- Contract proposals and negotiations with some of the world’s largest companies, including Fortune 100s, demonstrate Brenmiller’s robust capability to provide thermal energy storage solutions for energy-intensive and power-producing industries
- Need for on-demand access to around-the-clock renewable heat, combined with global climate policies are driving industry interest in Brenmiller’s bGen™ ZERO thermal energy storage technology
- U.S., Spain, Hungary, Israel, and India represent largest geographic share of pipeline projects
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy”) (Nasdaq: BNRG), the most experienced thermal energy storage (“TES”) developer worldwide, reported substantial growth in its project pipeline which has reached a record level for the Company. As of May 1, 2024, Brenmiller has a project pipeline of 49 potential contracts in various stages of development for its bGen™ ZERO TES systems valued at over $500 million and representing more than 6,000 MWh of zero-emission heat.
Brenmiller is advancing potential projects in 12 industries. Food and beverage, consumer goods, energy, chemicals, and pharmaceuticals represent the largest share across 13 countries including the U.S., Spain, Hungary, Israel, and India.
Approximately two-thirds of the pipeline projects are equipment sales and one-third will be delivered through an Energy-as-a-Service model. Nearly all Brenmiller’s pipeline projects convert renewable electricity into process heat.
Brenmiller’s bGen™ TES technology replaces the need for fossil fuel boilers at industrial and power plants, which contribute to nearly one-quarter of all global emissions. It uses crushed rocks to store low-cost electricity from renewable or other sustainable sources and dispatches steam, hot water or hot air according to customers’ needs. Brenmiller’s TES technology is modular and highly configurable and provides heavy-emitting and mission-critical customers with scalable access to zero-emission heat while ensuring 24/7 operational reliability.
“The nearly fifty active project proposals, offers and negotiations our team has going with some of the largest and most innovative industrials and energy companies is great for business, but it’s even better for the planet: It reflects both our customers’ confidence in our ability to deliver and shifting attitudes toward decarbonization market-wide,” stated Brenmiller’s Chairman and CEO, Avi Brenmiller. “Several of these projects are in advanced stages of negotiations and we anticipate that two to four of them may advance into binding, revenue-generating contracts in the coming quarters.”
