Brenmiller Energy (NASDAQ: BNRG), a leading global energy provider of thermal energy storage ("TES") solutions to industrial and utility markets, shared key insights and accomplishments during its participation at the Emerging Growth Conference on February 18, 2025.
At the conference, Brenmiller Energy COO, Nir Brenmiller, highlighted its strong momentum heading into 2025, driven by an unprecedented surge in TES demand and a global commercial pipeline exceeding $440 million. The company's strategic infrastructure investments, including the expansion of its gigafactory and joint ventures, are accelerating the adoption of industrial decarbonization solutions worldwide. See the video in its entirely:
Video Link: https://www.youtube.com/embed/lsLMGMCkM2s?si=Ia7RfMfZKIbPy9oc
Conference Highlights:
European Market Leadership and Strategic Partnerships
More than 50% of Brenmiller's commercial pipeline originates in Europe, where industrial decarbonization remains a top priority. Discussions at the conference underscored the significance of Brenmiller Europe S.L., a joint venture with Green Enesys and Viridi, in driving adoption. A key highlight was the 30 MWh bGen™ ZERO system for Partner in Pet Food Hungaria KFT, under a 12-year Heat as a Service (HaaS) agreement, demonstrating the financial and environmental benefits of TES adoption. Additionally, a partnership with Entelios AG in Germany positions Brenmiller to capture a share of the projected $2.9 billion TES market by 2028.
Beyond Europe, Brenmiller’s collaboration with Tempo, a major beverage producer partly owned by Heineken International B.V., showcased how TES is transforming industrial heat generation. By replacing fossil-fuel boilers with bGen™ ZERO technology, the 32 MWh system is projected to save over $7.5 million in energy costs over 15 years and cut 6,200 tons of carbon emissions annually. Additional agreements, such as the $3.55 million project with Wolfson Hospital, further exemplify the rising demand for Brenmiller’s solutions.
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Brenmiller’s Differentiated TES Advantages
The conference discussions reinforced Brenmiller's competitive edge over traditional battery storage solutions. Unlike lithium-based alternatives, Brenmiller’s TES technology provides cost-efficient, long-duration energy storage without supply chain risks. The company’s gigafactory, with an annual production capacity of 4 GWh, is already scaled to meet the rising demand for industrial decarbonization solutions.
A notable development highlighted during the event was the partnership with TUTCO Heating Solutions Group, a subsidiary of a £5.6 billion industrial technology leader. This collaboration strengthens Brenmiller’s supply chain and enhances production capabilities, ensuring seamless delivery to Fortune 500 companies and large-scale industrial clients integrating TES for cost savings and carbon reductions.
Industrial Electrification and TES Market Growth
Industry projections indicate a 23% CAGR for energy storage through 2030, fueled by regulatory incentives and grid modernization. Conference discussions emphasized how Brenmiller is well-positioned to capitalize on:
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A diversified global presence, reducing market risk and opening new revenue streams.
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The commercial-scale rollout of bGen™ ZERO, meeting surging global TES adoption.
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Performance-based revenue models, enhancing financial scalability.
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Strengthening ESG momentum as industries accelerate clean energy transitions.
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Strategic capital allocation, leveraging institutional confidence and project-based financing.
bGen ZTO Targets $8 Billion Combined Market Opportunity
During the conference, Brenmiller discussed its bGen ZERO Thermal Oil™ (bGen ZTO), a revolutionary TES system set for commercial availability in 2026. Targeting an $8 billion market across pharmaceuticals, chemicals, petrochemicals, and food processing, bGen ZTO offers a zero-emissions alternative to fossil fuel-powered thermal oil heating. With nearly 100% cycle efficiency and minimal maintenance requirements, the system has already secured interest for eight commercial projects worth approximately $170 million.
Strengthening European and U.S. Market Presence
Brenmiller Europe S.L. recently established Bren-Dom-TES Kft. in Hungary to support its bGen™ ZERO TES deployments. The subsidiary has secured an option for land acquisition to install a 30 MWh TES system adjacent to PPF’s production facilities, aiming to reduce gas consumption by 25-30%, cut costs, and generate recurring revenue through HaaS.
In North America, Brenmiller’s exclusive distribution agreement with Rock Energy Storage is accelerating its U.S. expansion. Since mid-2024, the companies have increased their commercial pipeline from $150 million to over $210 million, with multiple projects advancing. Government incentives and the rising demand for long-duration energy storage (LDES) further strengthen Brenmiller’s positioning. Industry data suggests that TES could double LDES capacity potential by 2040, reinforcing the company's long-term growth trajectory.
Outlook for Brenmiller Energy
The conference discussions showcased Brenmiller Energy's leadership in next-generation energy storage solutions. With its advanced bGen technology, expanding global footprint, and strong commercial pipeline, the company is well-positioned to drive sustainable industrial electrification. Brenmiller remains focused on scaling its TES solutions, enhancing shareholder value, and advancing its mission to transform industrial energy storage worldwide.
Sources and references:
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https://bren-energy.com/
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https://www.businesswire.com/news/home/20250204778787/en/Brenmiller-Energy-to-Launch-Revolutionary-bGen%E2%84%A2-Thermal-Energy-Storage-System-to-Electrify-Thermal-Oil-8-Projects-Worth-Approximately-170-Million-Already-in-Commercial-Pipeline
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https://www.businesswire.com/news/home/20240517659552/en/
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About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller’s patented bGen™ 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.
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 development of bGen ZTO, including its future industrial applications, its commercial availability in 2026, the expectancy that bGen ZTO will expand the Company’s total addressable market into the $8 billion annual thermal oil heating equipment market growing at a CAGR of 6%, bGen ZTO’s benefits for the Company’s customers, the planned delivery of bGen ZTO for 8 projects worth approximately $170 million in the Company’s commercial pipeline, that bGen ZTO will combine an internal electric conversion for storage with integrated heat exchange, achieving nearly 100% cycle efficiency through simplified maintenance and indirect oil heating with minimal degradation, smooth stability, and limited breakdown, if any, while heating thermal oil up to 340°C. 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. The Company may not ultimately reach any definitive agreements related to bGen ZTO and the projects under negotiations and/or in the Company’s commercial pipeline may not occur. 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.
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Media:Tori Bentkover
brenmillerenergy@antennagroup.com
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