Brenmiller Energy: Key Insights Ahead of Conference Presentation on February 18, 2025

Rhea-AI Summary

Brenmiller Energy (BNRG) is preparing for significant growth in 2025, backed by a commercial pipeline valued at over $440 million for its bGen™ ZERO thermal energy storage (TES) solutions. The company has established strategic partnerships and expanded its market presence, with over 50% of its pipeline originating in Europe.

Key developments include a joint venture with Green Enesys and Viridi through Brenmiller Europe S.L., and notable projects such as a 30 MWh system for Partner in Pet Food Hungaria KFT and a 32 MWh system for Tempo. The company has secured a manufacturing agreement with TUTCO Heating Solutions Group and an exclusive distribution partnership with Rock Energy Storage in North America, where the pipeline has grown from $150M to $210M.

Brenmiller recently introduced bGen ZTO, targeting an $8B market opportunity in industrial thermal oil applications, with commercial availability planned for 2026. The company has already identified eight commercial projects worth approximately $170M for this new technology.

Positive

• Commercial pipeline valued at over $440 million
• North American pipeline growth from $150M to $210M
• New bGen ZTO technology targeting $8B market opportunity
• Secured 12-year HaaS agreement with PPF expected to reduce gas consumption by 30%
• Tempo project expected to save $7.5M in energy costs over 15 years

Negative

• bGen ZTO commercial availability delayed until 2026

Insights

Market Research Analyst

The thermal energy storage market is experiencing a paradigm shift, with Brenmiller Energy strategically positioning itself at the intersection of industrial decarbonization and energy cost optimization. The company's $440 million commercial pipeline, while impressive, represents just the tip of the iceberg in a rapidly expanding market projected to grow at 23% CAGR through 2030.

The company's dual-pronged business model, combining direct technology sales with Heat as a Service (HaaS), creates a compelling value proposition. The HaaS model, exemplified by the 12-year agreement with PPF, establishes predictable recurring revenue streams while lowering barriers to adoption for industrial clients. This approach could significantly accelerate market penetration, particularly in Europe where energy price volatility and decarbonization mandates are driving demand.

The introduction of bGen ZTO technology targeting an $8 billion market opportunity in industrial thermal oil applications represents a strategic pivot into high-value sectors. The early identification of $170 million in potential projects suggests strong market validation, though successful commercialization in 2026 will be important for maintaining momentum.

The manufacturing partnership with TUTCO Heating Solutions Group addresses a critical scaling challenge, providing the production capacity necessary to serve Fortune 500 clients. This operational readiness, combined with the expanded U.S. pipeline through Rock Energy Storage (now at $210 million), positions Brenmiller to capitalize on increasing industrial electrification demands across major markets.

However, investors should note that pipeline values don't necessarily translate directly to secured revenue, and market penetration will depend on successful project execution and technology validation at scale. The company's ability to maintain its competitive edge in a growing market will be important for long-term success.

Nir Brenmiller, COO of Brenmiller Energy, will present live at the Emerging Growth Conference on Tuesday, February 18, 2025, at 10:15 AM EST.

TEL AVIV, Israel--(BUSINESS WIRE)-- Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (Nasdaq: BNRG), a leading global energy provider of thermal energy storage ("TES") solutions to industrial and utility markets, is proud to provide key Company insights and accomplishments ahead of planned 2025 industry conference attendances, including at the Emerging Growth Conference on February 18, 2025, at 10:15 AM EST. Register for this live event HERE.

Brenmiller Energy is entering 2025 with an unprecedented surge in demand for its bGen™ ZERO TES technology, a pipeline of commercial opportunities valued at over $440 million, and the infrastructure to transform industrial heat consumption. The Company’s manufacturing capacity, strategic partnerships and commercial deployments provide a strong foundation for accelerated growth in 2025 and position it to play a key role in the TES market.

Market Penetration and Strategic Partnerships Driving Growth

Over 50% of Brenmiller's commercial pipeline originates in Europe, where demand for lower and more predictable energy prices remains an urgent priority. The Company's diversified business model—offering both direct technology sales and Heat as a Service (“HaaS”)—enhances its ability to capitalize on evolving energy market dynamics.

The formation of Brenmiller Europe S.L., a joint venture with renewable energy developers Green Enesys and Viridi, is expected to drive rapid adoption across the continent. One notable project includes a 30 MWh bGen™ ZERO system for Partner in Pet Food Hungaria KFT (PPF), one of Europe’s largest private-label pet food manufacturers. This system is expected to reduce PPF’s gas consumption by up to 30%, significantly cutting energy costs and emissions while generating recurring revenue for Brenmiller under a 12-year Heat as a Service (HaaS) agreement. In Germany, a partnership with Entelios AG positions Brenmiller to capture a share of the country’s projected $2.9 billion TES market by 2028.

