Electrical Works Completed; Commissioning Expected to Begin Mid-February TEL AVIV, IL / ACCESS Newswire / February 4, 2026 / Brenmiller Energy Ltd. (NASDAQ:BNRG) ("Brenmiller", "Brenmiller Energy" or the "Company"), a provider of thermal energy storage ("TES") solutions for industrial and utility customers, today provided an operational update on its flagship project for Tempo Beverages Ltd. ...

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Core Viewpoint - Brenmiller Energy Ltd. has been recognized for its leadership in the clean-energy sector, particularly through the achievement of a significant clean-energy exit and its long-term impact on the industry [1] Company Summary - Brenmiller Energy is a leading global provider of Thermal Energy Storage (TES) solutions aimed at industrial and utility customers [1] - Avi Brenmiller, the Founder and CEO of Brenmiller Energy, received the Merage DeserTech Industry Leader Award for his contributions to the clean-energy field [1]

Core Insights - Brenmiller Energy Ltd. has received multiple recent recognitions for its bGen ZERO technology, including a Gold award in the Energy Storage and Management category from the Edison Awards and being named one of TIME magazine's Best Inventions of 2023 in the Green Energy Category [1] Company Achievements - The bGen ZERO technology, utilized in the State University of New York (SUNY) Purchase campus project, has won the POWER 2025 Commercial & Industrial Generation Award [1]

Financial Performance - Total revenues for the six months ended June 30, 2025, were $387,000, compared to $0 for the same period in 2024[11] - Operating loss for the six months ended June 30, 2025, was $6,572,000, an increase from a loss of $5,375,000 in 2024[11] - Net loss for the six months ended June 30, 2025, was $7,454,000, compared to a net loss of $1,581,000 in 2024, reflecting a significant increase in losses[11] - Basic and diluted loss per ordinary share for the six months ended June 30, 2025, was $(3.79), compared to $(2.25) for the same period in 2024[66] Cash Flow and Liquidity - Cash and cash equivalents decreased to $2,127,000 as of June 30, 2025, down from $4,101,000 at the end of 2024[4] - Cash used in operating activities for the six months ended June 30, 2025, was $5,266,000, compared to $3,864,000 in 2024, reflecting higher operational costs[19] - The company expects to continue incurring losses and negative cash flows until its products reach profitability[28] Assets and Liabilities - Total assets decreased to $9,340,000 as of June 30, 2025, from $11,914,000 at December 31, 2024[4] - Total liabilities increased to $8,147,000 as of June 30, 2025, compared to $7,428,000 at December 31, 2024[7] - Shareholders' equity decreased to $1,193,000 as of June 30, 2025, down from $4,486,000 at the end of 2024[7] Research and Development - Research and development expenses for the six months ended June 30, 2025, were $2,411,000, compared to $1,808,000 in 2024, indicating increased investment in innovation[11] - Research and development expenses increased to $2,411 thousand for the six months ended June 30, 2025, from $1,808 thousand in the same period of 2024, representing a 33% increase[59] Share Issuance and Equity - The company issued 1,061,250 shares during the six months ended June 30, 2025, raising $3,348,000 net of issuance costs[14] - The company has issued 599,711 ordinary shares for a total net consideration of approximately $2,127 thousand during the first half of 2025[45] - The company has a total of 1,965,475 ordinary shares outstanding as of June 30, 2025, reflecting a significant increase in the weighted average number of shares compared to 588,276 in the same period of 2024[66] Operational Developments - The company commenced operations of a new production line in late 2024, facilitating the shift to commercial operations and began producing thermal energy storage systems under sale type lease agreements with two Israeli customers[28] - A joint venture in Spain was established in the second half of 2024, commencing non-significant operations in the first quarter of 2025[26] - The Company has signed a system purchase agreement with Baran Energy for the operational launch of two bGen™ ZERO TES systems, with total milestone payments of $2.8 million during construction and commissioning phases[74] - The Company will retain all intellectual property related to the bGen™ ZERO systems and will continue to provide operations and maintenance services[74] Expenses - General and administrative expenses decreased to $2,075 thousand for the six months ended June 30, 2025, from $2,313 thousand in the same period of 2024, a reduction of 10%[61] - Total share-based compensation expenses for the six months ended June 30, 2025, amounted to $513 thousand, a decrease of 44% from $915 thousand in the same period of 2024[58] - The company recognized $1,855 thousand in cost of revenues for the six months ended June 30, 2025, compared to $408 thousand in the same period of 2024, indicating increased operational costs[58] Financing Activities - Brenmiller Energy Ltd. has taken steps to secure long-term financing, including a Securities Purchase Agreement with Alpha, to support ongoing commercialization efforts[30] - The company entered into a Securities Purchase Agreement with Alpha Capital Anstalt to issue up to $25 million in securities, with an initial closing amount of $1.395 million[70] Currency and Accounting - The company changed its functional currency to the U.S. dollar effective January 1, 2024, from the New Israel Shekel[33] - Current expected credit loss expense was $0 thousand for the six-month period ended June 30, 2025, compared to $289 thousand for the same period in 2024[36] Inventory - The total inventory as of June 30, 2025, was $1,237 thousand, down from $1,568 thousand as of December 31, 2024[43] Unrecognized Expenses - As of June 30, 2025, there is an unrecognized share-based compensation expense of $96 thousand to be recognized over an average remaining vesting period of 1.3 years[50]

