Brenmiller Signs Definitive Agreement to Supply Wolfson Hospital with Clean Electric Heat in $3.55 Million Project
01 Febbraio 2024 - 12:00PM
Business Wire
- bGen™ ZERO to save Wolfson Hospital up to US$1.3 million
annually and reduce the hospital’s local carbon footprint by 3,900
tons per year
- Project benefits from up to $450,000 grant from Israel
Innovation Authority
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the
“Company”) (Nasdaq: BNRG), a global leader in thermal energy
storage (“TES”), today announced it has signed a definitive
agreement for a seven-year, $3.55 million project to supply
electric process heat to Wolfson Hospital, a public medical center
located near Tel Aviv in Holon, Israel.
The Israeli Ministry of Finance approved a budget of up to NIS
13 million (approximately US$3.55 million) for Wolfson Hospital to
procure a bGen™ ZERO system from Brenmiller, from which Brenmiller
will generate recurring revenues on an energy-as-a-service (EaaS)
model from the supply of electric process heat over the course of
the seven-year project. As previously announced by the Company, a
grant of up to $450,000 from the Israel Innovation Authority will
cover part of the budget.
bGen ZERO will replace Wolfson Hospital’s old diesel boilers
that are both costly and polluting. According to the Israeli
Ministry of Finance’s estimates, electric heat provided via
Brenmiller’s bGen™ ZERO TES system has the potential to save
Wolfson Hospital up to US$1.3 million annually and reduce the
hospital’s local carbon footprint by 3,900 tons per year.
"With our breakthrough bGen™ ZERO technology, we will provide
Wolfson Hospital with a cleaner source of electricity at a lower
price than its legacy systems. Our sustainable power infrastructure
will benefit all hospital stakeholders, from patients and doctors
to administrators, government, and local communities,” stated
Brenmiller’s Chairman and CEO, Avi Brenmiller. “This is just the
beginning of wide-scale TES adoption, which we believe will become
the standard in clean energy storage for industrial and municipal
facilities worldwide."
"The project is expected to drive reduction in our fuel oil
consumption to nearly zero,” said Gadi Davidovitz, Chief Engineer
at Wolfson Hospital. “It will significantly reduce emissions
generated by the hospital while saving on energy costs."
bGen™, Brenmiller’s TES system, converts electricity into heat
to power sustainable industrial processes at a price that is
competitive with natural gas. The bGen™ 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™ also supports
the development of utility-scale renewables by providing critical
flexibility and grid-balancing capabilities. bGen™ was named among
TIME’s Best Inventions of 2023 in the Green Energy category.
About Brenmiller Energy Ltd.
Brenmiller Energy delivers scalable thermal energy storage
solutions and services that allow customers to cost-effectively
decarbonize their operations. Its patented bGen™ thermal storage
technology enables the use of renewable energy resources, as well
as waste heat, to heat crushed rocks to very high temperatures.
They can then store this heat for minutes, hours, or even days
before using it for industrial and power generation processes. With
bGen™, organizations have a way to use electricity, biomass and
waste heat to generate the clean steam, hot water and hot air they
need to mold plastic, process food and beverages, produce paper,
manufacture chemicals and pharmaceuticals or drive steam turbines
without burning fossil fuels. For more information visit the
company’s website at https://bren-energy.com/ and follow the
company on X (formerly Twitter) 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 in this press release when it discusses:
that the bGen™ ZERO at Wolfson Hospital will generate recurring
revenues for Brenmiller over the course of the seven-year project;
that the bGen™ ZERO has the potential to save Wolfson Hospital up
to US$1.3 million annually and reduce its carbon footprint by 3,900
tons per year; that the Company’s sustainable power infrastructure
will benefit all hospital stakeholders, from patients and doctors
to administrators, government, and local communities; the Company’s
belief that TES will become the standard in clean energy storage
for industrial and municipal facilities worldwide; and that the
project is expected to drive reduction in Wolfson Hospital’s fuel
oil consumption to nearly zero. 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, 2022 filed with the SEC
on March 21, 2023, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240201058858/en/
Media: Tori Bentkover
brenmillerenergy@antennagroup.com
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