Business
Brenmiller Hits Key Project Milestone in Hungary: Secures Land for 30 MWh Thermal Energy Storage Project for Pet Food Manufacturer
Moves ahead with 12-year Heat as a Service (“HaaS”) agreement with Partner in Pet Food Hungaria KFT (“PPF”), one of Europe’s leading private label pet food
About this update from Brenmiller Energy Ltd
[{"type":"text","content":"\n\nMoves ahead with 12-year Heat as a Service (“HaaS”) agreement with Partner in Pet Food Hungaria KFT (“PPF”), one of Europe’s leading private label pet food producers\n\n\n\n\n\nBrenmiller to build, own, and operate a bGen™ ZERO thermal energy storage (“TES”) system adjacent to PPF’s factory in Dombovar, Hungary, and provide PPF with electric steam at a fixed price, which is expected to allow the pet food manufacturer to use 25-30% less gas, lowering its energy costs and carbon footprint\n\n\n\n TEL AVIV, Israel--(BUSINESS WIRE)--\nBrenmiller Energy Ltd. (\"Brenmiller\", \"Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global energy provider of TES solutions to industrial and utility markets, today announced that Brenmiller Europe S.L. (\"Brenmiller Europe\"), its joint venture with renewable energy developers Green Enesys and Viridi RE, has established a wholly-owned special purpose vehicle (“SPV”) subsidiary in Hungary, called Bren-Dom-TES Kft. The local entity recently executed agreements to secure an option to acquire the land adjacent to PPF’s factory.\n\n\nThe 10,000+ square meter plot is where Brenmiller Europe plans to build a 30 MWh bGen™ ZERO TES system, which will take precedence over PPF’s fossil fuel boilers. It will charge using electricity from the local grid, and Brenmiller Europe will deliver electric steam to PPF through a HaaS agreement. Transitioning from traditional combustion practices to Brenmiller’s TES system is expected to allow PPF to reduce its gas consumption by 25-30%, significantly lowering energy costs and its carbon footprint. When the bGen™ is operational, Brenmiller Europe will be in a position to earn additional recurring revenue streams by providing grid balancing services to the local transmission system operator.\n\n\n“We believe that our local operation in Hungary unlocks critical project-based financing, enabling us to meet our customer commitments on time while helping fast-track this European clean industry initiative,” said Avi Brenmiller, Chairman and Chief Executive Officer. “Our TES project for PPF is among the first commercial projects of its kind and serves as a model for scaling our technology worldwide.”\n\n\nApproximately 50% of Brenmiller’s $440 million global pipeline of commercial opportunities originates in Europe, spanning nine industries across eleven E...