Brenmiller Signs MoU with ENASCO to Pioneer Nuclear SMR-Integrated Thermal Energy Storage Solutions: Targeting $50 Million in Projects by 2030

Rhea-AI Summary

Brenmiller Energy (NASDAQ:BNRG) has signed a non-binding MoU with ENASCO Ltd. to develop and commercialize integrated solutions combining Brenmiller's bGen™ Thermal Energy Storage (TES) system with Small Modular Reactor (SMR) technology.

The partnership outlines an ambitious commercial roadmap targeting $50 million in projects by 2030 and aims to develop 15-20 projects valued at up to $650 million by 2035. The initial joint bGen TES project is expected to launch in 2027, with pilot integrations planned for AI data centers.

The collaboration leverages bGen™'s unique capabilities to enhance SMR deployment through improved passive safety, streamlined design, grid flexibility, and scalability. According to the IEA, SMR capacity could reach 120 GW by 2050, requiring over $670 billion in global investment.

Positive

• Strategic entry into the growing nuclear SMR market with potential $670B investment opportunity by 2050
• Pipeline development targeting $650M worth of projects by 2035
• Near-term opportunity in AI data center market, projected to represent 12% of US power demand by 2030
• Technology offers multiple advantages including enhanced safety, reduced CapEx, and improved grid flexibility

Negative

• MoU is non-binding, indicating early-stage uncertainty
• First project not expected until 2027, suggesting long development timeline
• Significant capital investment likely required to develop and scale projects

Insights

Nuclear Energy & Cleantech Investment Analyst

Brenmiller's nuclear SMR partnership opens potentially lucrative revenue streams but faces significant execution risks with distant commercialization timeline.

Brenmiller Energy's MoU with ENASCO represents a strategic pivot into the high-growth nuclear SMR market, but investors should understand this is a long-term value proposition with first revenues not projected until 2027. The commercial roadmap targets $50 million in projects by 2030 and an ambitious $650 million pipeline by 2035, which would be transformative for a company of Brenmiller's size if realized.

The partnership aims to leverage the natural synergies between Brenmiller's bGen™ thermal energy storage technology and liquid metal SMRs, which operate at temperatures of 500-550°C. This technical compatibility could create a differentiated offering in three key ways: enhancing SMR safety as a passive heat sink, improving capital efficiency by eliminating redundant components, and enabling greater grid flexibility and revenue optimization.

Strategically targeting the AI data center market is shrewd - according to the cited McKinsey research, AI data centers will comprise almost 12% of U.S. power demand by 2030. This represents an ideal customer segment willing to pay premium prices for reliable, dispatchable clean power.

The broader market potential is substantial, with the IEA projecting SMR capacity reaching 120 GW by 2050, requiring over $670 billion in investment. However, investors should note that this MoU is non-binding, commercial deployment remains years away, and Brenmiller will face competition from other thermal storage technologies and battery solutions. The execution of this long-term strategy across regulatory, technical, and commercial dimensions will determine whether these ambitious revenue projections materialize.

Commercial roadmap includes: first joint bGen TES projected expected to launch in 2027, three projects worth $50 million by 2030, and develop a pipeline of 15-20 projects with a potential value of $650 million by 2035

Pilot integrations planned to power AI data centers

SMR capacity could reach up to 120 GW by 2050, requiring more than $670 billion in global investment according to theInternational Energy Agency (IEA)

ROSH HA'AYIN, IL / ACCESS Newswire / July 16, 2025 / Brenmiller Energy Ltd. (Nasdaq:BNRG), (the "Company", "Brenmiller" or "Brenmiller Energy") a leading global provider of Thermal Energy Storage ("TES") solutions for industrial and utility customers, announced today it has signed of a non-binding Memorandum of Understanding ("MoU") with ENASCO Ltd. ("ENASCO"), a specialist in nuclear Small Modular Reactor ("SMR") project development. The collaboration marks another step towards Brenmiller's expansion into the nuclear energy sector and aligns with the Company's recent announcement that it is developing a new version of its TES to be tailored for SMR and high-resilience industrial applications.

