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Bimergen Energy (OTCQB: BESS) announced its new trading symbol 'BESS', reflecting its focus on Battery Energy Storage System projects. The company develops utility-scale BESS projects to purchase and store surplus energy during low-cost periods and resell during peak demand.
The company secures long-term energy offtake agreements with institutional partners for grid stability and revenue generation. The U.S. energy storage industry saw remarkable growth in 2024, deploying 8.7 GW, a 90% year-over-year increase.
Market projections indicate:
- Global storage capacity to expand 600% to nearly 1 terawatt by 2033
- U.S. BESS market to reach $31.36 billion by 2032
- Global BESS market potential of $120-150 billion by 2030
Growth drivers include reliable energy needs, regulatory support, microgrid development, EVs, rural electrification, and AI data centers.
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