Miami, Florida--(Newsfile Corp. - December 4, 2024) - Brenmiller Energy Ltd. (NASDAQ: BNRG) COO Nir Brenmiller will present at the Emerging Growth Conference on Wednesday, December 4, 2024, at 11:25 AM EST. The fireside-chat-styled interview provides a forum for Mr. Brenmiller to explain how recent announcements position his company to accelerate monetizing a project pipeline projected to be worth at least $440 million.
Specifically, Mr. Brenmiller will expand on the value proposition created by its agreements with U.S.-based TUTCO Heating Solutions Group, a global leader in the supply of electric resistive heating elements, and a subsidiary of London-based Smiths Group, and with Germany-based Entelios AG, which puts into play a German TES market expected to reach $2.9 billion by 2028.
The company's Q4 updates emphasize the potential of Brenmiller's TES technology to redefine sustainable industrial energy creation and storage. According to Brenmiller's most recent announcement, TUTCO will design, manufacture, and supply essential components for its groundbreaking bGen™ ZERO TES systems, which use crushed rocks to transform electricity into storable, on-demand, carbon-free heat, steam, or hot air for industrial applications with 24/7 reliability and transparent production costs, the latter created by mitigating the reliance on volatile-priced natural gas and carbon-burning fuels.
Register HERE to listen to Brenmiller Energy COO Nir Brenmiller at the Emerging Growth Conference Today at 11:25 AM EST
Powerful Synergies By Combining Innovative Technologies
The agreement with TUTCO allows for combining TUTCO's engineering expertise in resistive heating with Brenmiller's innovative TES technology, creating a powerful synergy that addresses clean energy creation and storage challenges, presenting a multi-win proposition and a mission-critical step toward a sustainable energy future.
Brenmiller can scale production of its bGen™ ZERO systems to provide customers relief from mandated and stringent requirements related to a fast-changing energy sector landscape. TUTCO strengthens its leadership in electrification technologies. And the planet is in line to win with cleaner, carbon-free energy solutions that eliminate reliance on fossil fuels for its creation.
The value driver is Brenmiller's bGen™ ZERO system, which uses crushed rocks to redefine energy creation and storage, converting low-cost renewable electricity into storable, on-demand steam, hot air, or hot water. It's a particularly attractive solution to energy-intensive industries such as food and beverage, pharmaceuticals, and chemical manufacturing by mitigating, even eliminating, the reliance on fossil fuels to generate and store energy. That distinction and system versatility are a tailwind to recent momentum, with nearly any company relying on industrial boilers a potential client.
The value inherent to Brenmiller's bGen™ ZERO technology includes:
- Carbon-Free Heat Solution: the bGen™ ZERO generates heat, steam, or hot air using renewable energy sources, ensuring zero carbon emissions during operation. Customers under increasing pressure to decarbonize appreciate that distinction because they get a reliable, environmentally friendly solution that aligns with corporate ESG goals and regulatory requirements.
- Cost-Effectiveness: The bGen™ ZERO system stores heat in crushed rocks, which is significantly more affordable and durable than alternative storage systems. Customers like it because they can reduce dependency on volatile fossil fuel markets through a system offering stable and predictable costs.
- 24/7 Operation: The bGen™ ZERO ensures stable heating conditions, providing continuous operation even when renewable energy sources fluctuate. Customers like it because the reliability of bGen™ ZERO mitigates the risk of production downtime, a critical factor for manufacturers in sectors like food and beverage, chemicals, and pharmaceuticals.
- Scalability and Flexibility: The system can scale to meet the needs of small facilities or large industrial operations and discharge energy in the form of steam, hot water, or hot air, depending on customer requirements. This adaptability allows industries to customize the system to their energy needs, maximizing efficiency and utility.
- Alignment with Green Energy Mandates: The bGen™ ZERO supports grid balancing and renewable energy integration, helping utilities and industrial clients meet carbon reduction targets. With governments imposing stricter emissions regulations, the bGen™ ZERO helps customers comply without sacrificing operational efficiency.
- Heat-as-a-Service (HaaS) Model: Brenmiller offers the bGen™ technology through a HaaS model, enabling clients to pay for the heat they use rather than incurring significant upfront costs. This model reduces financial barriers, making it easier for companies to transition to clean energy solutions without a heavy capital investment.
- Support for Hard-to-Electrify Industries: The bGen™ ZERO delivers high-temperature heat required by industries that are difficult to electrify, such as cement, steel, and petrochemicals. For sectors struggling to find clean alternatives, bGen™ ZERO fills a critical gap, making the decarbonization of complex processes feasible.
These distinctions solve critical industrial client challenges. For Brenmiller, they facilitate and support its ability to serve its nearly half-billion-dollar projected business pipeline, a mission further aided by its expanded state-of-the-art gigafactory in Dimona, Israel, the world's first dedicated to TES production.
Accolades From Scrutinizing Reviewers
Notably, that facility and additional completed groundwork have established Brenmiller Energy's name as an industry-best option in TES technology. The company was selected as one of TIME's Best Inventions of 2023 for Green Energy, Innovation Champion at the European Investment Bank's AdVenture Debt Summit, earned finalist recognition in BloombergNEF's BNEF Pioneers competition, and scored praise in multiple categories at the 2023 Energy Storage Awards. Each recognizes bGen™ as a groundbreaking solution in the clean energy sector, validating Brenmiller's innovation and supporting its role as a leader in the TES market.
Equally important is recognizing Brenmiller's dedication to environmental, social, and governance (ESG) principles. Its bGen™ technology was developed to provide a scalable, renewable energy solution that supports global decarbonization goals. This commitment is highlighted in Brenmiller's 2023-2024 ESG report, which outlines its mission to advance net-zero industrial heat solutions and emphasizes its efforts to reduce emissions in hard-to-electrify sectors.
As clean energy mandates and carbon reduction policies continue to drive demand for sustainable heating solutions, Brenmiller Energy's competitive strengths and system versatility are standout contributors to setting a new benchmark regarding sustainable industrial energy. Its unique combination of technology, partnerships, EU relationships, and ESG alignment does more than encourage that intent; it expedites it.
Brenmiller Energy
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About bGen™
bGen™, Brenmiller's TES system, 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 helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. 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 future manufacturing of the TUTCO heaters as key components of Brenmiller's bGen™ ZERO TES systems; that the manufacturing agreement with TUTCO will support the completion of the bGen™ ZERO system; the delivery of the first three units of the bGen™ ZERO to Tempo Beverages Ltd., Wolfson Hospital, and Partner in Pet Food Hungaria; the expected installations of bGen™ ZERO to Brenmiller's $440 million global pipeline of commercial opportunities; global deployment of the bGen™ ZERO technology for years to come; and that bGen™ ZERO's design will deliver sustainable power for decades to come. 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 crucial 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, 2023 filed with the SEC on March 18, 2024, 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.
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