Company Summary: Bimergen Energy Corporation

Business Focus

• The company is a renewable energy project developer specializing in utility-scale Battery Energy Storage System (BESS) and solar energy projects.
• Its primary objective is to become a grid-balancing operator by developing, owning, and operating diversified renewable energy assets.
• Focuses on addressing grid stability and integrating renewable energy (solar and wind) into existing electrical grids by providing energy storage and dispatch solutions.

Core Business Activities

• Development of utility-scale BESS projects designed to:
  • Store excess renewable energy during periods of low demand.
  • Dispatch stored energy during periods of high demand for energy arbitrage.
  • Provide ancillary grid services such as frequency regulation, voltage support, emergency backup, and peak shaving.
• Development of solar energy projects to complement BESS, with plans to support higher renewable penetration.
• Utilizes advanced Energy Management Systems (EMS) and partner collaborations to optimize project dispatch and performance.

Project Portfolio

• Acquired in April 2024 a portfolio of development-stage projects from Emergen Energy LLC:
  • 23 BESS projects totaling an estimated 1.965 GW of storage capacity.
  • 13 solar projects with an anticipated 1.640 GW capacity.
• Current pipeline includes approximately 3.6 GW of projects across regions serviced by ISO entities such as ERCOT, WECC, PJM, and MISO.
• Most advanced projects (Redbird and Wildfire) are ready to begin financing and construction.

Business Strategy & Opportunities

• Partners with Tier-1 equipment suppliers, utilities, and power purchasers.
• Aims to secure multi-year customer contracts prior to project construction.
• Focused on expanding development pipeline, with a goal to exceed 5 GW of active projects in 3-5 years.
• Seeks to capitalize on the growth of BESS industry driven by renewable integration, grid stability needs, and electric vehicle (EV) and data center demands.

Market & Industry Context

• The BESS industry has seen substantial growth:
  • 96% increase in capacity in 2023 (Energy Storage News, March 2024).
  • Projections indicate growth exceeding 30 GW of battery capacity by end of 2024.
• Key regional markets include Texas (noted for land cost and market activity), California, ERCOT, PJM, and others.
• BESS markets support:
  • Renewable energy integration.
  • Peak demand reduction.
  • Emergency backup power.
  • Reduced reliance on fossil fuels.

Financial Highlights

• As of December 31, 2024:
  • No revenue has been generated from core operations.
  • Net loss for 2024 was $2,757,687 (up from $920,418 in 2023).
  • Total current liabilities were $1,756,985 and current assets $1,028,877.
  • Working capital was negative $728,108.
  • Total stockholders’ equity at year-end was $21,494,092.
  • The company has a total of 5,139,704 shares outstanding (after reverse split).
• The company is still in development stage with substantial losses and no proven revenue yet.
• Has not achieved profitable operations to date and continues to incur significant expenses related to project development and administrative costs.

Staffing & Employees

• As of December 31, 2024:
  • 6 employees in executive or managerial roles:
    • 3 full-time employees.
    • 3 contracted consultants.
  • No unionized employees.

Additional Details

• The company has no current revenue, with expenses largely associated with project development, general & administrative costs, and stock-based compensation.
• Focuses on development, financing, and pursuit of project milestones.
• No significant ongoing legal or regulatory proceedings affecting current operations.
• Planning to improve internal controls and cybersecurity measures, but currently manage risks without mature processes in place.

In summary, Bimergen Energy Corporation is an emerging renewable energy project developer focusing on large-scale BESS and solar projects, aiming to address grid stability and renewable integration challenges in regional U.S. energy markets. The company is currently in the development stage, with no revenue reported and significant losses, but has a substantial project pipeline and strategic partnerships aligned with industry growth trends.