The Albany Gazette - Brenmiller Energy CEO Provides Update On Milestones Powering Progress

Dear Brenmiller Energy Investors,

I want to take a moment to share meaningful updates from across our Company-developments that reflect both execution in the present and strategic positioning for the future.

Most notably, that the European Hydrogen Bank has granted SolWinHy Cádiz S.L. (the "SolWinHy Project") in Arcos de la Frontera, Spain, €25 million in funding. SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group ("Green Enesys") and Viridi RE ("Viridi") to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller's joint venture partners in Brenmiller Europe S.L. ("Brenmiller Europe"). We estimate our supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million. We believe that our involvement with the SolWinHy Project reinforces the strength of our bGen™ technology and our role in enabling renewable fuel production at scale. It's a major milestone and a testament to the commercial scale of our thermal energy storage solutions.

Looking ahead, we're also preparing to accrue the next milestone in our project with Tempo Beverages Ltd. ("Tempo") in July 2025. This project represents a powerful application of our bGen™ system, delivering behind-the-meter energy savings in a commercial manufacturing environment. We believe the market will recognize the value of this milestone-not just for what it proves technically, but for what it unlocks strategically.

Beyond this, we're seeing a new opportunity emerge that could define the next phase of our growth: nuclear energy as the solution for AI and data centers that are expected to create a surge in energy demand.

At the end of May, CNBC reported that some countries in Europe are beginning to re-embrace nuclear power as a means of boosting energy independence and decarbonizing at scale. Denmark is even rethinking its 40-year nuclear ban. This shift creates a unique opening for our technology. Nuclear reactors, while reliable for baseload generation, lack the flexibility to meet dynamic grid demands-precisely the gap our thermal storage was designed to fill. The U.S. is following suit. New executive orders from the Trump Administration have fast-tracked small modular reactors (SMRs) and aim to significantly reform the U.S. nuclear industry.

That conviction was echoed again just days ago when Meta signed a 20-year agreement with Constellation Energy to purchase 1.1 gigawatts of nuclear power from the Clinton Clean Energy Center in Illinois. Without Meta's commitment, the plant faced premature closure. Now, not only will the site remain operational, it will expand.

This is more than a high-profile energy deal, we believe that it is an indication that nuclear power is being called upon to fuel the next generation of computing and AI infrastructure-but it can't do it alone. It needs flexibility. It needs storage. It needs solutions like ours.

We believe that our TES technology is uniquely suited to complement nuclear by enabling load-following capabilities, balancing output, and enhancing overall grid responsiveness. As the demand curve changes and data center operators push for 24/7 clean energy with real-time control, we believe our technology becomes not just valuable-but essential.

Further, we believe our system, as configured for ENEL at its combined cycle power plant in Santa Barbara, Italy, is already a near-perfect fit for this application, positioning Brenmiller to be part of this nuclear resurgence.

We also recognize the broader market environment remains volatile, especially for small-cap companies. We're taking action accordingly: tightening costs, streamlining operations across our subsidiaries, and staying focused on efficiency. These moves aren't just defensive-they're strategic steps to strengthen our core and prepare for scalable growth.

In parallel, we're actively exploring near-term opportunities to enhance value creation-this includes unlocking potential licensing revenues with our IP portfolio.

To those of you who've stayed with us: thank you. Your continued trust fuels our determination. We're executing with clarity and focus-and the momentum building behind clean hydrogen, flexible nuclear applications, and on-site industrial energy savings only adds to our conviction.

Sincerely,

Avi Brenmiller, CEO
Brenmiller Energy Ltd.

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.

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 when discussing: the Company's estimated amount for its supply of the bGen™ TES system for the SolWinHy project; that a new opportunity is emerging in nuclear energy, which could define the next phase of growth for the Company and that the Company's TES technology is uniquely suited to complement nuclear by enabling load-following capabilities, balancing output, and enhancing overall grid responsiveness; that the Company's TES system is positioned to be part of a nuclear resurgence; that the Company is preparing to reach the next milestone in the Tempo project in July, which will have both technical and strategic value; that the cost-cutting and operational streamlining efforts are strategic steps that will strengthen the Company's core and prepare for scalable growth; and that the Company is exploring near-term opportunities to enhance value creation, including potential licensing revenues of its IP portfolio. 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.

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SOURCE: Brenmiller Energy

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