Beam Global Signs Non-Binding LoI With Vertically Integrated European Drone Technology Company
Beam Global intends to acquire the company and, if the acquisition is completed, to manufacture drones in its existing factories in the U.S. and Europe and to sell those drones and software services to its existing and new customers across its global footprint. The agreement, once finalized, is expected to evolve Beam Global into a vertically integrated drone and AI-enhanced drone software company while significantly advancing the Company’s diversified technology platform and expanding its footprint in defense, infrastructure and other key industries. The proposed acquisition remains subject to due diligence, negotiation and execution of definitive agreements, and other customary closing conditions, and there can be no assurance that the acquisition will be completed on the contemplated terms or at all. Beam Global’s management believes that the intended acquisition is a highly advantageous evolution of its current business because: The target company is already producing and selling drones and software internationally to Fortune Global 500 and other significant companies. The target company has a drone product which has received Conditional Approval from the U.S. Department of War
S. and Europe and to sell those drones and software services to its existing and new customers across its global footprint. The agreement, once finalized, is expected to evolve Beam Global into a vertically integrated drone and AI-enhanced drone software company while significantly advancing the Company’s diversified technology platform and expanding its footprint in defense, infrastructure and other key industries. The proposed acquisition remains subject to due diligence, negotiation and execution of definitive agreements, and other customary closing conditions, and there can be no assurance that the acquisition will be completed on the contemplated terms or at all.
Beam Global’s management believes that the intended acquisition is a highly advantageous evolution of its current business because: The target company is already producing and selling drones and software internationally to Fortune Global 500 and other significant companies. S. Department of War. S.
onshoring plan and updated government vetting of the product. S. following the completion of the acquisition, thus complying with the onshoring requirement. S.
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Navy, the British Ministry of Defence, and conglomerates and corporate entities in oil and gas, maritime, agriculture, mining, and many other industries which are, the company believes, ideal candidates for the technology it intends to acquire through this transaction. S. companies. Beam Global’s current factories and existing skilled team will be able to manufacture the drones following the closing of the acquisition without significant capital investment.
Beam Global already manufactures batteries for drones, robots, submersibles and other similar devices. S. that also produces its own batteries. Beam Global’s patented BeamFlight™ product enables remote recharging of drones without the requirement for grid infrastructure or traditional generators.
The Company believes that this capability will further enhance its competitive advantage in both military and commercial drone applications. S. and Europe is well positioned to enhance the Drone Company's engineering team and vice versa. This agreement marks a key expansion of Beam Global’s product line, bringing the Company’s established technology into the drone industry and further advancing its diversified technology platform.
"This planned acquisition will be, in my view, one of the most significant strategic advances in our company’s history and it is central to the strategy that Beam Global has been pursuing for some time. We have created a technology platform with global manufacturing and engineering capabilities focused on energy, mobility and intelligence and our experience with drones has been growing apace. All we have lacked is a proven drone platform and we now intend to change that," said Desmond Wheatley, CEO of Beam Global.
"I believe that we are ideally positioned to become a leader in the drone industry because of our depth of experience in developing and manufacturing complex, patented technology solutions for mobility, energy and smart cities infrastructure. Drones represent a natural extension of our expertise, and our existing customer base includes military, government and commercial customers that we believe will be potential customers for the acquired drone technology. S.
and manufacturing it here while integrating it with our advanced proprietary energy, mobility and infrastructure technology, we envision an opportunity to build a differentiated platform for a rapidly developing market. For a decade, Beam has made the batteries that power other people’s drones; we will continue to do that but, in the future, we intend to lead with our own airframe and an incredibly robust software platform designed for the harshest conceivable environments. S. government and other regulated markets once domestic manufacturing is established and applicable regulatory and procurement requirements are satisfied.
S. S. Marine Corps, and the Pentagon are customers of Beam. S.
S. S. market opportunities, subject to applicable regulatory and procurement requirements. Following the acquisition, Beam will pursue the provision of drone technology to its current clients while continuing to support its current drone customers.
4 billion in 2026, up nearly 15% from 2025, and is projected to more than double by 2033, according to a Grand View Research report. North America controls roughly 40% of the global drone market, and Europe accounts for nearly 27% of the global market. The Drone market has been one of the fastest-growing markets globally due to an increase in defense, public safety, industrial inspection and delivery applications.