Beam Global Enters LOI to Acquire European Drone Technology Company and Position Beam to Become a Vertically Integrated Drone Company

SAN DIEGO, Sept. 22, 2026 (GLOBE NEWSWIRE) -- Beam Global (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for energy storage and security, electrification of mobility, and smart city infrastructure, announces it has signed a non-binding Letter of Intent with a vertically integrated European drone technology company that currently develops, manufactures, and sells drones and a suite of proprietary drone-related, AI-enhanced software products. 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.