Tag Archives for: Envision Solar

Envision Solar Announces Rebranding as Beam Global

September 15, 2020

Envision Solar Announces Rebranding as Beam Global

The name change reflects the Company’s continued commitment to lead the world to clean mobility

 

 

SAN DIEGO, Sept. 15, 2020  — Envision Solar International, Inc., (Nasdaq: BEEM, BEEMW, formerly EVSI, EVSIW) (“Envision Solar,” “Beam Global,” or the “Company”), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, today announced that it is changing its name to Beam Global. The new name, along with new branding and visual identity, reflect the Company’s continued commitment to lead the cleantech industry as the developer of products, solutions and business models that accelerate the global transition to a clean transportation sector.

The rebranding comes as the Company continues to meet the growing demand from governments and companies seeking to ensure their EV charging capabilities are scalable, robust and cost effective, as well as easy to use and install. The release of a new version of Beam Global’s flagship product, the EV ARC™ 2020 (Electric Vehicle Autonomous Renewable Charger) —  which generates and supplies electricity to EV chargers without the need for construction, electrical work or a grid connection —  exemplifies the Company’s contribution to the rapid scaling of EV charging infrastructure. The Company is also preparing to launch new products tailored for the medium and heavy-duty vehicle and UAV markets. As Beam Global, the Company is establishing its position as a pioneer in enabling the rapid scaling of clean transportation infrastructure beyond its signature transportable, renewably-energized charging units.

“The transportation sector is rapidly becoming electrified. No matter the vehicle type, charging infrastructure will be essential across all sectors globally, and millions of EV chargers will be needed,” said Beam Global CEO Desmond Wheatley. “Governments and enterprises are eager to provide charging infrastructure that is scalable, reliable and cost effective while avoiding hurdles like lengthy construction and electrical projects that are typical of grid-connected charging units. Beam continues to meet these needs — while securing our energy supply and supporting global climate commitments. Starting today, we are thrilled to lead the world to clean mobility as Beam Global.”

The Company’s brand name and visual identity have been updated to convey its mission to lead the world to clean mobility. Drawing connections to beams of energy, sunlight and steel, the new visual language emphasizes sustainability and strength. The debut of the Beam Global brand will be accompanied by the launch of the Company’s new website and a change in its Nasdaq ticker symbol (Nasdaq: BEEM, BEEMW).

About Beam Global
Beam Global produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, and costs of grid-tied solutions. Our products are founded upon our patented EV ARC™ and Solar Tree® lines and include BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media, and disaster preparedness packages.

From start to finish, we develop, patent, design, engineer, and manufacture unique and advanced renewably energized products that help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly EVSI and EVSIW). For more information visit BeamForAll, LinkedIn, YouTube and Twitter.

Envision Solar Announces Follow-On Order from National Renewable Energy Lab (NREL)

August 25, 2020

 

 

 

Envision Solar Announces Follow-On Order from National Renewable Energy Lab (NREL)

 

 

SAN DIEGO, Aug. 25, 2020  — Envision Solar International, Inc., (Nasdaq: EVSI, EVSIW)  (“Envision Solar,” or the “Company”), the leading producer of unique and sustainable infrastructure products for electric vehicle (EV) charging, energy security and outdoor media, announced that the U.S. Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL) has ordered the EV ARC™ solar powered EV charging product to charge EVs, hybrids and GEMs (global electric motorcars) used in fleet operations.

This deployment will be the first of the patented EV ARC™ products by NREL and follows previous deployments of Envision’s patented Solar Tree® products. NREL ordered the EV ARC™ product equipped with the optional emergency power panel which has been used by Envision’s current customers to provide a source of power during blackouts and to power COVID emergency centers. EV ARC™ products are currently in use in four other DOE National Laboratories including Lawrence Livermore National Laboratory, Sandia National Laboratories in Albuquerque, Sandia National Laboratories in Livermore and Idaho National Laboratory.

The U.S. Federal Government is the largest consumer of gasoline in the world today. Electrifying the Federal fleets will require significant amounts of EV charging infrastructure. Envision has already sold to multiple Federal agencies and is in the process of qualifying for the GSA schedule so that Federal departments can purchase Envision products without going through lengthy and resource consuming contracting processes. Envision currently has similar contracts in place with the State of California, New York City, State of Massachusetts, Exelon Power and The City of Pittsburgh.

“NREL is one of the world’s preeminent renewable energy and energy efficiency research laboratories,” said Envision Solar CEO, Desmond Wheatley. “We are delighted to have them select our EV charging infrastructure products. As the EV ARC is used more broadly we find acceptance of and interest in the product increasing which we believe will lead to continued growth in Federal sales, especially at a time of likely stimulus spending both here in the U.S. and in the EU.”

