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Brenmiller Signs MoU with India’s Largest Solar Panel Manufacturer Waaree Energies to Deploy Thermal Energy Storage Projects in India
Marks Brenmiller’s entrance into the Indian market, the world’s 5th largest economy Solar-powered bGen™ thermal energy storage systems will help India
About this update from Brenmiller Energy Ltd
[{"type":"text","content":"\n\nMarks Brenmiller’s entrance into the Indian market, the world’s 5th largest economy\n\n\n\nSolar-powered bGen™ thermal energy storage systems will help India transition to a 50% renewable energy supply by 2030\n\n\n\n ROSH HA’AYIN, Israel & MUMBAI, India--(BUSINESS WIRE)--\nBrenmiller Energy Ltd. (\"Brenmiller\", \"Brenmiller Energy” or the “Company”) (Nasdaq: BNRG, TASE: BNRG), a clean energy company that provides Thermal Energy Storage (“TES”) systems to global industrial and utility markets, today announced that it has signed a Memorandum of Understanding (“MoU”) with Waaree Energies Ltd. (“Waaree”), India’s largest manufacturer of solar panels, to implement bGen™ TES in India. This announcement marks Brenmiller’s entrance into the Indian market, adding to the Company’s growing global presence including Israel, Europe, and the U.S.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230726530723/en/Left to Right: Tal Tutnauer, Business Development Director & Doron Brenmiller, Chief Business Officer from Brenmiller Energy; Dinesh Kumar Gupta, Abhishek Shah & Rajesh Sharma, Chief Growth Officer from Waaree (Photo: Business Wire)\nUnder the terms of the MoU, Brenmiller and Waaree will jointly explore, develop, and deploy solar-powered TES systems in India, subject to entry into a definitive agreement.\n\n\nBrenmiller’s award-winning bGen TES system is a mature, scalable, and cost-effective solution that enables 24/7 renewable management for industrial processes and power production. The bGen can store energy in the form of heat for minutes, hours, or days, and produce steam, hot water, or hot air on demand. In addition to decarbonization, Brenmiller’s TES technology provides critical reliability and protection from renewable intermittency and fluctuations in energy market prices.\n\n\n“We’ve seen a massive uptick in demand for our TES systems in response to climate-forward policies, rising energy costs, and challenges to reliability,” said Avi Brenmiller, president and Chief Executive Officer of Brenmiller. “Our team is thrilled to collaborate with Waaree to bring bGen TES to India’s industrial and utility markets.”\n\n\n\"In India, steam and other high-temperature processes for industrials are primarily powered by coal, accounting for roughly 25 percent of India's ...