Brenmiller to receive milestone-based payments for the sale of the bGen systems, profit sharing from future income generated on the projects, and maintenance and operations service revenue
Transaction provides non-dilutive capital injection as part of capital-efficient growth strategy, powering Brenmiller to advance its broader global project pipeline of commercial opportunities valued at over $500 million
Milestone marks a significant evolution in the relationship between Brenmiller and Baran following the signing of a strategic collaboration agreement in February 2025
ROSH HA'AYIN AND BEIT DAGAN, ISRAEL / ACCESS Newswire / September 29, 2025 / Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy", or the "Company") (Nasdaq:BNRG), a leading global provider of Thermal Energy Storage ("TES") solutions for industrial and utility customers, and Baran Energy Ltd., the energy subsidiary of the Baran Group Ltd. ("Baran"), an international engineering company that provides management, design and construction solutions for large-scale infrastructure projects, today announced that the companies have signed a System Purchase Agreement (the "Agreement") for the completion and operational launch of two bGen ZERO TES systems currently in development in Brenmiller's portfolio.
Brenmiller to Receive Milestone-Based Payments and Profit Sharing
Baran will become the owner of the bGen TES projects at Tempo Beverages Ltd. ("Tempo") and Wolfson Medical Center, representing a total of 44 MWh, and will pay Brenmiller for the acquisition based on project execution milestones achieved during the construction and commissioning phases. Brenmiller will also receive profit sharing on the projects based on revenues from end customers. Brenmiller retains all intellectual property and will continue to provide, and be paid for, operations and maintenance on the bGen ZERO systems.
Strong Long-Term Collaboration
Baran Energy Ltd. is a subsidiary of Baran, Israel's leading engineering and project execution firm. Baran's deep expertise in infrastructure development, which includes hundreds of infrastructure projects deployed globally over 40 years, makes them an ideal partner to assist in developing Brenmiller's current and future TES projects. Baran Energy has a right of first refusal to acquire future bGen projects in Israel, providing Brenmiller the option to leverage Baran's extensive project execution experience in the industrial sector as well as their financing capabilities.
Management Commentaries
"With this agreement and collaboration, we are positioned to significantly accelerate not only the Tempo and Wolfson Medical Center projects, we believe this will also have a positive impact on our entire pipeline of global commercial opportunities and our competitiveness to advance more projects into our portfolio," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. "Importantly, while Baran will hold ownership of these two TES projects, Brenmiller remains fully committed and directly involved in the performance and long-term success of these projects which will produce ongoing revenues for our Company."
"This collaboration represents the best of both worlds-Brenmiller's innovation and Baran's experience in a diversity of energy projects worldwide," said Hezy Haim, Chief Executive Officer of Baran Energy. "Together, we're building the foundation for a cleaner, more efficient energy future in Israel and beyond."
About bGen
bGen ZERO is Brenmiller's TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen ZERO 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 ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen ZERO was named among TIME's Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at https://bren-energy.com/ and follow the company on X and LinkedIn.
About Baran Group
The Baran Group is an international engineering company that provides engineering solutions for the management and design of building, industrial, and technological infrastructures, operating in Israel and abroad. The core activities of the Baran Group include the management, planning, and execution of complex projects in the fields of infrastructure, construction, and integrated industrial systems, energy, agriculture, and water, both in Israel and internationally. The Baran Group offers fully integrated project services, starting from feasibility studies, conceptual preliminary planning, detailed design, procurement services, project management, and supervision of execution, organizing financing packages and full project implementation. The Baran Group employs more than one thousand people, including employees in its foreign subsidiaries. Baran Energy is an energy projects developer focusing on renewable energy, including PV and BESS projects. Baran Energy operates in Israel, the USA, and Europe.
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 uses forward-looking statements when it discusses: the collaboration between the Company and Baran as providing a non-dilutive capital injection as part of a capital-efficient growth strategy , allowing the Company to advance its broader global project pipeline of commercial opportunities valued at over $500 million; future milestone-based payments will be made by Baran to the Company during construction and commissioning; that Baran's expertise makes them an ideal collaborator and financial partner to assist in developing the Company's current and future TES projects; the Company's belief that the Agreement will have a positive impact on its entire pipeline of global opportunities and its competitive ability to advance more projects into its portfolio and that these projects will produce ongoing, recurring revenues for the Company. 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, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, 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.
Contact: investors@bren-energy.com
SOURCE: Brenmiller Energy
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/utilities/brenmiller-signs-system-purchase-agreement-with-baran-energy-for-bgen-zero-systems-at-tem-1079457
