Beam Global signs MOU with Masdar City Free Zone for clean energy

Beam Global (NASDAQ: BEEM) announced that its subsidiary Beam Middle East has signed a Memorandum of Understanding with Masdar City Free Zone in Abu Dhabi, UAE, to explore the integration of clean energy and mobility technologies into the Masdar City ecosystem.

Under the non-binding agreement, Beam Middle East would introduce off-grid EV charging infrastructure, solar-integrated e-bike solutions, and other clean-energy mobility technologies for potential deployment within Masdar City. The MOU follows Beam Middle East's licensing through Masdar City Free Zone.

The collaboration is aimed at exploring applications within the Smart and Autonomous Vehicle Industries cluster at Masdar City, which is intended to support the evaluation and commercialization of smart transit solutions.

"Partnering with Masdar City, a global leader in sustainable urban development, is a major milestone for Beam Global as we expand our footprint in the Middle East," said Desmond Wheatley, CEO of Beam Global.

Dr. Mohamed Al Breiki, Executive Director of Masdar City, said the agreement creates "a valuable opportunity to explore next-generation mobility and off-grid energy technologies."

Mahmoud Al Hosani, Executive Director of Finance and Support Services at Masdar City, noted that the agreement reflects the Free Zone's goal of attracting international clean-technology companies to establish a regional presence in Abu Dhabi.

Beam Global is headquartered in San Diego and maintains operations in the U.S., Europe, and the Middle East. Masdar City hosts more than 2,000 organizations, including the International Renewable Energy Agency and several Fortune 500 companies.

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