Brenmiller Energy Ltd · NASDAQ:BNRG
Brenmiller Energy — Investor Presentation (June 2024)
23 slides from Brenmiller Energy's investor presentation, Jun 25, 2024
Slide 1: June 2024 Company Overview
JUNE 2024 COMPANY OVERVIEW Nasdaq: BNRG
Slide 2: Disclaimer
2 Nasdaq: BNRG Disclaimer This presentation of Brenmiller Energy Ltd . (the “ Company ” , “ Brenmiller ” or “ Brenmiller Energy ” ), any oral presentation of the information contained in this presentation and any question - and - answer session that may follow contain “ forward - looking statements
Slide 3: About Brenmiller Energy Ltd.
3 Nasdaq: BNRG Nasdaq listed: BNRG ABOUT Brenmiller Energy Ltd. Employees As of June 2024 51 Founded Capital Investments 1 since inception 2012 $ 115 M We are a clean - tech company that develops, manufactures and sells our Thermal Energy Storage ( “ TES ” ) solutions to decarbonize heat for industr
Slide 4: From Rocks to Thermal Energy Storage
4 Nasdaq: BNRG From Rocks to Thermal Energy Storage Thin metal cells ( “ bCells ” ) are filled with the crushed rocks Rocks are crushed to small bits bCells are stacked into 12 meter modules Electrical heaters are embedded Modules are assembled on - site to a structure Structure is insulated and con
Slide 5: Introducing bGen
5 Nasdaq: BNRG Embedded electrical heaters Introducing bGen TM Zero 100 ƒ - 500 ƒ Steam Hot air Source : Company materials Decarbonizing heat through tested thermal energy storage
Slide 6: Brenmiller overview
6 Nasdaq: BNRG Brenmiller overview Source : Company materials & website 1 . SystemIQ – Global ETES Opportunity, 2 . Levelized cost of heat range based on different service models. 75 MWh 2024 Belgian market illustrative case study with 5 MW steam demand, € 10 m CAPEX, € 64 /MWh steam price, € 30 /MW
Slide 7: Milestones
7 Nasdaq: BNRG 1 MWh IDF pilot Product development Full scale demonstration 0.5 MWh 4 MWh Commercial pilot 24 MWh Power plant pilot 32 MWh Heat as a service agreement Manufacturing plant 73 MWh to date Milestones Founded 2012 2014 2016 2022 2023 PILOTS TECHNOLOGY R& D COMMERCIAL Development Validate
Slide 8: Key points
8 Nasdaq: BNRG Key points Industry is the largest emitter of GHG ▪ 11 GT CO 2 annually from industrial heat 1 ▪ 25 % of total global GHG emissions from heat 2 Thermal Energy Storage ( “ TES ” ) = flexibility for grid ▪ TES charges when convenient for wind & solar ▪ Minimize curtailment & provide rel
Slide 9: Renewable heat essential for net zero
9 Nasdaq: BNRG Renewable heat essential for net zero Sources: 1 Rhodium Group; 2 International Energy Agency, Renewable energy for industry, 2017 Other , 13 % Industry , 32 % Transport , 31 % Residential , 24 % 26 % 74 % Electricity Heat Global energy consumption 30 % Natural Gas 45 % Coal 15 % Oil
Slide 10: TAM, SAM and SOM by industry
10 Nasdaq: BNRG Aluminium Textiles Pulp, paper, print Food beverage, tobacco Chemicals Cement Iron and steel 0 1,000 2,000 10,000 3 % 3 % 94 % 2 % 10 % 14 % 73 % 11,000 4,500 21 % 10 % 3 % 66 % 5,000 41 % 39 % 11 % 8 % 2,000 11 % 83 % 4 % 2 % 2,000 500 400 69 % 10 % 30 % 65 % 25 % 11 % 62 GWh 3 SOM
Slide 11: Transition from fossil fuels to renewable industrial heat
11 Nasdaq: BNRG ▪ Fossil fuels provide 90 % of industrial heat today 2 ▪ Power to heat TES is proven & able to scale to industrial level 3 ▪ RE costs are more predictable and provide energy security 4 ▪ Industrial users looking for more cost - effective solutions 3 ▪ Less expensive, on demand & grid
Slide 12: Charging at Cumulative Negative Prices is Becoming More Feasible
