Bimergen Energy Corporation (NYSE: BESS), 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.
BESS moved up in price 13 cents, or 3.6%, to $3.78.
