Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 57

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 57
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 11, 2024, we signed a non-binding memorandum of understanding with RSP Systems outlining the terms of a distribution agreement
for RSP Systems to be the exclusive distributor of our bGen units in the northeast region of the United States. On June 3, 2024, we entered
into a distribution agreement with Rock Energy Storage LLC to sell and distribute our bGen™ thermal energy storage systems in Connecticut,
Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and New York. The definitive 5-year agreement includes cumulative projected
sales milestones exceeding $150 million.

On
June 12, 2024, we signed a non-binding memorandum of understanding with Proactive Planet, a renewable energy solutions provider based
in Calgary, Canada to distribute bGen™ TES systems to industrial companies and electric utilities in the province of Alberta in
Canada. The agreement aims to expand and accelerate the rollout of our bGen™ TES technology through equipment sales. Under its terms,
a prospective 3-year definitive agreement would include projected sales milestones based on the companies’ pipeline. The term of
the memorandum of understanding expired on December 7 2024, and the parties did not extend the longstop date, however, there is still
ongoing dialogue about several potential customers, and if such leads would materialize, 5h3 the parties would operate under the terms
of the memorandum of understanding.

On
August 19, 2024, we announced that we had entered into a 12-year EaaS agreement with Partner in Pet Food Hungaria KFT, or PPF, one of
Europe’s leading private label pet food producers. Under the terms of the agreement, we will deliver low-cost and low-carbon steam
to PPF and be in a position to offer grid balancing services to the local transmission system operator, MAVIR. Under the terms of the
agreement, we will design, build, own and operate a 30 MWh bGen™ ZERO system next to PPF’s pet food manufacturing plant in
Dombovar, Hungary. Our bGen™ ZERO will take priority over PPF’s existing fossil fuel boilers, significantly reducing the pet
food manufacturer’s energy costs and carbon footprint. PPF will purchase steam from Brenmiller at a fixed rate. As of March 4, 2025,
the progress continues on project development, including the signing of a land option agreement, establishment of an SPV, and submission
of a grid connection request. Project financing