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Brenmiller Energy Ltd. Regains Compliance with Nasdaq Minimum Closing Bid Price Rule

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Brenmiller Energy Ltd. (BNRG) has received a written notice from Nasdaq that it has regained compliance with the minimum bid price requirement for continued listing. The company provides Thermal Energy Storage systems to global industrial and utility markets.
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The announcement by Brenmiller Energy that it has regained compliance with Nasdaq's minimum bid price requirement is a positive signal to the market regarding the company's financial stability. This compliance is critical because it ensures that the company can maintain its listing on a major stock exchange, which is often seen as a hallmark of a company's legitimacy and appeal to institutional investors.

From a financial perspective, meeting the minimum bid price is a relief to current shareholders as it averts the risk of delisting, which can lead to decreased liquidity and investor confidence. In the short-term, this news may result in a positive uptick in investor sentiment, potentially leading to a more stable or increased stock price. In the long-term, continued compliance with exchange requirements is essential for attracting new investors and maintaining access to capital markets.

However, it is important to note that while regaining compliance is a positive development, it is not necessarily indicative of the company's operational performance or long-term financial health. Investors should consider this event in the context of the company's overall financial condition and market performance.

Regaining compliance with Nasdaq's minimum bid price is particularly significant for a clean energy company like Brenmiller Energy. The clean energy sector is highly competitive and capital-intensive, with success often hinging on a company's ability to innovate and scale up technologies. Maintaining a listing on a reputable exchange like Nasdaq provides the visibility needed to attract partnerships and customers.

For stakeholders, this news could be seen as a reflection of the company's potential to stabilize and grow in the burgeoning clean energy market. However, it is essential to scrutinize the underlying drivers that led to the non-compliance issue initially. If the bid price challenge was due to broader market trends rather than company-specific issues, this may be less concerning. Conversely, if the root causes were internal, stakeholders would expect clear strategies for sustainable growth and profitability.

Understanding the nuances of Thermal Energy Storage systems and their market adoption is crucial in evaluating Brenmiller Energy's prospects. TES technology is a key component in the transition to renewable energy, providing a solution for intermittency issues. The company's success in this domain could have significant implications for the clean energy sector's trajectory.

ROSH HA’AYIN, Israel--(BUSINESS WIRE)-- Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a clean energy company that provides Thermal Energy Storage (“TES”) systems to global industrial and utility markets, today announced that it has received a written notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities, including the Company's ordinary shares, to maintain a minimum bid price of $1.00 per share.

The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ordinary shares on Nasdaq was at $1.00 per share or greater for the 10 consecutive business days prior to the date of the notice. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), and Nasdaq considers the prior bid price deficiency matter now closed.

About Brenmiller Energy Ltd.

Brenmiller Energy delivers scalable thermal energy storage solutions and services that allow customers to cost-effectively decarbonize their operations. Its patented bGen thermal storage technology enables the use of renewable energy resources, as well as waste heat, to heat crushed rocks to very high temperatures. They can then store this heat for minutes, hours, or even days before using it for industrial and power generation processes. With bGen, organizations have a way to use electricity, biomass and waste heat to generate the clean steam, hot water and hot air they need to mold plastic, process food and beverages, produce paper, manufacture chemicals and pharmaceuticals or drive steam turbines without burning fossil fuels. For more information visit the company’s website at https://bren-energy.com/ and follow the company on X (formerly Twitter) and LinkedIn.

Media Contact:

Tori Bentkover

brenmillerenergy@antennagroup.com

Source: Brenmiller Energy Ltd.

FAQ

What is the company name and ticker symbol mentioned in the press release?

The company mentioned in the press release is Brenmiller Energy Ltd. and its ticker symbol is BNRG.

What does Brenmiller Energy Ltd. do?

Brenmiller Energy Ltd. is a clean energy company that provides Thermal Energy Storage systems to global industrial and utility markets.

What is the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2)?

The minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2) requires listed securities, including the Company's ordinary shares, to maintain a minimum bid price of $1.00 per share.

How did Brenmiller Energy Ltd. regain compliance with Nasdaq Listing Rule 5550(a)(2)?

Brenmiller Energy Ltd. regained compliance with Nasdaq Listing Rule 5550(a)(2) after the closing bid price of the Company's ordinary shares on Nasdaq was at $1.00 per share or greater for the 10 consecutive business days prior to the date of the notice.

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