Bimergen Energy completes acquisition of Energy Storage Project; shares up

Bimergen Energy

03/03/2026 11:48

** Shares of power producer Bimergen Energy  BESS.A gains 7% to $3.50 premarket

** Company acquires eight late-stage 9.9 MW distributed generation (DG) battery energy storage projects from Aggreko's IPP Solutions business, positioned in the ERCOT South region of Texas

** The projects are positioned to provide essential grid stability, support renewable integration, and address accelerating power demand

** Five projects are anticipated to achieve In Service Date (ISD) in late 2026, with the remaining three expected in early 2027

** Bimergen plans to award construction contracts for the projects in the near future

** The acquisition is financed through Bimergen's JV with RelyEZ and the projects use RelyEZ's lithium-based utility-scale batteries

** Up to last close, BESS down ~70% YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((dharna.bafna@thomsonreuters.com))