Bimergen Energy Corp (NYSE: BESS)

Bimergen Energy Corporation is a renewable energy project developer focused on utility scale battery energy storage systems and solar energy projects in the United States. The company was incorporated in Delaware in 1998 and later changed its name to reflect its current focus on clean energy transition and grid stability. In March 2022 the company acquired Bitech Mining Corporation through a share exchange and subsequently changed its name to Bitech Technologies Corporation. In January 2025 the company effected a reverse stock split and renamed itself Bimergen Energy Corporation to better reflect its focus on energy storage and solar development. As of the latest filing the company has no operating revenue and remains in the development stage of its battery and solar projects. Its primary business objective is to develop construct and operate a diversified portfolio of battery energy storage systems and solar projects to provide grid balancing services and support renewable integration.

Bimergen Energy Corporation intends to generate revenue primarily by entering into long term tolling agreements with institutional traders and utilities that provide floor payments and upside sharing from energy arbitrage and grid services. Revenue may also come from selling stored energy in merchant markets through power purchase agreements or directly to commercial and industrial customers. The company expects to earn additional income from providing frequency regulation voltage support and capacity payments to grid operators. These revenue streams are contingent on securing financing completing construction and obtaining interconnection agreements. Under a typical tolling agreement the offtaker manages daily operations and energy trading while the company retains responsibility for system maintenance and performance. The floor payment in such agreements is designed to cover operating costs and provide downside protection against low market prices. Upside sharing allows the company to benefit from high market prices without directly assuming trading risk. The company is currently in discussions with several investment banks to secure favorable tolling terms for its development projects.

Bimergen Energy Corporation operates in the growing utility scale battery energy storage and solar development sector in the United States. The company competes with independent power producers renewable energy developers and specialized storage firms such as Fluence NextEra Energy Resources and AES Distributed Energy. Bimergen Energy Corporation differentiates itself through its pipeline of development stage projects its relationships with tier one battery suppliers and its focus on long term tolling agreements that aim to provide predictable cash flows. The company’s strategy of pairing battery systems with solar projects and offering grid services such as frequency regulation and voltage support positions it to capture multiple revenue streams in markets with high renewable penetration. The battery energy storage market is driven by the increasing integration of intermittent renewable sources and the need for grid stability services. Federal and state policies that incentivize clean energy adoption and grid modernization further support demand for storage solutions. Bimergen Energy Corporation believes its early stage development portfolio gives it flexibility to adapt to evolving technology and market conditions. The company’s ability to secure multi year contracts before construction enhances its attractiveness to lenders and equity investors.

The company expects to serve utilities commercial and industrial customers and institutional traders such as Goldman Sachs BP and Shell. These customers are anticipated to enter into tolling agreements power purchase agreements or other contracts to acquire stored energy and ancillary services from the company’s projects. In addition to traditional utilities the company sees opportunities with corporate sustainability programs and large industrial consumers seeking reliable power supply. The company has not disclosed any definitive customer contracts as of the filing date but continues to negotiate with potential offtakers. No specific customer names have been disclosed in the filing beyond the general examples provided.