Brenmiller Successfully Hands Over its First bGen™ Thermal Energy Storage System in the U.S. to State University of New York (SUNY)
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Insights
The completion and handover of Brenmiller Energy's first bGen™ installation in the United States, particularly to a State University of New York (SUNY) campus, represents a notable milestone for the company and the energy sector. The ability of the bGen™ system to charge using both exhaust gas and electricity and discharge heat on demand aligns with the growing trend of energy efficiency and reduction of carbon footprint within institutional settings. The reduction of approximately 550 metric tons of greenhouse gas emissions annually is a significant environmental impact, which may serve as a benchmark for future TES projects.
From an investor's perspective, this development could signal Brenmiller Energy's potential for growth and expansion in the U.S. market, which is increasingly supportive of renewable energy and sustainability initiatives. Moreover, the collaboration with the New York Power Authority and the support from the BIRD Foundation may enhance the company's credibility and visibility in the industry. This could potentially lead to an increase in institutional demand for Brenmiller's TES solutions, thereby positively influencing the company's revenue streams and stock valuation in the long run.
The environmental implications of Brenmiller Energy's thermal energy storage system are substantial, particularly in the context of global efforts to combat climate change. The projected elimination of 550 metric tons of greenhouse gas emissions aligns with international objectives to reduce carbon emissions and transition to cleaner energy sources. This achievement not only showcases the company's commitment to sustainability but also sets a precedent for other universities and large-scale facilities to adopt similar technologies.
For stakeholders, the long-term benefits include not only reduced operational costs through improved energy efficiency but also potential enhancements in reputation due to environmental stewardship. However, it is important to monitor the actual performance data of the bGen™ system over time to validate the projected emission reductions and ensure that the anticipated environmental benefits are realized.
The financial implications of Brenmiller Energy's successful installation and handover of the bGen™ system are multifaceted. The project's partial financing through a grant from the BIRD Foundation may alleviate initial capital expenditure concerns and highlight the availability of funding for innovative energy projects. For investors, the ability to secure such grants can be seen as a positive indicator of the company's project viability and fiscal management.
Furthermore, the operational savings for SUNY resulting from the bGen™ system could encourage other educational institutions to consider similar investments, potentially expanding the market for Brenmiller Energy's products. However, investors should consider the scalability of the technology and the company's capacity to manage a potentially increased demand. The financial performance of Brenmiller Energy post-installation will be a critical factor in assessing the long-term profitability and sustainability of their business model.
ROSH HA’AYIN,
The bGen™ storage system installation at a SUNY college charges by using both exhaust gas and electricity and discharges heat on demand. Brenmiller’s bGen™ is expected to eliminate approximately 550 metric tons of greenhouse gas emissions for SUNY annually. Developed and deployed in partnership with the New York Power Authority, the largest state power organization in the
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 states that bGen™ is expected to eliminate approximately 550 metric tons of greenhouse gas emissions for SUNY annually. 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240206903043/en/
Tori Bentkover
brenmillerenergy@antennagroup.com
Source: Brenmiller Energy Ltd.
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