Chaired by His Royal Highness, Sheikh Mohammed Sultan Bin Khalifa Al-Nahyan, the Platinum Group UAE is recognised for its well-established and trusted relationships across government and industry.
Beam Global and the Platinum Group will form a new entity, Beam Middle East LLC, which will sell and manufacture Beam Global’s patented sustainable infrastructure solutions for transportation electrification, energy storage, energy security, and smart city development across the Middle East and African regions. This joint venture supports Beam Global’s strategy of geographic diversification by opening new markets and creating opportunities for revenue growth outside the United States. Beam Global, Beam Europe, and now Beam Middle East will each sell and manufacture the company’s full portfolio of patented sustainable technology solutions.
“The Platinum Group is an organisation of the highest reputation, influence and relationships in Abu Dhabi and the surrounding region” said Desmond Wheatley, CEO of Beam Global. “They are a perfect partner to accelerate Beam Global's growth in the Middle East and Africa. With planned spending on sustainable infrastructure in the region projected to reach $75.6 billion by 2030, we believe that Beam Global's patented technology combined with Platinum's unrivalled position should create a platform for growth which we are uniquely able to leverage.”
The number of EVs in the region – consisting of the five key markets of UAE, Saudi Arabia, Qatar, Oman, and Jordan - is projected to grow from approximately 69.0 thousand in 2024 to approximately 1.5 million by 2030 (Table 1), representing a compound annual growth rate (CAGR) of 66.6 percent.
Assuming a 5.0 percent share of regional chargers using EV ARC units, the addressable revenue could reach $516.5 million by 2030.
If eBikes account for just 5.0 percent of total EV volume and follow the same growth trajectory, BeamBike units could represent a $245.0 million revenue opportunity in the region by 2030.
The UAE eBike market is projected to reach $443.8 million by 2030. Assuming 15.0 percent of that spend goes toward charging infrastructure, and that Abu Dhabi accounts for 35.0 percent of the national market based on population, the addressable eBike charger market for BeamBike in Abu Dhabi is approximately $23.3 million.
A streetlight-to-population ratio based on New York City, applied to Abu Dhabi’s estimated 3.8 million residents, suggests BeamSpot units could represent a potential revenue opportunity of approximately $322.1 million assuming a market penetration of 5.0 percent.
Using Abu Dhabi’s population and a comparable US Police motorcycle fleet ratio, the opportunity to electrify local law enforcement fleets with BeamPatrol units is estimated at approximately $2.4 million.
With over 5.8 million annual hotel guests, Abu Dhabi also offers a strong use case for BeamSkoot at resorts, both for logistics and recreational purposes. Assuming adoption rates of 10.0 percent, the potential revenue opportunity for BeamSkoot units could reach approximately $10.0 million.
The above scenarios are estimates only, based upon market data taken from internet resources. Beam Global believes these case studies can be replicated in other markets across the Middle East and Africa.
“With abundant sunshine and fast-growing adoption of electric vehicles (EVs), renewables, and energy storage, the region is perfect for Beam Global’s solutions” added Dr Ali Nasser Sultan Al Yahbouni Al Daheri, CEO of Platinum Group. “Energy security and Smart Cities solutions like those offered by Beam Middle East are at the forefront of government planning. Our timing is right, and our partnership is formed on mutual benefit from growth and success. We are delighted to have Beam Global as part of our growing family of businesses.”
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