also have a patent pending on a version of the EV ARC TM which, when fully developed,

will be able to provide wireless charging to suitably equipped EVs.

Because EV ARC™ systems are highly

visible, we believe that they are an ideal platform for sponsored deployments wherein networks of EV ARC™ systems are deployed and

owned by us and monetized through sponsorship and naming-rights agreements with corporate sponsors who are eager to have their brands

associated with renewable, clean-energy by sponsoring a city-wide sponsorship of free EV charging through what we refer to as the “Driving

on Sunshine” network which we intend to deploy in highly populated areas where we will deliver free EV charging while monetizing

the network of EV ARC TM systems through corporate sponsorship programs.

Our products also create significant reductions in

greenhouse gas and CO2 emissions which, we believe, is a further inducement to encourage corporations to sponsor our network as they may

benefit from the carbon offsets generated by a network of EV ARC™ systems.

SolarTree® Products – This patented product

is used for larger scale solar powered EV charging applications.

We believe our Solar Tree® product to be the only single

column, sun tracking, solar support structure with integrated energy storage, EV charging and media platforms available today.

design of our Solar Tree® systems are ideal for charging electric buses, electric heavy-duty vehicles, electric agricultural

equipment, public transportation and electric vehicles used in the construction industry.

In 2020, we launched our new generation of

Solar Tree® DCFC products with on-board battery storage that do not require a utility grid connection (though grid connection

capability is available).

As a result, these products can be rapidly deployed and enable EV charging in remote locations where it

would otherwise be impossible or economically infeasible, such as rest areas, park and ride locations, construction sites, or any

location with insufficient grid connectivity.

The costs and environmental impact associated with delivering a 50kW or greater

circuit to a remote rest area may be prohibitive, whereas a Solar Tree®

DCFC can be deployed with minimal site

We believe Solar Tree®

with on-board battery storage can provide a highly reliable source of energy to provide emergency power to users such as first responders

during times of emergency or other grid failures.

We also believe that Solar Tree®

products optimized for branding can create visually

stunning platforms for the delivery of a business’

brand message with a less onerous planning and entitlement process than that

circuit to a remote rest area may be prohibitive, whereas a Solar Tree® DCFC can be deployed with minimal site

We believe our Solar Tree® products

with on-board battery storage can provide a highly reliable source of energy to provide emergency power to first responders during times

of emergency or other grid failures.

We also believe that our Solar Tree® products which may be optimized for branding can create

a visually appealing platform for the delivery of a sponsor’s brand with a less onerous planning and entitlement process than that

experienced with traditional signage.

EV-Standard™

Product –

On December 31, 2019,

we received a patent for this product from the United States Patent and Trademark Office.

The EV-Standard™

is currently in

development and will use an existing streetlamp’s foundation and grid connection.

Combining solar, wind-power and the street

lamp grid connection into on board batteries which are stored in the EV Standard’s column, the product will deliver meaningful

Level II EV charging at “curbside”

or “on street”.

The EV-Standard™

design combines a tracking solar

panel, wind energy and utility-generated electricity from the existing streetlamp grid connection in a bank of integrated batteries.

While most traditional streetlamps do not have sufficient electrical capacity to provide meaningful EV charging, the combination of

all three sources of power will do so in a sustainable and economical manner.

Densely populated areas do not have large open parking

lots and will require EV charging solutions where drivers park on the street.

The EV Standard TM can provide that without

having to invest in expensive, disruptive and time-consuming construction or electrical work.

It will continue to charge during grid

failures and greatly reduce the cost of electricity when compared to an all grid-powered solution.

We believe that in some instances

EV charging might be deployed at every five lamp standards or even greater density.

We believe the patented EV Standard™

creates a significant additional opportunity for product sales and revenue generation.

UAV ARC™

drone charging product –

November 24, 2020, we received a patent for this product from the United States Patent and Trademark Office.

EV-Standard™ Product – On December 31, 2019, we were issued a patent for this product from the United States Patent and Trademark Office.

The EV-Standard™ is currently in development and will use an existing streetlamp’s foundation and grid connection.

Combining solar, wind-power and the streetlamp grid connection into on board batteries which are stored in the EV Standard’s column, the product will deliver meaningful Level II EV charging at “curbside” or “on street”.

The EV-Standard™ design combines a tracking solar panel, wind energy and utility-generated electricity from the existing streetlamp grid connection in a bank of integrated batteries.

While most traditional streetlamps do not have sufficient electrical capacity to provide meaningful EV charging, the combination of all three sources of power will do so in a sustainable and economical manner.

Densely populated areas do not have large open parking lots and will require EV charging solutions where drivers park on the street.

The EV Standard TM can provide that without having to invest in expensive, disruptive and time-consuming construction or electrical work.

This product will continue to charge during grid failures and greatly reduces the cost of electricity when compared to an all grid-powered solution.

We believe that in some instances EV charging may be deployed at every five lamp standards or even greater density.

We believe our patented EV Standard™ product, when developed, will create a significant additional opportunity for product sales and revenue generation.

UAV ARC™ drone charging product – On November 24, 2020, we were issued a patent for this product from the United States Patent and Trademark Office.

This product is currently in development.

The UAV ARC™

network is a rapidly deployable, highly scalable, range extending drone

recharging product which forms a network intended to provide a range-extending source of battery recharging for drones that would

otherwise be limited by range or payload restrictions.

UAV ARC™

is also intended to exchange data with the drone on, for

example, its state of health.

This and other information will be transmitted to Beam and monetized through a variety of business

models such as making it available to the operator of the drone fleet.

Beam is considering business models that might include a

subscription based model for fuel and data.

The ability to recharge on a network of UAV ARC™

products deployed on rooftops in

built up areas, undeveloped regions or at sea (marinized version) should dramatically increase the potential range and utility of

Each UAV ARC™

unit generates and stores all its power from renewable sources so drones will receive clean renewable

electricity with no cost-per-unit of energy.

