Brenmiller Energy Appoints Boaz Toshav to Serve as an Independent Director on the Board

Rhea-AI Summary

Brenmiller Energy (NASDAQ:BNRG) has appointed Boaz Toshav as an Independent Director to its Board, effective immediately. Toshav, who previously served on the Board from June 2023 to August 2024, brings over 20 years of experience in investment banking and M&A advisory services. He currently serves as President and Chairman of Rio Ave FC and CEO of Umbrella Advisors Ltd. Toshav replaces Nava Swersky Sofer, who completed her six-year term. The appointment comes amid significant company developments, including the SolWinHy Project in Spain receiving €25 million in funding from the European Hydrogen Bank, with Brenmiller's expected revenue from supplying the bGen™ TES system estimated at €7 million. The company continues to expand its presence in thermal energy storage solutions for industrial and utility customers across Europe, Israel, and the United States.

Positive

• Appointment of experienced financial executive Boaz Toshav with over 20 years in investment banking and M&A
• Company's involvement in SolWinHy Project with potential €7 million revenue from bGen™ TES system supply
• Strategic expansion across multiple markets including Europe, Israel, and United States
• Project secured €25 million funding from European Hydrogen Bank, validating technology potential

Negative

• None.

Experienced Global Investment Executive and Strategic Advisor to Support the Company's Next Phase of Growth

ROSH HA'AYIN, IL / ACCESS Newswire / June 20, 2025 / Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy", or the "Company") (Nasdaq:BNRG), a leading global provider of Thermal Energy Storage (TES) solutions for industrial and utility customers, today announced the appointment of Mr. Boaz Toshav as an Independent Director to its Board of Directors (the "Board"), effective immediately.

Mr. Toshav previously served on the Company's Board from June 2023 until August 2024. Mr. Toshav has over 20 years of experience in investment banking, fixed income and mergers and acquisitions advisory services. He is currently President and Chairman of Rio Ave FC (Primeira Liga), a professional Portuguese football (soccer) club, and he previously served as a senior financial advisor to UK-based Nottingham Forest FC and Greece-based Olympiacos FC. Mr. Toshav also currently serves as the Chief Executive Officer of Umbrella Advisors Ltd., a boutique investment bank and financial advisory firm he founded in 2014. Mr. Toshav has also been a board member of Intelicanna Ltd. (TASE: INTL) and Getruck Ltd. since 2018 and 2021, respectively. Mr. Toshav received a Bachelor of Arts degree in Economics and Business Administration from Tel Aviv University, as well as a Master of Philosophy from Tel Aviv University. Mr. Toshav qualified as a United Kingdom Financial Services Authority certified investment advisor in 2005.

"We are honored to welcome Boaz back to our Board," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. "His proven ability to navigate financial markets, advise boards, and drive strategic partnerships will be instrumental as we enter a pivotal moment in our Company's evolution. With multiple commercial projects underway and a growing global footprint, we believe that Boaz's appointment will strengthen our governance and position us to realize significant value creation for our shareholders."

Mr. Toshav succeeds Ms. Nava Swersky Sofer, who concluded her term on the Board following six years of dedicated service. Ms. Swersky Sofer's departure was in accordance with the natural expiration of her term and was not the result of any disagreement with the Company. The Board and management extend their sincere appreciation for her strategic insight and leadership during a period of meaningful growth and transformation at Brenmiller Energy.

This appointment follows Brenmiller's recent strategic milestones, including project deployments in Europe, Israel, and the United States. Notably, the European Hydrogen Bank has granted SolWinHy Cádiz S.L. (the "SolWinHy Project") in Arcos de la Frontera, Spain, €25 million in funding. SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group ("Green Enesys") and Viridi RE ("Viridi") to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller's joint venture partners in Brenmiller Europe S.L. ("Brenmiller Europe"). The Company estimates its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million. The Company believes that its involvement with the SolWinHy Project reinforces the strength of its bGen™ technology and the Company's role in enabling renewable fuel production at scale. Brenmiller continues to expand its role as a key enabler of flexible, clean industrial heat in support of global net-zero targets.

About Brenmiller Energy Ltd.

Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO 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 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 uses forward-looking statements when it discusses: the Company's belief that Mr. Toshav's appointment will strengthen the Company's governance and position to realize significant value creation for shareholders; that the Company s entering a pivotal moment in its evolution; future commercial projects underway and a growing global footprint; the Company's estimates for its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million; that the Company's involvement with the SolWinHy Project reinforces the strength of its bGen™ technology; the Company's role as a key enabler of flexible, clean industrial heat in support of global net-zero targets. 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, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, 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.

Contact: investors@bren-energy.com

SOURCE: Brenmiller Energy

View the original press release on ACCESS Newswire

FAQ

Who is the new Independent Director of Brenmiller Energy (BNRG)?

Boaz Toshav, who has over 20 years of experience in investment banking and M&A, was appointed as Independent Director of Brenmiller Energy, effective immediately.

What is the estimated value of Brenmiller Energy's involvement in the SolWinHy Project?

Brenmiller Energy estimates its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million.

Who did Boaz Toshav replace on Brenmiller Energy's Board?

Boaz Toshav succeeded Ms. Nava Swersky Sofer, who concluded her term after six years of service on the Board.

What recent funding did the SolWinHy Project receive?

The SolWinHy Project in Spain received €25 million in funding from the European Hydrogen Bank.

What is Brenmiller Energy's main business focus?

Brenmiller Energy is a global provider of Thermal Energy Storage (TES) solutions for industrial and utility customers.