Beyond Europe, Brenmiller's collaboration with Tempo, a major beverage producer partly owned by Heineken International B.V., signals further momentum for clean industry. The 32 MWh bGen™ ZERO system will replace Tempo’s fossil fuel boilers; it is projected to save the manufacturer over $7.5 million in energy costs over 15 years and cut carbon emissions by 6,200 tons annually. Additional agreements, such as Brenmiller’s $3.55 million project with Wolfson Hospital, further demonstrate the Company’s expanding footprint and demand for its technology.

Brenmiller’s manufacturing agreement with TUTCO Heating Solutions Group, a subsidiary of a £5.6 billion industrial technology leader, also ensures a robust supply chain and enhances production capabilities. This operational scale-up positions and, as importantly, enables Brenmiller to potentially serve Fortune 500 companies and large-scale industrial clients looking to integrate TES for cost savings and efficiency.

In North America, Brenmiller's exclusive distribution agreement with Rock Energy Storage has accelerated its expansion into the U.S. market. Since mid-2024, the companies have increased their commercial pipeline from $150 million to over $210 million, with multiple commercial opportunities in advanced stages of development.

Targeting 2025 Opportunities for TES and Industrial Electrification

Industry projections from Energy Storage News show that energy storage is set to grow at a 23% compound annual growth rate (“CAGR”) through 2030, fueled by favorable incentives and grid modernization efforts. With geopolitical shifts emphasizing energy independence, and a continued focus on sustainability in most of the world, Brenmiller is uniquely positioned to capitalize on:

• A diversified global presence, reducing market risk and opening revenue streams across multiple regions;
• Commercial-scale rollout of bGen™ ZERO to serve increasing global TES adoption
• Performance-based revenue models that ensure financial scalability and create additional income streams;
• ESG tailwinds in key global markets are strengthened as industries accelerate clean energy adoption to meet tightening regulations;
• Strategic capital allocation that leverages institutional confidence and project-based financing to fuel expansion.
• Expanding Market Reach with bGen ZTO

Brenmiller recently unveiled the bGen ZERO Thermal Oil™ (bGen ZTO), a revolutionary TES system designed to electrify industrial thermal oil applications. Set for commercial availability in 2026, bGen ZTO addresses an $8 billion market opportunity, targeting industries such as pharmaceuticals, chemicals, petrochemicals, and food processing—sectors that predominantly rely on fossil fuel-powered thermal oil heating.

By delivering nearly 100% cycle efficiency with minimal maintenance requirements, bGen ZTO would offer industrial customers a zero-emissions alternative to conventional fossil fuel heating systems. The Company has already identified eight commercial projects worth approximately $170 million, indicating strong early demand for this innovation.

Positioned for Long-Term Success

As global markets seek to transition away from fossil fuels, Brenmiller is emerging as a leader in reliable solutions for clean industry. Its cutting-edge bGen™ technology, growing global footprint, and strategic partnerships reinforce its potential to drive sustainable industrial electrification worldwide. With a strong commercial pipeline and expanding revenue streams, Brenmiller believes it is positioned for sustained growth and long-term shareholder value creation.

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 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: future demand of the Company’s bGen™ ZERO TES technology; the Company’s pipeline of commercial opportunities valued at over $440 million; the Company’s ability to deliver up to 4 GWh of TES annually; the Company’s future global footprint and its ability to play a key role in the TES market, the Company’s predicted accelerated growth in 2025; the Company’s ability to capitalize on evolving energy market dynamics; the benefits that the Company’s technology will produce for its customers; the Company’s ability to capture a share of the Germany’s projected $2.9 billion TES market by 2028; the Company’s future business opportunities in 2025; the commercialization of bGen ZTO by 2026 and its estimated addressable market and benefits; the Company’s position as a leader in affordable and reliable solutions for clean industry; and its ability to create future growth and long-term shareholder value. 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 crucial 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. The Company may not ultimately reach any definitive agreements related to bGen ZTO and the projects in the Company’s commercial pipeline may not occur. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250214866260/en/

Media:

Tori Bentkover

brenmillerenergy@antennagroup.com

Source: Brenmiller Energy Ltd.

FAQ

What is the current value of Brenmiller Energy's (BNRG) commercial pipeline?

Brenmiller Energy's commercial pipeline is valued at over $440 million, with over 50% originating in Europe.

When will Brenmiller Energy's (BNRG) bGen ZTO technology be commercially available?

The bGen ZTO technology is scheduled for commercial availability in 2026.

How much has BNRG's North American pipeline grown since mid-2024?

BNRG's North American pipeline has grown from $150 million to over $210 million since mid-2024.

What are the projected cost savings for Tempo from BNRG's 32 MWh bGen™ ZERO system?

The system is projected to save Tempo over $7.5 million in energy costs over 15 years and reduce carbon emissions by 6,200 tons annually.

How many commercial projects has BNRG identified for its new bGen ZTO technology?

BNRG has identified eight commercial projects worth approximately $170 million for the bGen ZTO technology.