Brenmiller Energy Ltd · NASDAQ:BNRG
Brenmiller Energy — Investor Presentation (August 2023)
23 slides from Brenmiller Energy's investor presentation, Aug 9, 2023
Slide 1: bGen ZERO Next Generation Power to Heat
BGEN ZERO NEXT GENERATION POWER T O HEAT AUGUsT 2023
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 Brenmiller Energy
2012 FOUNDED 60 EMPLOYEES $100M IN CAPITAL INV E S TM E N T S SINCE INCEPTION TO DATE 4 IN S T ALL E D PROJECTS 4 STRATEGIC P A R T N E R SHI PS ABOUT B R E N M I LL ER E N E R G Y WE ARE A CLEAN - TECH COMPANY THAT DEVELOPs, MANUFACTUREs AND sELLs THERMAL ENERGY STORAGE (TES) sOLUTIONs TO DECARBONI
Slide 4: Decarbonization of heat is the low hanging fruit of fighting climate change
DECARBONIZATION OF HEAT Is THE LOW HAN G ING FRUIT OF FIGHTING CLIMATE CHANGE 4
Slide 5: Global final energy use by sector
GLOBAL FINAL EN E RGY USE BY SECTOR S OURCE: R E N 21 2022 % OF GLOBAL F I NAL E N E RGY Us E BY s E CT OR, COO L I NG AND TRANs PORT E L E C T R I CITY R E L L OC AT E D ELECTRICITY 17 % HEAT & COOLING 51 % TRAN s PORT 32 % 5
Slide 6: Heat is the largest energy end-use
HEAT Is THE LARGEsT ENERGY END - UsE. PROVIDING HEATING FOR HOMEs, I NDU s TRY AND OTHER APPLICA T IONs ACCOUN T s FOR AROUND HALF OF TOTAL ENERGY CONsUMPTION AND EMIssIONs 6
Slide 7: According to McKinsey, TES is the most competitive way to decarbonize industrial processes
ACCORDING TO MCKINsEY, TES WITH ELECTRIC BOILERs OR HEAT PUMPs, Is THE MOsT COMPETITIVE WAY TO REPLACE NATURAL GAs AND DECARBONIZE INDUsTRIAL PROCEssEs Gas boiler Gas boiler with CCS Hydrogen boiler So Biomass boiler urce: McKinsey & Com Electric boiler with Li - ion battery pany Net Zero Heat repor
Slide 8: Regulatory support: substantial incentives and aggressive steps to reduce gas consumption
REGULATO R Y SU P PORT SUBsTANTIAL INCENTIVEs AND AGGREssIVE sTEPs TO REDUCE GAs CONsUMPTION 8
Slide 9: bGen ZERO Power-to-Heat Thermal Energy Storage
BGEN ZERO POWE R - TO - HEAT THERMAL ENERGY STORAGE Z e r o e m is s io n s Modular 10MWh - 1,000MWh Unlimited Cycles 30+ years Low - Cost materials Simple O&M 9
Slide 10: Electric heating and storage in one
High - efficiency embedded electric heaters Hot Water 100 Σ c - 500 Σ c Steam ELECTRIC H EATING & STORAGE IN ONE 97% Round trip efficiency 10
Slide 11: bGen ZERO improved charging performance designed for grid services
10 0 % Electricity for charging 40% Increase in charging power* 1 Second response rate for fast charging BGEN ZERO IMPROVED CHARGI N G PERFORMA N CE D E sIGNED FOR GRID sERV I CEs 11
Slide 12: bGen ZERO improved efficiency
3 3 % R edu c tion in Heat loss* 97 % Charging E f ficien cy 99 % Power - to - Heat Cycle efficiency 98 % Y e a r - r ound Availability BGEN ZERO IMPROVED EFFICI E N C Y 12
Slide 13: bGen ZERO improved economics
BGEN ZERO IMPROVED ECON O MICs 34% Imp r o v em e n t in energy density* 40% Improvement in discharge power* 90% P r e - f abri c at ed components 13
Slide 14: From rocks to thermal energy storage
FROM ROCKS TO THERMAL ENERGY STORAGE • Rocks are crushed to small bits • Thin metal cells (“bCells”) are filled with the crushed rocks • bCells are stacked in to 12 meters modules • Electrical heaters are embedded • Modules are assembled on - site to a structure • Structure is insulated and connecte
Slide 15: Production plant: ready to ramp revenues
PRODUCTION PL A NT: READY TO RAMP REV E NUEs • European Investment Bank credit facility funding capital expenditure for automated factory and increasing production capacity • Plant is designed to produce storage modules with an annual capacity of up to 4,000 MWh and will be able to support orders fo
Slide 16: Business model #1 – Equipment sale
BUSINESS MODEL #1 – EQUIPMENT SALE SALE OF THERMAL ENERGY sTORAGE sOLUTIONs TO INDUsTRIAL FACILITIEs AND POWER PLANTs • Gross profit target - 30% • After sale services - up to 5% of equipment sale • Warranty • Maintenance • Optimization 16
Slide 17: Business model #2 – Energy as a service
BUSINESS M ODEL # 2 – ENERGY As A SERVICE JV WITH LEADING GLOBAL CLEAN ENERGY UTILITIEs TO PROVIDE CLEAN sT E AM A N D GRID s ERV I CEs • brenmiller to provide the technology and integration • partner will provide the clean electricity and finance • jv sells energy and grid balancing services Custom
Slide 18: Grid services: substantial revenue streams for TES
GRID SERVICES S U BsTA N TIAL R E VEN U E sTR EAM s FOR T ES • Grid flexibility and stabilization : Using excess renewable energy to generate heat • Demand - side management: Balancing electricity demand by shifting it to the heat sector • Utilization of curtailed energy: Preventing renewable energy
Slide 19: Building the pipeline – focus on Europe and US
BUI L DING T HE PIP E LINE – FOCUs ON EUROPE AND US 19
Slide 20: Largest TES system in the world connected to a large gas power plant
LARGEST TES SYSTEM IN THE WO R LD CO N NECT E D TO A LARGE G A S POWER P L A NT • 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 generate additional revenue streams by improved response times
Slide 21: New projects & agreements
NEW PROJECTs & AGREE M ENTs Leading Beverages Manufacturer: 32 MWh bGen TES to replace fossil fuel ● One of Israel’s largest beverage companies ● Partially owned by Heineken International B.V. ● Received approval for $610 K grant from Israel Ministry of Environmental Protection Global Energy Utility
Slide 22: To fight climate change – thermal energy storage is a key technology
TO F I GHT CLI M ATE CHANGE – THERMAL ENERGY ST O RAGE Is A KEY TE C HNOLOGY The bGen Ρ ZERO ● Enables electrification of heat ● Enables the use of intermittent RE sources to provide stable reliable heat ● Utilizes and support the electricity grid 23
Slide 23: Brenmiller – Thank you
a\ BRENMILLER THERMAL ENEREY STORESE THANK YOU ay
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