Bimergen Energy Cancels 25% of Shares to Boost Shareholder Value

Newport Beach, CA, June 30, 2025 – Bimergen Energy Corporation [OTCQB: BESS], a burgeoning developer of utility-scale battery energy storage projects, announced a significant corporate action aimed at enhancing shareholder value through the cancellation of 1,287,694 shares, representing approximately 25.1% of the company's total outstanding shares prior to this decision. This move follows a favorable ruling from the Superior Court of California regarding shareholder litigation that commenced in 2023.

According to Benjamin Tran, Chairman and CEO of Bimergen Energy, "We’re very happy with this result and continue to focus our efforts towards Battery Energy Storage Systems (BESS) and believe that the cancellation of these shares will greatly benefit all of our shareholders moving forward. We are also grateful for their patient support and continued trust in our corporate actions.” This reduction in shares is expected to streamline the company’s capital structure and is a strategic response to the burgeoning demand for energy storage solutions in the current U.S. energy landscape.

Bimergen Energy has recently concentrated its efforts on operationalizing projects that align with its projected timelines. The decision to eliminate these shares comes at a critical juncture as the investment climate for energy storage is notably favorable, prompted by the increasing urgency surrounding the U.S. national energy emergency. The company asserts that Battery Energy Storage Systems play a pivotal role in ensuring grid stability and addressing energy price volatility, thus meeting the intensifying demand for reliable energy solutions.

As of now, Bimergen Energy Corporation is positioned as a utility-scale Battery Energy Storage System asset owner and project developer, overseeing 23 development-stage BESS projects with a cumulative energy capacity of about 2 gigawatts (GW). In addition to its battery projects, the company also manages 13 development-stage solar energy projects, expected to generate a cumulative capacity of 1.640 GW.

The company’s operational strategy includes securing project financing and managing construction while partnering with institutional entities to oversee daily energy trading operations under long-term offtake agreements. This approach ensures stable, contract-backed revenue streams, which are critical for the company’s growth trajectory.

Recent trends show that the energy storage market is poised for significant expansion, driven by the increasing adoption of renewable energy sources and the need for grid resilience. According to a report by the International Renewable Energy Agency (IRENA), the global battery energy storage capacity is expected to rise dramatically, further validating Bimergen’s strategic initiatives in this sector.

Looking ahead, Bimergen Energy plans to continue providing updates through its filings and press releases as it navigates the complexities of the energy market and capitalizes on its innovative solutions to meet the evolving energy demands of tomorrow. The cancellation of shares is seen as a crucial step in enhancing shareholder confidence and positioning the company for future growth in an increasingly competitive landscape.

About Bimergen Energy Corporation Bimergen Energy Corporation [OTCQB: BESS] is focused on delivering critical power grid stability through utility-scale Battery Energy Storage Systems and independent power provision. By managing a diverse portfolio of energy projects, the company aims to mitigate energy price volatility and contribute to a sustainable energy future. For further details, visit [www.bimergen.com](http://www.bimergen.com).

Cautionary Note Regarding Forward-Looking Statements This press release may contain forward-looking statements concerning potential business developments and financial performance. All statements other than historical facts are forward-looking, and actual outcomes may differ materially due to various factors. The company undertakes no obligation to update these statements as required by law.

Company Contact Bimergen Energy Corporation Tel: 1.855.777.0888 Email: info@bimergen.com