The units are completely independent from the power grid, allowing them to provide

charging during grid outages and in remote locations.

UAV ARC™

will be deployed without the requirement for site activities

such as construction or electrical work.

Outdoor Media Advertising

As the value of traditional

advertising media such as television, radio, and print diminishes, advertisers in the United States and abroad are looking for

new outlets to capture the attention of consumers.

Industry experts believe that there will be significant growth in spending

on outdoor advertising platforms particularly when mounted on street furniture.

We believe the digital out of home industry (“DOOH”)

is enjoying a period of rapid growth and may continue to do so for the foreseeable future.

The Company believes there is opportunity

in the outdoor advertising space to place outdoor content on Beam’s infrastructure products and disperse them throughout

One objective is to sell advertising to a company, and the proceeds would then be used to fund the delivery of EV ARC™

systems, which would be placed in visible locations and would display the advertisements.

This is a growing area with companies

such as Google.

Beam’s current main focus in the media space is to sell sponsorship and naming rights to networks of EV

systems deployed across major cities, using a similar model to the Citibike program in New York City.

In 2012, Citigroup

paid $41 million for five years of naming rights on New York’s bike sharing program.

Citibank extended the naming rights

agreement for $70 million to cover the period from 2019 to 2024.

Beam intends to replicate this model with the Driving on

Sunshine network.

Because EV ARC™

systems are highly visible and, it has been independently represented to us, very attractive,

we believe that they are an ideal platform for sponsored deployments wherein networks of EV ARC™

systems are deployed and

owned by us and monetized through sponsorship and naming-rights agreements with corporate sponsors who are eager to have their

brands associated with the “Driving on Sunshine”

Our products also create significant reductions in greenhouse

gas and CO2 emissions which, we believe, can be used as a further inducement to encourage corporations to sponsor the networks

as they might benefit from the carbon offsets generated by a network of EV ARC™

We intend to offer five-year sponsorship

We believe that the EV ARC™

will provide 20 years of service (we have had them operating in the field for almost

a decade to date) and as such intend to create a long-term recurring revenue stream from renewing the sponsorships.

that the Driving on Sunshine network will become more valuable as more EVs are purchased and the public perception of free solar

powered driving improves and increases.

In 2020, the Company

entered into a collaboration agreement with the City of San Diego to deploy solar-powered EV charging infrastructure across the city

(Driving on Sunshine network) and is currently working with qualified partners to engage sponsors to take advantage of this naming

rights platform.

The UAV ARC™ is a rapidly deployable, highly scalable, range extending drone recharging product which forms a network intended to provide a range-extending source of battery recharging for drones that would otherwise be limited by range or payload restrictions.

UAV ARC™ also captures various data from the drone, such as, its state of health.

This and other information will be transmitted to Beam and potentially can be monetized through a variety of business models such as making such data available to the operator of the drone fleet.

Beam is considering business models, including a subscription-based model for fuel and data.

The ability to recharge on a network of UAV ARC™ products deployed on rooftops in built up areas, undeveloped regions or at sea (marinized version) should dramatically increase the potential range and utility of UAVs.

Each UAV ARC™ unit generates and stores all its power from renewable sources so drones will receive clean renewable electricity with no cost-per-unit of energy.

The units are completely independent from the power grid, allowing them to provide charging during grid outages and in remote locations.

UAV ARC™ will be deployed without the requirement for construction or electrical work.

Energy Storage

– The global lithium-ion battery market size

is projected to grow from USD 41.1 billion in 2021 to USD 116.6 billion by 2030 ;

it is expected to grow at a CAGR of 12.3% from 2021 to 2030 according to MarketsandMarkets Analysis.

We are living in an

increasingly electrified world and more of the devices we rely on are no longer connected to a wall socket or any kind of utility

This untethering requires energy storage to be more energy dense and packaged in increasingly smaller and lighter

Physics dictates that the storage and release of electrical energy will create a thermal event.

In extreme cases this has

led to some well publicized fires.

Our energy storage business unit creates high

performance energy storage solutions used in electric vehicles, micro mobility, aviation, robotics, stationary storage and maritime

applications.

We believe that we are unique in the EV charging industry in that we have our own proprietary energy storage

Our proprietary and patented passive thermal management, modular platform architecture, and scalable battery management

systems (BMS), enhance safety and performance while extending battery life and reducing lifetime stored energy costs.

safe, scalable and high-powered energy storage solutions which have enabled electrified applications in many formats for Fortune 100

companies in the U.S and Internationally.

Energy Security and Disaster Preparedness

Power outages cost the United

States up to 200 billion per year according to the Department of Energy.

Our renewably-energized products are fully sustainable and include

battery energy storage that can dispatch power during times of grid or hydrocarbon fueled generator failure or during public safety power

shutoff (PSPS) in certain jurisdictions.

Our chief area of focus in energy security is to ensure that there is EV recharging infrastructure

States up to $200 billion per year according to the United States Department of Energy.

Our products are fully sustainable and include

battery energy storage that can be used during times of grid or hydrocarbon fueled generator failure or during public safety power shutoff

(PSPS) as may be required in certain jurisdictions.

Our primary focus in energy security is to ensure access to EV recharging infrastructure

during grid failures, such as blackouts.

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California has also been susceptible to public safety power shutoffs (PSPS) to prevent fires during high wind events.

have been kinetic and cyber attacks on the grid and the U.S.

been kinetic and cyber attacks on the grid and the U.S.

government has evidence of intrusions by nefarious nation state actors.

of these events constitute significant vulnerabilities which are expensive, disruptive, inconvenient, and dangerous today.

As we electrify

our fleets, they will become catastrophic.

has a Strategic Petroleum Reserve (SPR) to ensure that we never run out of gasoline

and diesel but there is no strategic electric reserve.

In fact, many markets are operating at capacity during peak events.

Beam’s products provide

a hedge against grid failures because they are invulnerable to the centralized nature and other aspects of the utility infrastructure.

