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Brenmiller Energy Ltd (NASDAQ: BNRG) is an innovative Israel-based technology company that specializes in the development, production, marketing, and sale of thermal energy storage (TES) solutions. Founded in 2012, Brenmiller Energy is a pioneer in the electrification and decarbonization of the industrial sector, enabling the integration of renewable energy sources to significantly reduce carbon emissions.
Brenmiller Energy's flagship product, the bGen™ ZERO thermal battery, uses innovative technology to store heat at high temperatures using crushed rocks. This stored heat can then be released in the form of steam, hot water, or hot air, tailored to specific industrial needs. The system is designed to replace traditional fossil fuel boilers, contributing to substantial reductions in greenhouse gas emissions.
The company has captured significant market interest, with active discussions to secure 49 contracts across 12 industries and 13 countries. These deals have the potential to generate combined revenue exceeding $500 million, with projects spanning various sectors including food and beverage, consumer goods, energy, chemicals, and pharmaceuticals.
Brenmiller Energy's technology boasts several key features that make it attractive to a wide range of clients. These include Renewable Energy Integration, High Efficiency, Modularity and Scalability, and Environmental Benefits. The bGen™ ZERO charges using low-cost renewable electricity and can store heat up to 650°C (1202°F), ensuring efficient use of intermittent renewable energy sources such as solar and wind. Additionally, it offers a 34% improvement in energy density and a 40% increase in charging power compared to previous models.
The modular design of bGen™ ZERO, consisting of prefabricated units known as bCubes™, allows it to be configured to meet specific plant requirements and scale from 10 MWh to 1000 MWh. This flexibility, combined with the system's ability to eliminate carbon emissions from the heat generation process, reduce operational costs, and use non-hazardous, environmentally friendly materials, makes it a compelling solution for industrial applications.
To support its growing operations, Brenmiller Energy has established a state-of-the-art facility in Dimona, Israel, capable of supporting sales of up to $200 million. The company is also evaluating the establishment of additional plants in key markets such as the U.S. and Europe to meet increasing demand and provide local supply, faster delivery, and lower transportation costs. This expansion is made possible through non-dilutive financing options, showcasing Brenmiller's strong financial position and commitment to shareholder value.
Brenmiller Energy's stock has seen a recent increase, reflecting investor confidence in the company's advanced technology and robust project pipeline. The company's leadership, led by Chairman and CEO Avi Brenmiller, remains focused on driving revenue growth and maintaining the momentum of recent deal-making activities.
The company's patented bGen™ thermal battery is recognized as a significant advancement in thermal energy storage, turning renewable electricity into zero-emission heat. It was named among TIME's Best Inventions of 2023 in the Green Energy category. Brenmiller Energy operates the world's only gigafactory for thermal battery production, making it a trusted partner for leading multinational energy companies.
For more information, visit Brenmiller Energy's website and follow the company on social media platforms like X (formerly Twitter) and LinkedIn.
Brenmiller Energy (Nasdaq: BNRG), a provider of thermal energy storage solutions, has received a Nasdaq notification regarding non-compliance with the minimum bid price requirement. The company's stock must maintain a minimum bid price of $1.00 per share to remain listed. Brenmiller has been granted a 180-day grace period until February 3, 2025, to regain compliance.
To comply, the stock's closing bid price must be at least $1.00 for a minimum of ten consecutive business days. If unsuccessful, Brenmiller may be eligible for an additional 180-day period if it meets other Nasdaq Capital Market listing requirements. Failure to comply could result in delisting. The company states that maintaining its Nasdaq listing is a priority and will consider options to regain compliance if necessary.
Brenmiller Energy (NASDAQ: BNRG), a provider of thermal energy storage solutions, has announced two new appointments to its Board of Directors. Zvi Joseph and Miki Korner will join the board effective August 14, 2024, filling vacancies created by the resignation of two current directors. This move comes in response to a Schedule 13D filing by Alpha Capital Anstalt.
Additionally, Brenmiller has entered into a securities purchase agreement with Alpha for approximately $1.05 million at $1.05 per share, a 52% premium to the closing price on August 2, 2024. Alpha may make a further investment for 1,000,000 additional shares if the stock closes at or above $2.50 within 12 months. The company also stated it does not plan to use its "at-the-market" facility to sell shares while trading below $2.00 per share.
Brenmiller Energy (Nasdaq: BNRG), a provider of thermal energy storage solutions, has announced a $1.05 million private placement with an existing institutional investor. The company will issue 1,000,000 ordinary shares at $1.05 per share, representing a 52% premium to the closing price on August 2, 2024. The investor has the right to make an additional investment for 1,000,000 shares if the stock price reaches $2.50 within 12 months. Proceeds will be used for general corporate purposes and working capital. The closing is subject to obtaining consent from an existing lender within 90 days. Brenmiller has agreed to file a registration statement with the SEC within 30 days of closing to register the resale of the shares.
