Brenmiller Signs MOU with RSP Systems to Boost bGen™ ZERO Sales in the U.S.
11 Janvier 2024 - 2:00PM
Business Wire
- New York-based RSP Systems, which provides customized
on-site energy solutions for customers, would distribute bGen™ in
the U.S. Northeast region
- Brenmiller’s U.S. commercial traction gains momentum
following its first bGen™ system installation handover in New York
and new proposed U.S. tax incentives for thermal energy
storage
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 non-binding
Memorandum of Understanding (MOU) with RSP Systems outlining the
terms of a distribution agreement. Subject to negotiating and
execution of definitive agreements, RSP Systems would be the
exclusive distributor of bGen™ in the U.S. Northeast Region. RSP
Systems has prior experience working with Brenmiller on its first
project in the U.S., combining Brenmiller’s TES with a Capstone
turbine to reduce GHG emissions and create monetary savings.
RSP Systems has been a leader in choosing and implementing
award-winning energy generation systems since 2004 and recently
began offering the bGen™ to augment customer solutions with
essential thermal energy storage.
Cory Glick, RSP Systems’ President commented, “We worked closely
with Brenmiller on the bGen™ installation at the State University
of New York (SUNY) Purchase campus. Our first-hand experience with
bGen™ has convinced us that this is the best thermal energy storage
system on the market, and we look forward to being the exclusive
distributor for the system in the Northeast U.S. All trends point
to rising demand for more sustainable energy solutions, and we
believe the recently proposed tax legislation in particular will
give TES a boost.”
“We look forward to concluding a definitive distribution
agreement with RSP Systems and making bGen™ more readily available
in the U.S. Our gigawatt bGen™ manufacturing facility in Israel is
ready for large-scale production to meet demand,” stated
Brenmiller’s Chairman and CEO, Avi Brenmiller. “We’ve had a very
productive working experience with the team at RSP Systems during
the New York installation and look forward to many, many more.”
bGen™, Brenmiller’s thermal battery, 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: the terms of a
distribution agreement based on the signed non-binding MOU with RSP
Systems, including the conclusion of a definitive distribution
agreement with RSP Systems; that RSP Systems would be the exclusive
distributor of bGen™ in Northeast U.S. making bGen™ more readily
available in the U.S.; trends point to rising demand for more
sustainable energy solutions; and that recent tax legislation will
give TES a boost. 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/20240111148027/en/
Media: Tori Bentkover
brenmillerenergy@antennagroup.com
Brenmiller Energy (NASDAQ:BNRG)
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