Locally generated and stored electricity of the sort delivered by EV ARC™

and Solar Tree®

provides a highly robust and secure

source of power to EVs of every sort.

We are engaged with government officials at every level to increase awareness of our products and

the benefits they can bring to U.S.

energy security.

these events constitute significant vulnerabilities which are expensive, disruptive, inconvenient, and dangerous.

As we electrify our

transportation fleets, these events may become catastrophic.

has a Strategic Petroleum Reserve (SPR) to ensure that it never

runs out of gasoline and diesel, but there is no strategic electric reserve.

In fact, many markets are operating at capacity during peak

Beam’s products provide

a hedge against grid failures.

Our EV ARC™ and Solar Tree® provide locally generated and stored electricity and are a highly

robust and secure source of power to EVs.

We are engaged with government officials at every level to increase awareness of our products

and the benefits they can bring to energy security.

We are increasingly hearing suggestions that 25% of all EV charging infrastructure

should be independent of the centralized grid.

We believe that our products are uniquely positioned to provide this sort of solution and

our contracts with states like California and Florida, cities like New York, and the Federal government through our General Services Administration

(GSA) Multiple Award Schedule Contract should ideally position us to take advantage of what we believe will be a significant increase

for the requirements of robust and sustainable EV charging infrastructure.

The Biden administration has stressed increased commitment

We believe that our products are uniquely positioned to fulfill this need.

contracts with California, Florida, New York City, and the Federal government through our General Services Administration (GSA) Multiple

Award Schedule Contract should ideally position us to take advantage of what we believe will be a significant increase for the requirements

of robust and sustainable EV charging infrastructure.

The Biden administration has stressed increased commitment to:

American made products

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Transportation infrastructure

We believe that our products are ideally suited

to fulfill all of these requirements.

We believe that our products

are ideally suited to fulfill all of these requirements.

Outdoor Media Advertising

As the value of traditional

advertising media such as television, radio, and print diminish, advertisers in the United States and abroad are looking for new outlets

to capture the attention of consumers.

The Company believes there is opportunity in the outdoor advertising space to place outdoor content

on Beam’s infrastructure products.

One objective is to sell advertising space on our products to a company, with the proceeds being

used to fund the delivery of EV ARC™ systems.

Beam’s current focus in the media space is selling sponsorship and naming rights

to networks of EV ARC™ systems deployed across major cities, using a similar model to the Citibike program in New York City.

2012, Citigroup Inc.

paid $41 million for five years of naming rights on New York’s bike sharing program.

Citibank extended the

naming rights agreement for $70 million to cover the period from 2019 to 2024.

Beam intends to replicate this model with our Driving

on Sunshine network.

Because EV ARC™ systems are highly visible, we believe that they are an ideal platform for sponsored deployments

wherein networks of EV ARC™ systems are deployed and owned by us and monetized through sponsorship and naming-rights agreements

with corporate sponsors who are eager to have their brands associated with the “Driving on Sunshine” network.

also create significant reductions in greenhouse gas and CO2 emissions which, we believe, can be used as a further inducement to encourage

corporations to sponsor the networks as they may benefit from the carbon offsets generated by a network of EV ARC™ systems.

that the EV ARC™ will provide 20 years of service (we have had them operating in the field for almost a decade to date) and will

create a long-term recurring revenue stream from sponsorships.

We believe that our Driving on Sunshine network will become more valuable

as more EVs are purchased and used by the public.

In 2020, the Company entered

into a collaboration agreement with the City of San Diego to deploy our solar-powered EV charging infrastructure products across San Diego

(Driving on Sunshine network) and we have engaged a consultant to identify potential sponsors to take advantage of this naming rights

Target Markets

Beam’s markets consist

of several broad segments:

state, municipal and federal government agencies, corporations, energy utility companies, universities, retail,

hospitality and international markets.

These segments can further be broken down into increasingly granular segments as different market

opportunities are identified.

Beam’s largest market is currently Municipal.

Beam’s largest

customers include the State of California, which is a conglomeration of California state agencies and municipalities, the City of

New York, and Electrify America, LLC a subsidiary of Volkswagen Group of America.

The most attractive markets for Beam have been New

York and California, but we are now seeing growing opportunities throughout the U.S.

Beam’s target markets

consist of several broad segments:

state, municipal and federal governments and agencies, auto manufacturers, corporations, energy utility

companies, universities, retail, hospitality and international markets.

These segments can further be broken down into increasingly granular

segments as different market opportunities are identified.

Beam’s largest customers

include the U.S.

Federal Government, including the United States Marine Corps, and many other federal agencies, the State of California,

which is a conglomeration of California state agencies and municipalities, and the City of New York.

The most attractive markets for Beam

have been New York and California, but we are now seeing growing opportunities throughout the U.S.

The factors below have been

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Political Factors .

Political statements, mandates and laws supporting and driving policy to reduce carbon emissions through the electrification of transportation.

Political statements, mandates and laws supporting policy to reduce carbon emissions through the electrification of transportation.

State and local governments focusing on the transportation industry and the electrification of fleet vehicles to reduce carbon emissions.

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Regions with good insolation, expensive energy costs, and poor or degraded air quality, and a lack of capacity or expensive upgrade requirements for their utility grid.

These factors have been important

in the early days of EV adoption.

Government tail winds are stronger than ever with many nations and states announcing the outright banning

of gasoline and diesel vehicle sales during the next two decades.

In the U.S., California has announced a ban starting fourteen years

from now in 2035 and the State of Washington has improved upon that with a ban starting in 2030, less than nine years away.

Beam believes

that a perhaps more powerful force is starting to shape the industry;

automotive OEMs are announcing the delivery of electric vehicles

which are much more consistent with models which have traditionally been popular with U.S.

Ford has announced an all-electric

F150 pickup truck, available in 2022.

The F150 is the most popular vehicle in the US since 1981 and the top selling pickup truck for forty-two

years in a row.

The electric version will have the same towing and payload capacity but will be able to accelerate for 0 to 60mph in around

three seconds.

