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Brenmiller Energy to Engage with Entelios to Deploy Sustainable Energy Practices that Optimize Revenue Streams for bGen™ Users in Germany, a Market Estimated to Reach $2.9 Billion by 2028

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Brenmiller Energy (NASDAQ: BNRG) has signed a non-binding LOI with Entelios AG to deploy sustainable energy practices in Germany's industrial sector. The collaboration aims to optimize revenue streams for bGen™ users through Entelios' expertise in flexibility market services and Cross-Market Optimisation platform. Germany's thermal energy storage market is projected to reach $2.9 billion by 2028. The partnership focuses on managing bGen™ systems operations and optimizing energy costs across multiple flexibility markets, facilitating the transition from natural gas to electricity for industrial users. Entelios currently manages over 1 GW of net flexibility from various energy sources.

Brenmiller Energy (NASDAQ: BNRG) ha firmato una lettera di intenti non vincolante con Entelios AG per implementare pratiche di energia sostenibile nel settore industriale della Germania. La collaborazione mira a ottimizzare le fonti di reddito per gli utenti di bGen™ grazie all'esperienza di Entelios nei servizi del mercato delle flessibilità e nella piattaforma di Ottimizzazione Cross-Market. Si prevede che il mercato tedesco dello stoccaggio di energia termica raggiunga $2,9 miliardi entro il 2028. Il partenariato si concentra sulla gestione delle operazioni dei sistemi bGen™ e sull'ottimizzazione dei costi energetici attraverso diversi mercati di flessibilità, facilitando la transizione dal gas naturale all'elettricità per gli utenti industriali. Attualmente, Entelios gestisce oltre 1 GW di flessibilità netta proveniente da varie fonti energetiche.

Brenmiller Energy (NASDAQ: BNRG) ha firmado una carta de intención no vinculante con Entelios AG para implementar prácticas de energía sostenible en el sector industrial de Alemania. La colaboración tiene como objetivo optimizar las fuentes de ingresos para los usuarios de bGen™ a través de la experiencia de Entelios en servicios de mercado de flexibilidad y en la plataforma de Optimización Cross-Market. Se proyecta que el mercado alemán de almacenamiento de energía térmica alcanzará 2,9 mil millones de dólares para 2028. La asociación se enfoca en la gestión de las operaciones de los sistemas bGen™ y en la optimización de los costos energéticos en varios mercados de flexibilidad, facilitando la transición del gas natural a la electricidad para los usuarios industriales. Actualmente, Entelios gestiona más de 1 GW de flexibilidad neta de diversas fuentes de energía.

Brenmiller Energy (NASDAQ: BNRG)는 Entelios AG와 독일 산업 부문에서 지속 가능한 에너지 관행을 구현하기 위한 비구속적 LOI를 체결했습니다. 이 협력은 Entelios의 유연성 시장 서비스와 Cross-Market 최적화 플랫폼에 대한 전문 지식을 통해 bGen™ 사용자의 수익 흐름을 최적화하는 것을 목표로 합니다. 독일의 열 에너지 저장 시장2028년까지 29억 달러에 이를 것으로 예상됩니다. 이 파트너십은 bGen™ 시스템 운영 관리와 여러 유연성 시장에서의 에너지 비용 최적화에 중점을 두며, 산업 사용자들이 천연가스에서 전기로 전환할 수 있도록 합니다. 현재 Entelios는 다양한 에너지원으로부터 1GW 이상의 순 유연성을 관리하고 있습니다.

Brenmiller Energy (NASDAQ: BNRG) a signé une lettre d'intention non contraignante avec Entelios AG pour déployer des pratiques énergétiques durables dans le secteur industriel en Allemagne. Cette collaboration vise à optimiser les flux de revenus pour les utilisateurs de bGen™ grâce à l'expertise d'Entelios dans les services de marché de flexibilité et la plateforme d'optimisation inter-marchés. Le marché allemand du stockage d'énergie thermique devrait atteindre 2,9 milliards de dollars d'ici 2028. Le partenariat se concentre sur la gestion des opérations des systèmes bGen™ et l'optimisation des coûts énergétiques à travers plusieurs marchés de flexibilité, facilitant la transition du gaz naturel à l'électricité pour les utilisateurs industriels. Actuellement, Entelios gère plus de 1 GW de flexibilité nette provenant de diverses sources d'énergie.

