Energy, Automobile, EV, Renewable News | Beam Global Acquires AllCell Technologies

Beam Global Acquires AllCell Technologies

February 23, 2022

Beam Global,, the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, today announced that it has entered into a definitive asset purchase agreement to acquire AllCell Technologies, a leader in energy storage solutions and technologies, in an all stock transaction. The transaction is expected to close on March 1^st, subject to customary closing conditions.

Management expects the acquisition of AllCell to impact Beam Global by:

Increasing and diversifying revenues and gross profits
Significantly reducing cost of goods sold (COGS)
Enhancing foundational intellectual property portfolio
Securing Beam Global’s vital battery supply chain
Accelerating product development cycles
Combining customer facing roles and outreach
Adding new customer segments
Increasing barriers to entry for future competition
Enhancing Beam’s position as a leader in the green economy

AllCell’s highly flexible battery platform architecture, used in Beam’s products for ten years, is ideally suited for applications where energy density, safety and bespoke enclosures require high power in small spaces. Drones, submersibles, recreational products and a host of micro mobility and electric vehicle products are already benefiting from AllCell’s highly differentiated products. Beam’s patented EV Standard™ and UAV ARC™ will require battery pack formats which are optimized for each product’s unique attributes. The acquisition of AllCell will allow for these developments at an accelerated pace with significantly reduced costs. Energy storage is crucial to Beam Global’s value proposition and battery systems currently account for approximately 30% of Beam Global products’ bills of materials. The strategic acquisition of AllCell will significantly reduce COGS through margin recapture and value engineering. Management anticipates an approximate 7% reduction in material costs in the near term as a result of margin recapture followed by increasing reductions in COGS as the Beam Global and AllCell engineering teams together identify further opportunities for improvements.