Brenmiller & Rock Energy Storage Sign Exclusive Distribution Agreement

Source: 6/6/2024, Location: Middle East

- Companies’ current cumulative projected sales milestones exceed $150 million
- Rock Energy Storage will market, sell, and service Brenmiller Energy’s bGen™ thermal energy storage systems in the Northeast United States
- Marks the latest in a string of commercial agreements aimed at accelerating the implementation of Brenmiller’s $500 million project pipeline

Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” ) (Nasdaq: BNRG), a leading global provider of thermal energy storage (“TES”) solutions to industrial and utility markets, today announced that it has signed an exclusive distribution agreement with Rock Energy Storage, LLC (“RES”) to sell and distribute its bGen™ TES systems in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and New York. The definitive 5-year agreement includes cumulative projected sales milestones exceeding $150 million.

Rock Energy Storage is a privately held company based in New York. It is focused exclusively on taking advantage of the sizable TES storage opportunity in the United States by distributing, installing, and servicing Brenmiller’s bGen™ TES solutions throughout the Northeast. RSP Systems will act as Rock Energy Storage’s lead subcontractor. Brenmiller had previously announced on January 11, 2024 that it had signed a Memorandum of Understanding with RSP Systems; the current agreement with RES supersedes the previous agreement and is a natural evolution of the companies’ successful collaboration.

“The Northeast is a strategic U.S. market for Brenmiller because of its forward-looking approach to electrification and decarbonization and is well-suited to take advantage of the sustainability and flexibility benefits that our cost-effective bGen™ technology unlocks,” stated Brenmiller’s Chairman and CEO, Avi Brenmiller. “We have enjoyed a very productive working relationship with RSP Systems since 2019 and are excited to grow our collaboration with the team through Rock Energy Storage.”

RSP Systems, a leader in choosing and implementing award-winning energy generation systems since 2004, worked with Brenmiller on its first U.S. bGen™ installation in New York.

“Brenmiller’s TES system is the competitive decarbonization solution we’ve been looking for, and we have already seen excellent reception from a range of market sectors and organizations that are forward-leaning in their efforts to decarbonize, including utilities, commercial and industrial, institutional, and food and beverage,” said Cory Glick, President and CEO of Rock Energy Storage. “Brenmiller’s technology qualifies for substantial federal incentives through the Inflation Reduction Act, and state and utility programs will provide additional tailwinds for our work to introduce the bGen™ to more states in the U.S. We look forward to partnering with Brenmiller to meet our energy customers’ rapidly changing and growing demands for clean power.”

As of May 1, 2024, Brenmiller and RES have numerous active project proposals in their shared pipeline, representing over 1,200 MWh of TES capacity.

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.

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