Business
Brenmiller Reports First Half 2024 Financial Results: Upcoming Catalysts Include Potential Milestones on Project Pipeline Representing Up-To $500 Million in Potential Value
Brenmiller entered a definitive agreement for a $1.05 million private placement priced at a 52% premium to market on August 2, 2024, with an existing
About this update from Brenmiller Energy Ltd
[{"type":"text","content":"\n\nBrenmiller entered a definitive agreement for a $1.05 million private placement priced at a 52% premium to market on August 2, 2024, with an existing institutional shareholder which will have the right to make a further investment an additional 1 million shares, in the event the Company’s ordinary shares close at or above $2.50 per share within the next 12 months\n\n\n\nProjects currently in development and construction phases are expected to produce multiple recurring revenue streams\n\n\n\nExpanding bGen™ into new application for cooling AI data centers with the development of a Cold Thermal Energy Storage solution, the bGen™ Cool\n\n\n\n ROSH HA’AYIN, Israel--(BUSINESS WIRE)--\nBrenmiller Energy Ltd. (\"Brenmiller\", \"Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (\"TES\") solutions for industrial and utility markets, today reported financial results as of and for the six months ended June 30, 2024, in addition to operational and recent business development updates.\n\n\nManagement Commentary\n\n\n“Our pioneering bGen™ thermal battery continues to support the growing and mostly unmet need for on-demand access to sustainable heat. We have built an impressive project pipeline, potentially worth up to $500 million in value, and our team is working tirelessly, day in and day out, to move this pipeline forward so that we can start delivering meaningful cost savings and emissions reductions for our customers as well as recurring revenues for our company and value for our shareholders,” said Brenmiller Chairman and Chief Executive Officer, Avi Brenmiller, “Among the proposals in our pipelines, several include negotiations with some of the world’s largest producers of consumer goods, including Fortune 500s. All of our potential contracts are in geographic markets with robust manufacturing sectors and where established regulations make our technology feasible and cost-competitive—or cheaper—with fossil fuels.”\n\n\n“In an exciting new development, our team is exploring ways to expand our technology’s capabilities to deliver cold thermal energy storage (“CTES”) for artificial intelligence (“AI”) data centers. The rapid growth of AI computing and the funding-rich ecosystem around AI applications has created downstream decarbonization and financial opportunities that we beli...