Brenmiller’s Project Pipeline Expands to 49 Projects Representing Over $500 Million in Potential Value in 12 Industries Across 13 Countries
Brenmiller Energy, a leading thermal energy storage developer, announced substantial growth in its project pipeline as of May 1, 2024. The company is engaged in 49 potential projects across 12 industries and 13 countries, representing over $500 million in value and more than 6,000 MWh of zero-emission heat. Major countries involved include the U.S., Spain, Hungary, Israel, and India. Brenmiller's bGen™ ZERO TES technology, which converts renewable electricity into process heat, is key to these developments. Approximately two-thirds of the projects involve equipment sales, while the remaining third follow the Energy-as-a-Service model.
CEO Avi Brenmiller highlighted that some projects are in advanced negotiation stages, with expectations of two to four converting into revenue-generating contracts soon. The company's technology aims to replace fossil fuel boilers at industrial and power plants, addressing nearly a quarter of global emissions.
- 49 potential projects valued over $500 million.
- Project pipeline spans 12 industries and 13 countries.
- Over 6,000 MWh of zero-emission heat represented.
- Major countries include U.S., Spain, Hungary, Israel, and India.
- Two-thirds of projects are equipment sales; one-third Energy-as-a-Service.
- Technology converts renewable electricity into process heat.
- Expectations of 2-4 projects advancing to revenue-generating contracts soon.
- Technology addresses nearly a quarter of global emissions.
- No binding contracts have been secured yet.
- Potential delays in converting advanced-stage projects into contracts.
- Dependence on successful negotiations with major companies.
Insights
Brenmiller Energy Ltd. has expanded its project pipeline to 49 projects worth over
The financial implications are significant, not just in terms of potential revenue but also for long-term stability. The diversified project pipeline across multiple industries reduces reliance on any single sector, thereby mitigating risks. The focus on zero-emission heat aligns with global sustainability trends, potentially attracting ESG (Environmental, Social and Governance) focused investors, which could positively impact stock price.
It's also important to note that while nearly two-thirds of the projects involve equipment sales, one-third follow an Energy-as-a-Service model. This hybrid approach allows for recurring revenue streams, improving financial predictability and stability. Investors should monitor the conversion of these proposals into binding contracts, as they will directly affect the company's financial health and stock performance.
The substantial growth in Brenmiller's project pipeline highlights a critical shift in market dynamics. Companies across diverse industries are increasingly investing in renewable energy solutions to comply with stringent global climate policies. Brenmiller’s bGen™ ZERO TES technology is well-positioned to capitalize on this trend, offering modular, scalable and highly configurable zero-emission heat solutions.
The geographic diversification, with significant shares in the U.S., Spain, Hungary, Israel and India, indicates the company's extensive market reach and robust strategy. Each region presents unique market conditions and regulatory landscapes and Brenmiller’s ability to adapt its offerings to these varying conditions is a strong indicator of its market adaptability and potential for growth.
However, while the pipeline is promising, the actual conversion to binding contracts will be the ultimate test of market acceptance and the company’s operational capacity. Investors should watch for updates on these conversions to gauge the company's ability to translate these opportunities into actual revenue.
Brenmiller's proprietary bGen™ ZERO technology stands out due to its innovative approach in the thermal energy storage (TES) market. By using crushed rocks to store renewable electricity and dispatching steam, hot water, or hot air, this technology addresses the need for reliable, scalable and modular zero-emission heat solutions. These features make it particularly valuable for industries like chemicals, pharmaceuticals and energy, where continuous, reliable heat supply is crucial.
The modularity and configurability of bGen™ ZERO are significant advantages, enabling customized solutions for diverse industrial needs. This adaptability could lead to higher adoption rates as industries look for personalized, effective solutions to meet their decarbonization goals. Moreover, replacing fossil fuel boilers with TES technology can significantly reduce operational costs and emissions, providing a compelling value proposition for potential clients.
The success of this technology will depend on its scalability and integration into existing industrial processes. Continuous updates on technological advancements and successful case studies will be important indicators of its market viability and will help in building investor confidence.
- 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
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U.S. ,Spain ,Hungary ,Israel , andIndia represent largest geographic share of pipeline projects
ROSH HA’AYIN,
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
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
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240517659552/en/
Media:
Tori Bentkover
brenmillerenergy@antennagroup.com
Source: Brenmiller Energy Ltd.
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