12 Nasdaq: BNRG Charging at Cumulative Negative Prices is Becoming More Feasible Source : Company materials Cumulative Negative Electricity Prices Will Increase Tenfold in the Years to Come Cumulative hours of negative wholesale power prices, forecasts for UK 750 500 250 0 1,000 hours 2027 2026 2025
Slide 13: Renewables + TES is competitive now
13 Nasdaq: BNRG 1 Source: McKinsey & Company Global Energy Perspective 2022 . 2 Company estimate based on off - peak electricity charging. Levelized cost of heat for selected technologies, $/MWh 1 Renewables + TES is competitive now C 0 2 emissions Other costs Heating equipment Storage Power Capex O
Slide 14: Business models
14 Nasdaq: BNRG Business models Diversified income stream from multiple services, tailored to customer Example in a European Country: 75 MWh Project Capitalized recurring revenue stream for 15 - year PPA Equipment sales One - off sale with O&M contract Heat - as - a - service ( “ HaaS ” ) Supply cle
Slide 15: Tested Manufacturing Approach
15 Nasdaq: BNRG Tested Manufacturing Approach Market leader in live production capacity, operational capability edge attracting clients Source : Company materials. The Company estimates approximately $ 200 M in revenue from potential production capacity annually if operating at full scale. 4 GWh man
Slide 16: Go-to-market strategy
16 Nasdaq: BNRG Country selection ▪ Cost advantage over incumbent ▪ Grid service revenue streams ▪ Emission targets & carbon taxes Channel partners opening key markets Go - to - market strategy ▪ 100 - 600 ˚C temperature need ▪ Economically viable today ▪ Short sales cycles Flexible approach unlocks
Slide 17: Traction: Collaborations
17 Nasdaq: BNRG Traction Collaboration scope Geography Collaborator 24 MWh project Decarbonize industrial heat across Enel client base Global gas & electricity distributor 1 MWh biomass to steam project Brazil & Colombia Distributor of photovoltaic products In discussions for 2.5 GWh opportunities S
Slide 18: Commercial pilots and projects
18 Nasdaq: BNRG Commercial pilots Off - peak electricity TES for hospital 12 MWh 32 MWh TES for beverage factory Hybrid charging TES 1 MWh Thermal power plant TES 24 MWh Commercial projects Under Development
Slide 19: Commercial opportunities of ~6 GWh
19 Nasdaq: BNRG HaaS Equipment Attracted extensive commercial opportunity interest, diversified across geographies and services Commercial Opportunities of ~ 6 GWh USA Brazil Canada Netherlands France Germany Hungary Spain Switzerland Israel Italy Australia India Building materials Mining and metals
Slide 20: Pursuing Attractive Heat-as-a-Service
20 Nasdaq: BNRG Pursuing Attractive Heat - as - a - Service ( “ HaaS ” ) European Opportunities Food Industry Juices & Beverages Building Materials Consumer Goods HaaS Projects Key Projects Source : Company materials Focusing on Industrial Segments
Slide 21: Company Catalysts
21 Nasdaq: BNRG $ 63 B addressable market 1 - Patented technology addresses tremendous demand for efficient, clean energy storage As renewable energy generation increases, the need for a reliable method to store clean energy is a major challenge facing industry and regulators BNRG is industry leader
Slide 22: Operational team and Board of Directors
22 Nasdaq: BNRG Operational team Doron Brenmiller Director & CBO Nir Brenmiller Director & COO Ofir Zimmerman CFO Gilad Walker VP Projects Eli Lipman VP R& D Merav Gilad Head of Engineering Ronit Sade Head of EHS Rami Ezer VP Engineering Avi Sasson VP Operations Leading team Boaz Toshav Director Che
Slide 23: Thank You
> BRENMILLER . Thank You
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