Brenmiller Energy Ltd · NASDAQ:BNRG
Brenmiller Energy — Investor Presentation (December 2022)
23 slides from Brenmiller Energy's investor presentation, Dec 6, 2022
Slide 1: Investor Presentation, December 6, 2022
4 Investor Presentation December 6, 2022 a)\ BRENMILLER THERMAL ENERGY STORAGE
Slide 2: Disclaimer
Disclaimer This presentation of Brenmiller Energy Ltd . (the “Company”, “Brenmiller” or “Brenmiller Energy”), the oral presentation of the information contained in this presentation and any question and answer session that may follow contain “forward - looking statements” within the meaning of the s
Slide 3: About
ABOUT We are a clean - tech company that develops, manufactures and sells our Thermal Energy Storage (“TES”) solutions to decarbonize heat in industrial and power plants Founded Capital Investments since inception to date Employees Nasdaq Tel Aviv 3
Slide 4: Thermal Energy Storage
Thermal Energy Storage Heat battery based on crushed rocks enabling transition from fossil fuels to renewable energy 4
Slide 5: Innovation
INNOVATION Thermal Storage Heat Exchanger Steam Generator Clean & Efficient 30 + years cycles Modular 10MWh - 1000MWh Low - cost materials 5
Slide 6: How it works
ricity Heat High efficiency Electrical heaters inside Heat transfer inside HOW I Elect T WORKS 6
Slide 7: Project Updates
Project Upd ates • Completed installation and connection of the TES at Enel’s power plant in Italy; the first thermal storage of its kind in the world operating inside a power plant • Strategic importance – the project will allow the company to present technological feasibility to customers • Would
Slide 8: Project Overview
Project Overview Thermal storage system in a combined - cycle gas power plant; we finished the installation and started hot commissioning • Storage capacity of up to 24MWh • Enables shifting energy from off - peak hours to peak hours – improving revenues from energy sales • The power plant will gene
Slide 9: Updates H2/2022
UPDATES H2/2022 9 ● MoU with Green Enesys and Viridi RE for economic feasibility collaboration to integrate thermal energy storage in green hydrogen projects ● First withdrawal of 4 million euros under the credit facility with the European Investment Bank (EIB), and orders for equipment in the aggre
Slide 10: Business Model
BUSI NESS MODEL Energy As a Service Sale of clean energy as a service, in a long - term PPA • Target IRR for Brenmiller over 10% Customer benefits: • No capital expenditures • Reducing operational risk • Green certificates and carbon emission savings 2 Equipment Sale Sale of thermal energy storage s
Slide 11: Philip Morris Project #1 Romania
Philip Morris Project #1 Romania 11 ● Purchase order in Q1/2022 for the sale of a thermal energy storage system with capacity of 31.5MWh for ~$9.2m ● Building permits are expected to be received during Q1/2023 ● Completion of the project is expected early 2024 ● The project was signed as part of a f
Slide 12: Estimated Thermal Energy Storage (TES) Market
Es Insta timated Thermal Energy Storage (TES) Market lled capacity in 2040 is expected to exceed the installed electric storage capacity 12 Source: McKinsey & Company Net Zero Heat report, Nov 2022; Long Duration Energy Storage (“LDES”)
Slide 13: Markets: Advantages of Thermal Energy Storage
Markets* 13 Advantages of Thermal Energy Storage • Reducing GHG emissions by replacing fossil fuels with renewable fuels for heat production • Energy security and reliability; Especially in Europe, easing dependence on natural gas • Electrification of industrial heat Heat equipment for Industry TAM
Slide 14: Industrial heat accounts for 20% of global emissions
Industrial heat accounts for 20% of global emissions 14 70% of industrial heat is produced from fossil fuels Heat equipment for Industry TAM $15 B Source: McKinsey & Company Net Zero Heat report, Nov 2022
Slide 15: Wide market potential for TES among industrial markets
Wide mark et potential for TES among industrial markets 15 bGen operates in the temperature range of 100 q c - 500 q c for process heat Source: McKinsey & Company Global energy Perspective 2022
Slide 16: Renewable + TES Heat is competitive to fossil fuel based heat
Renewable + TES Heat is competitive to fossil fuel based heat 16 Levelized cost of heat for selected technologies , $/MWh 1 Source: McKinsey & Company Global energy Perspective 2022
Slide 17: Thermal Storage solutions for power plants
Therma l Storage solutions for power plants Heat Equipment for power plants TAM $48B 17 Gas Power Plants • Energy shifting • Start - up time reduction • Capacity payments, Frequency regulation and other revenue stacking Coal Power Plants Converting coal power plants to grid storage while making use
Slide 18: Coal power plants are retiring, gas will remain dominant
Coal power plants are retiring, gas will remain dominant Natural Gas 24% Coal 31% Nuclear 10% Other Renewables 4% Hydropower 17% Wind 7% Solar Oil PV 4% 3% Source: International Energy Agency (2021), Net Zero by 2050 Global fuel sources for electricity generation in 2020 60 50 40 30 20 10 0 - 10 - 2
Slide 19: TES for gas power plants
TES for gas power plants Energy shifting and flexible operation to reduce emissions and additional revenue streams 19 900 800 700 600 500 400 300 200 100 0 Electricity Output (MW) 600 500 400 300 200 100 0 Electricity Output (MW) PP profile with low penetration of RE PP profile with high penetration
Slide 20: TES for coal power plant
TES for coal power plant Converting coal PP to grid storage • Capital investment is significantly lower than electric storage • Long duration storage of 4 - 12 hours, when storage duration in batteries is usually 1 - 4 hours • Grid storage facilities to store excess renewable energy, and allows disc
Slide 21: Pipeline building with global companies
Brenmiller is at various stages of activities and pipeline building with global companies The company expects securing new projects in the prospective future 21
Slide 22: Production Plant
Production Plant • First withdrawal from EIB credit facility in favor of capital expenditure for automated factory and increasing production capacity • The plant is designed to produce storage modules with an annual capacity of up to 4,000 MWh and will be able to support the backlog for 2023 - 2024
Slide 23: Thank You
a\\ BRENMILLER THERMAL ENERGY STORAGE Thank You
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