Under the MoU, Brenmiller and ENASCO will collaborate to study, develop and commercialize integrated solutions combining Brenmiller's proprietary bGen™ TES system with advanced Liquid Metal Reactor ("LMR")-based SMRs. The initiative targets enhanced energy efficiency, operational safety, and system flexibility across electric, thermal, and hydrogen applications.

"In cooperation together with ENASCO, we plan to leverage our complementary capabilities to explore creating a scalable, high-efficiency hybrid platform that answers the energy market's need for clean and dispatchable baseload power," said Doron Brenmiller, Chief Business Officer of Brenmiller Energy. "In the near term, we plan to target the AI data center market which, according to a McKinsey & Co. report, will account for almost 12% of total power demand in the U.S. by 2030."

Commercial Roadmap and Market Potential

According to the International Energy Agency (IEA), SMR capacity could reach up to 120 GW by 2050, requiring more than $670 billion in global investment. The MoU outlines a phased roadmap, including:

• 2026: Form strategic alliances with SMR vendors and pilot integration with AI data centers

• 2027: Launch first joint hybrid SMR+TES project

• 2030: Deploy three commercial-scale projects with a combined target value of $50 million

• By 2035: Build a pipeline of 15-20 hybrid projects across Europe and the Americas, with a potential value of up to $650 million

Strategic Rationale: Enabling the Future of Nuclear-Thermal Hybrid Systems

The bGen™ TES system is uniquely positioned to address core challenges in SMR deployment. When coupled with LMRs-known for their high operating temperatures (~500-550°C) and low-pressure designs-bGen™ offers:

• Enhanced Passive Safety: Acts as a passive heat sink during emergency shutdowns or grid outages, improving SMR safety

• Streamlined Design: Eliminates the need for separate steam generators or redundant heat exchangers, reducing CapEx

• Grid Flexibility: Supports load following, time-shifting, and ancillary market participation

• Scalability: Supports a wide range of project sizes, from 10 MWh pilots to multi-GWh utility-scale systems

About ENASCO Ltd.

ENASCO Ltd. provides advanced engineering, feasibility analysis, and strategic consulting for SMR deployments across Europe. With an established track record in nuclear energy design, grant writing, consortium management, and policy advisory, ENASCO is a recognized contributor to the evolution of modular nuclear infrastructure.

About bGen™

bGen™ ZERO is Brenmiller's TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen™ ZERO 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™ ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen™ ZERO was named among TIME's Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards.

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 is using forward-looking statements when discussing: the terms of the MoU with ENASCO Ltd. and potential projects and pipeline as a result of the MoU; that the Company together with ENASCO plans to leverage complementary capabilities to explore creating a scalable, high-efficiency hybrid platform that answers the energy market's need for clean and dispatchable baseload power; that the Company plans to target the AI data center market which will account for almost 12% of total power demand in the U.S. by 2030; that SMR capacity could reach up to 120 GW by 2050 and require more than $670 billion in global investment; that the bGen TES system is uniquely positioned to address core challenges in SMR deployment; and the benefits of bGen when coupled with LMRs . The Company and ENASCO Ltd. may not ultimately reach agreement on definitive agreements and the transactions and projects contemplated by the MoU may not occur. 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

What is the value of Brenmiller Energy's (BNRG) SMR project pipeline by 2035?

Brenmiller Energy aims to develop 15-20 hybrid projects across Europe and the Americas with a potential value of up to $650 million by 2035.

When will Brenmiller Energy (BNRG) launch its first SMR-integrated TES project?

The company plans to launch its first joint hybrid SMR+TES project in 2027, following strategic alliances with SMR vendors and pilot integrations in 2026.

How much is the global SMR market expected to grow according to IEA?

According to the International Energy Agency, SMR capacity could reach up to 120 GW by 2050, requiring more than $670 billion in global investment.

What are the main benefits of Brenmiller's bGen™ TES system for SMR applications?

The bGen™ TES system offers enhanced passive safety, streamlined design with reduced CapEx, improved grid flexibility, and scalability from 10 MWh pilots to multi-GWh utility-scale systems.

What is the target market value for Brenmiller's SMR projects by 2030?

Brenmiller aims to deploy three commercial-scale projects with a combined target value of $50 million by 2030.