We all know by now that data centers are popping up everywhere there is access to water, cheap power, and strong data infrastructure. Power has become one of the critical bottlenecks in this business, but it has also highlighted just how valuable access to power really is. At the same time, much of the green energy buildout over the past few decades has resulted in a significant amount of what is known as stranded or curtailed power, the difference between power supply and demand. This power has been a major source of cheap energy for bitcoin miners.
But what if there were another way to profit from stranded power at these renewable sites, and even at traditional power generation facilities? Many power plants have excess capacity at certain times of the day, when energy prices fall, followed by predictable periods of higher demand when electricity prices rise. This dynamic creates an opportunity for stationary battery storage, often referred to as Battery Energy Storage Systems, or BESS. Fittingly, Bimergen’s ticker reflects exactly what it does, Battery Energy Storage Systems, BESS.
BESS began as a solar project installer but pivoted to battery energy storage systems in August 2024 after selling its solar portfolio for nearly $20M to fund the transition into a pure-play BESS business. This shift led the company through an extensive due diligence process evaluating numerous opportunities in the space. Ultimately, the company met and brought on Cole Johnson as Co-CEO, who had been developing a portfolio of projects that BESS has since acquired.