Welcome to our dedicated page for Brenmiller Energy news (Ticker: BNRG), a resource for investors and traders seeking the latest updates and insights on Brenmiller Energy stock.
Overview of Brenmiller Energy Ltd
Brenmiller Energy Ltd is a technology company at the cutting edge of thermal energy storage solutions, specializing in the development, production, marketing, and sale of its proprietary bGen™ system. By converting excess renewable energy into storable heat, the company provides a robust platform that supports industrial electrification and decarbonization. This innovative approach not only offers an alternative to conventional fossil-fuel-based heating systems but also facilitates more efficient integration of renewable energy resources into industrial applications.
Technology and Operational Excellence
The cornerstone of Brenmiller Energy’s portfolio is its bGen™ thermal energy storage system, which transforms surplus electricity—whether generated from solar, wind, or off-peak grid power—into thermal energy that can be later discharged as steam, hot air, or direct heat. This process is achieved by storing energy in crushed rock, ensuring long-term reliability and stability. Unlike conventional storage methods, the bGen™ system is engineered to avoid degradation over time, completely sidestepping the issues related to rare-earth mineral dependency and volatility in fuel supply chains.
Industrial Integration and Market Application
Brenmiller Energy’s technology addresses critical demands within various industrial sectors including manufacturing, steel production, cement, chemicals, and textiles. In these applications, consistent and high-temperature energy is required, and conventional renewable energy sources like solar and wind often fall short due to their intermittent nature. The company’s solution offers a direct method to bridge this gap, effectively decarbonizing industrial heat processes while also stabilizing energy costs. The ability to store thermal energy during periods of low demand and retrieve it during peak usage makes the bGen™ system a key asset for industries striving to reduce greenhouse gas emissions without compromising operational continuity.
Competitive Position and Industry Impact
Within the fast-evolving landscape of renewable energy and energy storage, Brenmiller Energy distinguishes itself by addressing several fundamental industry challenges. Unlike lithium-ion batteries that can be cost-prohibitive and suffer from degradation, or hydrogen systems that require extensive infrastructure investments, the company’s approach delivers an immediately deployable, cost-effective, and long-lasting solution. By eliminating dependency on imported fuels and reducing the volatility associated with traditional energy supplies, Brenmiller Energy reinforces its value proposition for industrial stakeholders and contributes significantly to decarbonization efforts.
Operational Advantages and Industry Relevance
- High Durability: The bGen™ system offers superior longevity, designed to operate efficiently for decades without notable performance decay.
- Cost Efficiency: By leveraging off-peak renewable energy and converting it into storable heat, the system effectively reduces operational expenses linked to traditional energy sources.
- True Decarbonization: The technology supports a tangible reduction in carbon emissions in sectors that traditionally depend on fossil fuels for industrial heat.
- Scalability: The system’s modular design allows for integration across a range of industrial applications, making it a versatile asset in the current energy transition landscape.
Conclusion
Brenmiller Energy Ltd occupies a strategic niche in the industrial energy sector by providing a practical and immediately applicable solution for thermal energy storage. Its commitment to innovation and operational excellence is evident in the robust performance and scalability of its bGen™ system, which aligns perfectly with the global momentum towards decarbonization and increased renewable energy integration. This technology not only promises to stabilize energy supplies and costs for industrial operations, but also plays a pivotal role in reducing reliance on fossil fuels, thereby underscoring its relevance and authority in the clean energy transition.
Brenmiller Energy (NASDAQ: BNRG) has released its 2023-2024 ESG Report, highlighting its progress in providing zero-emission industrial heat solutions. The company's flagship product, bGen™ ZERO, enables industrial customers to generate clean steam, hot water, and hot air using electricity and residual heat for various applications.
The company is currently commissioning seven global projects with 103 MWh of thermal energy storage capacity. Their automated gigafactory manufacturing line is expected to reduce operational energy consumption to one-third of previous levels at full capacity. Brenmiller's operations align with seven UN Sustainable Development Goals, and the report outlines ESG targets through 2026.
Brenmiller Energy (NASDAQ: BNRG) has signed a non-binding LOI with Entelios AG to deploy sustainable energy practices in Germany's industrial sector. The collaboration aims to optimize revenue streams for bGen™ users through Entelios' expertise in flexibility market services and Cross-Market Optimisation platform. Germany's thermal energy storage market is projected to reach $2.9 billion by 2028. The partnership focuses on managing bGen™ systems operations and optimizing energy costs across multiple flexibility markets, facilitating the transition from natural gas to electricity for industrial users. Entelios currently manages over 1 GW of net flexibility from various energy sources.