GM has announced an electric Hummer which will have 1000HP (compared to the gasoline version with 300HP) and will accelerate

at about the same rate as the F150.

Neither vehicle will need to go to the gas station ever.

Neither vehicle will require anything but

the most basic and minor maintenance.

There will be at least 100 new EV models released in the next 24 months.

Consumer Products.

Auto manufacturers are delivering more diverse and

popular EV models such as Ford’s F150 Lightning, GM’s electric Hummer, Rivian’s RT1, Ford’s E Mustang and Kia’s

Many of these factors have

been important since the early days of EV adoption.

Government tail winds are stronger than ever with many nations and states announcing

the outright banning of gasoline and diesel vehicle sales during the next two decades.

In the U.S., California has announced a ban starting

in 2035 and the State of Washington has a ban starting in 2030, less than eight years away.

In addition, automotive manufacturers have

started production of electric vehicles which are more consistent with traditional car models that have been popular with U.S.

Ford announced an all-electric F150 pickup truck, available in 2022.

Since 1981, the F150 has been the most popular vehicle in the US

and the top selling pickup truck for forty-two years in a row.

The electric version of the F150 will have the same towing and payload

capacity and will be able to accelerate from 0 to 60 mph in under four seconds.

GM has announced an electric Hummer which will have 1000HP

(compared to the gasoline version with 300HP) with a similar acceleration rate as the F150.

A record number of new electric vehicles in

the light-, medium- and heavy-duty categories will be coming to market in 2022.

We believe that the consumer

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Growth Strategy

The electric vehicle

market is expected to grow at a rapid pace.

According to Goldman Sachs, the EV infrastructure market is expected to receive $6

trillion in investments for infrastructure around EVs.

The electric vehicle market

is expected to grow at a rapid pace.

According to Goldman Sachs, the EV infrastructure market is expected to receive $6 trillion in investments.

Bloomberg forecasts 559M EVs on the road by 2040.

In addition, General Motors

recently announced that they aspire to offer only zero-emissions vehicles by 2035.

California’s Governor has also issued

an executive order that by 2035, all new cars and passenger trucks sold in California will be zero-emission vehicles.

Massachusetts

has followed suit and others are expected to follow.

In addition, General Motors has committed to only offer zero-emissions vehicles by 2035.

California’s Governor has also issued an executive order that by 2035, all new cars and passenger trucks sold in California must

be zero-emission vehicles.

Massachusetts and New Jersey have followed suit and others are expected to follow .

We currently operate in three rapidly growing markets:

EV charging infrastructure,

outdoor media advertising and energy security and disaster preparedness.

EV charging infrastructure, outdoor media advertising and energy security and disaster

preparedness.

Our products are being used in 29 U.S.

states, 122 municipalities,

three international countries, and the U.S.

Virgin Islands in the Caribbean.

We believe that our products have a global appeal

and that we are only at a nascent period in the development of our sector.

We believe that our strategic growth plan will enable

us to increase our user base and revenues while leading to increased profitability and includes:

Investment in Government Relations expert services to ensure that decision makers are aware of the value that our made in America products provide

Increase sales and marketing to educate our universe of potential customers.

Continue to expand our geographic footprint and customer base.

Enhance our gross margins by increasing production volumes, improving operating efficiencies and reducing the cost of materials and production.

states, 170 municipalities, three international countries, and the U.S.

Virgin Islands

in the Caribbean.

We believe that our products have a global appeal and that we are only at a very early stage in t he development

of our sector.

We believe that our strategic growth plan will enable us to increase our user base and revenues while increasing profitability.

Our strategic growth plan includes:

Engaging government relations experts to educate decision makers on the value of our “Made in America” products.

Increase marketing efforts to educate potential customers.

Expanding our geographic footprint and customer base.

Increasing our gross margins by increasing production volumes, improving operating efficiencies and reducing the cost of materials and production.

Increase leverage of outsourcing as our manufacturing process scales.

Expand our recurring revenue business.

Educate and communicate information about federal and other government grants, investment tax credits, and other incentives to provide funding opportunities for our customers.

Educate potential customers regarding federal and other government grants, investment tax credits, and other incentives available to our customers.

Capture market share of the electrified personal and public transportation space, which is at a nascent phase.

Continue to expand our Outdoor Media Business unit.

Develop and innovate new products while building a strong IP portfolio.

Continue to develop and innovate new products and building a strong IP portfolio.

Sales and Marketing

Beam utilizes an in-house

sales team and sells through a direct sales and marketing channel, pairing customers with sales specialists (Clean Mobility Experts) to

ensure their needs are met.

The Company hired a new Vice President of Sales and Marketing on January 1, 2020 who currently leads the team.

Beam utilizes a combination

of an in-house sales team and outside consultants and sells through a direct sales and marketing channel, pairing customers with our sales

specialists, or Clean Mobility Experts, to ensure their needs are met.

Our sales process is heavily

focused on educating prospective customers about our product so that they are aware that they have other options, before they select a

traditional grid-tied solution.

As a result, we have begun investing more in marketing materials and videos, as well as a public relations

firm to help us to educate the market.

Beam uses research to identify potential customers, as well as contacts established through trade

show events and in-bound calls.

We also utilize a combination of regional and industry focused campaigns, nurturing campaigns, speaking

opportunities, product demonstrations, press releases and social media (Facebook, Instagram, Twitter, and LinkedIn).

Beam is, we believe,

an industry leader in the sustainable EV charging infrastructure space and our website is used to highlight that together with webinars

and industry news to automate the education of our markets, helping them confidently make informed decisions about the purchase of our

Presentation and execution continues to remain a priority while we keep sales and marketing materials updated to ensure messaging

is on point and consistent with our product offering, customer’s needs and industry standards.

Beam products can have a long

This is a sophisticated sale and often a large capital expense for our customers.

Sales often hinge on bureaucratic processes

and funding approval.