Brenmiller Energy (NASDAQ: BNRG) hat ein nicht bindendes LOI mit Entelios AG unterzeichnet, um nachhaltige Energienutzung im Industriesektor Deutschlands zu fördern. Die Zusammenarbeit zielt darauf ab, die Einnahmequellen für bGen™-Nutzer durch das Fachwissen von Entelios im Bereich Flexibilitätsmarkt-Dienste und die Cross-Market-Optimierungsplattform zu optimieren. Der Markt für thermische Energiespeicherung in Deutschland wird voraussichtlich bis 2028 2,9 Milliarden Dollar erreichen. Die Partnerschaft konzentriert sich auf die Verwaltung der Betriebsabläufe von bGen™-Systemen und die Optimierung der Energiekosten in verschiedenen Flexibilitätsmärkten, um den Übergang von Erdgas zu Elektrizität für industrielle Nutzer zu erleichtern. Entelios verwaltet derzeit über 1 GW an Nettoflexibilität aus verschiedenen Energiequellen.

Positive
  • Target market size in Germany projected to reach $2.9 billion by 2028
  • Partnership with established player managing over 1 GW of net flexibility
  • Potential for new revenue streams through energy market programs
  • Implementation of recurring revenue model through Heat as a Service (HaaS)
Negative
  • Agreement is non-binding (LOI stage only)
  • Market capture timeline delayed to 2025-2030

Insights

The partnership between Brenmiller and Entelios represents a strategic move to tap into Germany's growing thermal energy storage market, projected to reach $2.9 billion by 2028. The collaboration combines Brenmiller's thermal storage technology with Entelios' expertise in managing over 1 GW of net flexibility assets. This integration creates a compelling business model that addresses two critical market needs: industrial decarbonization and energy cost optimization.

The Heat as a Service (HaaS) model, coupled with Entelios' cross-market optimization platform, positions Brenmiller to generate multiple revenue streams - from equipment sales, recurring service fees and participation in energy market programs. The partnership's focus on Germany, Europe's dominant thermal storage market, provides significant growth potential, particularly as industries transition from natural gas to electrification.

The strategic alliance strengthens Brenmiller's market position by addressing key implementation challenges in thermal energy storage deployment. Entelios' 14 years of market expertise and sophisticated optimization platform will be important for maximizing the economic benefits of bGen™ systems through intelligent participation in flexibility markets. The partnership enables a comprehensive solution that helps industrial customers navigate the complex transition to renewable thermal energy while optimizing operational costs.

The combination of Brenmiller's advanced TES technology with Entelios' market optimization capabilities creates a unique value proposition in the German market, potentially accelerating industrial decarbonization while maintaining cost competitiveness.

  • Together, Brenmiller Energy, Brenmiller Europe, and Entelios are committed to pioneering sustainable energy practices in the industrial sector in Germany
  • Entelios will deploy its proprietary software, extensive knowledge, and experience in flexibility market services to effectively manage energy costs and maximize revenues for industrial energy users and investors
  • Brenmiller Energy will aim to capture a significant portion of Germany’s electric thermal energy storage market by implementing its unique Heat as a Service (“HaaS”) business model and planned bGen™ equipment sales deployments

ROSH HA’AYIN, Israel--(BUSINESS WIRE)-- Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (“TES”) solutions for industrial and utility customers, together with its recently established joint venture company (“JV”), Brenmiller Europe S.L. (“Brenmiller Europe”), today announced that it has signed a non-binding Letter of Intent (“LOI”) with Entelios AG, a leading flexibility service provider in Germany.

Entelios specializes in the aggregation and trading of decentralized flexible assets. With more than 14 years of expertise in the German energy markets, Entelios manages more than 1 GW of net flexibility from industrial loads, power plants, and large-scale battery energy storage systems (“BESS”). Entelios focuses on maximizing revenues across relevant short-term flexibility markets through its Entelios Cross-Market Optimisation platform. These services are essential for industrial clients and investors in large-scale BESS looking to maximize the value of energy flexibility, enhance operational efficiencies, and integrate renewable energy solutions.