Brenmiller Energy (NASDAQ: BNRG), a global provider of thermal energy storage (TES) solutions, has announced an on-demand interview with COO and Co-Founder Nir Brenmiller. The interview, conducted by Primetime Profiles' Nicole Brodie, is scheduled for October 23, 2024, and will be available immediately after registration.
The discussion will focus on:
- The company's completed groundwork
- The value of signed agreements
- The development of an estimated $440 million project pipeline
Mr. Brenmiller will also address investor questions about the company's current valuation and strategies to increase shareholder value in Q4/2024 and throughout 2025. Interested parties can register and access the interview on-demand through the provided link.
Brenmiller Energy (Nasdaq: BNRG) has announced the formation of a new joint venture, Brenmiller Europe S.L., in partnership with renewable energy developers Green Enesys and Viridi RE. This Spanish aims to rapidly expand the adoption of Brenmiller's bGen™ technology across Europe, focusing on product sales, energy services, and project-level financing in high-growth markets.
The joint venture will leverage Green Enesys and Viridi's expertise in developing large-scale clean energy projects, with Brenmiller retaining majority ownership and manufacturing bGen™ modules at its gigafactory in Dimona. Brenmiller Europe has exclusive distribution rights for bGen™ systems in major European countries, subject to certain revenue and performance requirements.
This strategic move is expected to accelerate Brenmiller's ability to deliver and expand its global sales and service infrastructure, capitalizing on Europe's supportive regulatory environment and clean energy cost-benefit landscape. The joint venture will focus on a substantial portion of Brenmiller's $440 million global project pipeline opportunities originating in Europe, spanning nine industries across eleven countries.
Brenmiller Energy (Nasdaq: BNRG), a leading provider of thermal energy storage solutions, announced its participation in the Emerging Growth Conference on September 25, 2024. The company's COO and Co-Founder, Nir Brenmiller, will present at 9:40 AM EDT for 30 minutes, followed by a Q&A session.
The presentation will focus on Brenmiller's latest project developments, including the commercial rollout of its bGen™ ZERO thermal energy storage solution. This innovative technology converts electricity into low-carbon process heat for industrial applications.
Interested parties can register for the event online. An archived webcast will be available on EmergingGrowth.com and the Emerging Growth YouTube Channel for those unable to attend live.
Brenmiller Energy (Nasdaq: BNRG) has raised $2 million through an At-The-Market (ATM) equity offering at $2.19 per share, further strengthening its balance sheet. The company plans to avoid using the ATM facility below $3.00 per share in the future. Brenmiller aims to fund its Heat-as-a-Service (HaaS) projects primarily through third-party project finance rather than equity funding, potentially accelerating its capacity to execute on a project pipeline worth up to $500 million.
Since the start of 2024, Brenmiller has raised approximately $10.8 million in gross proceeds. The company has also signed a definitive agreement for an additional $1.05 million private placement equity investment at a 52% premium to market. Brenmiller Energy focuses on delivering low-carbon heat through direct technology sales and its HaaS model, which allows for capturing recurring revenues through energy market program participation.
Brenmiller Energy (NASDAQ: BNRG), a provider of thermal energy storage solutions, reported its H1 2024 financial results and operational updates. Key highlights include:
1. A $1.05 million private placement agreement at a 52% premium to market price.
2. A project pipeline potentially worth up to $500 million.
3. Development of a Cold Thermal Energy Storage solution for AI data centers.
4. Multiple HaaS (Heat as a Service) projects, including a 30 MWh bGen™ ZERO system for a major European pet food manufacturer.
5. A $3.55 million agreement with Wolfson Hospital, supported by a $450,000 grant.
6. A $150 million sales milestone agreement for U.S. distribution.
7. Cash and cash equivalents of $6.99 million as of June 30, 2024.
8. Narrowed net loss by 70% to $1.58 million for H1 2024.
Brenmiller Energy (NASDAQ: BNRG) has entered a 12-year Heat as a Service (HaaS) agreement with Partner in Pet Food Hungaria KFT (PPF), a leading European pet food producer. Brenmiller will design, build, own, and operate a 30 MWh bGen™ ZERO system near PPF's plant in Dombovar, Hungary. This system will provide low-cost, low-carbon steam to PPF and offer grid balancing services to the local transmission system operator, MAVIR.
The project, expected to cost around $5 million, will significantly reduce PPF's energy costs and carbon footprint. PPF will purchase steam at a fixed rate. Brenmiller can leverage the bGen™ system to participate in MAVIR's grid balancing market, increasing project revenues. This arrangement will help PPF achieve its emissions reduction target of 42% by 2030.
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.
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