Brenmiller Signs MOU with RSP Systems to Boost bGen™ ZERO Sales in the U.S.
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Insights
The strategic partnership between Brenmiller Energy and RSP Systems represents a significant development in the thermal energy storage (TES) market. TES systems like bGen™ are critical for enhancing the efficiency of renewable energy sources by storing excess energy for later use, thereby addressing the intermittency issues associated with solar and wind power. The non-binding MOU signals industry confidence in the scalability of Brenmiller's technology, especially considering RSP Systems' commitment to exclusive distribution in the U.S. Northeast Region.
The proposed tax incentives for TES in the U.S. can potentially accelerate the adoption of such systems, creating a more favorable economic landscape for companies like Brenmiller. The tax incentives could reduce the capital expenditure burden on end-users, thereby increasing the market penetration of bGen™ systems. This development is poised to enhance Brenmiller's commercial footprint in the U.S. and could serve as a catalyst for growth in the TES sector.
The partnership between Brenmiller Energy and RSP Systems aligns with global efforts to transition to low-carbon energy systems. The bGen™ system's ability to store and dispatch energy on-demand makes it a potential game-changer for industrial applications looking to reduce greenhouse gas (GHG) emissions. By integrating TES with existing energy generation systems, like the Capstone turbine project at SUNY Purchase, industries can significantly reduce their carbon footprint.
The environmental impact of such technology is magnified by the recent legislative developments in the U.S., where proposed tax incentives for TES are indicative of a broader policy shift towards supporting green technologies. These incentives could lead to increased investments in TES systems, thereby contributing to the nation's GHG emission reduction targets. For stakeholders, this underlines the importance of regulatory landscapes in shaping the viability and attractiveness of sustainable energy solutions.
From a financial perspective, the MOU between Brenmiller Energy and RSP Systems could be a precursor to a more stable revenue stream for Brenmiller, contingent upon the successful negotiation and execution of definitive agreements. The exclusivity clause suggests a strong commitment from RSP Systems, which could translate into higher sales volume and market share for Brenmiller in the U.S. Northeast. Furthermore, the reference to a gigawatt-scale manufacturing facility indicates Brenmiller's readiness for mass production, which is essential for meeting anticipated demand and achieving economies of scale.
The financial benefits of the proposed tax incentives should not be understated. These incentives may lower the total cost of ownership for end-users and potentially increase the demand for Brenmiller's bGen™ systems. Consequently, investors should monitor the progress of these legislative developments closely, as they could have a material impact on Brenmiller's market opportunity and financial performance in the U.S.
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New York -based RSP Systems, which provides customized on-site energy solutions for customers, would distribute bGen™ in theU.S. Northeast region -
Brenmiller’s
U.S. commercial traction gains momentum following its first bGen™ system installation handover inNew York and new proposedU.S. tax incentives for thermal energy storage
ROSH HA’AYIN,
RSP Systems has been a leader in choosing and implementing award-winning energy generation systems since 2004 and recently began offering the bGen™ to augment customer solutions with essential thermal energy storage.
Cory Glick, RSP Systems’ President commented, “We worked closely with Brenmiller on the bGen™ installation at the State University of
“We look forward to concluding a definitive distribution agreement with RSP Systems and making bGen™ more readily available in the
bGen™, Brenmiller’s thermal battery, 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 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.
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 distribution agreement based on the signed non-binding MOU with RSP Systems, including the conclusion of a definitive distribution agreement with RSP Systems; that RSP Systems would be the exclusive distributor of bGen™ in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240111148027/en/
Media:
Tori Bentkover
brenmillerenergy@antennagroup.com
Source: Brenmiller Energy Ltd.
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