Financial Performance - Net loss for the six months ended June 30, 2024, was $1,581,000, a significant improvement from a net loss of $5,328,000 in the same period of 2023, reflecting a 70.3% reduction[10] - Operating loss for the six months ended June 30, 2024, was $5,375,000, slightly improved from $5,418,000 in the prior year[10] - The company reported a comprehensive loss of $1,581,000 for the first half of 2024, compared to a comprehensive loss of $5,751,000 in the same period of 2023, showing a 72.5% improvement[10] - The company reported a net loss of $1,581 thousand for the six months ended June 30, 2024, compared to a net loss of $5,328 thousand in the same period of 2023[93] Assets and Liabilities - Total assets increased to $13,924,000 as of June 30, 2024, up from $10,594,000 as of December 31, 2023, representing a 31.0% growth[4] - Total liabilities decreased to $7,388,000 as of June 30, 2024, down from $7,714,000 at the end of 2023, a decline of 4.2%[7] - Shareholders' equity increased to $6,536,000 as of June 30, 2024, compared to $2,880,000 at the end of 2023, indicating a 127.8% rise[7] Cash Flow and Capital Raising - Cash and cash equivalents rose to $6,966,000, compared to $3,183,000 at the end of 2023, marking a 118.0% increase[4] - The company raised $5,651,000 from the issuance of shares and prefunded warrants during the first half of 2024[18] - The Company raised approximately $4.0 million from a public offering on January 25, 2024, with agent fees and expenses totaling $596 thousand[51] - The Company is exploring additional capital raising through private and public offerings, including the withdrawal of financing from the EIB and government grants[33] Research and Development - Research and development expenses for the first half of 2024 were $1,808,000, compared to $1,711,000 in the same period of 2023, reflecting a 5.7% increase[10] Operations and Market Activity - The Company has commenced the commercialization of its products and services in 2023, with a new production line expected to begin operations in the second half of 2024[26] - The ongoing regional conflict in Israel has disrupted operations, affecting supply chains and increasing costs, which could materially impact the Company's business and financial condition[28] - The company recognized revenue from engineering services provided to a customer in Europe, amounting to $387 thousand expected to be recognized in the second half of 2024[80] Shareholder and Equity Information - The weighted average number of ordinary shares outstanding increased to 3,510,328 in the six months ended June 30, 2024, from 1,765,142 in the same period of 2023[93] - The company granted 115,635 fully vested restricted shares (RS) valued at $158 thousand and share-based bonuses totaling $535 thousand during the six months ended June 30, 2024[58] - As of June 30, 2024, the total share-based compensation expenses amounted to $915 thousand, a decrease from $1,409 thousand in the same period of 2023[67] - The company has an unrecognized share-based compensation expense of $152 thousand to be recognized over the average remaining vesting period of one year[67] Financial Instruments and Agreements - The company recognized financial income of $1,419 thousand from the change in fair value of warrants' liability during the reporting period[51] - The company reclassified certain warrants from equity to liabilities at a fair value of $1,649 thousand due to a change in functional currency to the U.S. dollar[51] - The company reported a fair value adjustment of warrants amounting to $4,114 thousand for the six months ended June 30, 2024[88] - The company signed an amendment to the credit facility agreement with the European Investment Bank, extending the availability of €3.5 million for plant expansion to March 31, 2025[95] Investment Agreements - The Company entered into a definitive securities purchase agreement with Alpha Capital Anstalt for a private placement of 1,000,000 Ordinary Shares at a price of $1.05 per share[98] - The closing of the private placement is subject to conditions, including obtaining consent from an existing lender within 90 days[98] - The investor has a one-time future investment right to subscribe for an additional 1,000,000 Ordinary Shares at a price of $2.50 per share, triggered when the Company's Ordinary Shares close at or above $2.50 on Nasdaq[98] - The future investment right must be exercised within 12 months after the closing date of the initial placement[98] - Investors must notify the Company in writing by 4:00 PM (New York City time) on the fifth business day following the trigger date to undertake the future investment[98] - The agreement includes restrictions to ensure that the investor does not exceed a beneficial ownership limitation of 24.99% of the outstanding Ordinary Shares after the issuance[98]

. | --- | --- | |------------------------------------------------------------------------------|-------| | | | | His Means And Mission To Become A Thermal Energy Storage Provider Powerhouse | | Q. The discussions about cleaner and more efficient energy sources are global. How does Brenmiller Energy fit into the conversation? A. Let me note this first: We identify at least seven companies we directly compete with. They all have intrinsic strengths that can help serve a thermal energy storage sector expected ...

A. The bGen™ ZERO is a cutting-edge TES system that utilizes crushed rocks to store heat at high temperatures. This stored heat can be released in various forms—steam, hot water, or hot air—tailored to the specific needs of industrial processes. That use-based diversity uniquely allows the bGen™ ZERO system, through intentional design, to replace traditional fossil fuel boilers and substantially reduce greenhouse gas emissions. A. Absolutely. As of last month, Brenmiller has been active in discussions to ad ...

● acquire another entity or business; As a result of the restrictions contained in the credit facility agreement with EIB, and that may be contained in any agreements for future indebtedness, we may be limited in how we conduct our business, unable to raise additional debt financing to operate during general economic or business downturns or unable to compete effectively or take advantage of new business opportunities or raise capital for project finance. These restrictions may affect our ability to grow in ...

ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (“TES”), today announced it was chosen as a finalist in BloombergNEF’s BNEF Pioneers competition which identifies key challenges on the path to a net-zero economy and highlights innovative companies developing the technologies to overcome them. Bloomberg Finance L.P.’s BloombergNEF is a leading provider of forward-thinking primary res ...

ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (“TES”), today announced that it has completed all required system tests and operator training and has handed over its first bGen™ installation in the United States to a State University of New York (SUNY) campus. The bGen™ storage system installation at a SUNY college charges by using both exhaust gas and electricity and discharges hea ...

ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (“TES”), today announced it has signed a definitive agreement for a seven-year, $3.55 million project to supply electric process heat to Wolfson Hospital, a public medical center located near Tel Aviv in Holon, Israel. The Israeli Ministry of Finance approved a budget of up to NIS 13 million (approximately US$3.55 million) for Wolfson ...

ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy”, the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (TES), announced today the closing of its previously announced offering of 888,890 units (“Units”), with each Unit consisting of one ordinary share, no par value per share (“Ordinary Share”), of the Company (or pre-funded warrant in lieu thereof) and one warrant to purchase one Ordinary Share, at a price per Unit of $4.50, less $0.0001 for ...

ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy”, the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (TES), announced today it entered into a securities purchase agreement with a U.S. based institutional investor for the issuance and sale of 888,890 units (“Units”), with each Unit consisting of one ordinary share, no par value per share (“Ordinary Share”), of the Company (or pre-funded warrant in lieu thereof) and one warrant to purchase ...

ROSH HA’AYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a global leader in thermal energy storage (“TES”), today announced that it has received a $450,000 grant from the Israel Innovation Authority to be applied to its TES project at Wolfson Hospital in Holon, Israel. The Company previously announced approval from the Israel Ministry of Finance for a $3.7 million budget to develop and operate a bGen™ ZERO system for Wolfson Hospital ...