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Brenmiller Energy Reports Third Quarter Operational Update and Financial Results
Completion of Current Thermal Energy Storage Projects Positions Brenmiller for Additional Orders in 2023 ROSH HAAYIN, Israel--(BUSINESS WIRE)-- Brenmiller
About this update from Brenmiller Energy Ltd
[{"type":"text","content":"\nCompletion of Current Thermal Energy Storage Projects Positions Brenmiller for Additional Orders in 2023\n\n ROSH HAAYIN, Israel--(BUSINESS WIRE)--\nBrenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, today announced financial results as of and for the nine and three months ended September 30, 2022, in addition to operational updates.\n\nCompany Highlights\n\n\nInaugurated our first utility-scale project with Enel in Italy; operating successfully to date\n\n\nSigned a memorandum of understanding with Green Enesys and Viridi RE to explore the integration of the Company’s bGen™ in potential Green Hydrogen and Green Methanol projects\n\n\nCompleted the first draw down for €4 million, on July 28, 2022, under our credit facility with the European Investment Bank (“EIB”), to support accelerated investment in our production facility in Dimona, Israel.\n\n\nCompletion and commissioning of pilot projects is laying a foundation for increased commercial orders in 2023 and beyond\n\n\nPlaced USD $2.0 million in equipment orders to facilitate the expansion of the Dimona, Israel facility; on track to reach full production in 2023\n\n\nManagement Commentary\n\n“Throughout 2022 Brenmiller has shown great progress towards its efforts to become one of the global leaders in thermal energy storage solutions for industrial and utility markets,” said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. “We have completed installations and begun operations at multiple pilot projects around the world, establishing the Company as a formidable global player. I’m particularly excited about the inauguration of our first utility- scale project in Italy earlier this month, which marks the realization of several years of hard work and dedication by the entire Brenmiller team and our partners from the Enel Group and Enel Green Power. The project is a major milestone in our company’s history; we believe it will help showcase the benefits our technology has on reducing emissions and improving operating costs at a large-scale facility and give other global power producers the confidence they need to invest in our technology.”\n\n“Looking forward, we continue to see str...