Core Insights - The company projects revenues of $1.7 million for 2026 based on execution milestones for the Tempo project [1] - A Systems Purchase Agreement has been signed with Baran Energy for the Tempo and Wolfson projects, which includes milestone-based payments, profit sharing, and service revenues [1] - Brenmiller has deployed 103 MWh in cumulative projects and has a robust global pipeline of commercial opportunities valued at $500 million [1] - The company signed a private placement agreement for up to $25 million in equity financing to support growth [1] Financial Performance - The financial results reported are for the six months ended June 30, 2025 [1] - The company is recognized as a leading global provider of Thermal Energy Storage (TES) solutions for industrial and utility customers [1]

Core Insights - Brenmiller Energy Ltd. is set to receive milestone-based payments for the sale of bGen systems, along with profit sharing from future income generated from these projects and revenue from maintenance and operations services [1] - This transaction provides a non-dilutive capital injection, aligning with Brenmiller's capital-efficient growth strategy and enabling the advancement of its global project pipeline, which is valued at over $500 million [1] - The milestone signifies a significant evolution in the relationship between Brenmiller and Baran Energy Ltd., following the signing of a strategic collaboration agreement in February 2025 [1] Company Overview - Brenmiller Energy Ltd. is recognized as a leading global provider of Thermal Energy Storage (TES) solutions, catering to industrial and utility customers [1] - The collaboration with Baran Energy Ltd. marks a strategic partnership aimed at enhancing operational capabilities and expanding market reach [1]

Commercial Opportunities - Brenmiller's global pipeline of commercial opportunities is valued at over $500 million, supported by a gigafactory expected to produce $200 million worth of bGen™ systems annually at full capacity [2][14]. - Brenmiller's North American commercial pipeline has grown to over $210 million, up from $150 million in June 2024, with specific state and federal grant opportunities identified [10]. - The company secured land rights for a 30 MWh bGen™ system to serve a $2 billion pet food manufacturer in Europe, expected to reduce natural gas use by over 25-30% [7]. - Brenmiller signed a 7-year, $3.55 million agreement with Wolfson Hospital to replace fossil fuel boilers, potentially saving up to $1.3 million in annual energy costs [7]. - The bGen ZTO™ product line is planned for commercial availability in 2026, expanding the total addressable market by $8 billion annually, with projects worth approximately $170 million already in the pipeline [7][4]. Financial Performance - The company reported a net loss of $6.77 million for the year ended December 31, 2024, narrowing by 30% from $9.65 million in the prior year [10]. - Operating loss for the year ended December 31, 2024, was $10.56 million, compared to $9.86 million for the previous year [10]. - Total assets increased by 12% to $11.91 million as of December 31, 2024, primarily due to a $0.92 million increase in cash and cash equivalents [10]. - Brenmiller's cash and cash equivalents increased to $4.13 million as of December 31, 2024, reflecting a net increase of $0.92 million from the previous year [10]. Energy Savings and Environmental Impact - The company achieved a significant milestone with a 30 MWh bGen™ system for Tempo Beverage, projected to save $7.5 million in energy costs over 15 years and reduce carbon emissions by over 6,200 tons annually [3][4].

