141 Aufrufe 141 0 Kommentare 0 Kommentare

    Brenmiller Energy Further Fortifies Balance Sheet with $2 Million Raised from At-The-Market Equity Offering at $2.19 per Share

    Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (“TES”) solutions for industrial and utility customers, today issued an update on its balance sheet and recent commercial developments.

    On August 30, 2024, Brenmiller raised approximately $2.0 million in gross proceeds through its existing At-the-Market (“ATM”) equity offering facility with the sale of 914,000 ordinary shares at an average price per share of approximately $2.19. As a result, the Company now has 7,094,791 ordinary shares issued and outstanding. Since the beginning of 2024, the Company has raised approximately $10.8 million in gross proceeds. The Company also signed a definitive agreement for the sale of an additional 1,000,000 ordinary shares through a $1.05 million private placement equity investment priced at a 52% premium to market on August 2, 2024 from an existing institutional shareholder, the completion of which is subject to certain closing conditions.

    "We are currently working hard to increase the Company's commercial opportunity pipeline with emphasis on HaaS projects, to convert these opportunities into commercial projects, and to improve our financial position by establishing effective financing solutions through equity and debt while continuing our commitment to operational excellence. I want to clearly point out that most of the HaaS projects in our pipeline, including our latest contract with Partner in Pet Food in Europe, will be funded through third-party project financing and will not require extraordinary project-level investment from Brenmiller," stated Brenmiller Chairman and Chief Executive Officer Avi Brenmiller.

    Brenmiller Energy delivers low-carbon heat through direct technology sales and a HaaS model. The latter lowers energy transition costs for customers and allows Brenmiller to capture additional recurring revenues through participation in energy market programs.

    About bGen

    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.

    Seite 1 von 3



    Business Wire (engl.)
    0 Follower
    Autor folgen

    Brenmiller Energy Further Fortifies Balance Sheet with $2 Million Raised from At-The-Market Equity Offering at $2.19 per Share Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (“TES”) solutions for industrial and utility customers, today issued an update on its balance sheet and …