Brenmiller's bGen is Part of a Sustainable Heat Project to Receive Funding from European Union Innovation Fund: €4,000,000 Estimated for Brenmiller Europe's Supply of bGen

bGen was selected as the thermal energy storage system for a large-scale solar energy project led by a top European utility companyMarks the second bGen project within two months selected to receive European Union non-dilutive project funding5 MWe bGen expected to contribute to the avoidance of 1.45 M tons of CO2 equivalent over 10 years and a 104% increase in energy efficiencyProject configuration enables effective replacement of fossil-fuel-based steam generation in industrial processes Brenmiller Energy Ltd. (Nasdaq:BNRG), (the "Company", "Brenmiller" or "Brenmiller Energy") a leading global provider of Thermal Energy Storage ("TES") solutions for industrial and utility customers, announced today that a large-scale solar energy project which integrates the Company's bGen™ TES solution has been selected to receive funding from the European Union's Innovation Fund 2023 Call for Net Zero Technologies. The project is now advancing toward the grant agreement phase, subject to the conclusion of off-take agreements between the project lead and end customers.The project, which is led by and involves some of the world's largest energy companies, aims to accelerate the deployment of sustainable heat solutions in Europe. As part of the project, Brenmiller Europe S.L. ("Brenmiller Europe"), the Company's Spain-based joint venture, is expected to supply distributed bGen™️ TES systems with a total electrical charge capacity of approximately 5 MWe, representing approximately €4 million in revenues to Brenmiller Europe for the equipment sale."We are proud that bGen™ is the TES system of choice for one the world's top energy companies leading this project. Funding from the European Union's Innovation Fund accelerates this pioneering initiative, which we believe is an important step in an ambitious plan that may lead to replication of the concept across Europe's industrial sector," said Avi Brenmiller, Chairman and Chief Executive Officer at Brenmiller Energy."This project serves as a great example of the kind of high-profile, large-scale projects in our commercial pipeline that are advancing into project funding and potentially converting into revenues. We view this development as a significant milestone in expanding our presence in the European energy market, particularly in the fields of industrial heat and steam decarbonization," Mr. Brenmiller concluded.Based on documents filed with the European Union Climate, Infrastructure, and Environment Executive Agency, the project is expected to generate a 104% increase in energy efficiency supplying sustainable heat to industry by decoupling steam demand from power consumption. The project is also expected to avoid more than 1.45 million tons of CO2 equivalent over its first ten years of operation. This innovative, integrated solution combines renewable energy, TES, and high-temperature heat pumps, significantly boosting the use of green heat to power industry.About bGen™bGen™ ZERO is Brenmiller's TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen™ ZERO 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™ ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen™ ZERO was named among TIME's Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards.About Brenmiller Energy Ltd.Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO 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 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 when discussing: that the Company's bGen™ systems will receive funding by the European Union; that the EU grant may potentially lead to revenues; 5 MWe bGen™ is expected to contribute to the avoidance of 1.45 million tons of CO₂ equivalent over 10 years; that the project is expected to result in a 104% increase in energy efficiency; that the project configuration is expected to enable effective replacement of fossil-fuel-based steam generation in industrial processes; that the project is advancing toward the grant agreement phase, subject to off-take agreements between the lead and end customers; that Brenmiller Europe is expected to supply distributed bGen™ TES systems totaling 5 MWe, representing approximately €4 million in revenues; that the project may lead to replication of the concept across Europe's industrial sector; that the project is expected to supply sustainable heat by decoupling steam demand from power consumption; and that the integrated solution is expected to significantly boost the use of green heat in industry. 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, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, 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.Contact: [email protected]SOURCE: Brenmiller Energy

Brenmiller's bGen is Part of a Sustainable Heat Project to Receive Funding from European Union Innovation Fund: €4,000,000 Estimated for Brenmiller Europe's Supply of bGen

FAQ

Why Bullish?

How important is it?

Why Long Term?

Related Companies

Related News