About Envision Solar International, Inc.

Envision Solar, www.envisionsolar.com, produces and sells unique and patented sustainable infrastructure products, for electric vehicle charging, energy security and outdoor media, including the EV ARC™ and the Solar Tree® with EnvisionTrak™ patented solar tracking, SunCharge™ solar Electric Vehicle Charging, ARC™ technology energy storage, and EnvisionMedia™ solar advertising displays.

Based in San Diego, the company produces Made in America products. Envision Solar is listed on the Nasdaq CM under the symbols EVSI and EVSIW. For more information visit www.envisionsolar.com or call (858) 799-4583. Follow us on social media to keep up with the latest news: LinkedIn, Facebook, Twitter, Instagram, and YouTube.

Forward-Looking Statements

This Envision Solar International, Inc. Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements.  Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results.

Envision Solar Reports Financial Results for the Second Fiscal Quarter Ended June 30, 2020

August 14, 2020

 

Envision Solar Reports Financial Results for the Second Fiscal Quarter Ended June 30, 2020

 

 

 

SAN DIEGO  — Envision Solar International, Inc.,(Nasdaq: EVSI, EVSIW) (“Envision Solar,” or the “Company”), the leading producer of unique and sustainable infrastructure products for electric vehicle charging, energy security and outdoor media, today announced financial results for the second fiscal quarter ended June 30, 2020.

Q2 2020 Business Highlights

  • Announced the official launch of the Next Generation EV ARCTM 2020 off-grid EV Charging structure.
  • Delivered another solar-powered EV ARCTM 2020 DC fast charging system at Caltrans Rest Area in California.
  • Delivered follow-on multi-unit EV ARCTM 2020 units to the City of Madison, Wisconsin.
  • Delivered EV ARC™ to City of Greensboro, North Carolina for public use in central downtown lots.
  • Delivered the first Canadian order for the Company’s EV ARCTM solar-powered infrastructure product.
  • Delivered EV ARCTM 2020 to City of San Luis Obispo, California for city fleet vehicles.
  • Delivered two Solar Tree® solar-powered sustainable infrastructure products to the Ocean Discovery Institute in San Diego.
  • EV ARCTM product provided off-grid power and EV charging at COVID-19 emergency facilities in California.
  • Envision added to the FTSE Russell Microcap Index

Recent Developments

  • Closed an underwritten public offering on July 7, 2020, which generated net proceeds of approximately $10.6 million after deducting underwriting discounts and commissions and offering expenses. Proceeds will be used for growth/working capital and general corporate purposes.

“COVID-19 has tragically affected many companies across the U.S., but we have continued to operate and provide critical off-grid solar-powered infrastructure products for electric vehicle charging and for emergency power during the pandemic,” said Desmond Wheatley, CEO of Envision Solar.  “Q2 was a challenging quarter for everyone but our team continued to execute. Even at the height of the lockdown we continued to produce and sell products, submit a new patent application and see our existing products provide vital EV fueling and emergency power for our customers’ COVID emergency facilities. Though there is a great deal of uncertainty across the globe, we are still seeing strong interest in our products and the broader EV sector. We believe that support from stimulus spending and increasing appetites for electric vehicles of all types, and the off grid charging solutions we produce, will drive our growth in the coming quarters.”

Q2 2020 Financial Summary

Revenue
For the three months ended June 30, 2020, revenues were $1,455,158, compared to $1,640,350 for the same period last year, an 11% decrease. Revenues in the three months ended June 30, 2020 included our first EV ARCTM shipment into Canada and our second solar-powered EV DC fast charging deployment to a California rest area. We also delivered two Solar Tree® solar-powered sustainable infrastructure products which are designed to provide charging for electric buses, electric heavy-duty vehicles and growing electric vehicle options in the construction industry, in addition to several other EV ARCTM units. The same period in 2019 included the delivery of 16 units to one customer, the City of New York. For the first six months of 2020, revenues were $2,772,210 compared to $2,829,945 for the same period in 2019, a 2% decrease. As of June 30, 2020, our contracted backlog was approximately $2.6 million. Our shipments will continue to fluctuate each quarter due to the varying size of orders and timing of deliveries. The COVID-19 virus has caused some delays and cancellations of opportunities in our pipeline as a result of funding issues, priority issues or business closures, and may impact us more in the future.

