Bimergen Energy (BESS) Registration filing summary

Company overview and business model

• Focuses on developing and operating utility-scale Battery Energy Storage System (BESS) and solar projects, with a current pipeline of 1.965 GW BESS and 1.415 GW solar capacity acquired via Emergen Energy LLC.

• Business model centers on buying electricity during off-peak hours, storing it in BESS, and selling it during peak hours for profit, supporting grid stability and reducing carbon emissions.

• Pursues additional revenue through technology integration, joint ventures, and strategic partnerships in the renewable energy sector.

• Offers system integration solutions for commercial, residential, and enterprise customers, including EMS, energy storage, and smart power devices.

Financial performance and metrics

• Reported minimal revenues from primary business for the six months ended June 30, 2024 and 2023; net loss of $1,136,407 for the six months ended June 30, 2024, compared to $454,507 for the same period in 2023.

• For the year ended December 31, 2023, net loss was $811,693, similar to $811,635 in 2022; accumulated deficit of approximately $3 million as of June 30, 2024.

• As of June 30, 2024, working capital was $24,258, with current assets of $1,147,684 and current liabilities of $1,123,426.

• Operations have been primarily funded by equity financing; cash from financing activities has not been sufficient to fund growth strategy.

Use of proceeds and capital allocation

• Net proceeds of approximately $10 million (excluding warrant exercises) are expected, primarily allocated to BESS project asset development, pre-construction costs, and working capital.

• Management retains broad discretion over allocation; proceeds are not earmarked for specific projects and will not be used to pay initial fees to Emergen under the Project Management Services Agreement.