Political mandates do not always equal availability of resources to execute policy into action.

We also utilize

a consultant to support our customers with the federal grant process to identify grants that may be available to reduce the cost of their

Our products are eligible

focused on educating prospective customers about our products.

We have been heavily investing more in marketing materials and videos,

and we have engaged a public relations firm to help us to educate the market.

Beam uses research to identify potential customers, as well

as contacts established through trade show events and in-bound calls.

We also utilize a combination of regional and industry focused campaigns,

nurturing campaigns, speaking opportunities, product demonstrations, press releases and social media (Facebook, Instagram, Twitter, and

Beam is, we believe, an industry leader in the sustainable EV charging infrastructure space, and we use our website and social

media to highlight our innovative products and offerings.

The sale of our products often

have long sales cycles due to the large capital expense and sophisticated nature of our products though we have observed a reduction in

the length of certain sales cycles along with an increase in the number of units ordered recently.

We believe this is attributable to

an increase in awareness and acceptance of our products as well as an increase in the urgency surrounding the deployment of EV charging

infrastructure.

Sales often rely on bureaucratic processes and funding approval which can result in extended sales cycles.

We also support

our customers by identifying grants and the federal grant process to reduce the cost of their purchase.

Our products may be eligible

for various tax and other incentives which can significantly reduce the out-of-pocket expense paid by a customer for our products.

of these sorts of incentives include:

of these incentives include:

Federal Solar Investment Tax Credit (ITC) (Section 48 of the tax code).

This may provide a tax credit,

which is currently at 26% of the amount of your solar energy system purchase.

Rule 179 Depreciation or Bonus Depreciation - allows our customers to accelerate depreciation of their

solar energy system up to 100% of the cost of the system in the first year it is in service.

Code Section 30C, Alternative Fuel Vehicle Refueling Property, may allow a tax credit of 30% of the cost

of the purchase up to $30,000.

The combination of these incentives

can provide significant tax benefit for our customers.

There are often other state, local and utility incentives which can provide further

We believe that the current

administration will continue and perhaps enhance incentives to deploy products such as ours in the coming years.

President Biden has made

several commitments to the funding of clean energy and EV charging infrastructure including the deployment of 500,000 publicly available

EV charging stations on U.S.

We believe that because our products are rapidly deployed, enhance energy security and are made

in America, that we are well positioned to benefit from these, and other, initiatives.

This may provide a tax credit, which is currently at 26% of the amount of a solar energy system purchase.

Rule 179 Depreciation or Bonus Depreciation - allows our customers to accelerate depreciation of their solar energy system up to 100% of the cost of the system in the first year it is in service.

Rule 30 C is a tax credit of up to 30% of the cost of the EVSE

In addition, President Biden

has made several commitments to the funding of clean energy and EV charging at the federal level and we believe the current administration

will continue incentives for products such as ours in the future.

Some of the federal and state funding programs include:

A federal infrastructure bill passed in November 2021 designated $7.5

billion for the deployment of 500,000 EV charging stations across the US, $5.0 billion of which will be made available under the new

National Electric Vehicle Infrastructure (NEVI) Formula Program which is allocated to state transportation departments and an

additional $2.5 billion is available in grant opportunities to help connect rural and marginalized communities to electric vehicles.

The Federal Government released a guidance manual on how NEVI funds

should be spent in the first quarter of 2022.

A picture of Beam Global’s products was used to illustrate the front cover of that

In January 2022, Governor Newsom presented the California Blueprint, which is his budget proposal that includes $6.1 billion for electric vehicle related initiatives.

We believe that because our

products are rapidly deployed, enhance energy security and are made in America, that we are well positioned to benefit from these and

other initiatives.

Major Customer Contracts

In 2020 and 2019, we have

had three major customers, the State of California, the City of New York and Electrify America, LLC that have accounted for a substantial

portion of our revenue.

City of New York Requirement

We entered into a Requirement Contract with the City of New York on April 17, 2017 that extends through April 16, 2021.

We have received 3 purchase orders to date on this contract.

The first was for 36 EV ARCs™

and one ARC Mobility™

all of which were delivered in 2017 and 2018, for a total contract price of $2,416,356.

On September 10, 2018, we received a new $3,300,000

order from the City of New York for 50 EV ARC™

units which we delivered 16 units during 2018 and 34 units in the first half of 2019.

On March 12, 2021, we received a purchase order for two of the new EV ARC™

2020 systems.

New York expressed that they want to test

the new flood proof EV ARC™

model before the current contract expires.

We anticipate that a Request for Proposal will be initiated

by the City of New York in 2021 to provide a new contract, to which, in that event, Beam will respond.

Contract with

the California Department of General Services .

On June 12, 2015, our bid for solicitation was accepted by the California

Department of General Services (the “California Contract”).

The term of the California Contract was initially for one

year with two extension options for one year.

In 2021 and 2020, we had three

major customer contracts, the State of California, the General Services Administration (GSA) Multiple Award Schedule (MAS) and Electrify

America, LLC that accounted for a substantial portion of our revenue.

Contract with the California

Department of General Services .

On June 12, 2015, our bid for solicitation was accepted by the California Department of General

Services (the “California Contract”).

The term of the California Contract was initially for one year with two extension options

for one year.

California elected to exercise both options to extend.

In June 2018, the California

Contract was renewed for up to four more years (two years with two additional one-year options), and its scope was expanded to

include more of our products, including our EV ARC™

DC Fast Charging Electric Vehicle Autonomous Renewable Charger, with

a California estimated value of over $20 million.

In January 2021, the contract was extended through June 2022 and was expanded

to be utilized by agencies across the U.S.

The California Contract permits California state and local government agencies, including

cities, counties, special districts, California State universities, University of California systems, K-12 school districts, and

community colleges, to purchase EV ARCs™, ARC Mobility Trailers, and related accessories from us.

We have sold 86 EV ARCs TM

for a total of $6,089,882 through December 31, 2020, which includes 18 units totaling $1,850,268 in 2020.