Gross Profit 
For the three months ended June 30, 2020, we had a gross profit of $55,336 compared to a gross profit of $61,545 for the three months ended June 30, 2019 and for the six months ended June 30, 2020, we had a gross profit of $15,695 compared to a gross profit of $8,443 for the same period in the prior year. Our gross profit remains low as we’ve priced our units to be competitive and to gain market share in the EV charging market, but we expect it to improve as our revenues increase and we benefit from lower fixed overhead cost per unit, volume purchase pricing and improved labor efficiency.

Net Loss
Our net loss was $833,957, or $0.16 per basic and diluted share, for the three months ended June 30, 2020, reduced from $983,874, or $0.21 per basic and diluted share for the same period in 2019. This is primarily attributable to a reduction in interest expense due to the pay-off of debt following our public offering last year, partially offset by an increase in operating expenses, primarily for increased sales and marketing expense to support revenue growth, non-cash compensation expense and salaries and benefits. Our net loss for the six months ended June 30, 2020 was $1,776,478, or $0.34 per basic and diluted share, down from $1,933,505, or $0.51 per basic and diluted share for the same period in the prior year. Similar to the quarter, the reduction in interest expense that resulted from the elimination of debt was partially reinvested in higher operating expenses, primarily for sales and marketing activities.

Liquidity and Capital Resources
At June 30, 2020, we had cash of $1,952,394, compared to $3,849,456 at December 31, 2019. The cash usage during the first six months of 2020 resulted primarily from the net loss, net of non-cash expenses and increased inventory and prepaid expenses, and the payment of a convertible note payable to a related party. This was partially offset by cash generated from the exercise of warrants and a loan through the Small Business Administration Paycheck Protection Program made available through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Our working capital decreased from $5,142,719 to $3,989,036 from December 31, 2019 to June 30, 2020.

 

Webcast URL: https://services.choruscall.com/links/evsi200813.html

A webcast replay of the call will be available approximately one hour after the end of the call through November 13, 2020. The replay can be accessed through the above links.

About Envision Solar International, Inc.

Envision Solar, www.envisionsolar.com, produces and sells its unique and patented, sustainable infrastructure products for electric vehicle charging, energy security and outdoor media including the EV ARC™ and the Solar Tree® with EnvisionTrak™ patented solar tracking, SunCharge™ solar Electric Vehicle Charging, ARC™ technology energy storage, and EnvisionMedia™ solar advertising displays.

Based in San Diego, the company produces Made in America products. Envision Solar is listed on the Nasdaq CM under the symbols EVSI and EVSIW. For more information visit www.envisionsolar.com or call (858) 799-4583. Follow us on social media to keep up with the latest news: LinkedIn, Facebook, Twitter, Instagram, and YouTube.

Forward-Looking Statements 

This Envision Solar International, Inc. Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements.  Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results.

Envision Solar Announces First EV ARC™ Order from Baltimore Gas and Electric

August 13, 2020

 

Envision Solar Announces First EV ARC™ Order from Baltimore Gas and Electric

 

SAN DIEGO, Aug. 13, 2020  — Envision Solar International, Inc., (Nasdaq: EVSI, EVSIW)  (“Envision Solar,” or the “Company”), the leading producer of unique and sustainable infrastructure products for electric vehicle (EV) charging, energy security and outdoor media, announced that Baltimore Gas and Electric (BGE) has ordered its EV ARC™ product to forward the utility’s innovation and environmental stewardship efforts and to promote off grid EV charging within its workplaces and corporate offices.

The deployment of the EV ARC™ product is intended to reduce the time and cost of construction associated with traditional grid-tied infrastructure as well as to demonstrate an additional source of electrical power to support the grid as EV adoption rates increase in the future.

“We see a unique opportunity to integrate the EV ARC into our strategy for providing charging solutions to our operators, including the ability to expand charging in remote locations or where on-grid chargers have yet to be installed. The fact that the product is transportable with a 100% renewable power source is an added benefit that supports our commitment to environmental stewardship and decarbonization,” said Liz O’Connor, BGE’s vice president of support services. “BGE is focused on bringing EV chargers to the region to help spur the adoption of electric vehicles. We are also working hard to electrify our fleet with a goal of having 50 percent of our fleet electric by 2030. Technologies like the EV ARC will help us as we work to achieve both these goals.”

Baltimore Gas and Electric is a subsidiary of Exelon Corporation and Maryland’s largest Gas and Electric utility. Headquartered in Baltimore, BGE provides service to more than 1.2 million electric customers and more than 650,000 natural gas customers in central Maryland. BGE employs 3,100 people in the state of Maryland, making the company one of the 15 largest private employers in the region. BGE ordered the EV ARC™ product through a Master Contract between Envision Solar and Exelon Business Services Company LLC.

