May. 29 at 10:44 AM
$BESS 8-K numbers from the FPUSA deal:
•
$1.18M reimbursement due ~June 4
•
$5.69M total fees + milestones (some due July 15)
• Net to Bimergen ~
$5.05M after
$643K acquisition cost
• 7.5% equity retained in JV
The JDA includes exclusive rights for FPUSA on future Bimergen ERCOT projects four hours or greater. Meaning Bimergen cannot run a competitive auction…instead prioritizes relationship with a well-capitalized partner (FPUSA). NFI read the 8-K yourself.