In June 2018, the California Contract was renewed for up to four

more years (two years with two additional one-year options), and its scope was expanded to include more of our products, including our

EV ARC™ DC Fast Charging Electric Vehicle Autonomous Renewable Charger, with a California estimated value of over $20 million.

January 2021, the contract was extended through June 2022 and was expanded to be utilized by agencies across the U.S.

The California Contract

permits California state and local government agencies, including cities, counties, special districts, California State universities,

University of California systems, K-12 school districts, and community colleges, to purchase EV ARCs™, ARC Mobility Trailers, and

related accessories from us.

We have sold 161 EV ARCs TM for a total of $11,187,513 through December 31, 2021, which includes

75 units totaling $5,097,631 in 2021.

GSA MAS Contract .

This is a five-year contract effective as of November 1, 2020.

It was awarded by the GSA following an extensive evaluation process.

contract simplifies the federal procurement process and ensures best pricing for our customers.

We sold 23 EV ARCs through this contract

totaling $1,853,374 in 2021.

Electrify America Contract.

In October 2019, Beam responded to a Request for Proposal with Electrify America, a subsidiary of Volkswagen Group of America.

21, 2020, Beam was awarded a $2 million contract for 30 EV ARC units to be deployed in rural areas in central California.

During the year

ended December 31, 2020, we recognized revenues for 29 units totaling $1,833,698 to Electrify America, with one EV ARC™

system remaining

to deploy in the first quarter of 2021.

Beam continues to develop a business relationship with Electrify America.

We do not compete with EV

charging companies or utilities.

In fact, we support the major EV charging product and service providers by factory installing their products

onto ours before shipping for a rapid and construction free deployment at the customer site.

We have deployed ChargePoint, Blink, Enel,

Electrify America and many other quality charging brands.

We also do not compete with utilities who use our product as another tool to

provide electricity, primarily for EV charging to their constituency.

We currently have six utility customers and anticipate that that

number will grow as more utilities become engaged in EV charging and also in deploying distributed generation resources to enhance grid

We are not aware of other companies that provide an infrastructure product similar to ours, utilizing solar energy to power

EV charging in a rapidly deployed and highly scalable construction-free format.

We have responded to several competitively bid contracts

issued by, for example, New York City, California, Florida and Massachusetts where we were the only responding company with products that

met the specifications cited in the RFP.

We believe that if there were other competing products that we would have become aware of them

during those processes.

We are, however, subject to competition from a number of companies which are involved in the design, construction

and installation of fixed grid-connected EV charging stations that depend on the utility grid for a source of power, and on the construction

and civil and electrical engineering services for the installation of traditional infrastructure.

Our challenge is to market our products

to ensure that potential customers are aware of our product offering.

Competition in the

solar renewable energy and EV charging industries is intense, and competition is fragmented among a wide variety of entities.

Companies such as Schneider, Eaton, Enel X, and Bosch manufacture EV charging units but do not offer charging services.

are many companies which offer installation services for the EV charging market.

They are typically from electrical and general

contracting backgrounds as well as some larger project management firms such as Black and Veatch, Bechtel, CH2M Hill and AECOM.

21, 2020, Beam was awarded a contract for 30 EV ARC units to be deployed in rural areas in central California.

During the years ended

December 31, 2021 and 2020, we recognized revenues totaling $1,833,698 for this contract.

Beam continues to develop a business relationship

with Electrify America.

We do not compete with

EV charging companies or utilities.

In fact, we support the major EV charging product and service providers by factory integrating

installing their products into ours prior to deployment.

We have deployed ChargePoint, Blink, Enel, Electrify America and many other

quality charging brands.

We also do not compete with utilities who use our product as another tool to provide electricity, primarily

for EV charging to their customers.

We currently have six utility customers and anticipate that that number will grow as more

utilities become engaged in EV charging and also in deploying distributed generation resources to enhance grid stability.

aware of other companies that provide an infrastructure product similar to ours, utilizing solar energy to power EV charging in a

rapidly deployed and highly scalable construction-free format.

We have responded to several competitively bid contracts issued by,

for example, New York City, California, Florida and Massachusetts where we were the only responding company with products that met

the specifications cited in the Request For Proposal.

We do compete with a number of companies which are involved in the

design, construction and installation of fixed grid-connected EV charging stations that depend on the utility grid for a source of

power, and on the construction and civil and electrical engineering services for the installation of traditional infrastructure.

challenge is to market our products to ensure that potential customers are aware of our product offering.

Competition in the solar renewable

energy and EV charging industries is intense, and competition is fragmented among a wide variety of entities.

Companies such as Schneider,

Eaton, Enel X, and Bosch manufacture EV charging units but do not offer charging services.

There are many companies which offer installation

services for the EV charging market.

They are typically electrical and general contracting companies as well as some larger project management

firms such as Black and Veatch, Bechtel, CH2M Hill and AECOM.

Companies such as ChargePoint (NYSE:

CHPT) and Blink (NASDAQ:

BLNK) offer EV charging services and hardware but not, typically,

installation.

Our EV ARC™

units will incorporate whatever charger the customer wants, so in most cases, we are not competing with

the charger company, but rather creating opportunities for them which they might not otherwise have had.

EV charging services and hardware but not, typically, installation.

Our EV ARC™ units incorporate whatever charger the customer

wants, so in most cases, we are not competing with the charger company, but rather creating opportunities for them which they might not

otherwise have had.

offers an off-grid charging solution using solar power to charge batteries, but their product is not transportable, does not have solar

tracking, does not fit in a standard parking space and requires permitting, construction and electrical work for its installation.

SNPR) is a San

Francisco based EV charging company which derives revenue through the sale of advertising.

Volta gives charging away for free.

deployed in shopping malls and other similar locations.

While they do not have solar-powered, rapidly deployed infrastructure solutions

and they do require construction, electrical work and a utility bill, their business model of using media revenue instead of EV charging

fees most closely matches our media business model.