“BGE is an innovative utility which recognizes the fantastic potential of EVs and of powering them with distributed renewable power sources which are carbon free and highly robust,” said Envision Solar CEO, Desmond Wheatley. “We are delighted to partner with BGE and our other utility customers like SDG&E and LGE. Electric vehicles are coming fast and they will need lots of infrastructure both connected to the grid and from distributed sources. Driving on sunshine delivered by our EV ARC products provides the ultimate clean, rapidly deployed and highly scalable solution for this exciting and rapid growth opportunity. Working with the utilities is an excellent way to scale up in a way that benefits everybody.”

About Envision Solar International, Inc.

Envision Solar, www.envisionsolar.com, produces and sells unique and patented sustainable infrastructure products, for electric vehicle charging, energy security and outdoor media, including the EV ARC™ and the Solar Tree® with EnvisionTrak™ patented solar tracking, SunCharge™ solar Electric Vehicle Charging, ARC™ technology energy storage, and EnvisionMedia™ solar advertising displays.

Based in San Diego, the company produces Made in America products. Envision Solar is listed on the Nasdaq CM under the symbols EVSI and EVSIW. For more information visit www.envisionsolar.com or call (858) 799-4583. Follow us on social media to keep up with the latest news: Facebook, Twitter, Instagram, and YouTube.

Forward-Looking Statements

This Envision Solar International, Inc. Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements.  Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results.

The City of San Luis Obispo, California Deploys Envision Solar EV ARC™ Solar-Powered EV Charging for City Fleet Use

July 22, 2020

 

 

The City of San Luis Obispo, California Deploys Envision Solar EV ARC™ Solar-Powered EV Charging for City Fleet Use

 

 

 

Envision Solar’s 100% Renewably Powered Charger Demonstrates City’s Commitment to Sustainability and Building Clean EV Charging Infrastructure

 

SAN DIEGO, July 22, 2020  — Envision Solar International, Inc., (Nasdaq: EVSI, EVSIW) (“Envision Solar,” or the “Company”), the leading producer of unique and sustainable infrastructure products for electric vehicle charging, energy security and outdoor media announced today that the City of San Luis Obispo, California has deployed the solar-powered EV ARC™ 2020 to provide EV charging for city fleet vehicles. The EV ARC™ infrastructure product which is powering a ChargePoint dual-plug charger is deployed adjacent to City Hall and includes an emergency power panel that can be used by first responders, which adds to the City’s inventory of energy resiliency and emergency preparedness assets.The charger was funded primarily by the San Luis Obispo (SLO) County Air Pollution Control District (APCD) and was purchased through the California State Contract #1-18-61-16.

“The City of San Luis Obispo is excited to add the EV ARC solar powered charging station to fuel our fleet vehicles with emissions free energy that will still be available to us during grid outages,” said Chris Read, Sustainability Manager for the City of San Luis Obispo. “We needed a City Hall location but it would have been disruptive and expensive to install in-ground chargers. The EV ARC arrived just a few days after we ordered it and required no construction or disruption to our civic center area.”

The deployment of 100% renewably powered EV ARC™ charging supports the City’s 2019-2021 Climate Action Major City Goal and immediately began reducing greenhouse gas emissions from municipal operations. Because the unit is off grid, there is no monthly utility bill for the City. EV ARC™ infrastructure products can be easily transported to another location if needed.

“San Luis Obispo joins over 100 municipalities across the U.S. using EV ARC products for their sustainable EV charging infrastructure,” said Envision Solar CEO, Desmond Wheatley. “Buying off the California contract allows municipalities to rapidly build out EV charging infrastructure with deployment possible in days instead of months or years. In the case of San Luis, the unit was deployed in minutes, just four days after they placed their order.”

About Envision Solar International, Inc.

Envision Solar, www.envisionsolar.com, produces and sells unique and patented sustainable infrastructure products for electric vehicle charging, energy security and outdoor media, including the EV ARC™ and the Solar Tree® with EnvisionTrak™ patented solar tracking, SunCharge™ solar Electric Vehicle Charging, ARC™ technology energy storage, and EnvisionMedia™ solar advertising displays.

Based in San Diego, the company produces Made in America products. Envision Solar is listed on the Nasdaq CM under the symbols EVSI and EVSIW. For more information visit www.envisionsolar.com or call (858) 799-4583. Follow us on social media to keep up with the latest news: LinkedIn, Facebook, Twitter, Instagram, and YouTube.

Forward-Looking Statements

This Envision Solar International, Inc. Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results.