EXECUTIVE SUMMARY

U.S.-based battery storage developer and IPP firm, Bimergen Energy Corporation has acquired a 79.2 MW portfolio of late-stage distributed generation (DG) energy storage projects in Texas from UK-based energy solutions provider, Aggreko.

The portfolio consists of 8 projects of 9.9 MW capacity each, located in the ERCOT South region, Texas. The transaction was completed together with a financing arrangement through Bimergen’s joint venture (JV) with RelyEZ, which also plans to supply lithium-based utility-scale battery systems for the projects.

According to the project timeline, 5 of the 8 battery storage projects are expected to reach in-service date (ISD) in late 2026, while 3 projects are scheduled to achieve ISD in early 2027. Once operational, the BESS systems are designed to provide grid services including frequency regulation, voltage support, energy arbitrage and peak capacity support within the ERCOT market.

According to the company, the construction contracts for the projects are expected to be awarded in the near term. Advancing the projects into the construction phase forms part of the company’s strategy to develop and operate standalone BESS systems in several U.S. power markets.

The ERCOT South region represents one of the fastest-growing electricity markets in the United States. Increasing electricity consumption, grid congestion and higher penetration of variable renewable energy have contributed to demand for flexible energy storage resources capable of responding to short-term fluctuations in supply and demand.

Bimergen Energy Corporation manages the full lifecycle of storage projects including site identification, permitting, engineering, procurement, construction (EPC) and operational management. Its development activities span multiple power markets across the United States.

The addition of the ERCOT South portfolio increases Bimergen’s distributed generation storage pipeline and expands its operational footprint in Texas. The projects are positioned to participate in the ERCOT market by delivering balancing services and capacity support once commercial operations begin.

Cole Johnson, Co-CEO and President of Bimergen Energy, stated that the acquisition and simultaneous closing of eight late-stage 9.9 MW distributed battery storage projects expand the company’s presence in the ERCOT market and enables the projects to progress toward commercial operation and revenue generation.

Bob Brilion, Co-CEO of Bimergen Energy, stated that the transaction expands the company’s distributed battery storage portfolio and integrates advanced-stage DG projects through a simultaneous closing with industry partners.