Beam Global Signs Definitive Agreement to Acquire Drone Technology Company ScoutDI, Creating a Vertically Integrated U.S. Drone Platform for Industrial and Defense Markets

SAN DIEGO, Oct. 07, 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 executed a Share Purchase Agreement (SPA) to acquire drone technology company ScoutDI. ScoutDI develops, manufactures, and sells drone systems and a suite of proprietary AI-enhanced software for the inspection of confined spaces and other hard-to-access industrial assets, serving customers in the maritime, oil and gas, energy and other industries. Upon completion of the acquisition, Beam intends to manufacture ScoutDI’s drone systems for the U.S. market in its existing U.S. factories. Beam intends to serve European and Middle Eastern markets from Beam’s European factories, which will be further enhanced by the retention of ScoutDI’s sales, engineering and manufacturing facilities.

ScoutDI has existing customers in 30 nations, including ExxonMobil, Chevron, Oceaneering and Ørsted, as well as the global testing, inspection and certification companies DEKRA, Applus+, Kiwa and Apave. Its technology is also deployed in the field by Shell, Petrobras and Equinor. Beam intends to expand drone sales across its existing customer base, which includes oil and gas majors, industrial conglomerates, mining, agriculture, utilities, law enforcement, border patrol, state, local and federal governments and U.S. and European defense departments.

The purchase price of approximately $24.0 million will be paid in a combination of cash and Beam common stock. Beam has secured commitments, subject to customary transaction requirements, for non-dilutive financing sufficient to fund the cash portion of the acquisition at closing on terms acceptable to the Company. ScoutDI sellers are further eligible for full earn-out payments in 2026 and 2027 in the event that drone and software revenues exceed 150% and 160% of 2025 revenues, respectively. Earn-outs may be paid in a combination of cash and Beam common stock. The transaction is expected to close in November 2026, subject to customary closing conditions.

ScoutDI’s main shareholders, DNV, Equinor Ventures and Klaveness, will hold Beam stock as a result of the acquisition. 

“The ScoutDI acquisition will be a highly advantageous evolution of our current business, as ScoutDI already has an established global drone and software business with impressive margins and recurring revenues, serving Fortune Global 500 and other significant companies. Furthermore, the ScoutDI technology lends itself to many other applications and opportunities for both enterprise and government customers, which we intend to vigorously pursue through our global network. I am confident that both the existing and future opportunities will create significant new growth avenues for us,” said Beam Global’s Chairman and CEO, Desmond Wheatley. “ScoutDI’s Conditional Approval from the U.S. Department of Defense enables its approved drone systems to be marketed in the U.S. We believe our U.S. factories and skilled team are well positioned to deliver the domestic manufacturing that the approval requires without material increases in capital or operating expenditure, while our European facilities, combined with ScoutDI’s, will cover Europe and the Middle East.”

“We currently produce batteries for drones, robots, submersibles and other similar devices which we believe creates a significant differentiator and allows Beam to become what may be the only vertically integrated drone manufacturer in the U.S. that also produces its own batteries. Our patented BeamFlight™ technology, which enables remote recharging of drones without construction or grid infrastructure, adds a further layer of differentiation. We have built a technology platform with global manufacturing and engineering capabilities focused on energy, mobility and intelligence, and we believe Beam has the potential to become a leader in the drone industry because of our depth of experience in developing and manufacturing complex, patented technology solutions for mobility, energy and smart city infrastructure and selling them to exactly the sort of customers who we believe will value the new products and technology we are gaining through this acquisition. I am also very happy to welcome ScoutDI’s leading shareholders, who are all highly respected entities, to the Beam Global shareholder family,” concluded Mr. Wheatley.

“Joining Beam is an exciting next step for ScoutDI. Our customers already rely on our products to inspect confined spaces that are dangerous and costly to enter, and Beam brings the U.S. manufacturing, global footprint, and energy expertise to scale that much faster. Manufacturing in the U.S. is the key to the U.S. commercial, government and defense markets, and together we can take our technology to a far larger customer base. We have long believed that there are many other industries and applications to which our technology, and some of the exciting advances we are developing in our technology pipeline, like fully autonomous operations, can bring value, and we plan to take advantage of Beam’s global footprint and relationships to create growth in new markets for our products. We look forward to becoming an integral part of Beam and to demonstrating our combined value to shareholders and customers alike,” added Nicolai Husteli, CEO of ScoutDI.

Nicolai Husteli will continue to lead ScoutDI within Beam. ScoutDI’s Scout Portal software generates recurring subscription revenue.

