Bimergen Energy Completes Acquisition of 79.2 MW of Late-Stage DG Battery Energy Storage Projects in ERCOT South from Aggreko and Executes Simultaneous Financing

Newport Beach, CA, March 03, 2026 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation (NYSE:BESS, BESSWS)), a developer, owner, and operator of utility-scale and distributed battery energy storage systems (BESS) across the United States, today announced the acquisition of eight late-stage 9.9 MW distributed generation (DG) battery energy storage projects from Aggreko's IPP Solutions business, strategically positioned in the ERCOT South region of Texas. The acquisition of these development projects further demonstrates the strength of Bimergen's growth strategy. The acquisition was financed through Bimergen's JV with RelyEZ. The projects will use RelyEZ's lithium-based utility-scale batteries.

The portfolio represents approximately 79.2 MW of total nameplate capacity and quickly expands Bimergen's advanced development pipeline. Five projects are anticipated to achieve In Service Date (ISD) in late 2026, with the remaining three expected in early 2027. The projects are strategically positioned to provide essential grid stability, support renewable integration, and address accelerating power demand in one of the nation's fastest-growing and most capacity-constrained energy markets.

Bimergen plans to award construction contracts for the projects in the near future, advancing the portfolio into the build phase and reinforcing the Company's execution momentum toward commercial operation.

"The acquisition and simultaneous closing of these eight late-stage 9.9 MW DG projects represents a major milestone for Bimergen and significantly strengthens our presence in the high-opportunity ERCOT market," said Cole Johnson, Co-CEO and President of Bimergen Energy. "Closing these assets with our financing parties underscores the depth of our industry relationships and our ability to efficiently advance strategically positioned projects toward near-term revenue generation."

"This transaction highlights the scalability of our distributed storage strategy and the alignment we have built with our industry partners," added Bob Brilion, Co-CEO of Bimergen Energy. "By incorporating these advanced-stage DG assets into our portfolio in a simultaneous closing, we are positioning Bimergen to capture substantial value while contributing meaningfully to Texas' evolving energy landscape."

ERCOT South continues to experience robust demand for flexible energy resources driven by economic growth, industrial expansion, and rising renewable penetration. Bimergen's expanded distributed generation footprint aligns with the Company's strategy to develop, own, and operate standalone BESS projects that provide critical services including frequency regulation, voltage support, energy arbitrage, and peak capacity support.

About Bimergen Energy Corporation

Bimergen Energy Corporation (NYSE: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.

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