Technology Development and Commercialization - The company is highly dependent on the successful development, marketing, and sale of its proprietary technology, particularly in the industrial heat sector[49]. - The company is currently demonstrating its technology through development projects and operating pilots with significant customers in Israel and abroad[50]. - Future revenue generation heavily depends on successful development and commercialization of proprietary technology, including TES systems[97]. - The bGen™ technology is designed to electrify heat and reduce carbon emissions, addressing the urgent need for decarbonization in industrial sectors[188][189]. - The company aims to expand its technology into industrial facilities, targeting sectors such as food, beverages, and pharmaceuticals to reduce carbon footprints[204]. Financial Performance and Funding - As of December 31, 2024, the company had an accumulated deficit of $102.2 million and expects to continue incurring losses and negative cash flows until profitability is reached[91]. - The company’s cash and cash equivalents and restricted deposits were $4.13 million as of December 31, 2024, indicating a need for substantial additional funding to continue operations[92]. - The company has not generated significant revenue from its current products and expects to incur operating losses in the future, indicating a lack of profitability potential[95]. - The company anticipates that future funding requirements will depend on various factors, including market conditions and operational changes[92]. - If the company is unable to obtain timely funding, it may need to curtail or discontinue research and development efforts, impacting its business prospects[94]. Operational Risks and Challenges - The company faces risks related to the evolving nature of its Energy as a Service (EaaS) business model, which may introduce operational challenges and require significant management attention[54]. - The company relies on third-party manufacturers and suppliers, making it vulnerable to supply shortages and increased costs, which could negatively impact financial results[58]. - The company is dependent on obtaining and maintaining various permits and certifications across different jurisdictions, which could significantly impact operations if not secured[66]. - The company’s operational success is significantly dependent on the continued employment of key personnel, and the loss of such personnel may adversely affect business execution[52]. - The company may face unexpected maintenance warranty expenses that could reduce profits, as it provides a warranty period of up to 28 months for its TES systems[57]. Market Expansion and Competition - The company has expanded operations in certain European territories through a joint venture and plans further expansion into other markets in Europe and the U.S. through third-party distribution agreements[72]. - The company may face challenges in establishing and expanding operations in new markets due to limited experience and potential competition from local companies[72]. - The company is exploring projects in Spain to produce over 100,000 tons of green methanol annually through partnerships with Green Enesys and Viridi RE[230]. - A joint venture, Brenmiller Europe, was formed to distribute bGen™ products in Spain, Hungary, Germany, and Portugal, with the company holding 60% of the shares[236]. Regulatory and Compliance Issues - The company is dependent on obtaining and maintaining various permits and certifications across different jurisdictions, which could significantly impact operations if not secured[66]. - Changes in environmental laws and regulations, including potential impacts from the Inflation Reduction Act, could affect the company’s revenue generation capabilities[79]. - The company anticipates incurring significant additional costs related to compliance with U.S. regulations, including those under the Sarbanes-Oxley Act, which may impact its financial condition[154]. - The company is subject to less stringent disclosure requirements as a foreign private issuer, which may result in less protection for investors compared to domestic U.S. registrants[147]. Intellectual Property and Litigation - The company’s ability to protect its intellectual property is crucial for competitive positioning, as failure to do so may harm business operations[111]. - The company may face substantial litigation expenses and resource diversion due to potential infringement claims from third parties[119]. - The company faces risks related to the enforcement of its patents in foreign jurisdictions, which may not favor patent protection[128]. - The company may be subject to litigation that could adversely affect its operations and financial results[74]. Environmental and Social Impact - Industrial heat accounts for two-thirds of industrial energy demand and nearly one-fifth of global energy consumption, highlighting the need for renewable solutions[205]. - The bGen™ ZERO TES system for Tempo is expected to eliminate approximately 2,000 tons of heavy fuel usage annually, mitigating over 6,200 tons of carbon emissions and saving Tempo an estimated $7.5 million over 15 years[213]. - The company has completed its first bGen™ installation at SUNY, which is expected to eliminate approximately 550 metric tons of greenhouse gas emissions annually[218]. Strategic Partnerships and Agreements - The company signed an agreement with Wolfson Medical Center for a TES System valued at approximately NIS 11.9 million (about $3.3 million) over seven years[215]. - A non-binding term sheet was signed with a major utility company to accelerate electrification using renewable energies, addressing a global need for net-zero heat estimated at USD $1.7 - $3.6 trillion[231]. - A distribution agreement with Rock Energy Storage LLC was established, projecting cumulative sales milestones exceeding $150 million over 5 years for bGen™ thermal energy storage systems[233]. - A 12-year EaaS agreement was signed with Partner in Pet Food Hungaria KFT to deliver low-cost steam, with project financing expected to be secured by the end of 2025[235]. Currency and Economic Factors - Approximately 73% of expenses were denominated in NIS for the year ended December 31, 2024, compared to 78% for 2023[164]. - The appreciation of the NIS against the dollar was 0.6% for 2024 and 3.1% for 2023, indicating exposure to currency fluctuations[164]. - The company does not use derivative financial instruments to mitigate foreign exchange risks, which may lead to challenges in managing currency exposures[166]. Management and Governance - The company’s management team has limited experience managing a publicly traded company in the U.S., which may affect its ability to comply with regulatory obligations[75]. - As of March 4, 2025, the company's officers and directors beneficially own approximately 12.56% of its Ordinary Shares, allowing them significant control over shareholder matters[139]. - The company has never paid cash dividends and does not anticipate doing so in the foreseeable future[141].

Miami, Florida--(Newsfile Corp. - November 7, 2024) - Brenmiller Energy (NASDAQ: BNRG) is blazing a trail in the thermal energy storage (TES) sector, where the demand for clean, reliable energy solutions is red hot- literally. With revolutionary technology, a strong track record, and a growing portfolio of strategic partnerships, Brenmiller has positioned itself to capitalize. Recently, Brenmiller released its 2023-2024 Environmental, Social, and Governance (ESG) report, a potent testament to its commitmen ...