Beam Global secures $100 million credit facility via OCI Group

By Marisa Wong

Los Angeles, March 23 – Beam Global announced a $100 million line of credit with OCI Group.

The five-year credit facility is priced at SOFR plus 300 basis points.

The company intends to use the funds to provide working capital to support its growth in product orders and deliveries.

OCI and Beam Global have agreed that the $100 million cap can be increased if needed.

San Diego-based Beam Global provides sustainable products and technologies for electric vehicle charging, energy storage, energy security and outdoor media.

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