Bimergen Energy Secures $50 Million for Battery Energy Storage Project Development

Rhea-AI Summary

Bimergen Energy (OTCQB: BESS) has secured a $50 million capital commitment for battery energy storage project development through 2027. The company's subsidiary, Emergen Energy LLC, has formed a joint venture with a battery storage systems manufacturer to develop, construct, and operate up to 2 GW of utility-scale battery storage projects across the United States.

The financing includes an initial $10 million tranche already received, which will be used for long-lead items procurement and securing permanent debt financing. The investment is supported by U.S. Investment Tax Credits (ITC) for utility-scale storage projects and increasing demand from AI data centers.

Positive

• Secured $50 million capital commitment with $10 million already received
• Joint venture to develop up to 2 GW of utility-scale battery storage projects through 2027
• Strong debt financing proposals and offtake term sheets from top-tier financial institutions
• Benefits from ongoing U.S. Investment Tax Credits (ITC) support
• Strategic positioning to capture growing AI data center demand

Negative

• Mezzanine financing structure may indicate higher cost of capital
• Project execution dependent on successful permanent debt financing
• Significant capital requirements for planned 2 GW development pipeline

Newport Beach, CA, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation [OTCQB: BESS], (“the Company” or “Bimergen”), a developer of utility-scale battery energy storage solutions and an independent power provider, today announced that it has secured the $50 million capital commitment to build out and add to their portfolio. Emergen Energy LLC, a wholly owned subsidiary of Bimergen, and our equity financing partner, a battery energy storage systems manufacturer have formed a joint venture that will conduct the business operations.

The mezzanine financing is designed to allow Emergen to develop, construct, and operate up to 2 GW of utility-scale battery energy storage projects across the U.S. through 2027. The commitment totals $50 million, with the first $10 million tranche already received. These funds will advance the procurement of long-lead items and position the joint venture to secure permanent debt financing for upcoming battery energy storage systems (BESS) projects. This investment underscores strong confidence in the long-term economic future of the renewable energy storage sector.

“This financing provides our joint venture, with this equity financing partner, the resources to secure safe harbor equipment. By locking in our equipment providers under safe harbor provisions, we are ensuring cost certainty for investors and supply chain reliability for our partners. Together, these steps strengthen the foundation for the successful execution of upcoming projects”, said Bob Brilon, CFO of Bimergen Energy.

“This significant milestone that is anticipated to drive our growth through ongoing project development. It will also enable us to reach several upcoming milestones aimed at commencing construction on our chosen projects in the near future,” said Cole Johnson, President of Bimergen Energy.

The investment landscape for energy storage is notably strong within the larger renewable energy sector, supported by the ongoing availability of U.S. Investment Tax Credits (ITC) for utility-scale storage projects, coupled with a surging demand for AI data centers across the country. These credits for battery energy storage system facilities, which continue to receive solid support from the federal government, present substantial incentives for investors and developers alike. Given this favorable situation, Bimergen has strategically focused its efforts on advancing late-stage projects that are set to launch operations in the near future. This proactive strategy is further emphasized by a wave of debt financing proposals and offtake term sheets from top-tier financial institutions, reflecting strong confidence in our initiatives.

About Bimergen Energy Corporation

Bimergen Energy Corporation [OTCQB: BESS] is a utility-scale Battery Energy Storage System (BESS) asset owner, project developer, and independent power provider focused on capitalizing on the demand for critical power grid stability and reducing energy price volatility. The Company owns development stage BESS projects with a cumulative energy capacity of approximately 2 GW. The company secures project financing and oversees construction of the energy storage projects, partnering with institutional counterparties to manage daily energy trading operations under long-term offtake agreements ensuring stable, contract-backed revenue. For more information, please visit www.bimergen.com

Cautionary Note Regarding Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s filings with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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

FAQ

How much funding did Bimergen Energy (BESS) secure for its battery storage projects?

Bimergen Energy secured a $50 million capital commitment, with the first $10 million tranche already received for battery storage project development.

What is the development capacity target for Bimergen Energy's battery storage projects?

Bimergen Energy aims to develop, construct, and operate up to 2 GW of utility-scale battery storage projects across the U.S. through 2027.

How will Bimergen Energy (BESS) use the new funding?

The funding will be used to advance procurement of long-lead items and position the joint venture to secure permanent debt financing for upcoming battery energy storage systems projects.

What market factors support Bimergen Energy's battery storage development plans?

The project is supported by U.S. Investment Tax Credits (ITC) for utility-scale storage projects and increasing demand from AI data centers across the country.

Who are the partners in Bimergen Energy's new joint venture?

The joint venture is between Emergen Energy LLC (Bimergen's subsidiary) and an unnamed battery energy storage systems manufacturer as the equity financing partner.