Brenmiller’s Project Pipeline Expands to 49 Projects Representing Over $500 Million in Potential Value in 12 Industries Across 13 Countries
May 17 2024 - 8:30AM
Business Wire
- Contract proposals and negotiations with some of the world’s
largest companies, including Fortune 100s, demonstrate Brenmiller’s
robust capability to provide thermal energy storage solutions for
energy-intensive and power-producing industries
- Need for on-demand access to around-the-clock renewable
heat, combined with global climate policies are driving industry
interest in Brenmiller’s bGen™ ZERO thermal energy storage
technology
- U.S., Spain, Hungary, Israel, and India represent largest
geographic share of pipeline projects
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the
“Company”) (Nasdaq: BNRG), the most experienced thermal energy
storage (“TES”) developer worldwide, today reported substantial
growth in its project pipeline which has reached a record level for
the Company. As of May 1, 2024, Brenmiller has a project pipeline
of 49 potential contracts in various stages of development for its
bGen™ ZERO TES systems valued at over $500 million and representing
more than 6,000 MWh of zero-emission heat.
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Brenmiller is advancing potential
projects in 12 industries. Food and beverage, consumer goods,
energy, chemicals, and pharmaceuticals represent the largest share
across 13 countries including the U.S., Spain, Hungary, Israel, and
India. (Graphic: Brenmiller Energy)
Brenmiller is advancing potential projects in 12 industries.
Food and beverage, consumer goods, energy, chemicals, and
pharmaceuticals represent the largest share across 13 countries
including the U.S., Spain, Hungary, Israel, and India.
Approximately two-thirds of the pipeline projects are equipment
sales and one-third will be delivered through an
Energy-as-a-Service model. Nearly all Brenmiller’s pipeline
projects convert renewable electricity into process heat.
Brenmiller’s bGen™ TES technology replaces the need for fossil
fuel boilers at industrial and power plants, which contribute to
nearly one-quarter of all global emissions. It uses crushed rocks
to store low-cost electricity from renewable or other sustainable
sources and dispatches steam, hot water or hot air according to
customers’ needs. Brenmiller’s TES technology is modular and highly
configurable and provides heavy-emitting and mission-critical
customers with scalable access to zero-emission heat while ensuring
24/7 operational reliability.
“The nearly fifty active project proposals, offers and
negotiations our team has going with some of the largest and most
innovative industrials and energy companies is great for business,
but it’s even better for the planet: It reflects both our
customers’ confidence in our ability to deliver and shifting
attitudes toward decarbonization market-wide,” stated Brenmiller’s
Chairman and CEO, Avi Brenmiller. “Several of these projects are in
advanced stages of negotiations and we anticipate that two to four
of them may advance into binding, revenue-generating contracts in
the coming quarters.”
About bGen™
bGen™, Brenmiller’s TES system, converts electricity into heat
to power sustainable industrial processes at a price that is
competitive with natural gas. The bGen™ charges by capturing
low-cost electricity from renewables or the grid and stores it in
crushed rocks. It then discharges steam, hot water or hot air on
demand according to customer requirements. The bGen™ also supports
the development of utility-scale renewables by providing critical
flexibility and grid-balancing capabilities. bGen™ was named among
TIME’s Best Inventions of 2023 in the Green Energy category.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power
producers end their reliance on fossil fuel boilers. Brenmiller’s
patented bGen™ thermal battery is a modular and scalable energy
storage system that turns renewable electricity into zero-emission
heat. It charges using low-cost renewable electricity and
discharges a continuous supply of heat on demand and according to
its customers’ needs. The most experienced thermal battery
developer on the market, Brenmiller operates the world’s only
gigafactory for thermal battery production and is trusted by
leading multinational energy companies. For more information visit
the company’s website at https://bren-energy.com/ and follow the
company on X (formerly Twitter) and LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and other federal securities laws.
Statements that are not statements of historical fact may be deemed
to be forward-looking statements. For example, the Company is using
forward-looking statements in this press release when it discusses:
the Company’s project pipeline of 49 potential contracts in various
stages of development for its bGen™ ZERO TES systems; such
potential projects can potentially be valued at over $500 million
and representing more than 6,000 MWh of energy; the Company is
advancing potential projects in 12 industries, with food and
beverage, consumer goods, energy, chemicals and pharmaceuticals
representing the largest share across 13 countries including the
U.S., Spain, Hungary, Israel and India; that nearly fifty active
project proposals, offers, and negotiations with some of the
largest and most innovative industrial and energy companies
demonstrate the need for the Company’s TES solution and customers’
confidence in the Company’s ability to deliver; and that the
Company anticipates that between two to four of the potential
projects may advance into binding, revenue generating contracts
over the coming quarters. . Without limiting the generality of the
foregoing, words such as “plan,” “project,” “potential,” “seek,”
“may,” “will,” “expect,” “believe,” “anticipate,” “intend,”
“could,” “estimate” or “continue” are intended to identify
forward-looking statements. Readers are cautioned that certain
important factors may affect the Company’s actual results and could
cause such results to differ materially from any forward-looking
statements that may be made in this press release. Factors that may
affect the Company’s results include, but are not limited to: the
Company’s planned level of revenues and capital expenditures; risks
associated with the adequacy of existing cash resources; the demand
for and market acceptance of our products; impact of competitive
products and prices; product development, commercialization or
technological difficulties; the success or failure of negotiations;
trade, legal, social and economic risks; and political, economic
and military instability in the Middle East, specifically in
Israel. The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties, many of
which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s Annual Report on
Form 20-F for the year ended December 31, 2023 filed with the SEC
on March 18, 2024, which is available on the SEC’s website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240517659552/en/
Media: Tori Bentkover
brenmillerenergy@antennagroup.com
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