1.4 MWh project to be delivered through Brenmiller Europe S.L., a new joint venture company recently established in Spain as a partnership between Brenmiller Energy, Viridi and Green Enesys
REBI has successfully secured a grant under NextGenerationEU to support innovative solutions for thermal energy storage and electric heat
TEL AVIV, Israel, December 30, 2024--(BUSINESS WIRE)--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (Nasdaq: BNRG), a leading global energy provider of thermal energy storage ("TES") solutions to industrial and utility customers, today announced that its bGen™ ZERO TES has been selected to anchor a clean energy project being developed by Recursos de la Biomasa ("REBI") in Spain, a leading Energy Service Company (ESCO) specializing in the decarbonization of residential and industrial heat.
REBI has successfully secured a grant under the NextGenerationEU program, implemented by Instituto para la Diversificación y Ahorro de la Energía ("IDAE"), to support innovative solutions for thermal energy storage and electric heat. bGen™ ZERO will store and deliver renewable energy for industrial steam to REBI’s customer through Brenmiller Europe S.L., a new joint venture company in Europe recently established as a partnership between Brenmiller Energy, Viridi and Green Enesys.
For this specific industrial application, Brenmiller’s bGen™ ZERO will be configured with 1.4 MWh of charging capacity, 10 MWh of storage, and 33 hours of continuous discharge.
"We’re pleased to partner with REBI and help advance Spain’s clean energy goals using thermal energy storage," said Dr. Jose Luis Moran, managing director of Brenmiller Europe S.L. "By utilizing renewable electricity to charge the storage system, Brenmiller’s bGen™ ZERO technology will contribute to increased energy efficiency and reduced carbon emissions."
"This is the first of many projects we expect to execute in the near term through our newly formed joint venture, Brenmiller Europe," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. "As anticipated, we are seeing a large and growing number of opportunities throughout Europe for our bGen™ TES technology to further improve returns on industrial decarbonization projects backed by renewable energy grants."
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.
About Brenmiller Europe, S.L.
Brenmiller Europe is a joint venture between Brenmiller Energy, Viridi RE, and Green Enesys aimed at accelerating the adoption of the innovative bGen™ thermal energy storage technology across Europe. This partnership combines Brenmiller's cutting-edge technology with the renewable energy expertise of European project developers Viridi RE and Green Enesys, who bring an 18-year proven track record in developing, funding, and building over 100 renewable energy projects. For more information, visit Green Enesys and Viridi.
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 specifications of the bGen ZERO to be supplied to the thermal energy storage project by REBI; that REBI’s deployment of the Brenmiller bGen™ ZERO technology will contribute to increasing energy efficiency and reducing carbon emissions by utilizing renewable energy to charge the storage system, supporting Spain’s clean energy goals; that the company expects to execute many projects in the near-term through Brenmiller Europe; and that the Company is seeing opportunities in Europe that support of renewable energy grants that further improve the attractive return on investment of our TES system to power industrial heat and power.. 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.
