Frontier Power USA selects 400 MWh Wildfire project from Bimergen

Frontier Power USA ("FPUSA") has selected the Wildfire BESS Project, a 100 MW / 400 MWh battery energy storage project in Caldwell County, Texas, sourced from Bimergen Energy Corporation (NYSE American: BESS), according to a press release from the companies.

The project is expected to utilize Eos Energy Enterprises (Nasdaq: EOSE) Z3 long-duration batteries. Closing remains contingent on the execution of definitive documentation and the successful closing of Eos's previously announced rights offering.

The Wildfire selection brings FPUSA's total closed or selected battery storage capacity to approximately 1.8 GWh, representing about 90% of its 2 GWh capacity reservation agreement with Eos. The portfolio includes a previously closed 480 MWh ERCOT-based portfolio from Bimergen and four projects totaling 920 MWh selected under a separate framework with Stella Energy Solutions.

FPUSA's equity capital base includes a commitment from funds managed by Cerberus Capital Management, a $50 million direct equity commitment from Hudson Bay Capital subject to certain conditions, and proceeds from the Eos rights offering. Hudson Bay's broader $125 million commitment includes $75 million invested into Eos to support Eos's investment in FPUSA.

KKR Capital Markets LLC has been engaged to support long-term project financing across the platform, targeting investment-grade financing solutions including construction financing, tax credit-related financings, and long-term project finance.

FPUSA also reported visibility on approximately 4 GWh of additional near-term pipeline opportunities across multiple markets.

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