Bimergen Energy Board Authorizes Warrant Buyback Program

NEWPORT BEACH, CA, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation (NYSE American: BESS) (“Bimergen”), a U.S. energy infrastructure developer, owner and operator, announces that its Board of Directors has authorized an open-market warrant repurchase program to buyback any or all its publicly traded warrants (Ticker: BESSWS).

The program aims to opportunistically deploy capital to reduce future equity dilution while capitalizing on the then current market pricing. Under the authorization, the Company may purchase warrants from time to time on the open market, through block trades, or via privately negotiated transactions in each case in compliance with applicable federal securities laws, including Sections 9(a)(2) and 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules thereunder, SEC rules and regulations, and NYSE American requirements. The timing and actual volume of repurchases will depend on prevailing market conditions, liquidity, and trading volumes and applicable regulatory requirements as determined by management. The program does not obligate the Company to acquire any specific amount of warrants and may be suspended or discontinued at any time.

"We have not yet established brokerage accounts to execute the authorized warrant buyback," said Bob Brilon, Co-CEO of Bimergen Energy. "By the Board authorizing this open-market buyback program, we as management, can be ready to efficiently use our cash positions to reduce potential dilution, optimize our equity architecture, and build long-term value for our common stockholders as appropriate."

“Closing transactions for high-quality battery energy storage projects is our focused strategy,” said Cole W. Johnson, Co-CEO of Bimergen Energy. “The flexibility of the buyback program and reduction of equity overhang is viewed as a positive by current and potential strategic partners.”

About Bimergen Energy Corporation

Bimergen Energy Corporation (NYSE American: BESS) is a U.S.-based renewable energy developer, asset owner and operator focused on utility-scale battery energy storage system (BESS) projects. The operating revenue generation comes from buying energy at lower off-peak prices and selling them back to the same grid at higher peak prices. Bimergen develops and operates infrastructure designed to enhance grid stability and support the integration of renewable generation across key U.S. markets, maintaining a diversified pipeline and partnering with institutional capital providers to advance projects through construction and long-term operation. Learn more at www.Bimergen.com.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Bimergen Energy Corporation’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Bimergen Energy Corporation undertakes no duty to update such information except as required under applicable law.

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