Company: BNRG
Filing Date: 2025-05-14
Form Type: 424B4
Source: 0001213900-25-042979
Chunk: 9

Company: Brenmiller Energy Ltd.
Filing Date: 2025-05-14
Form: 424B4
Chunk 9
---
2025, we announced that we entered into a strategic cooperation agreement with Baran Energy, a subsidiary of the Baran Group
Ltd., or Baran, (TASE: BRAN), an international engineering company that provides management, design and financing solutions for large-scale
infrastructure projects, to accelerate bGen™ ZERO project development and deployments through sales, acquisitions, and operations
of selected projects in Israel. To further bGen™ uptake within industrial sectors, we plan to sell certain projects to Baran, subject
to the satisfaction of certain conditions precedent, benefiting from Baran’s core project capabilities to ensure effective and
timely deployment.

Business Strategy and Addressable Markets

Industrial heat accounts
for 25% of global energy demand as well as one quarter of the world’s energy pollution. As renewable energy generation increases,
the need for a reliable method to store clean energy is a major challenge facing the industry and regulators. Electrothermal energy storage,
or ETES, fills the gap between the variability of renewable energy availability and the steady need for industrial heat demand, and is
estimated at $155 billion of addressable market value. ETES also charges by taking excess power off the grid when power is cheapest and
stores the energy to output power as needed and when energy prices are higher. Our primary market is the electrification of heat for
the industrial sector. We are focused on the sale of thermal storage equipment using several business models. To date, the completed
projects employ the sale of equipment model in which we design and sell our equipment to third party customers, install the equipment
at the customer’s site and the customer remains the owner of the equipment and we provide warranty and maintenance services to
the customer at a predetermined price as part of the sale package.

<div align='center'>3</div>

In 2023, we also started
the implementation of our new business model, the EaaS model, wherein we install a TES bGen system for the benefit
of third-party customers at a customer’s site and provide operation and maintenance services. We then sell energy (steam, hot air,
etc.) to the customer at agreed upon prices. The EaaS model is more suitable to industrial customers who are not energy experts and wish
to outsource their energy services. In 2023, for the Tempo Beverages Ltd., or Tempo, project, we initiated our first EaaS contracts where
we plan to own, finance, build and operate our TES systems at or near our customers’ sites and either sell