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Brenmiller Successfully Completes All Required Tests, Ready to Handover First U.S. bGen™ to SUNY
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Brenmiller Energy Ltd. (Nasdaq: BNRG) successfully completes commissioning of a bGen thermal storage-based co-generation station at State University of New York (SUNY) in partnership with the New York Power Authority. The project is estimated to eliminate approximately 550 metric tons of greenhouse gas emissions per year. The bGen charges using both exhaust gas and electricity and has the potential for broader adoption in New York and across the U.S. The global market for thermal energy storage is predicted to reach over $2 trillion by 2040.
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Completed in partnership with the New York Power Authority, project serves as a demonstration for potential broader bGen adoption to assist New York State in meeting its energy storage and climate action goals
Brenmiller’s bGen is estimated to eliminate approximately 550 metric tons of greenhouse gas emissions per year
ROSH HA’AYIN, Israel--(BUSINESS WIRE)--
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (“TES”), today announced that it has successfully completed commissioning of a bGen thermal storage-based co-generation station at State University of New York (SUNY). Brenmiller will hand over its bGen TES system to SUNY in mid-January, following training. The bGen “charges” using both exhaust gas and electricity and is expected to eliminate approximately 550 metric tons of greenhouse gas emissions annually. Developed and deployed in partnership with the New York Power Authority, the largest state power organization in the U.S., the project was financed in part by a grant from the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation.
Brenmiller’s bGen thermal energy storage system at State University of New York (SUNY) (Photo: Brenmiller Energy)
“Turning over the operation of the first bGen system in the United States is a huge milestone for Brenmiller,” stated Brenmiller’s Chairman and CEO, Avi Brenmiller. “We’ve had a highly productive and rewarding experience working in collaboration with the New York Power Authority and SUNY. The benefits of our bGen, once demonstrated through this project, could enable broader adoption of our thermal energy storage systems in New York and across the U.S.”
According to a study commissioned by the Renewable Thermal Collaborative, thermal batteries deployed at scale have the potential to eliminate nearly 800 million metric tons of emissions per year in the United States. Globally, the market for thermal energy storage is predicted to reach over $2 trillion by 2040, according to McKinsey.
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 bGen at SUNY is expected to eliminate approximately 550 metric tons of greenhouse gas emissions annually; that the bGen demonstrated through this project could enable broader adoption of the Company’s TES systems in New York and across the United States; and the benefits of the Company’s solutions and services to allow customers to cost-effectively decarbonize their operations. 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, 2022 filed with the SEC on March 21, 2023, 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.
What is the ticker symbol for Brenmiller Energy Ltd.?
The ticker symbol for Brenmiller Energy Ltd. is BNRG.
What project did Brenmiller Energy Ltd. complete in partnership with the New York Power Authority?
Brenmiller Energy Ltd. completed the commissioning of a bGen thermal storage-based co-generation station at State University of New York (SUNY) in partnership with the New York Power Authority.
How much greenhouse gas emissions is the project estimated to eliminate per year?
The project is estimated to eliminate approximately 550 metric tons of greenhouse gas emissions per year.
What is the potential for the bGen thermal energy storage system in New York and across the U.S.?
The benefits of the bGen demonstrated through this project could enable broader adoption of thermal energy storage systems in New York and across the U.S.
What is the predicted global market for thermal energy storage by 2040?
The global market for thermal energy storage is predicted to reach over $2 trillion by 2040, according to McKinsey.
