• Evirontek Integrated Platform: A suite of electrical power generation technologies designed to reduce electricity costs for the cryptocurrency mining industry.
• Spine Injury Diagnostic Services: Medical services focused on diagnosing various spine injuries.
• Quad Video Halo video recording system: A system developed, owned, and leased for recording medical procedures.

Major Customers of Bimergen Energy (BESS)

Bimergen Energy (operating as Spine Injury Solutions, Inc.) primarily sells to other companies and organizations. Its major customer categories are:

• Cryptocurrency Mining Companies: For its Evirontek Integrated Platform designed to reduce electricity costs in the cryptocurrency mining industry.
• Healthcare Providers and Medical Facilities: This includes hospitals, clinics, and surgical centers, which are customers for its spine injury diagnostic services and for leasing/using the Quad Video Halo video recording system for medical procedures.

Benjamin Tran - Executive Chairman

Benjamin Tran currently serves as the Executive Chairman of Bimergen Energy. Prior to October 2025, he held the roles of Chairman and CEO of the company since its inception. He is a corporate strategist, investor, and financial partner with over 25 years of experience in the formation and growth of emerging growth technology companies, with expertise in M&A, private equity, venture capital, merchant banking, technology marketing, and international business development. Mr. Tran has served as an Independent Board Director of CyberScope Web3 Security. From February 2021 to April 2022, he was a Senior Capital Market Advisor for Iveda Solutions, Inc., assisting with IPO financing and uplisting to Nasdaq. From 2018 to 2021, Mr. Tran co-founded and chaired CBMD.com, a physician-based phytoscience company specializing in pain management. He also served as CFO of Stock Navigators from 2018 to 2019. Currently, he is a managing partner at United System Capital, a private equity advisory firm, and was previously a managing member of CleanTek Venture Capital. Mr. Tran was also the CEO of Bitech Mining Corporation, which was acquired by Spine Injury Solutions, Inc., leading to the formation of the current Bimergen Energy.

Cole Johnson - Co-CEO & President

Cole Johnson was appointed Co-Chief Executive Officer of Bimergen Energy, effective October 21, 2025, while continuing in his role as President. He brings nearly two decades of experience in the energy industry, with extensive expertise in business operations and financial strategy within the battery energy storage system (BESS) sector. Mr. Johnson has a proven history of driving revenue and achieving profitable growth.

Bob Brilon - Co-CEO & CFO

Bob Brilon was appointed Co-Chief Executive Officer of Bimergen Energy, effective October 21, 2025, and continues to serve as the Chief Financial Officer. He has also been a Board Director since 2021. Mr. Brilon possesses extensive financial and operational experience, having served as CFO, CEO, and in other executive capacities for several publicly traded companies. His past roles include CFO for Iveda Solutions, President and CFO of New Gen Management Services, and CFO and Executive Vice President of Brain State Technologies. He has also served as CFO of MD Helicopters and as CEO, President, and CFO of InPlay Technologies (formerly Duraswitch). Mr. Brilon is a certified public accountant and previously worked with prominent accounting firms such as McGladrey Pullen, Ernst and Young, and Deloitte and Touche.

Roy Bao - CTO

Roy Bao serves as the Chief Technology Officer of Bimergen Energy. He was appointed to this role in April 2022 when the company was operating as Spine Injury Solutions, Inc. Mr. Bao is noted for his vast engineering experience and vision, contributing to the definition of the company's technology roadmap and the achievement of new revenue milestones.

For the public company Bimergen Energy (symbol: BESS), a clear emerging threat is the **rapid evolution and potential contraction of the cryptocurrency mining industry.** This includes the increasing adoption of energy-efficient consensus mechanisms (such as Proof-of-Stake by major cryptocurrencies), global regulatory scrutiny and potential restrictions on energy-intensive mining operations, and the inherent volatility of cryptocurrency markets which can lead to prolonged periods of unprofitability for miners. These trends could significantly diminish the market demand for BESS's specialized electrical power generation technologies, which are intended to reduce the high cost of electricity for cryptocurrency mining.

