BrenX Advances Construction of 12 MWh bGen(TM) Thermal Energy Storage System at Wolfson Medical Center

The Wolfson system and its rights were acquired by Baran Energy, with agreed future profits also payable to BrenX.

Rhea-AI Summary

BrenX (NASDAQ: BRNX) has advanced construction of its 12 MWh thermal energy storage system at Wolfson Medical Center after receiving a building permit. The project in Holon, Israel, is designed to replace the hospital's fuel-oil boilers with steam and hot water supplied using stored electricity. Storage modules have already been manufactured at BrenX's Dimona facility.

Baran Energy acquired the system and its rights for approximately NIS 7 million (approximately US$2.3 million), plus agreed future profits. BrenX expects construction to finish within approximately 12 months, followed by commissioning and commercial operations. Its separate 32 MWh system at Tempo Beverages has been assembled and integrated and is producing steam during commissioning.

5 points · 1 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointBaran Energy acquired the system and rights for approximately NIS 7 million (approximately US$2.3 million), plus agreed future profits. 75% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.BrenX expects construction completion within approximately 12 months, followed by commissioning and commercial operations.
• Moderate pointTempo's 32 MWh system is assembled, integrated and producing steam during commissioning.
• Minor pointWolfson's 12 MWh project advanced to its next construction phase after receipt of the building permit.
• Minor pointWolfson storage modules are already manufactured, leaving installation and integration work on site.

Negative

• None.

News Explained

The release also sets out the hospital-side terms: Wolfson will pay about NIS 11.9 million (US$3.7 million) across the seven-year service period, with an option to acquire the system for NIS 1 million (US$0.3 million) when the term ends.

Key Figures

System capacity: 12 MWh Expected construction timeframe: 12 months System acquisition price: NIS 7 million (US$2.3 million) +4 more

System capacity

12 MWh

Wolfson Medical Center thermal energy storage system

Expected construction timeframe

12 months

Expected completion, followed by commissioning and commercial operations

System acquisition price

NIS 7 million (US$2.3 million)

Baran Energy acquisition, plus future profits as agreed

Service-period payments

NIS 11.9 million (US$3.7 million)

Wolfson payments over the seven-year service period

End-of-term purchase option

NIS 1 million (US$0.3 million)

Option to acquire the system at the end of the service term

Annual emissions reduction

3,900 tons of CO₂ equivalent per year

Expected once the system is operational

Annual energy cost savings

$1.5 million per year

Expected once the system is operational

Historical Context

1 past event · Latest: Sep 09

1 event

1. Sep 09

   Wolfson construction progress

   24h Move

   +15.2%

   Reported on-site work on the 12 MWh Wolfson project after receiving a construction permit.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

thermal energy storage, process heat

2 terms

thermal energy storage technical

"a provider of thermal energy storage ("TES") and integrated industrial energy solutions"

Thermal energy storage is a technology that captures heat or cold so it can be used later, like a rechargeable battery that holds temperature instead of electricity. It matters to investors because it can lower energy costs, improve reliability for buildings and power plants, enable more use of renewable power, and create new revenue streams or cost savings for projects and companies involved in energy infrastructure.

process heat technical

"delivery as process heat and steam on demand"

Thermal energy generated and delivered specifically for industrial processes—such as heating, drying, melting, sterilizing, or driving chemical reactions—rather than for space heating or electricity generation. Think of it as the giant oven, boiler, or kettle inside a factory that provides the exact temperatures needed to make products. It matters to investors because it represents a large, predictable operating cost and a focal point for fuel choices, efficiency upgrades and low‑carbon technologies that can affect a company’s margins and regulatory exposure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Storage modules manufactured in advance at the Company's facility in Dimona, Israel; construction expected to be completed within approximately 12 months

Current Fuel Based Energy Center at Wolfson Medical

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Rosh HaAyin, Israel--(Newsfile Corp. - October 5, 2026) - BrenX Ltd. (NASDAQ: BRNX) (the "Company" or "BrenX"), a provider of thermal energy storage ("TES") and integrated industrial energy solutions, today announced that it has advanced to the next phase of construction on its 12 MWh bGen™ TES system at Wolfson Medical Center ("Wolfson") in Holon, Israel, following receipt of the building permit for the project.

