European Investment Bank Names Brenmiller “Innovation Champion”

Rhea-AI Impact

(No impact)

Rhea-AI Sentiment

(Positive)

Tags

05/14/2024 - 08:30 AM

ROSH HA’AYIN, Israel--(BUSINESS WIRE)-- Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (“TES”) solutions, today announced that it was recognized as an Innovation Champion at the EIB AdVenture Debt Summit. The event brings together leaders across venture capital and finance, alongside European Commission representatives, to discuss market trends, investment needs and challenges for innovative companies. Brenmiller was named among other projects and companies across a variety of sectors that receive support from the European Investment Bank’s (“EIB”) Advisory Services or EIB funding.

“Capital from EIB has greatly expanded our production capacity and helped commercialize our pioneering thermal energy storage technology,” said Eli Lipman, VP of Innovation and Alternative Finance at Brenmiller Energy. “Debt financing from EIB goes beyond enabling scale – it is helping to create cleaner, more prosperous, and more secure communities across Europe. We are proud to be recognized as an Innovation Champion by EIB.”

In April 2021, the European Investment Bank loaned Brenmiller €7.5 million to help finance the construction of the world’s first large-scale TES manufacturing facility. Inaugurated in May 2023, in Dimona, Israel, Brenmiller’s gigafactory is equipped to produce up to 4GWh of bGen™ TES systems annually. Brenmiller’s bGen™ TES systems enable on-demand access to zero-emission heat for energy-intensive industries and power producers.

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 LinkedIn.