Through the LOI, Brenmiller and Entelios plan to mutually develop business models to manage the operation of bGen™ systems and optimize energy costs by entering into multiple flexibility markets. This setup would allow the supply of renewable thermal energy to industrial users in Germany, aiming to reduce emissions by transitioning from natural gas to electricity. Entelios will serve as an expert in optimization and flexibility management services. According to the Europe Thermal Energy Storage Market Report (2022), Germany’s thermal energy storage market is expected to be the dominant market in Europe, growing to $2.9 billion by 2028.

"Our expertise in TES technologies is extremely advanced. Entelios complements our strengths with its innovative approach, combining advanced software, data management, AI and deep energy market insights. We believe this collaboration will optimize our customers' energy costs and create new revenue streams," said Avi Brenmiller, Chairman and CEO of Brenmiller Energy.

“We are excited to work with Brenmiller, a clear leader in TES technologies as we pursue opportunities to offer industrial sites in Germany a significant reduction in carbon emissions by transitioning from natural gas to electrification. We envision providing comprehensive flexibility management services to Brenmiller Europe’s customers, including strategic energy purchase, algorithmic energy trading, and streamlined supply of ancillary services,” said Entelios’ CEO Fabian Becker. "This collaboration not only benefits our clients but also contributes to the broader integration of renewable energies, enhancing supply security and supporting the long-term development of a sustainable energy system."

Brenmiller aims to capture a significant portion of the electric thermal energy storage market in Germany in the period from 2025 to 2030 and beyond.

Brenmiller Energy delivers low-carbon heat through direct technology sales and a HaaS model. The latter lowers energy transition costs for customers and allows Brenmiller Energy to capture additional recurring revenues through participation in energy market programs.

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.

About Brenmiller Europe, S.L.

Brenmiller Europe is a joint venture between Brenmiller Energy, Viridi RE, and Green Enesys aimed at accelerating the adoption of the innovative bGen™ thermal energy storage technology across Europe. This partnership combines Brenmiller's cutting-edge technology with the renewable energy expertise of European project developers Viridi RE and Green Enesys, who bring an 18-year proven track record in developing, funding, and building over 100 renewable energy projects. For more information, visit Green Enesys and Viridi.

About Entelios AG

Founded in 2010, Entelios is a European pioneer in the field of industrial demand response services with extensive experience in flexibility optimization for complex plants in ancillary services and spot market trading. With proprietary systems, Entelios maximizes its customers' revenues by trading flexibility and intelligently shifting capacity on all relevant short-term markets. The identification of individual flexibility concepts play a decisive role at Entelios.

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 terms of a definitive agreement based on the signed non-binding LOI with Entelios; the benefits of the collaboration for the Company and its clients, including that the Company will be able to maximize revenues and that industrial clients and investors will maximize the value of energy flexibility, enhance operational efficiencies, and integrate renewable energy solutions; Brenmiller Energy’s and Entelios’ plans to mutually develop business models to manage the operation of bGen™ systems and optimize energy costs by entering into multiple flexibility markets; that the collaboration of Brenmiller Energy and Entelios will optimize the Company’s customers' energy costs and create new revenue streams; Germany’s thermal energy storage market is expected grow to $2.9 billion by 2028; and that the Company aims to capture a significant portion of the electric thermal energy storage market in Germany in the period from 2025 to 2030 and beyond. The Company may not enter into or complete a definitive agreement for the proposed activities with Entelios. 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.

Media:

Tori Bentkover

brenmillerenergy@antennagroup.com

Source: Brenmiller Energy Ltd.

FAQ

What is the projected market size for thermal energy storage in Germany by 2028 for Brenmiller Energy (BNRG)?

According to the Europe Thermal Energy Storage Market Report, Germany's thermal energy storage market is expected to reach $2.9 billion by 2028.

What is the partnership between Brenmiller Energy (BNRG) and Entelios AG?

Brenmiller Energy has signed a non-binding LOI with Entelios AG to optimize energy costs and maximize revenues for bGen™ users in Germany through flexibility market services and energy management.

How much flexibility does Entelios currently manage for Brenmiller Energy (BNRG)?

Entelios manages more than 1 GW of net flexibility from industrial loads, power plants, and large-scale battery energy storage systems, though this is their total portfolio, not specific to Brenmiller Energy.

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