San Francisco based EV charging company which derives revenue through the sale of advertising.

Volta provides some free charging for

EVs and are deployed in shopping malls and other similar locations.

While they do not have solar-powered, rapidly deployed

infrastructure solutions, their business model of using media revenue instead of EV charging fees most closely matches our media

business model.

Many solar companies are now

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which is providing free or discounted EV charging infrastructure is Electrify America, the EV charging provider is required to spend approximately

$2B on EV charging infrastructure ($800M in California) to satisfy the requirements of a settlement with the U.S.

America is a customer of Beam and has used our products to assist in the deployment of their EV charging network.

$2 billion on EV charging infrastructure ($800 million in California) to satisfy the requirements of a settlement with the U.S.

Electrify America is a customer of Beam and has used our products to assist in the deployment of their EV charging network.

We also face competition,

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As a result, they can offer the installation,

or “make readies”

of electrical circuits and other civil infrastructure, for a lower price or in some instances for free,

or “make readies” of electrical circuits and other civil infrastructure, for a lower price or in some instances for free,

to certain customers.

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utilities as long-term competition and instead view them as a significant opportunity as they increasingly add off grid solutions to their

Where energy security

is concerned, we view the competition from companies that produce generators and combined solar and storage solutions to be most

relevant to our business.

Companies in this space range from small startup companies like Green Charge Networks to behemoths like

General Electric and NEC.

Siemens, Eaton, Schneider and other large electrical component companies are all also working on combined

renewables/storage product solutions.

We are in contact with all these companies and have not observed that any of them have a

product which provides all the same value and differentiation that our EV ARC™

product delivers because our EV ARC™

systems are transportable, rapidly deployed and offer multiple layers of value beyond EV charging and emergency power.

during 2020, our EV ARC™

products were repurposed by our customers from customer locations to Covid-19 Emergency Pop-Up Centers

to provide remote emergency power and EV charging.

Where energy security is concerned,

we view the competition from companies that produce generators and combined solar and storage solutions.

Companies in this space range

from small startup companies like Green Charge Networks to behemoths like General Electric and NEC.

Siemens, Eaton, Schneider and other

large electrical component companies are all also working on combined renewables/storage product solutions.

We are in contact with all

these companies and have not observed that any of them have a product which provides all the same value and differentiation that our EV

ARC™ product delivers because our EV ARC™ systems are transportable, rapidly deployed and offer multiple layers of value beyond

EV charging and emergency power.

For example, during 2020, our EV ARC™ products were repurposed by our customers from customer locations

to Covid-19 Emergency Pop-Up Centers to provide remote emergency power and EV charging.

Our competitive advantage

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Rapid deployability and scalability of our products.

Our products offer

a turnkey product solution that is manufactured in our facility and delivered to a customer and deployed in minutes.

This competes

with an entire ecosystem involving the design, engineering, permitting and constructing of civil projects which requires engaging

a company, or group of companies, including architects, civil engineers, electrical engineers, zoning specialists, consultants,

general contractors, electrical contractors, and EVSE vendors.

Our products offer a turnkey product solution that is manufactured in our facility and delivered to a customer and deployed in minutes.

This compares with requiring an entire ecosystem involving the design, engineering, permitting and constructing of civil projects which requires engaging a company, or group of companies, including architects, civil engineers, electrical engineers, zoning specialists, consultants, general contractors, electrical contractors, and EVSE vendors.

These grid-tied projects can take six months to two years to complete.

Lower total cost of ownership.

Beam’s products are powered by renewable sources.

As a result, there is no charge for on-going energy to power vehicles because our products do not generate a utility bill.

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During prolonged grid failures, those systems fail while Beam products continue to operate.

Because a grid connection is not required, Beam’s EV ARC™

can be located anywhere, including remote locations that are hard to connect to a grid.

Most grid-tied chargers are deployed in

locations where the utility grid is easy and inexpensive to connect to.

Many EV drivers have experienced this when they find charging

units behind supermarkets next to dumpsters.

This is because the utility grid interconnection exists at the back of the store

and as such that is the cheapest place to deploy.

We believe that early adopters of EVs are more willing to make these sorts of

concessions than mainstream consumers will be.

We believe that in the future two impacts will drive the installation of EV chargers

in more expensive and complicated locations where grid connection is concerned.

First, the locations close to grid connections

will be used up and second mainstream consumers will not be content with parking and charging in less desirable locations.

of these impacts will drive the deployment of EV chargers in front of stores and other locations where people want to park.

sorts of locations typically do not have readily available grid connections so the cost and complexity to bring the grid to the

charger will increase dramatically.

The cost and complexity to deploy our products will not increase and in fact, we believe that,

like any other manufacturing company, our costs will continue to decrease while our efficiency and deployment velocity increases.

Most grid-tied chargers are deployed in locations

where the utility grid is easy and inexpensive to connect to.

Many EV drivers have experienced this when they find charging units behind

supermarkets next to dumpsters.

This is because the utility grid interconnection exists at the back of the store and as such that is the

cheapest place to deploy.

We believe that early adopters of EVs are more willing to make these sorts of concessions than mainstream consumers

We believe that in the future two impacts will drive the installation of EV chargers in more expensive and complicated locations

where grid connection is concerned.

First, the locations close to grid connections will be used first and second mainstream consumers

will not be content with parking and charging in less convenient locations.

Both impacts will drive the deployment of EV chargers

in front of stores and other locations where people want to park.

Those locations typically do not have readily available grid connections

so the cost and complexity to bring the grid to the charger will increase dramatically.

The cost and complexity to deploy our products

will not increase and in fact, we believe that, like any other manufacturing company, our costs will decrease while our efficiency and

deployment velocity increases.

Environmentally sound product using clean energy.

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The electricity our products provide is 100% emissions free.

Furthermore, the construction activities required to dig trenches,

pour concrete and perform the other tasks related to the construction and electrical installation of a grid-tied charger are environmentally

impactful and reduce the environmental benefits of EVs.

