COMPANY OVERVIEW
J U N E 2 0 2 4
Nasdaq: BNRG
Disclaimer
This presentation of Brenmiller Energy Ltd. (the "Company", "Brenmiller" or "Brenmiller Energy"), any oral presentation of the information contained in this presentation and any question-and-answer session that may follow contain "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 in this presentation when it discusses: the Company's belief that thermal energy
storage will play a major role in the energy transition; the Company's potential production capacity of $200M annually; the Company's commercial opportunities of ~6 GWh which is diversified across geographies and services; and the Company's commercial opportunities for 49 Projects representing ~ $500 Million in potential value in 12 industries across 13 countries . Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "target," "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 presentation. Factors that may affect the Company's results include, but are not limited to, the Company's planned level of revenues, capital expenditures and research, development and engineering expenses, the demand for and market acceptance of its products, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, the risks associated with the adequacy of existing cash resources, and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this presentation 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, 2023 filed with the Securities and Exchange Commission's on March 18, 2024, which is available on the SEC's website, www.sec.gov. The information in this presentation, any oral presentation of it and any question-and-answer session that may follow does not constitute or form part of and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase securities of the Company, and nothing contained herein or therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever.
No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information herein has not been independently verified and will not be updated. The information, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Information, including any financial data or forward-looking statements, and, except as required by law, will not publicly release any revisions it may make to the information that may result from any change in the Company's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this presentation. Market data used in the information contained herein not attributed to a specific source are estimates of the Company and have not been independently verified.
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Nasdaq: BNRG | 2 |
A B O U T
Brenmiller Energy Ltd.
Nasdaq listed: BNRG
We are a clean-tech company that develops, manufactures and sells our Thermal Energy Storage ("TES") solutions to decarbonize heat for industry and power plants
1Mainly from the issuance of ordinary shares, warrants, convertible securities, loans and governmental grants.
2012 $115M 51
Founded
Capital Investments 1since inception
Employees
As of June 2024
Nasdaq: BNRG | 3 |
From Rocks to Thermal Energy Storage
Rocks are crushed | Thin metal cells ("bCells") are |
to small bits | filled with the crushed rocks |
bCells are stacked into | Electrical heaters |
12 meter modules | are embedded |
Modules are assembled | Structure is insulated |
on-site to a structure | and connected to plant |
Nasdaq: BNRG | 4 |
Introducing bGenTMZero
Embedded electrical heaters
100°-500° Steam
Hot air
Decarbonizing heat throughtested thermal energy storage
Source : Company materials | Nasdaq: BNRG | 5 |
Brenmiller overview
6 | 73 MWh |
Global projects | Cumulative projects to date |
~$500m | 4 GWh |
Commercial opportunities | Manufacturing capacity (at full scale) |
550˚C | ~97% |
Steam capability | Round trip efficiency3 |
$115m+ | 3,100 TWh |
Capital invested to date | Serviceable available market 20301 |
Source : Company materials & website 1.SystemIQ - Global ETES Opportunity, 2. Levelized cost of heat range based on different service models. 75 MWh 2024 Belgian market illustrative case study with 5 MW steam demand, €10m CAPEX, €64/MWh steam price, €30/MWh electricity and grid cost, €225k annual other operating costs, 15 year lifetime, 8% discount rate. 3.Round trip efficiency = total energy output / total energy input
Nasdaq: BNRG | 6 |
Milestones
73 MWh to date
Founded
Full scale demonstration
0.5 MWh
Development | Commercialization |
Validated & ready to scale | 73 MWh |
Europe
JV MOU
12 MWh
Heat as a service
1 MWh
IDF pilot
Expansion to 4 GWh
32 MWh
Heat as a service agreement
agreement
Product development
Manufacturing plant
4 MWh Commercial pilot
India MoU | ||
24 MWh | ||
Power plant pilot | US MoU | |
US
Distribution
Agreement
2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
TECHNOLOGY R&D | PILOTS | ||||||||||
20232024
COMMERCIAL
2025+
Nasdaq: BNRG | 7 |
Key points
Industry is the largest emitter of GHG | "Everything is going electric"3 |
▪11 GT CO annually from industrial heat1 | ▪Renewable electricity now cheaper than fossil fuels |
2 | |
▪25% of total global GHG emissions from heat2 | ▪Power to heat efficiency ~97% |
Thermal Energy Storage ("TES") = flexibility for grid | Brenmiller is a leader in deployed TES | ||
▪ | TES charges when convenient for wind & solar | ▪ | 73 MWh in operation & construction |
▪ | Minimize curtailment & provide reliable heat | ▪ | Unique steam-to-steam ability for power plants |
Source: Company materials. Industry as defined by the International Energy Agency (IEA).
1Rhodium Group & IEA. 2International Energy Agency, Renewable energy for industry, 2017. 3IEA, Electrification across the industry sector October 2021.
Nasdaq: BNRG | 8 |
Renewable heat essential for net zero
Annual average global emissions forecasts1Selected sectors gigatonnes of CO2equivalent
Global energy consumption
26% | |||
Electricity | 45% | ||
Other, | Coal | ||
13% | |||
Residential, | Industry, 32% | 74% | |
Heat | |||
24% | |||
30% | |||
Natural Gas | |||
Transport, 31% | |||
15% | |||
Oil |
9% Renewables
, | ¼of global energy consumption2 |
Industrial heat accounts for |
Sources: 1Rhodium Group; 2International Energy Agency, Renewable energy for industry, 2017 | Nasdaq: BNRG | 9 |
Brenmiller Targeting 62 GWh3 | 94% | |
Obtainable Market by 2030 | 11,000 | |
5,000 | 4,500 | |
66 % | 73 % |
10,000
25,400 TWh1
2,000 2,000
2,000
TAM
3,100 TWh2
SAM
62 GWh3
SOM
Source: SystemIQ - Global ETES Opportunity, Market sizing boxes are illustrative, not to scale;1Based on total TWh heat demand in 2030; 2Based on first wave retrofit applications between 200- 400C according to SystemIQ;3Assumes 6,000 operating hours, 4:1 discharge capacity ratio, and 3% market share.
400 | 500 |
25 % | |
30 % | |
10 % | 65 % |
69 % | 11 % |
2 %
4 %
83 %
11 %
8 %
11 %
- %
- %
3 %
10 %
21 %
- %
-
%
2 %
- %
- %
1,000
Very Low 00C - 1000C
Low 1000C - 2000C Medium 2000C - 4000C
High >4000C
0
Aluminium | Textiles | Pulp, paper, | Food beverage, | Chemicals | Cement | Iron and steel |
tobacco |
Nasdaq: BNRG | 10 |
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Brenmiller Energy Ltd. published this content on 25 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 June 2024 21:52:44 UTC.