Bimergen achieves $3.9 million Adjusted EBITDA for Q2 2026 ended June 30, 2026
NEWPORT BEACH, CA, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation (NYSE American: BESS) ("Bimergen"), a U.S. energy infrastructure developer and operator, announces that it has reported $7.9 million in revenues for the second calendar quarter of 2026 with net income reported of $1.6 million or $0.22 per share and adjusted EBITDA of $3.9 million.
Bimergen has received $11 million in cash to date related to these recorded revenues for Q2 2026, with an additional $2.6 million to be recorded in Q3 2026 related to the third project, which closed on July 15, 2026. The Company will also receive an additional $2.5 million payment upon the joint venture achieving the notice to proceed (NTP) milestone toward advancing the projects to operation.
Additional consideration from the transactions announced during the quarter includes a 7.5% equity stake in the three projects, which the Company expects to provide meaningful long-term value as the projects advance toward operation. The Company has only recorded $500,000 as a provisional amount in Q2 but expects the conservative appraised fair market value of this 7.5% equity stake to be significantly higher.
Once operational, the battery energy storage projects are expected to generate revenue and gross profit primarily by purchasing power during lower-priced periods and selling power back to the grid during higher-priced periods.
"This last quarter marks an important milestone for Bimergen as we continue to execute our strategy," said Bob Brilon, Co-CEO of Bimergen Energy. "We have received $11 million in cash for our efforts to date, have a $2.5 million in accounts receivable, and while retaining ownership.
Building through strategic partnerships and financial institutions is a core part of our strategy," said Cole W. Johnson, Co-CEO of Bimergen Energy. "We are focused on advancing high-quality battery energy storage projects through these relationships while preserving meaningful long-term upside for our shareholders.
About Bimergen Energy Corporation
Bimergen Energy Corporation (NYSE American: BESS) is a U.S.-based renewable energy developer, asset owner and operator focused on utility-scale battery energy storage system (BESS) projects. The operating revenue generation comes from buying energy at lower off-peak prices and selling them back to the same grid at higher peak prices. Bimergen develops and operates infrastructure designed to enhance grid stability and support the integration of renewable generation across key U.S. markets, maintaining a diversified pipeline and partnering with institutional capital providers to advance projects through construction and long-term operation. Learn more at 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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