Brenmiller Energy’s bGen™ Named Among TIME’s 2023 List of Best Inventions

By: Brenmiller Energy Ltd. via Business Wire

October 24, 2023 at 09:24 AM EDT

Highlighting 200 groundbreaking inventions that are addressing the world’s greatest challenges, Brenmiller’s thermal energy storage technology has been selected as one of TIME’s Best Inventions of 2023 in the Green Energy category

Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (“TES”) solutions for utility and industrial markets, today announced that its bGen™ technology has been named as one of TIME’s Best Inventions of 2023. The thermal energy storage system, which replaces fossil fuel boilers at industrial manufacturing facilities, was evaluated by TIME based on originality, efficacy, ambition, and impact.

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.

“It is a true honor to see Brenmiller’s bGen thermal energy storage system recognized by TIME,” said Avi Brenmiller, CEO and Chairman of Brenmiller Energy. “Our team has spent the better part of a decade developing and proving the efficacy and reliability of our technology, reaching a point of maturity at exactly the same time that demand for our solution, driven largely by global climate policies, has started to pick up.”

Brenmiller is at the forefront of industrial decarbonization. Together with Enel, Brenmiller inaugurated the world’s largest thermal energy storage system connected to an operational power plant. It also recently opened the world’s first thermal battery gigafactory, which is equipped to produce up to 4 GWh of bGen systems annually.

“This year’s list of 200 groundbreaking inventions (and 50 special mention inventions)—including the world's most powerful supercomputer, a game-changing entertainment venue, and a new shape— are changing how we live, work, play, and think about what’s possible,” according to TIME.

To view the full 2023 TIME Best Inventions list, visit: www.time.com/best-inventions-2023

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 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: Brenmiller’s thermal battery gigafactory is equipped to produce up to 4 GWh of bGen systems annually. 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.