Bimergen Awards Construction Contract for 40 MW / 80 MWh Texas Battery Energy Storage System to TruGrid

Rhea-AI Summary

Bimergen (NYSE American: BESS) awarded an EPC construction contract to TruGrid for eight Texas battery projects totaling 40 MW / 80 MWh across Port Lavaca, Corpus Christi, Victoria, and McAllen.

Bimergen said it acquired eight late-stage 9.9 MW distributed generation projects in ERCOT South, is advancing an additional 2 GWh pipeline (about $150 million revenue), and targets $300–$400 million annual energy arbitrage revenue within three to four years.

Positive

• Construction contract awarded to TruGrid for 40 MW / 80 MWh Texas portfolio
• Acquisition of eight late-stage 9.9 MW DG projects in ERCOT South
• 2 GWh pipeline under development representing approximately $150 million revenue
• Corporate target of $300–$400M annual energy arbitrage revenue in 3–4 years

Negative

• None.

News Market Reaction – BESS

+5.88%

1 alert

+5.88% News Effect

+$1M Valuation Impact

$20M Market Cap

0.1x Rel. Volume

On the day this news was published, BESS gained 5.88%, reflecting a notable positive market reaction. This price movement added approximately $1M to the company's valuation, bringing the market cap to $20M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Texas BESS capacity: 40 MW / 80 MWh Number of DG projects: 8 projects Project size per DG site: 9.9 MW +5 more

8 metrics

Texas BESS capacity 40 MW / 80 MWh Construction contract awarded to TruGrid for Texas projects

Number of DG projects 8 projects Late-stage 9.9 MW distributed generation BESS in ERCOT South

Project size per DG site 9.9 MW Each late-stage distributed generation battery project

Development pipeline 2 GWh Additional BESS projects in development pipeline

Development revenue $150 million Revenue represented by 2 GWh BESS development pipeline

Energy arbitrage target (low) $300 million Annual energy arbitrage revenue goal in 3–4 years

Energy arbitrage target (high) $400 million Upper end of annual energy arbitrage revenue goal

52-week high vs price 84.11% below Current price versus 52-week high for BESS

Market Reality Check

Price: $2.80 Vol: Volume 85,255 is 50% of t...

low vol

$2.80 Last Close

Volume Volume 85,255 is 50% of the 20-day average 170,417, suggesting muted trading interest pre-announcement. low

Technical Shares at $2.72 are trading below the 200-day MA of $7.37 and 84.11% under the 52-week high.

Peers on Argus

Sector peers show mixed-to-negative moves, with names like CLNV and REVVF down -...

Sector peers show mixed-to-negative moves, with names like CLNV and REVVF down -2.5% and -5.71% while others are flat, pointing to company-specific drivers for BESS rather than a broad sector rotation.

Historical Context

5 past events · Latest: Mar 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 12	Growth strategy update	Positive	+0.0%	Outlined $2B growth strategy from ~2.0 GW development pipeline across U.S. markets.
Mar 03	Project acquisition	Positive	+0.9%	Completed acquisition of eight late-stage DG battery projects totaling 79.2 MW in ERCOT South.
Feb 24	Project advancement	Positive	-8.8%	Advanced Redbird 100 MW / 400 MWh Texas battery project with JDA acceptance and tech selection.
Feb 23	Public offering close	Negative	-8.8%	Closed $13.6M public offering of stock and warrants at $4.00 per unit.
Feb 20	Offering pricing & listing	Negative	-39.1%	Priced $13.6M underwritten offering at $4.00 with warrants ahead of NYSE American listing.

Pattern Detected

Positive project and strategy updates have produced mixed reactions, while financing/offering headlines have generally aligned with negative price moves.

Recent Company History

Over the past month, Bimergen moved from its NYSE American uplisting and public offering to a series of project and strategy updates. The company priced an offering at $4.00 per share and warrant, raising about $13.6 million, which coincided with notable share price declines. Subsequent news highlighted advancing the 100 MW / 400 MWh Redbird project and acquiring 79.2 MW of late-stage distributed storage in ERCOT South. A recent LD Micro presentation outlined a $2 billion growth strategy from a ~2.0 GW pipeline, consistent with today’s Texas construction contract milestone.

