Brenmiller Energy Ltd Stock Price, News & Analysis

Brenmiller Energy (Nasdaq: BNRG) has raised $2 million through an At-The-Market (ATM) equity offering at $2.19 per share, further strengthening its balance sheet. The company plans to avoid using the ATM facility below $3.00 per share in the future. Brenmiller aims to fund its Heat-as-a-Service (HaaS) projects primarily through third-party project finance rather than equity funding, potentially accelerating its capacity to execute on a project pipeline worth up to $500 million.

Since the start of 2024, Brenmiller has raised approximately $10.8 million in gross proceeds. The company has also signed a definitive agreement for an additional $1.05 million private placement equity investment at a 52% premium to market. Brenmiller Energy focuses on delivering low-carbon heat through direct technology sales and its HaaS model, which allows for capturing recurring revenues through energy market program participation.

Brenmiller Energy (NASDAQ: BNRG), a provider of thermal energy storage solutions, reported its H1 2024 financial results and operational updates. Key highlights include:

1. A $1.05 million private placement agreement at a 52% premium to market price.

2. A project pipeline potentially worth up to $500 million.

3. Development of a Cold Thermal Energy Storage solution for AI data centers.

4. Multiple HaaS (Heat as a Service) projects, including a 30 MWh bGen™ ZERO system for a major European pet food manufacturer.

5. A $3.55 million agreement with Wolfson Hospital, supported by a $450,000 grant.

6. A $150 million sales milestone agreement for U.S. distribution.

7. Cash and cash equivalents of $6.99 million as of June 30, 2024.

8. Narrowed net loss by 70% to $1.58 million for H1 2024.

Brenmiller Energy (NASDAQ: BNRG) has entered a 12-year Heat as a Service (HaaS) agreement with Partner in Pet Food Hungaria KFT (PPF), a leading European pet food producer. Brenmiller will design, build, own, and operate a 30 MWh bGen™ ZERO system near PPF's plant in Dombovar, Hungary. This system will provide low-cost, low-carbon steam to PPF and offer grid balancing services to the local transmission system operator, MAVIR.

The project, expected to cost around $5 million, will significantly reduce PPF's energy costs and carbon footprint. PPF will purchase steam at a fixed rate. Brenmiller can leverage the bGen™ system to participate in MAVIR's grid balancing market, increasing project revenues. This arrangement will help PPF achieve its emissions reduction target of 42% by 2030.

Brenmiller Energy (Nasdaq: BNRG), a provider of thermal energy storage solutions, has received a Nasdaq notification regarding non-compliance with the minimum bid price requirement. The company's stock must maintain a minimum bid price of $1.00 per share to remain listed. Brenmiller has been granted a 180-day grace period until February 3, 2025, to regain compliance.

To comply, the stock's closing bid price must be at least $1.00 for a minimum of ten consecutive business days. If unsuccessful, Brenmiller may be eligible for an additional 180-day period if it meets other Nasdaq Capital Market listing requirements. Failure to comply could result in delisting. The company states that maintaining its Nasdaq listing is a priority and will consider options to regain compliance if necessary.

Brenmiller Energy (NASDAQ: BNRG), a provider of thermal energy storage solutions, has announced two new appointments to its Board of Directors. Zvi Joseph and Miki Korner will join the board effective August 14, 2024, filling vacancies created by the resignation of two current directors. This move comes in response to a Schedule 13D filing by Alpha Capital Anstalt.

Additionally, Brenmiller has entered into a securities purchase agreement with Alpha for approximately $1.05 million at $1.05 per share, a 52% premium to the closing price on August 2, 2024. Alpha may make a further investment for 1,000,000 additional shares if the stock closes at or above $2.50 within 12 months. The company also stated it does not plan to use its "at-the-market" facility to sell shares while trading below $2.00 per share.

Brenmiller Energy (Nasdaq: BNRG), a provider of thermal energy storage solutions, has announced a $1.05 million private placement with an existing institutional investor. The company will issue 1,000,000 ordinary shares at $1.05 per share, representing a 52% premium to the closing price on August 2, 2024. The investor has the right to make an additional investment for 1,000,000 shares if the stock price reaches $2.50 within 12 months. Proceeds will be used for general corporate purposes and working capital. The closing is subject to obtaining consent from an existing lender within 90 days. Brenmiller has agreed to file a registration statement with the SEC within 30 days of closing to register the resale of the shares.

Brenmiller Energy (Nasdaq: BNRG) has announced plans to expand its bGen™ thermal battery capabilities for AI data center cooling applications. The company aims to develop a Cold Thermal Energy Storage (CTES) solution called bGen™ Cool, responding to the rapidly growing power demand in data centers driven by AI computing.

Key points:

• Data center power demand is expected to increase by 160% by 2030, reaching 3-4% of global power consumption
• Brenmiller anticipates minimal investment to adapt its existing technology for data center applications
• The bGen™ Cool aims to provide cost-competitive and energy-efficient cooling solutions for data centers
• CTES systems can drive significant decarbonization and financial value for data center owners
• Brenmiller continues bGen™ production for power-to-heat applications, with potential sales valued at up to $500 million

Brenmiller Energy (NASDAQ: BNRG), a leading global thermal energy storage provider, is targeting a market worth an estimated $448 million in 2024. CEO Avi Brenmiller highlights the company's competitive position:

1. 49-project pipeline in 13 countries, with $500 million potential sales
2. 97% energy capture rate, 4-10% higher than competitors
3. Technology Readiness Level (TRL) of 8, indicating mature technology
4. Fully vertically integrated company
5. Flagship project with Heineken-backed Tempo Beverages
6. New Heat as a Service (HaaS) model launched
7. Partnerships expanding in Europe, US, India, and Canada

Brenmiller believes the current $2.4 million market cap undervalues the company's potential and expects organic growth based on proven performance and competitive advantages.

Brenmiller Energy CEO Avi Brenmiller issued a shareholder update highlighting the company's progress and strategic initiatives. Brenmiller Energy has developed and deployed 73 MWh of its bGen™ Thermal Energy Storage (TES) systems globally. The company announced a potential 49-project pipeline across 13 countries, valued at approximately $500 million. They introduced a new Heat as a Service (HaaS) business model, enabling Brenmiller to design, build, and operate TES systems at customer sites, fostering high-margin recurring revenue streams. Strategic partnerships in Europe, the US, India, and Canada aim to meet rising demand. Brenmiller's flagship project with Tempo Beverages in Israel is advancing, emphasizing the competitive edge of their TES solutions. The company raised $4.5M in gross proceeds from an equity offering, supporting corporate and project financing needs. The update reflects Brenmiller's commitment to delivering sustainable energy solutions and expanding their market presence.