Brenmiller Signs Definitive Agreement to Supply Wolfson Hospital with Clean Electric Heat in $3.55 Million Project

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.