ROSH HA‘AYIN, IL / ACCESS Newswire / July 31, 2025 / Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (Nasdaq:BNRG), a leading global provider of Thermal Energy Storage (“TES”) solutions for industrial and utility customers, today issued a letter from its Chief Executive Officer, Avi Brenmiller.
To our shareholders, partners, and supporters:
On July 28, 2025, we announced a transformative equity financing agreement with Alpha Capital Anstalt (“Alpha”)-our largest shareholder and one of our most trusted partners.
We believe that the new capital that can become available under the terms of the agreement will enable us to scale and grow faster.
The main benefit for the Company is not just cash, it is focus, attention and balance. Until now, a significant portion of the Company’s efforts have been devoted to securing the capital needed to sustain operations and growth. With the latest financing in place, the Company is now well-capitalized and positioned to shift its focus toward executing on its core strategy-delivering long-term value through product innovation, commercial deployment and scaling operations. This funding milestone marks a turning point, enabling the team to prioritize operational excellence and strategic growth initiatives.
Today, we believe we have the tools to move faster and stronger than ever before and that the Alpha agreement gives us the fuel to keep going-and to go further. We believe that the funding that can reach up to $25 million in stages, reflects a commercial ramp. As a first stage we have received the first $1.2 million in funding. The second stage includes $3.8 million equity financing subject to obtaining shareholder approval and other closing conditions. Alpha has additional investment rights for up to another $20 million through follow-on tranches. If we meet certain conditions, Alpha has agreed to provide us with $15 million over a two-year period beginning after the second stage closes. The structure supports the Company’s growth plans.
What we are building is already taking shape across three continents. In Israel, our bGen™ ZERO system is being deployed at the Tempo Beverages manufacturing plant-producer of Pepsi, Heineken, and other global brands-in a project that will replace fossil-fueled boilers and demonstrate that clean heat can meet the demands of heavy industry. The upcoming launch of the Tempo facility marks a major shift for us, transforming Brenmiller from a bespoke systems maker into a scalable TES solution. In Spain, the European Hydrogen Bank, has granted €25 million funding to SolWinHy Cádiz S.L. in Spain. From the total project, we estimate that our supply of the bGen TES system for the project to be approximately €7 million. There, our system would enable off-grid green methanol production with real-time heat balancing-entirely without fossil fuels.
And in Europe, our projects are estimated to receive approximately €11 million. The latest: Brenmiller Europe S.L. (“Brenmiller Europe”), the Company’s Spain-based joint venture, is expected to supply distributed bGen™️ TES systems with a total electrical charge capacity of approximately 5 MWe, representing approximately €4 million in revenues to Brenmiller Europe for the equipment sale. The project is expected to avoid 1.45 million tons of CO₂, and set the stage for repeatable decarbonization of industrial heat.
Meanwhile, we have signed a strategic non-binding Memorandum of Understanding with ENASCO Ltd., a specialist in Small Modular Reactor (“SMR”) development. Together, we are developing a hybrid SMR + bGen platform designed for artificial intelligence (“AI”) data centers, hydrogen production, and high-resilience baseload power. Under the terms of the Memorandum of Understanding: by 2030, we aim to complete $50 million in commercial deployments; and by 2035, we plan to have 15-20 hybrid nuclear-TES projects in development, with a potential value of up to $650 million.
Europe is not waiting. Policy is in motion. Funding is real. And we are aligned with all of it. We believe that we are qualified to apply for funding through the EU Innovation Fund, as part of their €1 billion auction expected to open in December 2025. And with the pathway to further funding from Alpha, we believe we will have the resources to pursue the opportunities in front of us – aggressively, confidently, and on schedule.
Yes, the journey from zero to 100 takes time. But we are no longer ramping – we are accelerating.
To those who stayed with us through the stillness, thank you. We are excited to show what Brenmiller can do next.
Sincerely,
Avi Brenmiller
Chief Executive Officer
Brenmiller Energy Ltd.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller’s patented bGen™ ZERO 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 when it discusses: that the Company is positioned to shift its focus toward executing on its core strategy; that the Company will deliver long-term value; that this funding milestone marks a turning point for the Company; future funding by Alpha under the current securities purchase agreement; the belief that the new capital will enable the Company to scale and grow faster; the belief that the Company now has the tools to move faster and stronger than ever before; statements that the Alpha funding gives the Company the fuel to go further; the belief that the $25 million in funding reflects a commercial ramp; statement that the upcoming launch of the Tempo facility marks a major shift, transforming the Company into a scalable manufacturing force; estimation that the Company’s supply of the bGen TES system for the Spain project will be approximately €7 million; estimation that European projects will receive approximately €11 million; the expectation that Brenmiller Europe will supply bGen TES systems with 5 MWe charge capacity, representing approximately €4 million in revenue; expectation that the project will avoid 1.45 million tons of CO₂ and set the stage for repeatable decarbonization of industrial heat; statement of strategic MoU with ENASCO to develop hybrid SMR + bGen platform for AI data centers, hydrogen, and baseload power including potential $50 million in commercial deployments by 2030 and the aim to have 15-20 hybrid nuclear-TES projects in development by 2035, valued at up to $650 million; statements that the Company is qualified for EU Innovation Fund auction. 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 important 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. 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, 2024 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 4, 2025, 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.
Contact: investors@bren-energy.com
SOURCE: Brenmiller Energy
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