Market Pulse Summary

The stock moved +5.9% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +5.9% in the session following this news. A strong positive reaction aligns with the company’s pattern of investors rewarding asset growth and execution milestones, as seen after the 79.2 MW ERCOT acquisition. However, the stock trades 84.11% below its 52-week high and well under the $7.37 200-day MA, suggesting prior dilution and listing events weighed heavily. Investors would need to weigh the growing 2 GWh pipeline and targeted $300–$400 million arbitrage revenues against execution and financing risks highlighted in past offerings.

Key Terms

battery energy storage systems, bess, distributed generation, ercot, +3 more

7 terms

battery energy storage systems technical

"developer, owner, and operator of utility-scale and distributed battery energy storage systems (BESS)"

Large, grid-connected rechargeable battery systems that store electricity for later use, like a giant household battery for cities or power plants. They matter to investors because they help balance supply and demand, enable more renewable energy, reduce outage risk, and create revenue through services such as selling stored power at peak times or participating in grid stability programs, while requiring upfront capital and having performance limits tied to lifespan and degradation.

bess technical

"battery energy storage systems (BESS) across the United States"

BESS stands for Battery Energy Storage System, a technology that stores electricity for later use. Think of it as a large rechargeable battery that can hold excess power generated during times of low demand and release it when usage is high, helping balance supply and demand. This is important for investors because it supports the stability of energy grids, enables the integration of renewable sources, and can create new opportunities for profitability in the energy market.

distributed generation technical

"8 late-stage 9.9 MW distributed generation (DG) battery energy storage projects"

Electricity produced close to where it is used rather than at a large, central power plant—examples include rooftop solar, small wind turbines, and local gas generators. For investors, distributed generation matters because it can change how power is bought and sold, reduce demand for traditional utility services, create new revenue streams for installers and technology providers, and expose assets to different regulatory and reliability risks, like a neighborhood adding many home solar systems.

ercot technical

"strategically positioned in the ERCOT South region of Texas"

The Electric Reliability Council of Texas (ERCOT) is the organization that operates and balances the bulk electric grid for most of Texas, acting like an air-traffic controller that matches electricity supply and demand across the state and runs the wholesale power market. Investors care because ERCOT’s decisions, grid reliability, and market prices directly affect the revenues, costs, and risk exposure of utilities, energy producers, large consumers, and companies whose operations depend on stable, affordable power.

epc technical

"provides engineering, procurement, and construction (EPC) as well as operations"

An EPC (engineering, procurement and construction) contract is a single agreement where a contractor designs a project, buys the materials and builds it, then hands over a finished, ready-to-use facility—much like hiring a general contractor to deliver a completed house. For investors, EPCs matter because they concentrate responsibility for cost, schedule and delivery with the contractor, affecting a company’s revenue visibility, cash needs and exposure to construction or performance risks.

o&m technical

"engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services"

O&M stands for "operations and maintenance," which includes the day-to-day activities needed to keep a business, project, or system running smoothly. For investors, understanding O&M costs helps gauge how efficiently a company manages its resources and maintains its assets, ultimately affecting profitability and long-term stability. Think of it like the ongoing expenses required to keep a car running reliably.

energy arbitrage financial

"strategic goal of achieving $300 to $400 million in annual energy arbitrage revenue"

Energy arbitrage is the practice of buying electricity or fuel when prices are low and selling or using it when prices are higher, often by storing energy in batteries or scheduling flexible demand. Like buying groceries on sale to use later, it turns price swings into profit or savings. Investors care because it creates a predictable revenue stream and affects the value and returns of storage, generation and grid-related businesses by capturing price differences across time or places.

AI-generated analysis. Not financial advice.

Newport Beach, CA, March 19, 2026 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation (NYSE American: BESS, BESS.WS), a developer, owner, and operator of utility-scale and distributed battery energy storage systems (BESS) across the United States, today announced the Company has awarded the construction contract to TruGrid, a leading energy storage and solar company that provides engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services.

