Brenmiller Received Approval to Supply Israel's Wolfson Hospital with Breakthrough Sustainable Electric Heat
August 29 2023 - 8:40AM
Business Wire
- Brenmiller received final approval from the Israeli Ministry of
Finance to supply Wolfson Hospital with electric process heat,
replacing existing steam boilers powered by natural gas
- Brenmiller’s bGen™ ZERO has the potential to reduce energy
costs for Wolfson Hospital by up to US$1.3 million annually and
lower its local carbon footprint by 3,900 tons per year
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy”)
(Nasdaq: BNRG; TASE: BNRG), a global leader in thermal energy
storage (“TES”), today announced that it has received final
approval from the Israeli Ministry of Finance to supply electric
process heat to Wolfson Hospital, a public medical center located
near Tel Aviv in Holon, Israel. The Israeli Ministry of Finance
announced it has approved a budget of up to NIS 14 million
(approximately US$3.7 million) for Wolfson Hospital to procure TES
equipment from Brenmiller. The Israeli Ministry of Finance
estimates that the use of electric heat, provided via Brenmiller’s
bGen™ ZERO thermal energy storage 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. A final
agreement between Wolfson Hospital and Brenmiller is under
preparation (the “Agreement”) and is expected to be signed by the
end of Q4 2023.
Subject to negotiation and execution of the definitive
Agreement, Brenmiller will deliver its technology and supply heat
to Wolfson Hospital at zero up-front cost through an agreement for
a seven-year term.
“Brenmiller’s approval to move forward with an agreement with
Wolfson Hospital is a great example of how novel, clean energy
technologies have the potential to meet the demanding needs of
critical, large-scale facilities like hospitals,” said Brenmiller
Energy Chairman and CEO Avi Brenmiller. “We’re very pleased to
receive this final approval from the Israeli Ministry of Finance
and move forward towards an agreement between Wolfson Hospital and
Brenmiller in order to be able to deliver to Wolfson Hospital - its
doctors and nurses, staff and administrators, and patients - clean,
and reliable power.”
Brenmiller’s bGen™ ZERO will help alleviate high energy costs
for Wolfson Hospital and lower its local carbon footprint by
capturing electricity from the grid during hours of the day when
prices are low and storing it for use when demand peaks. The bGen™
ZERO utilizes crushed rocks to store energy in the form of heat and
dispatches low-cost steam, hot water or hot air on demand.
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 bGenTM thermal storage
technology enables the use of renewable energy resources, as well
as waste heat, to heat crushed rocks to very high temperatures.
This heat can be stored for minutes, hours, or even days before
being used for industrial and power generation processes. With
Brenmiller’s bGenTM, organizations have a way to use electricity to
generate the clean steam, hot water and hot air as required for
industrial processes, such as plastic molding, 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 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 and Israeli
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 Brenmiller will supply Israel's
Wolfson Hospital with sustainable electric heat that will replace
existing steam boilers powered by natural gas; that Brenmiller’s
bGen™ ZERO has the potential, according to the Israeli Ministry of
Finance estimations, to reduce energy costs for Wolfson Hospital by
approximately US$1.3 million annually and lower its local carbon
footprint by 3,900 tons per year; that a final agreement between
Wolfson Hospital and Brenmiller is expected to be signed by the end
of Q4 2023; that once the Agreement is signed, Brenmiller will
deliver its technology and supply heat to Wolfson Hospital at zero
up-front cost through an agreement for a seven-year term; that
novel, clean energy technologies have the potential to meet the
demanding needs of critical, large-scale facilities like hospitals;
and that Brenmiller’s bGen™ ZERO will help alleviate high energy
costs for Wolfson Hospital and lower its local carbon footprint by
capturing electricity from the grid during hours of the day when
prices are low and storing it for use when demand peaks. 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, 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 and trade, legal, social and
economic risks and the risks associated with the adequacy of
existing cash resources. 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/20230829667525/en/
Media Contact: Tori Bentkover
brenmillerenergy@antennagroup.com
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