Brenmiller Energy Ltd., a global leader in thermal energy storage (TES), is set to revolutionize the industry with its highly anticipated bGen™ ZERO system. With the aim of providing low-cost and reliable clean process steam technology, Brenmiller Energy is poised to make a significant impact on reducing carbon emissions and driving revenue growth.
As the world increasingly recognizes the urgent need for sustainable energy solutions, Brenmiller Energy is at the forefront of developing innovative TES systems. According to REN21, a global renewable energy network, a quarter of the world’s energy pollution stems from heat produced for industrial needs. Brenmiller Energy’s bGen ZERO has the potential to be a game changer in this sector, offering a sustainable and cost-efficient alternative to traditional fossil fuel boilers for industrial manufacturing.
Currently, Brenmiller Energy is a leading provider of thermal energy storage solutions on a global scale. The company has already achieved several notable milestones, including the installation of pilots in significant sectors. One such project is located at Enel’s combined cycle power plant in Santa Barbara, Cavriglia, Tuscany, Italy. This installation represents the largest TES system in the world connected to an operational power plant and showcases Brenmiller Energy’s cutting-edge technology.
Additionally, Brenmiller Energy has established itself as the first company capable of producing TES systems at a commercial capacity. The company’s state-of-the-art gigafactory in Dimona, Israel, is expected to be operational by the end of 2023. With a production capacity of up to 4 GWh of bGen ZERO systems per year, the gigafactory is poised to support up to $200 million in orders annually by 2024. This manufacturing capability sets Brenmiller Energy apart from its competitors and provides a significant advantage in the market.
Brenmiller Energy’s recent achievements have also contributed to its growing pipeline of projects and joint ventures. The company has signed a term sheet to form a joint venture with European renewable energy developers Green Enesys Group and Viridi, allowing for the development and deployment of giga-scale renewable energy projects across Spain, Germany, and France. In addition, Brenmiller Energy has engaged in advanced discussions with a global renewable energy giant to identify and develop nine joint projects totaling 2 GWh of TES capacity. These strategic partnerships highlight the industry’s recognition of Brenmiller Energy’s expertise and potential for growth.
Furthermore, Brenmiller Energy has expanded its presence in the renewable energy market through collaborations with international partners. The company recently signed a memorandum of understanding with Waaree Energies, the largest solar panel manufacturing company in India, to enter the renewable energy market in the country. These strategic alliances allow Brenmiller Energy to extend its reach and contribute to the development of sustainable energy solutions worldwide.
To accommodate its ambitious growth plans, Brenmiller Energy has inaugurated the world’s largest TES system production plant in Dimona, Israel. Once fully operational, the facility will have the capacity to produce up to 4 GWh of bGen and bGen ZERO systems annually, translating into approximately $200 million in annual sales by 2024. This investment underscores the confidence and support that Brenmiller Energy has received from the European Investment Bank, the world’s largest green investment bank. Their non-dilutive financing has played a crucial role in the realization of this groundbreaking project.
Looking ahead, Brenmiller Energy is confident in the rapid market traction that its new focus on delivering electric process steam to industrial customers will generate. The company’s recent accomplishment of securing the first bGen ZERO sale with Wolfson Hospital serves as a testament to this belief. With a robust project pipeline, Brenmiller Energy is well-positioned to capitalize on the increasing demand for sustainable energy solutions in the market.
In light of its recent achievements, Brenmiller Energy acknowledges the discrepancy between its business and technology’s value and its current market capitalization. The company recognizes the importance of raising its corporate profile and increasing its visibility to U.S. investors. As part of these efforts, Brenmiller Energy plans to exclusively list its shares on the Nasdaq exchange starting from September 11, 2023. By advancing on all fronts and leveraging its proven track record, Brenmiller Energy aims to enhance value for its shareholders and solidify its position as a global leader in the thermal energy storage industry.
In conclusion, Brenmiller Energy is committed to realizing its vision of providing low-cost and reliable clean process steam technology to utilities and industrial customers. With its bGen ZERO system, the company is addressing the pressing need to reduce carbon emissions and transition towards sustainable energy sources. Through strategic partnerships, groundbreaking innovations, and a state-of-the-art gigafactory, Brenmiller Energy is poised to achieve significant revenue growth and establish its position as a global leader in thermal energy storage solutions.
