Bimergen Energy Corp. (BESS:NYSE)
BESS has a 2.0 GW portfolio of battery energy storage assets, with management having a longterm goal of reaching 4.0 GW. Of these, we expect 280 MW to become operational by 2028.
Following its recent financing at $4.00/share, the Company has a net cash balance of $8.9M ($1.20/share), compared to its market cap of $28.4M, providing downside protection given that this cash is not required to advance its projects.
As a project manager, the Company’s economics are capital-light and funded by its partners. In approximation, each 100 MW project will cost $125M in capex, up to 60% of which will be wiped away by investment tax credits, and will generate $11M in annual EBITDA once operational.
Bimergen has assembled a high-quality ecosystem of leading strategic partnerships to support its growth.
Management collectively owns 42% of BESS, led by Co-CEO and President Cole Johnson (~24%) and Executive Chairman Benjamin Tran (~15%), providing strong alignment with shareholders.
Investment Summary
Bimergen 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.
Company Description
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