Brenmiller Energy CEO issues letter to shareholders

Brenmiller Energy issued a shareholder update from its Chairman and Chief Executive Officer, Avi Brenmiller. ” I am very happy to report that Brenmiller Energy has reached a point where our vision, for a world where renewable energy is plentiful and heat has no carbon footprint, is becoming a reality. As a result of our team’s focused commitment, industry-leading research and development activities, and collaborations across several countries, we have deployed and are developing a combined 73 MWh of our pioneering bGen TES systems worldwide… I am especially thrilled to share that we have crystalized a new and innovative Heat as a Service business model that, we believe, will help mature our vision for TES technology and accelerate access to zero-emission heat for industrial power users. Through this approach, we will also have the ability to design, build, deploy, own, and operate our bGen thermal batteries at customer sites…The Tempo bGen is one of our most significant projects at this time. Our project with Tempo is proof that the tides are changing. We are seeing more and more interest from some of the world’s largest corporations because our solutions are competitive with natural gas and less volatile than oil… Our gigafactory manufacturing capabilities, increased interest in our HaaS offering and global relationships will help us grow our footprint of installed TES systems worldwide. Toward this end, over the last two months, we have raised approximately $4.5M in gross proceeds of equity capital under our “at-the-market” offering facility, which together with our $4M gross proceeds from our capital raise earlier this year, we believe will support our corporate and project financing needs.