Brenmiller Energy Launches New Joint Venture in Europe
Brenmiller Energy Ltd. (NASDAQ: BNRG), a leader in thermal energy storage (TES) solutions, has announced a strategic partnership in Europe by creating Brenmiller Europe S.L. This new joint venture aims to boost the distribution and adoption of Brenmiller's cutting-edge bGen™ technology throughout the European market. By teaming up with influential renewable energy developers Green Enesys and Viridi RE, the venture is set to make a significant difference in the region.
Emphasizing Clean Energy and Advanced Technology
The goal of this joint venture is to utilize the expertise of Green Enesys and Viridi RE to launch large-scale clean energy projects. Brenmiller Europe plans to accelerate the uptake of its bGen™ systems, concentrating on sales, energy service delivery, and securing project financing within Europe’s rapidly growing clean energy sector. With exclusive rights to market bGen™ systems in key markets, Brenmiller Europe is in a strong position to address the increasing energy needs.
Strategic Growth and Industry Expertise
Avi Brenmiller, the Chairman and CEO of Brenmiller Energy, highlighted the vast opportunities that Europe offers. By collaborating with established entities like Green Enesys, the company aims to speed up its energy delivery efforts and enhance its international sales and service infrastructure. This development represents a crucial step in expanding bGen™ systems throughout Europe, especially given the region's supportive regulations and financial incentives.
Dedication to Sustainable Energy Innovations
José Luis Morán, the Managing Director of Brenmiller Europe, stressed the importance of this joint venture in promoting sustainable energy practices. By integrating their development expertise with Brenmiller’s TES innovations, they hope to bolster the decarbonization of key industrial sectors and extend renewable energy solutions across Europe.
Advancements in Thermal Energy Storage
At Brenmiller’s gigafactory in Dimona, bGen™ modules will be manufactured, with the company retaining full ownership of its intellectual property. This joint venture, in which Brenmiller Energy holds the majority stake, is designed to tap into Europe’s robust renewable energy infrastructure. Brenmiller’s current project pipeline, valued at $440 million, largely stems from opportunities discovered within Europe, spanning a wide range of industries.
Transforming Energy Services
Brenmiller Energy’s distinctive business model supports the delivery of low-carbon heat both through direct sales of its products and via an innovative Heat-as-a-Service (HaaS) model. This approach not only helps reduce the costs tied to energy transitions for customers but also allows the company to generate steady income from various energy market programs.
About Brenmiller Energy Ltd.
Brenmiller Energy is committed to aiding heavy industries and energy producers to move away from conventional fossil fuel boilers. The company’s patented bGen™ thermal battery system is a modular, versatile energy storage solution adept at converting renewable energy into emission-free heat. This technology captures affordable renewable electricity while providing a readily available heat supply tailored to the unique needs of its customers. Brenmiller is globally recognized as the leading developer of thermal battery solutions and operates the world’s only gigafactory focused on battery production, making it a reliable partner for major global energy companies.
Understanding bGen™ Technology
The bGen™ system works by converting electricity into thermal energy for sustainable use in industrial applications. It charges by collecting low-cost energy from renewable sources or electrical grids and storing it in crushed rock formations. The stored energy can then be released to generate steam, hot water, or hot air as per customer needs. Serving an essential role in the shift to utility-scale renewable solutions, bGen™ also enhances the grid’s ability to balance energy demands. Notably, TIME recognized bGen™ as one of the Best Inventions of 2023 in the Green Energy category.
About Green Enesys and Viridi
Green Enesys Group and Viridi RE Group have built a solid foundation in the renewable energy sector since they launched in 2009 and 2006, respectively. Together, they've successfully developed over 100 projects, with a presence in 15 countries, including offices in Germany, Spain, and Italy. Their joint efforts encompass a wide range of green energy initiatives, including photovoltaic projects and energy storage systems, boasting a project pipeline of approximately 12 GW globally.
Frequently Asked Questions
What is the purpose of the joint venture between Brenmiller and its partners?
The joint venture aims to expand the adoption of Brenmiller's bGen™ technology across Europe, with a focus on product sales and energy services.
Who are Brenmiller Energy's key partners in this venture?
Brenmiller is collaborating with Green Enesys and Viridi RE, both of which have extensive experience in developing renewable energy projects.
What technology is Brenmiller known for?
Brenmiller is recognized for its bGen™ thermal battery technology, designed to convert electricity into zero-emission heat for a variety of industries.
Where is Brenmiller's manufacturing facility located?
Brenmiller produces its bGen™ modules at its gigafactory located in Dimona.
How does the Heat-as-a-Service model benefit customers?
This model lowers the costs related to the transition to cleaner energy sources while providing the company with ongoing revenue opportunities.
