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Brenmiller Receives $450,000 Grant to Supply Low-Carbon Electric Heat to Wolfson Hospital
The grant, provided by the Israel Innovation Authority, will help improve project economics Government incentives for renewable energy projects, like
About this update from Brenmiller Energy Ltd
[{"type":"text","content":"\n\nThe grant, provided by the Israel Innovation Authority, will help improve project economics\n\n\n\nGovernment incentives for renewable energy projects, like Brenmiller’s bGen™ ZERO for Wolfson Hospital, accelerate market adoption and unlock opportunities for deep decarbonization\n\n\n\n ROSH HA’AYIN, Israel--(BUSINESS WIRE)--\nBrenmiller 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 over a seven-year term. According to the Israel Ministry of Finance, Brenmiller’s TES system has the potential to reduce costs for Wolfson Hospital by up to $1.3 million annually and lower its carbon footprint by 3,900 tons per year.\n\n\nCapital allocated to accelerate industrial heat decarbonization is at an all-time high, thanks to proposed U.S. tax incentives and various European Union funds and plans. This provides fertile ground for clean energy projects to yield even more attractive returns. Brenmiller, with its strong track record in project financing, is uniquely positioned to capitalize on this momentum and help clients optimize their returns.\n\n\n“Government funding and incentives have become game-changers,\" stated Brenmiller Chairman and CEO, Avi Brenmiller. \"They pave the way for profitable, sustainable businesses in clean energy, particularly in thermal energy storage and industrial decarbonization, and accelerate the adoption of new technologies like our bGen™ ZERO.\"\n\n\nThis marks the most recent grant received by Brenmiller following a grant for NIS 2.2 million (approximately $595,000) from the Israel Ministry of Environmental Protection to replace fossil fuel boilers and generate clean steam at a beverage plant owned by one of Israel’s largest beverage companies, and a subsidiary of Heineken International B.V., Tempo Beverages Ltd.\n\n\nBrenmiller’s bGen™ ZERO is a thermal energy storage system that converts electricity into heat to power industrial processes at a price that is competitive with natural gas. The b...