Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, announced today that the Government Procurement Administration of Israel issued a notice on May 25, 2022, regarding an intent to engage with the Company as a sole supplier for the purchase of heat energy at Wolfson Hospital in Israel. Under the proposed engagement Brenmiller will install, at its expense, its thermal energy storage system bGen™, integrate it with the hospital's local energy system, and maintain the installed system.
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Brenmiller Energy's thermal energy storage technology deployed in an industrial setting. (Photo: Business Wire)
Brenmiller plans to enter into an approximately $5 million, seven and one-half year agreement with Wolfson Hospital under which it will supply heat energy at prices to be agreed between the parties.
It is unknown yet whether the agreement with Wolfson hospital will be exempt from a tender process. In the event, it is determined that a tender is required for such engagement, then there is no certainty that the Company will secure the project.
About Brenmiller Energy
Brenmiller Energy’s innovative thermal energy storage solutions are accelerating the electrification and decarbonization of the global economy. Founded in 2012 by Avi Brenmiller, former CEO of Siemens CSP and Solel, and a team of other experts in the field of renewable energy, its patented technology heats crushed rocks to very high temperatures, enabling utility and industrial customers to cost-effectively store energy and then convert this energy into steam, hot water or hot air for a variety of applications. The Company has raised more than $90 million and is traded on the Tel-Aviv Stock Exchange and began trading on Nasdaq on May 25, 2022. For more information visit https://bren-energy.com/ and follow us on LinkedIn https://www.linkedin.com/company/brenmiller-energy/mycompany/.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses agreement with Wolfson hospital Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Registration Statement on Form F-1 filed with the SEC on April 21, 2022, and any subsequent amendments thereto. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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