Beam Global to Acquire Drone Company for U.S. Manufacturing Efforts

SAN DIEGO, Sept. 22, 2026 /CourierPR/ -- Beam Global, a leading provider of innovative and sustainable infrastructure solutions for energy storage and security, electrification of mobility, and smart city infrastructure, has announced a non-binding Letter of Intent with a vertically integrated European drone technology company. The target company 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 proposed acquisition, once finalized, is expected to evolve Beam Global into a vertically integrated drone and AI-enhanced drone software company, significantly advancing the Company’s diversified technology platform and expanding its footprint in defense, infrastructure, and other key industries. The agreement remains subject to due diligence, negotiation, and execution of definitive agreements, and other customary closing conditions, with no assurance that the acquisition will be completed on the contemplated terms or at all.

Beam Global’s management believes that the intended acquisition is a highly advantageous evolution of its current business because the target company is already producing and selling drones and software internationally to Fortune Global 500 and other significant companies. The target company has a drone product that has received Conditional Approval from the U.S. Department of War, which remains effective subject to compliance with the target company’s U.S. onshoring plan and updated government vetting of the product. Beam Global intends to manufacture the product in the U.S. following the completion of the acquisition, thus complying with the onshoring requirement.

The target company’s drone product has also been exempted by the FCC from its Covered List as a result of the Conditional Approval, allowing the drones to be sold in the U.S. Beam Global’s customers include the U.S. Army, U.S. Marine Corps, the U.S. Department of War, the U.S. Navy, the British Ministry of Defence, and conglomerates and corporate entities in oil and gas, maritime, agriculture, mining, and many other industries. On June 6, 2025, President Trump signed the “Unleashing American Drone Dominance” executive order, directing federal agencies to prioritize the integration of U.S.-manufactured unmanned aircraft systems (UAS) over foreign-manufactured UAS and directing the Department of War to prioritize procurement of Section 848-compliant drones made by U.S. companies.

The target company’s products are well positioned for U.S. government and other regulated markets once domestic manufacturing is established and applicable regulatory and procurement requirements are satisfied. Beam has manufactured battery systems for unmanned aerial, ground, and marine platforms for ten years, and the U.S. Army, U.S. Marine Corps, and the Pentagon are customers of Beam. Beam expects that manufacturing the drones in its U.S. facilities, which are already equipped with capabilities and infrastructure to assemble the products, will support the target company’s U.S. onshoring plan and potential U.S. market opportunities, subject to applicable regulatory and procurement requirements.

Following the acquisition, Beam will pursue the provision of drone technology to its current clients while continuing to support its current drone customers. 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 controls roughly 40% of the global drone market, and Europe accounts for nearly 27% of the global market. The Drone market has been one of the fastest-growing markets globally due to an increase in defense, public safety, industrial inspection, and delivery applications.

This planned acquisition will be, in the view of CEO Desmond Wheatley, one of the most significant strategic advances in the company’s history and central to the strategy the company has been pursuing for some time. The acquisition will bring the Company’s established technology into the drone industry and further advance its diversified technology platform. Wheatley believes that the company is ideally positioned to become a leader in the drone industry because of its depth of experience in developing and manufacturing complex, patented technology solutions for mobility, energy, and smart cities infrastructure. Drones represent a natural extension of the company’s expertise, and its existing customer base includes military, government, and commercial customers that the company believes will be potential customers for the acquired drone technology. By bringing this technology to the U.S. and manufacturing it here while integrating it with its advanced proprietary energy, mobility, and infrastructure technology, the company envisions an opportunity to build a differentiated platform for a rapidly developing market. For a decade, Beam has made the batteries that power other people’s drones; the company intends to lead with its own airframe and an incredibly robust software platform designed for the harshest conceivable environments.

The target company’s products are well positioned for U.S. government and other regulated markets once domestic manufacturing is established and applicable regulatory and procurement requirements are satisfied. Beam expects that manufacturing the drones in its U.S. facilities, which are already equipped with capabilities and infrastructure to assemble the products, will support the target company’s U.S. onshoring plan and potential U.S. market opportunities, subject to applicable regulatory and procurement requirements. Following the acquisition, Beam will pursue the provision of drone technology to its current clients while continuing to support its current drone customers.