| Work Detail |
Bimergen Energy Corporation, a developer of large-scale battery energy storage systems (BESS) and independent power provider, has officially begun trading under its new symbol, BESS, effective today. The company is positioning itself to benefit from the growing demand for energy storage solutions that help stabilize an aging power grid and reduce energy price fluctuations. Bimergen specializes in developing and owning utility-scale BESS projects. Once operational, these systems will store excess energy during periods of low demand and resell it during peak hours to enhance grid stability. The company secures long-term energy offtake agreements with institutional partners who manage daily trading operations. This model ensures reliable grid performance, reduces price volatility, and allows Bimergen to generate stable, contract-backed revenue. The U.S. energy storage market is expanding rapidly, with a record-breaking 8.7 gigawatts (GW) deployed in 2024—a 90% year-over-year growth. Analysts at Wood Mackenzie project that global energy storage capacity will increase by over 600%, reaching nearly 1 terawatt (TW) by 2033. This surge is driven by factors such as the need for reliable power, supportive regulations, growing microgrid adoption, the rise of electric vehicles, and the increasing energy demands of AI data centers. Benjamin Tran, Bimergen Energy CEO, said in a statement, “Our new trading symbol, BESS, was purposefully selected since it symbolizes our paramount commitment to the fastest-growing sector of the renewable energy industry today – Battery Energy Storage System (BESS). With a robust BESS project pipeline, extensive field experience, significant investment tax credits, and ironclad relationships with local government and industry leaders alike, Bimergen Energy hopes to ride the wave of the industry momentum to capitalize on these trends. We aim to bring to market the most technologically advanced and durable energy storage solutions, paving the way for meaningful daily impact in our energy consumption while expecting to generate cash flow consistently upon commercial operations.” The U.S. BESS market is expected to reach $31.36 billion by 2032, while globally, the market could grow to between $120 billion and $150 billion by 2030, according to McKinsey. As renewable energy sources like solar and wind become more prominent, battery storage plays a crucial role in balancing energy supply and ensuring a steady power flow. With increasing global investment in energy storage, BESS technology is key to transitioning from fossil fuels to clean energy solutions. Bimergen is backed by an experienced leadership team and a strong strategic vision, positioning itself as a long-term player in this rapidly expanding sector. |
