Bimergen Energy to Sell 480 MWh Energy Storage Portfolio to Frontier Power USA
Bimergen Energy (BESS) signed a deal to sell a 480 MWh portfolio of battery energy storage system development projects to Frontier Power USA.The portfolio comprises three ERCOT-based projects, including two "Texas 10" projects and a 100 MW/400 MWh project with notices-to-proceed expected to begin in the middle of 2026, according to a statement Thursday.Under the agreement, an affiliate of Frontier Power USA will fund 100% of the equity required for construction, pay Bimergen a development fee, and fund transaction expenses following the closing.Frontier Power USA said it will hold a 92.5% ownership interest in the project companies, while Bimergen will retain a 7.5% economic interest. The parties will collaborate to bring the projects to commercial operations.Financial terms of the transaction were not disclosed.Shares of Bimergen Energy rose more than 12% in Thursday trading.Price: $4.66, Change: $+0.52, Percent Change: +12.56%