Bimergen Energy (symbol: BESS) is a utility-scale Battery Energy Storage System (BESS) asset owner, project developer, and independent power provider. The company, which was formerly known as Spine Injury Solutions, Inc. until April 2022, is currently in a development stage and has not yet commenced commercial operations or generated revenue as of December 31, 2025.

Expected drivers of future revenue growth for Bimergen Energy over the next 2-3 years include:

1. Successful Project Development and Commercialization of BESS Assets: A primary driver will be the advancement of its portfolio of Battery Energy Storage System projects from the development stage to commercial operation. Bimergen Energy currently controls approximately 1.965 GW of BESS and 1.640 GW of solar capacity projects at various development stages. Bringing these projects online is critical for initiating revenue generation.

2. Securing Long-Term Offtake and Tolling Agreements: The company plans to generate stable revenue through long-term contracted tolling agreements with major energy trading entities or institutional financial firms. These agreements are structured to include guaranteed floor payments and potential upside profit sharing from the operation of their BESS projects.

3. Expansion of BESS Project Pipeline and Capacity: Growth will be driven by expanding its existing 2 GW BESS project pipeline and developing additional capacity across various power markets, such as ERCOT, PJM, WECC, and MISO. This expansion is supported by the accelerating demand for grid stability driven by renewable energy integration, increased electrification, and the significant energy needs of AI data centers.

4. Revenue from Ancillary Services and Energy Arbitrage: Once operational, Bimergen Energy's BESS assets are expected to generate revenue by providing high-value ancillary services (such as frequency regulation, voltage control, and spinning reserves) and through energy arbitrage (buying electricity when prices are low and selling when high) in wholesale electricity markets. These strategies capitalize on increasing price volatility and the critical need for grid flexibility.

5. Monetization through Project Sales: Beyond long-term operations, Bimergen Energy also intends to generate revenue through the strategic sale of developed BESS and solar projects. This provides an additional avenue for monetizing its development efforts and assets.

Share Issuance

• Bimergen Energy completed an underwritten public offering on February 20, 2026, raising $13.6 million in gross proceeds through the sale of common stock and accompanying warrants to fund battery energy storage system projects and for general working capital.
• On April 2, 2026, a prospectus supplement was filed to register the resale of 3,100,000 shares of common stock and accompanying warrants, alongside pre-funded warrants for up to 300,000 shares.
• As part of the acquisition of Emergen Energy on April 24, 2024, Bimergen Energy issued 1,587,300 unregistered shares of its common stock to C&C Johnson Holdings LLC.

Inbound Investments

• A joint venture with RelyEZ (a battery supplier) includes a commitment of up to $50 million to develop up to 2 GW of Battery Energy Storage Systems (BESS) through 2027, with an initial $10 million already funded.
• Bimergen has secured up to $250 million in mezzanine financing, comprising $50 million from a Rely-EZ subsidiary and $200 million from Cox, a European energy company, which are expected to unlock up to $1 billion in senior secured debt for capital expenditures.
• The company plans to leverage project-level funding arrangements, potential tax equity financing, and long-term debt financing for its projects, further benefiting from Investment Tax Credits (ITC) of up to 50%.

Outbound Investments

• On March 5, 2026, Bimergen Energy acquired eight late-stage 9.9 MW distributed generation BESS projects in Texas, totaling 79.2 MW, from Aggreko, financed through its joint venture with RelyEZ.
• The company completed the acquisition of Emergen Energy, LLC on April 24, 2024, in exchange for 1,587,300 unregistered shares of its common stock, valued at $22.2 million.

Capital Expenditures

• Proceeds of $13.6 million from the February 2026 public offering are designated for funding battery energy storage system projects and general working capital needs.
• Bimergen is actively developing a pipeline of approximately 2 GW of BESS projects, with plans for several projects totaling around 500 MW to commence construction in Q2 2026.
• The company estimates capital expenditures of approximately $125 million for every 100 MW of storage capacity developed.