Bimergen Energy Closes Redbird Project Sale, Receives $6.4M Cash

Bimergen Energy Corporation announced the closure of its Redbird BESS Project (100 MW / 400 MWh) and two Texas 10s (80 MWh total) with FPU-BEC Development Topco, an affiliate of Cerberus Capital Management. The company received $6.4 million in cash and expects an additional $2.5 million upon achieving project milestones. Bimergen also retained a 7.5% equity stake in the 480 MWh ERCOT portfolio, providing immediate liquidity and long-term upside. The projects are expected to utilize Eos Energy Enterprises' Z3 long-duration batteries.