The bGen™ system is designed to replace the hospital's fuel-oil boilers and provide steam and hot water for hospital operations. It charges from the electric grid during off-peak hours and stores that energy for delivery as process heat and steam on demand, 24 hours a day.

The bCube™ storage modules for the system at Wolfson were manufactured in advance at BrenX's facility in Dimona, Israel, allowing the work on site to focus on installation and integration. BrenX currently expects construction to be completed within approximately 12 months, followed by commissioning and commencement of commercial operations.

Baran Energy, a subsidiary of Baran Group Ltd., acquired the system, including the rights thereto, from BrenX for approximately NIS 7 million (approximately US $2.3 million), plus future profits as agreed between the parties. Under the arrangements for the project, Wolfson will pay approximately NIS 11.9 million (approximately US$3.7 million) over the seven-year service period, with an option to acquire the TES system at the end of the term for NIS 1 million (approximately US$0.3 million).Once operational, the system is expected to reduce the hospital's carbon emissions by approximately 3,900 tons of CO₂ equivalent per year and generate annual energy cost savings of approximately $1.5 million.

"Starting this phase of construction at Wolfson is an important step for BrenX and for the hospital," said Nir Brenmiller, Chief Executive Officer of BrenX. "Because the storage modules were manufactured ahead of time at our Dimona facility, our team can now concentrate on installing and integrating the system on site. We look forward to supplying the hospital with steam generated using energy charged from the grid during off-peak hours and showing what bGen™ can do for hospitals and other large users of heat."

The Wolfson project follows the Company's 32 MWh bGen™ system at Tempo Beverages Ltd. ("Tempo") in Israel, which has been assembled and integrated with the customer's production facility and is currently producing steam as part of the commissioning process.

About BrenX Ltd.

BrenX provides thermal energy storage and integrated industrial energy solutions. Building on its proprietary bGen™ thermal energy storage technology, the Company is expanding its strategy to develop, own, operate and optimize energy assets that may combine local generation, electrical and thermal storage, grid connectivity, and intelligent energy management around customer needs. BrenX is headquartered in Rosh HaAyin, Israel. For more information, visit www.bren-x.com.

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 construction, completion, commissioning and commercial operation of the Wolfson project and the expected timing thereof; the expected operation, performance and benefits of the Wolfson project; the expected emissions reductions and energy cost savings of the Wolfson project; and the intended capabilities, uses and benefits of the bGen™ system. Without limiting the generality of the foregoing, words such as "plan," "potential," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate," "seek," "target" or "continue" are intended to identify forward-looking statements.

Readers are cautioned that actual results may differ materially from those expressed or implied by forward-looking statements. Factors that may affect the Company's results include, among others, the Company's ability to complete, commission and operate its projects as planned; construction, integration, performance and customer acceptance risks; the Company's liquidity, capital requirements and ability to obtain additional financing; the effect of financing transactions and anti-dilution provisions on the Company's capital structure; the Company's ability to integrate and realize the anticipated benefits of acquired assets; demand for and market acceptance of the Company's products; competitive, technological, supply-chain, regulatory and commercial risks; and political, economic and military instability in Israel and the Middle East. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the "SEC") on March 25, 2026, and in the Company's subsequent SEC filings. The Company undertakes no obligation to update any forward-looking statement, except as required by law.

Contact:
Crescendo Communications, LLC
212-671-1020
BRNX@crescendo-ir.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317308

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Baran Energy pay for BrenX's Wolfson storage system?

Baran Energy acquired the system, including its rights, for approximately NIS 7 million (approximately US$2.3 million), plus future profits as agreed between the parties.

When does BrenX expect construction of the Wolfson system to finish?

BrenX expects construction to be completed within approximately 12 months. Commissioning and commencement of commercial operations are to follow construction completion.

What are Wolfson Medical Center's payment and purchase terms for the BrenX system?

Wolfson will pay approximately NIS 11.9 million (approximately US$3.7 million) over the seven-year service period. The hospital has an option to acquire the system at the end of that term for NIS 1 million (approximately US$0.3 million).

What savings and emissions reductions are expected from BrenX's Wolfson system?

Once operational, the system is expected to generate annual energy cost savings of approximately $1.5 million and reduce the hospital's carbon emissions by approximately 3,900 tons of CO2 equivalent per year.