ScoutDI’s Scout 137 Gen3 was the first European drone system, and among the first four systems overall, to receive Conditional Approval from the U.S. Department of Defense. As a result of the Conditional Approval, the system has been exempted by the FCC from its Covered List and can be sold in the U.S. The Conditional Approval remains effective subject to compliance with ScoutDI’s U.S. onshoring plan and updated government vetting of the product, and Beam intends to manufacture the product in the U.S. following closing, consistent with that onshoring plan. Beam believes that U.S. manufacturing and a documented domestic supply chain will also position the Scout 137 for U.S. government and defense procurement, subject to satisfying applicable requirements such as the American Security Drone Act and the Blue UAS program. 

ScoutDI’s technology is inherently dual-use, with significant potential in defense and security applications, and Beam intends to pursue these opportunities through its U.S. manufacturing, its existing defense customer relationships and its federal procurement channels.

The “Unleashing American Drone Dominance” executive order signed on June 6 2025, directs federal agencies to prioritize the integration of U.S.-manufactured unmanned aircraft systems over foreign-manufactured systems and directs the Department of Defense to prioritize procurement of Section 848-compliant drones made by U.S. companies. 

The global drone market has an estimated value of USD 96.4 billion in 2026, up nearly 15% from 2025, and is projected to more than double by 2033, according to a Grand View Research report. North America accounts for roughly 40% of the global drone market, and Europe accounts for nearly 27% of the global market. The drone market has experienced significant growth, driven by increases in defense, public safety, industrial inspection, and delivery applications. Beam believes the same capabilities open further markets, including inspection inside tall buildings, elevator shafts, mines, tunnels and sewers, as well as public safety, security and defense applications where a drone can enter structures ahead of personnel.

About ScoutDI

ScoutDI develops drone systems and AI-enhanced software for safe and efficient inspection of confined spaces and other hard-to-access industrial assets. Its Scout 137 Gen3 drone system is used by inspection service providers and asset owners in the maritime, oil and gas and energy sectors to reduce the need for manual entry into tanks, cargo holds and other confined spaces. By replacing scaffolding, rope access and manual entry with a single drone flight, ScoutDI helps customers improve safety, shorten downtime, lower inspection costs and get consistent inspection data that can be compared over time. ScoutDI is headquartered in Trondheim, Norway. For more information visit scoutdi.com.

About Beam Global

Beam Global is a sustainable technology innovator that develops and manufactures infrastructure products and technologies. The Company operates at the nexus of innovative and reliable energy, transportation and smart city solutions with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage, energy security and intelligent infrastructure. With operations in the U.S., Europe and the Middle East, Beam Global develops, patents, designs, engineers and manufactures unique and advanced technology solutions that power transportation, provide secure sources of electricity, enable smart city services, save time and money, and protect the environment. Beam Global is headquartered in San Diego, CA, with facilities in Yuma, AZ; Broadview, IL; Belgrade and Kraljevo, Serbia; and Abu Dhabi, UAE. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube, Instagram and X.

Forward-Looking Statements

This Beam Global Press Release contains 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. Forward-looking statements in this Press Release include, without limitation, statements regarding the proposed acquisition, the financing and completion of the proposed acquisition, the anticipated benefits of the proposed acquisition, the establishment of U.S. manufacturing, the continued effectiveness of ScoutDI’s Conditional Approval and FCC Covered List exemption, ScoutDI’s compliance with its onshoring plan, the integration of ScoutDI’s technology and operations with Beam Global, the development of new product capabilities like autonomous operations, potential sales to existing and new customers, and expected growth and opportunities in the drone market.

These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. These risks and uncertainties include, among others, the possibility that the parties may not complete the proposed acquisition; that Beam may be unable to obtain sufficient financing on acceptable terms or at all, or that any financing may result in dilution to existing stockholders; that applicable closing conditions may not be satisfied; that the acquisition or proposed U.S. manufacturing activities may require governmental notices, reviews, approvals or modifications to ScoutDI’s existing onshoring plan; that ScoutDI’s Conditional Approval or FCC Covered List exemption may be modified or terminated; that anticipated manufacturing, integration, customer and other benefits may not be realized; and that actual market conditions and growth may differ from third-party estimates. Additional risks and uncertainties are described in Beam Global’s filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other filings with the SEC.

There can be no assurance that the proposed acquisition will be completed on the contemplated terms or at all. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

Investor Relations
Luke Higgins
+1 858-261-7646
IR@BeamForAll.com

Media Contact
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/24fa4feb-f805-4068-8ed8-0e619ce3b24f