Our products are deployed with minimal or no disruption or environmental

impact making them a cleaner choice.

Furthermore, the construction activities required to dig trenches, pour concrete and perform the other tasks related to the construction and electrical installation of a grid-tied charger are environmentally impactful and reduce the environmental benefits of EVs.

Our products are deployed with minimal or no disruption or environmental impact making them a cleaner choice.

Beam products can be relocated which gives the customer the flexibility to move it if a job site changes or business needs change.

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The transportability of our products means that a customer can remove them when a lease matures whereas grid-tied solutions become tenant improvements and a sunk investment.

BeamTrak™, our patented

solar tracking solution which causes the solar array to follow the sun generating up to 25 percent more electricity than a fixed

array, is a significant advantage for our products over any similar offering.

Our unique ability to deliver 25% more driving miles

to an EV from an off-grid solar installation is, we believe, a significant differentiator.

Our ability to continuously improve our product’s energy production

when reducing costs means that while the grid-tied competition is stuck at a theoretical maximum amount of energy that can be delivered

at a given location, our products have continued to deliver more power without costing more.

BeamTrak™, our patented solar tracking solution which causes the solar array to follow the sun generating up to 25 percent more electricity than a fixed array, is a significant advantage for our products over any similar offering.

Our unique ability to deliver 25% more driving miles to an EV from an off-grid solar installation is, we believe, a significant differentiator.

Our ability to continuously improve our product’s energy production while reducing costs means that while the grid-tied competition is stuck at a theoretical maximum amount of energy that can be delivered at a given location, our products have continued to deliver more power without costing more.

Beam offers a product that delivers DC fast charging solely from solar generation, which we have not seen in the market to date.

Manufacturing

We are headquartered

in San Diego, California in a leased building of approximately 53,000 square feet professionally equipped to handle the significant

growth possibilities we believe are in front of us.

The facility houses our corporate operations, sales, design, engineering and

product manufacturing.

We are currently staffed for one shift, five days a week and believe that at that level we can produce

approximately 260 EV ARC™

units per year.

We also believe that with an expansion of human resources, capital investment,

increased engagement of contract manufacturing and operating 3 shifts, seven days a week we could produce approximately 2,200

EV ARC™

units a year from our current facility.

We are headquartered in San

Diego, California in a leased building of approximately 53,000 square feet professionally equipped to handle the significant growth possibilities

we believe are in front of us.

The facility houses our corporate operations, sales, design, engineering and product manufacturing.

are currently staffed for one shift, five days a week and believe that at that level we can produce approximately 260 EV ARC™ units

We also believe that with an expansion of human resources, capital investment, increased engagement of contract manufacturing

and operating 3 shifts, seven days a week we could produce approximately 4,000 EV ARC™ units a year from our current facility.

a result of our recent acquisition, we now also lease an 18,000 sq/ft facility in Broadview Il where we produce our energy storage products

for our own products and also for a variety of other customers who need energy storage solutions.

All of our products are currently

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Many of our suppliers are local which allows for shorter lead times and lower transportation costs.

The EV ARC™

product family requires

The EV ARC™ product family requires

no field installation work and is typically delivered to the customer site by us or by a third-party transportation company for a fee.

We sell our Solar Tree®

products as an engineered kit of parts to be installed by third parties employed by the buyer of the Solar

We sell our Solar Tree® products as an engineered kit of parts to be installed by third parties employed by the buyer of the Solar

We continually endeavor to

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maintaining the high quality for which we strive.

As unit sales continue to increase, we will be able to spread our fixed overhead costs

over more units, reducing the cost per unit and management believes that gross profits can be realized and maintained.

As unit sales continue to increase, we anticipate that we will be able to spread our

fixed overhead costs over more units, reducing the cost per unit.

Customer Concentration

During 2020, the Company had

one customer, Electrify America, that represented 30% of our revenue.

During 2021, 55% of our revenue

was attributable to the state agencies and municipalities in the State of California.

Our backlog at December 31,

2020 was $1.1 million.

Reported backlog represents firm purchase orders or contracts received by customers for deliveries scheduled in

2021 was $4.1 million, of which $3.9 million is deliverable within twelve months.

Reported backlog represents firm purchase orders or

contracts received by customers for deliveries scheduled in the future.

Government Regulation

Businesses in general are

subject to extensive regulation at the federal, state, and local level.

We are subject to extensive government regulation of employment,

health, safety, working conditions, labor relations, and the environment in the course of the conduct of our business.

In order for our

customers to enable the installation of some of our products, they can be required to obtain permits from local and other governmental

In the case of our grid-tied products, they must comply with the applicable rules and regulations of the relevant state public

utility agencies.

In order for our customers to take advantage of available tax and other governmental incentives associated with the

installation of solar power production facilities, and the production and use or sale of solar power, they must comply with the applicable

regulatory terms and conditions.

Changes or new government regulation may have a material adverse impact on our business, operating results,

and financial condition.

Businesses in general are subject to extensive regulation at the federal, state, and local level.

We are subject

to extensive government regulation relating to employment, health, safety, working conditions, labor relations, and the environment in

the course of the conduct of our business.

In order for our customers to enable the installation of some of our products, they can be

required to obtain permits from local and other governmental agencies.

In the case of our grid-tied products, they must comply with the

applicable rules and regulations of the relevant state public utility agencies.

In order for our customers to take advantage of available

tax and other governmental incentives associated with the installation of solar power production facilities, and the production and use

or sale of solar power, they must comply with the applicable regulatory terms and conditions.

Changes to new government regulations may

have a material adverse impact on our business, operating results, and financial condition.

As of the date

of this report, we have 29 employees, and 7 additional temporary employees.

of this report, we have 86 employees, of which 8 are temporary employees.

Most of the temporary employees are retained through a temporary

3 unchanged sentences

None of our employees are represented by a labor union or collective bargaining agreement.

Our operations

are generally not materially affected by seasonality.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business