Brenmiller Issues 2023-2024 ESG Report: Charting the Course to Net-Zero
Brenmiller's bGen™ thermal energy storage (TES) solution enables its customers to meet their own decarbonization goals by reducing greenhouse gas (GHG) emissions
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (NASDAQ:BNRG), a leading global provider of TES solutions for industrial and utility sectors, today released its annual Environmental, Social, and Governance (ESG) report (the "ESG Report"). This comprehensive report details the Company's progress in offering access to zero-emission industrial heat solutions. In addition, the ESG Report showcases how the Company's bGen™ ZERO technology is assisting in transforming industrial energy consumption worldwide.
The Company's bGen™ ZERO provides energy-intensive organizations a way to use electricity and residual heat to generate clean steam, hot water, and hot air for a wide range of industrial applications including food and beverage processing, the production of chemicals and pharmaceuticals, and heating thermal oils. The bGen™ ZERO also offers immense flexibility, which Brenmiller leverages to participate in grid-balancing markets, lower customers' energy costs, increase project revenues, and pave the way for fully renewable power generation.
"This has been a landmark year in our mission to deliver reliable, cost-efficient net-zero heat solutions to various industries," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. "I believe that the thermal energy storage sector is experiencing unprecedented momentum – the most exciting I've witnessed in my 40-year career. Driven by corporate ESG mandates and global decarbonization policies, I believe that the demand for our solutions has never been stronger. We're grateful to our shareholders and stakeholders who support our mission to revolutionize industrial power with cleaner alternatives."
Key Report Highlights:
- Expanding Global Impact: Brenmiller Energy is in the process of commissioning and installing seven global projects with a cumulative 103 MWh of TES capacity.
- Industrial Innovation: The bGen™ ZERO system enables energy-intensive industries to generate clean steam, hot water, and hot air using electricity and residual heat. This versatile solution serves diverse sectors including food and beverage processing, chemical manufacturing, pharmaceuticals, and thermal oil heating.
- Grid Optimization: The bGen™ ZERO system's flexibility allows participation in grid-balancing markets, reducing customer energy costs while facilitating increased renewable energy integration.
- Sustainable Manufacturing: Brenmiller's automated gigafactory manufacturing line for bGen™ ZERO is expected to reduce its operational energy consumption to around one-third of previous levels at full capacity.
- Environmental Leadership: The bGen™ ZERO systems are designed for an exceptionally long lifespan using recyclable, environmentally friendly materials with no need to replace any of the used materials during its lifetime.
Brenmiller Energy's operations account for seven UN Sustainable Development Goals:
- Affordable and Clean Energy (Goal 7)
- Decent Work and Economic Growth (Goal 8)
- Industry, Innovation, and Infrastructure (Goal 9)
- Sustainable Cities and Communities (Goal 11)
- Responsible Consumption and Production (Goal 12)
- Climate Action (Goal 13)
- Partnerships for the Goals (Goal 17)
The report also outlines Brenmiller Energy's ESG targets through 2026, demonstrating the Company's long-term commitment to sustainable industrial transformation.
The full ESG report is available: HERE.
About bGen™
bGen™, Brenmiller's TES system, converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen™ charges by capturing low-cost electricity from renewables or the grid and stores it in crushed rocks. It then discharges steam, hot water or hot air on demand according to customer requirements. The bGen™ also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen™ was named among TIME's Best Inventions of 2023 in the Green Energy category.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at https://bren-energy.com/ and follow the Company on X (formerly Twitter) and LinkedIn.
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: the Company's progress in offering access to zero-emission industrial heat solutions; the Company's bGen™ ZERO technology assisting in transforming industrial energy consumption worldwide; bGen™ ZERO's benefits, including lower customers' energy costs, increase project revenues, and paving the way for fully renewable power generation; the future expansion of the energy storage sector; the growth in the demand for the Company's solutions; the cumulative thermal energy storage capacity of the Company's projects; the excepted operational energy consumption reduction of the Company's automated gigafactory manufacturing line for bGen™ ZERO; the Company's long-term commitment to sustainable industrial transformation. 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: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. 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 Annual Report on Form 20-F for the year ended December 31, 2023 filed with the SEC on March 18, 2024, which is 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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