The Texas-based projects include projects in Port Lavaca, Corpus Christi, Victoria, and McAllen, totaling 40 megawatts (MW) / 80 megawatt hours (MWh). Bimergen acquired 8 late-stage 9.9 MW distributed generation (DG) battery energy storage projects strategically positioned in the ERCOT South region of Texas.

“By partnering with experienced EPC providers like TruGrid, we can bring these projects online efficiently while delivering forward-looking solutions that strengthen the grids and create lasting value.” said Cole Johnson, Bimergen Energy Co-CEO.

“Securing this contract soon after the acquisition reflects our team’s disciplined execution, industry connections, and clear focus on advancing development assets into operating assets, thus delivering meaningful value for our shareholders,” added Bob Brilion, Co-CEO of Bimergen Energy.

TruGrid’s scope of work includes all engineering activities, as well as civil, structural, and electrical construction.

“Being selected by Bimergen for these projects reflects the importance of partnering with an EPC provider that delivers true bankability and certainty of execution,” said Chris Finley, TruGrid Chief Commercial Officer. “At TruGrid, our focus is on consistent, best-in-class project delivery that brings projects online safely, on time, and on budget. These assets are critical to strengthening grid reliability and flexibility across Texas, and our team is committed to executing at a level that gives our partners and stakeholders full confidence in the outcome.”

For more information about TruGrid, please visit www.trugridpower.com

Bimergen is advancing a robust development pipeline of an additional 2 GWh in BESS projects, representing approximately $150 million in revenue from project development. These projects underpin the company’s strategic goal of achieving $300 to $400 million in annual energy arbitrage revenue within the next three to four years.

About Bimergen Energy Corporation

Bimergen Energy Corporation (NYSE American: BESS, BESSWS) is a U.S.-based independent power producer specializing in the development, ownership, and operation of standalone battery energy storage systems (BESS). Bimergen develops utility-scale and distributed storage projects designed to provide grid reliability, renewable integration, and flexible energy solutions. Bimergen manages the full project lifecycle, including site selection, permitting, engineering, procurement, construction, and operations. Its portfolio spans multiple power markets across the United States.

For more information about Bimergen Energy, please visit www.bimergen.com.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Bimergen Energy Corporation’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Bimergen Energy Corporation undertakes no duty to update such information except as required under applicable law.

Media Contact:

Dave Gentry
RedChip Companies Inc.
1-407-644-4256 | 1-800-REDCHIP (733-2447)
BESS@redchip.com

FAQ

What did Bimergen (BESS) announce on March 19, 2026 about the Texas battery projects?

Bimergen announced a construction contract with TruGrid for 40 MW / 80 MWh of Texas projects. According to the company, the projects span Port Lavaca, Corpus Christi, Victoria, and McAllen and cover eight late-stage DG battery projects.

How many individual projects comprise the 40 MW / 80 MWh portfolio for BESS in Texas?

The portfolio comprises eight late-stage distributed generation projects, each ~9.9 MW. According to the company, these projects are positioned in the ERCOT South region across four Texas locations.

What is TruGrid’s role in Bimergen’s Texas battery projects (BESS)?

TruGrid will perform full EPC and O&M scope, including engineering and civil, structural, and electrical work. According to the company, TruGrid is responsible for bringing the projects online safely, on time, and on budget.

What revenue does Bimergen expect from its additional 2 GWh development pipeline?

Bimergen expects approximately $150 million in revenue from the additional 2 GWh pipeline. According to the company, these projects support its larger commercial targets and development plans.

What is Bimergen’s financial target for energy arbitrage revenue and over what timeframe?

Bimergen targets $300–$400 million in annual energy arbitrage revenue within the next three to four years. According to the company, this target is underpinned by its advancing development pipeline and recent acquisitions.

Will the TruGrid contract accelerate Bimergen (BESS) projects into operation?

Bimergen expects the TruGrid award to speed project commercial commissioning through EPC execution. According to the company, partnering with an experienced EPC helps advance development assets into operating assets for shareholders.