Beam Global (NASDAQ:BEEM) is positioning its planned acquisition of Norwegian drone technology company ScoutDI as the next step in its expansion beyond off-grid electric vehicle charging, President, CEO and Chairman Desmond Wheatley said during an investor webinar.
Wheatley said Beam has evolved from a company focused primarily on autonomous solar-powered EV charging stations into a broader sustainable-technology platform spanning energy storage, mobility and smart-city infrastructure. The company has expanded through acquisitions including AllCell Technologies in 2022, European streetlight manufacturer Amiga in 2023 and power-electronics business Telcom in 2024, he said.
Beam signed a share purchase agreement to acquire ScoutDI, which develops drones and software for industrial inspections. Wheatley described the pending transaction as an approximately $24 million deal structured with a combination of cash and Beam stock. He said the cash component would be larger than the equity component and that Beam had secured commitments for non-dilutive financing for the cash portion. ScoutDI shareholders are expected to become Beam shareholders, while potential earn-outs in 2026 and 2027 would depend on revenue growth.
Drone inspection technology and recurring software revenue
ScoutDI currently sells drone systems and receives recurring, high-margin revenue from associated software, Wheatley said in response to an analyst question. He said Beam may also consider offering drone services, depending on customer requirements.
According to Wheatley, ScoutDI has completed more than 7,000 inspection flights and has 83 customers across 31 countries. Its customers include Exxon, Chevron and Shell, he said. The company’s drones are used in demanding industrial settings including oil and gas, maritime, mining and nuclear-related applications.
Wheatley highlighted ScoutDI’s tethered-drone configuration as a key differentiator. The tether provides continuous power and a wired data connection, which he said allows for extended flight time while reducing concerns around radio-frequency interference and data interception. He also said the drones can operate in GPS-denied environments, including complex enclosed steel structures.
The drones use sensing tools including lidar and ultrasonics, combined with AI-enhanced inspection software, to generate digital representations of facilities and identify conditions such as corrosion, weld cracking and changes in steel thickness, Wheatley said. He contrasted the process with traditional inspections that can require teams of workers, cleaning, degassing and scaffolding.
- ScoutDI manufactures its drones in-house and develops its own software, Wheatley said.
- The company currently uses third-party batteries, which Beam expects to replace over time with its own battery technology following a closing.
- Beam expects to pursue untethered versions of ScoutDI’s drones using its battery and radio-control capabilities.
Manufacturing plans and defense opportunity
Beam intends to manufacture ScoutDI drones in the United States after the transaction closes, using existing facilities in California, Arizona and Illinois. Wheatley said Beam’s facilities are already equipped to build the electromechanical assemblies, structures, batteries and electronics needed for drone production and currently have unused capacity.
ScoutDI has conditional Pentagon and Federal Communications Commission approval for its drones, Wheatley said, with U.S. manufacturing as the condition. Beam plans to prioritize meeting that condition and Wheatley said he intends to produce a drone in the U.S. this year.
Beam also plans to retain European manufacturing, including facilities in Serbia, for European and other international markets. Wheatley said local production could be particularly important because customers and governments may prefer domestically or regionally manufactured drones due to data-security and supply-chain concerns.
He said the company sees potential demand from its existing government and commercial customers, including the U.S. military, as well as from customers in oil and gas, maritime, mining and agriculture. Beam also plans to introduce ScoutDI’s technology through its existing sales channels and contracts, including GSA and Sourcewell relationships.
Broader diversification strategy
Wheatley said Beam’s EV charging business remains central to its operations, though the company has sought diversification following a reduction in U.S. federal demand for EV and sustainable-energy infrastructure beginning in January 2025. Beam reported third-quarter 2026 revenue growth of 8% year over year, he said, despite the loss of what had at times represented a substantial federal customer opportunity.
The company employs about 227 people globally and operates facilities in the United States and Europe, according to Wheatley. Beam also has a Middle East joint venture based in Abu Dhabi, though he said regional conflict has slowed infrastructure investment activity.
Looking ahead, Wheatley said Beam intends to continue developing energy-storage products for AI data centers, wireless charging systems for autonomous vehicles, mobility products and smart infrastructure. He said the ScoutDI acquisition would add drone airframes and inspection software to Beam’s existing battery, charging and power-electronics capabilities without requiring major new capital expenditures for manufacturing infrastructure.
About Beam Global (NASDAQ:BEEM)
Beam Global is a clean-technology company that develops and sells renewable energy infrastructure for electric vehicle charging and other mobile power applications. Its products are designed to operate independently of the electrical grid and can be deployed without extensive construction or utility interconnection work.
The company’s flagship product is the EV ARC, a transportable solar-powered electric vehicle charging system that combines solar generation, battery storage and charging equipment.
