Beam Global, Platinum Group Form Joint Venture to Expand into Middle East, Africa

Beam Global (NASDAQ:BEEM) is one of the best solar stocks to buy according to Wall Street analysts. On July 17, Beam Global and Platinum Group formalized their joint venture, called Beam Middle East LLC, during a signing ceremony in Abu Dhabi, UAE. The new entity will be headquartered in the Omniah Tower in Masdar City, which is a sustainable urban community in Abu Dhabi.

Beam Middle East LLC will be a 50/50 joint venture between the two companies. Its purpose is to sell and manufacture Beam Global’s patented sustainable infrastructure solutions for transportation electrification, energy storage, energy security, and smart city development throughout the Middle East and Africa.

Beam Global, Platinum Group Form Joint Venture to Expand into Middle East, Africa

A photovoltaic field at dawn, its solar panels shimmering in the light of a new day.

Beam Global will provide its proprietary technologies, along with support for training, marketing, and procurement. Platinum Group will use its existing relationships and provide business development professionals to manage local sales and establish manufacturing capabilities.

Beam Global (NASDAQ:BEEM) is a clean-technology innovation company that designs, develops, engineers, manufactures, and sells renewably energized infrastructure products and battery solutions in the US and Romania.

While we acknowledge the potential of BEEM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BEEM and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.