Brenmiller Energy Ltd. BNRG shares skyrocketed after it announced a record project pipeline as of May 1, 2024. The company has 49 potential contracts worth over $500 million, representing more than 6,000 MWh of zero-emission heat for its bGen ZERO TES systems.
Brenmiller’s bGen TES technology replaces fossil fuel boilers in industrial and power plants, which account for nearly a quarter of global emissions. The modular, highly configurable system offers scalable, zero-emission heat with 24/7 operational reliability.
Brenmiller is progressing projects in 12 industries, with the largest shares in food and beverage, consumer goods, energy, chemicals, and pharmaceuticals across 13 countries, including the U.S., Spain, Hungary, Israel, and India.
About two-thirds of these projects are equipment sales, and one-third are through an Energy-as-a-Service model, with nearly all converting renewable electricity into process heat.
“The nearly fifty active project proposals, offers and negotiations our team has going with some of the largest and most innovative industrials and energy companies is great for business, but it’s even better for the planet,” commented Brenmiller’s Chairman and CEO, Avi Brenmiller.
“Several of these projects are in advanced stages of negotiations and we anticipate that two to four of them may advance into binding, revenue-generating contracts in the coming quarters.”
Price Action: BNRG shares are trading higher by 29.4% at $2.73 at the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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