- Marks Brenmiller’s entrance into the Indian market, the world’s
5th largest economy
- Solar-powered bGen™ thermal energy storage systems will help
India transition to a 50% renewable energy supply by 2030
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the
“Company”) (Nasdaq: BNRG, TASE: BNRG), a clean energy company that
provides Thermal Energy Storage (“TES”) systems to global
industrial and utility markets, today announced that it has signed
a Memorandum of Understanding (“MoU”) with Waaree Energies Ltd.
(“Waaree”), India’s largest manufacturer of solar panels, to
implement bGen™ TES in India. This announcement marks Brenmiller’s
entrance into the Indian market, adding to the Company’s growing
global presence including Israel, Europe, and the U.S.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230726530723/en/
Left to Right: Tal Tutnauer, Business
Development Director & Doron Brenmiller, Chief Business Officer
from Brenmiller Energy; Dinesh Kumar Gupta, Abhishek Shah &
Rajesh Sharma, Chief Growth Officer from Waaree (Photo: Business
Wire)
Under the terms of the MoU, Brenmiller and Waaree will jointly
explore, develop, and deploy solar-powered TES systems in India,
subject to entry into a definitive agreement.
Brenmiller’s award-winning bGen TES system is a mature,
scalable, and cost-effective solution that enables 24/7 renewable
management for industrial processes and power production. The bGen
can store energy in the form of heat for minutes, hours, or days,
and produce steam, hot water, or hot air on demand. In addition to
decarbonization, Brenmiller’s TES technology provides critical
reliability and protection from renewable intermittency and
fluctuations in energy market prices.
“We’ve seen a massive uptick in demand for our TES systems in
response to climate-forward policies, rising energy costs, and
challenges to reliability,” said Avi Brenmiller, president and
Chief Executive Officer of Brenmiller. “Our team is thrilled to
collaborate with Waaree to bring bGen TES to India’s industrial and
utility markets.”
"In India, steam and other high-temperature processes for
industrials are primarily powered by coal, accounting for roughly
25 percent of India's carbon emissions," said Hitech Doshi,
chairman of Waaree. "We are focused on helping large industrial
corporations, including beverage, pharmaceutical, chemical, paper
manufacturers, and more, to help them meet ambitious ESG goals.
Partnering with Brenmiller to deploy its innovative thermal energy
storage technology will enable us to significantly reduce
dependence on fossil fuels."
About Waaree Energies Ltd.
Waaree Energies Ltd. is the flagship company of Waaree Group,
founded in 1989 with headquarters in Mumbai, India. Waaree Energy
is today one of the largest vertically integrated new energy
companies. It has India's largest Solar panel manufacturing
capacity of 12GW at its plants in Chikhli, Surat and Umbergaon in
Gujarat and is a top player in EPC Services, Project Development,
Solar Rooftop Solutions, Solar Inverters, and Solar Water Pumps. It
is also an Independent Power Producer. Waaree has a presence in
over 388 locations nationally and 20 countries internationally. The
company has supplied 6+GW of solar modules and commissioned 1+ GW
of solar EPC projects.
About Brenmiller Energy Ltd.
Brenmiller Energy delivers scalable thermal energy storage
solutions and services that allow customers to cost-effectively
decarbonize their operations. Its patented bGen thermal storage
technology enables the use of renewable energy resources, as well
as waste heat, to heat crushed rocks to very high temperatures.
They can then store this heat for minutes, hours, or even days
before using it for industrial and power generation processes. With
bGen, organizations have a way to use electricity, biomass and
waste heat to generate the clean steam, hot water and hot air they
need to mold plastic, process food and beverages, produce paper,
manufacture chemicals and pharmaceuticals or drive steam turbines
without burning fossil fuels. For more information visit the
company’s website at https://bren-energy.com/ and follow the
company on 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. 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. For example, we are using
forward-looking statements when we are discussing the entry into a
definitive agreement, the implementation of bGen™ TES in India, and
the potential of such implementation to help India transition to a
have half of its energy supply from renewables by 2030. 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, 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 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 Annual Report on Form 20-F for the year ended December
31, 2022 filed with the U.S. Securities and Exchange Commission
(“SEC”) on March 22, 2023 and the Company’s other filings with the
SEC, which 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230726530723/en/
Media: Tori Bentkover
brenmillerenergy@antennagroup.com
Brenmiller Energy (NASDAQ:BNRG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Brenmiller Energy (NASDAQ:BNRG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024