The leading developer in thermal energy storage (“TES”) globally, Brenmiller, announced significant expansion in its project pipeline, marking a record level for the Company. As of May 1, 2024, Brenmiller boasts a project pipeline comprising 49 potential contracts at various stages of development for its bGen™ ZERO TES systems, valued at over $500 million. These projects represent more than 6,000 MWh of zero-emission heat. Spanning 12 industries, Brenmiller is advancing potential projects across 13 countries, including the U.S., Spain, Hungary, Israel, and India.
Of the pipeline projects, approximately two-thirds involve equipment sales, while the remaining third will be delivered through an Energy-as-a-Service model. Virtually all of Brenmiller’s pipeline projects involve converting renewable electricity into process heat.
Brenmiller’s bGen™ TES technology eliminates the need for fossil fuel boilers at industrial and power plants, addressing nearly one-quarter of all global emissions. It harnesses crushed rocks to store low-cost electricity from renewable or other sustainable sources and dispenses steam, hot water, or hot air as per customers’ requirements. Modular and highly configurable, Brenmiller’s TES technology offers heavy-emitting and mission-critical customers scalable access to zero-emission heat while ensuring 24/7 operational reliability.
Avi Brenmiller, Chairman and CEO of Brenmiller, commented, “The nearly fifty active project proposals, offers, and negotiations our team is engaged in with some of the largest and most innovative industrials and energy companies is not only great for business but also for the planet. It reflects both our customers’ confidence in our ability to deliver and shifting attitudes toward decarbonization market-wide. Several of these projects are in advanced stages of negotiations, and we anticipate that two to four of them may advance into binding, revenue-generating contracts in the coming quarters.”