Brenmiller Energy (Nasdaq: BNRG) has announced plans to expand its bGen™ thermal battery capabilities for AI data center cooling applications. The company aims to develop a Cold Thermal Energy Storage (CTES) solution called bGen™ Cool, responding to the rapidly growing power demand in data centers driven by AI computing.
Key points:
- Data center power demand is expected to increase by 160% by 2030, reaching 3-4% of global power consumption
- Brenmiller anticipates minimal investment to adapt its existing technology for data center applications
- The bGen™ Cool aims to provide cost-competitive and energy-efficient cooling solutions for data centers
- CTES systems can drive significant decarbonization and financial value for data center owners
- Brenmiller continues bGen™ production for power-to-heat applications, with potential sales valued at up to $500 million
Brenmiller Energy (NASDAQ: BNRG), a leading global thermal energy storage provider, is targeting a market worth an estimated $448 million in 2024. CEO Avi Brenmiller highlights the company's competitive position:
1. 49-project pipeline in 13 countries, with $500 million potential sales
2. 97% energy capture rate, 4-10% higher than competitors
3. Technology Readiness Level (TRL) of 8, indicating mature technology
4. Fully vertically integrated company
5. Flagship project with Heineken-backed Tempo Beverages
6. New Heat as a Service (HaaS) model launched
7. Partnerships expanding in Europe, US, India, and Canada
Brenmiller believes the current $2.4 million market cap undervalues the company's potential and expects organic growth based on proven performance and competitive advantages.
Brenmiller Energy CEO Avi Brenmiller issued a shareholder update highlighting the company's progress and strategic initiatives. Brenmiller Energy has developed and deployed 73 MWh of its bGen™ Thermal Energy Storage (TES) systems globally. The company announced a potential 49-project pipeline across 13 countries, valued at approximately $500 million. They introduced a new Heat as a Service (HaaS) business model, enabling Brenmiller to design, build, and operate TES systems at customer sites, fostering high-margin recurring revenue streams. Strategic partnerships in Europe, the US, India, and Canada aim to meet rising demand. Brenmiller's flagship project with Tempo Beverages in Israel is advancing, emphasizing the competitive edge of their TES solutions. The company raised $4.5M in gross proceeds from an equity offering, supporting corporate and project financing needs. The update reflects Brenmiller's commitment to delivering sustainable energy solutions and expanding their market presence.
Brenmiller Energy (Nasdaq: BNRG) has signed a non-binding MoU with Proactive Planet to distribute bGen™ TES systems in Alberta, Canada. The partnership targets projects worth $6 million and aims to provide 60 MWh of TES capacity. This initiative is part of Brenmiller's strategy to expand in North America and contribute to Canada's net-zero emissions goal by 2050. Proactive Planet, led by Jason Atkinson, has extensive experience in renewable energy projects in Western Canada. Brenmiller's TES systems are operational or under construction worldwide, including in Brazil and the U.S., with a $500 million project pipeline across 13 countries.
Brenmiller Energy (Nasdaq: BNRG) has begun construction on a 32 MWh bGen™ Thermal Energy Storage (TES) system at Tempo Beverages' plant in Netanya, Israel, replacing fossil fuel boilers to deliver sustainable process heat. The project, expected to be assembled by the end of September 2024 and commissioned in May 2025, aims to mitigate over 6,200 tons of carbon emissions annually and save Tempo an estimated $7.5 million over 15 years. The TES system will use roof-top solar and off-peak grid power. This initiative is part of Brenmiller's $500 million project pipeline, with 15% focused on the food and beverage sector.
Brenmiller Energy (NASDAQ: BNRG), a key player in thermal energy storage (TES) solutions, is making strides toward decarbonization and reducing reliance on fossil fuels. CEO Avi Brenmiller highlights the company's unique bGen™ ZERO thermal battery, which stores heat in crushed rocks and releases it in various forms to meet industrial needs. This technology has led to potential contracts worth over $500 million across 12 industries and 13 countries. The company recently opened a new facility in Dimona, Israel, to support sales up to $200 million, and is exploring further expansion in the U.S. and Europe. Brenmiller aims to finance growth through non-dilutive means to maximize shareholder value, boasting strong insider ownership and a commitment to aligning with stakeholders' interests.
Brenmiller Energy has entered into an exclusive distribution agreement with Rock Energy Storage for its bGen™ thermal energy storage systems in the Northeast U.S. Covering states including Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and New York, the 5-year agreement projects cumulative sales milestones exceeding $150 million. This initiative is part of Brenmiller's broader $500 million project pipeline strategy, aiming to accelerate the adoption of its TES solutions. Rock Energy Storage will handle marketing, sales, and service of the bGen™ systems, with RSP Systems acting as the lead subcontractor. The collaboration underscores the strategic importance of the Northeast market for Brenmiller.
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