Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 61

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 61
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The
transfer or license of IIA-supported technology or know-how outside of Israel and the transfer of manufacturing of IIA-supported products,
technology or know-how outside of Israel may involve the payment of significant amounts, depending upon the value of the transferred or
licensed technology or know-how, our research and development expenses, the amount of IIA support, the time of completion of the IIA-supported
research project and other factors. These restrictions and requirements for payment may impair our ability to sell, license or otherwise
transfer our technology assets outside of Israel or to outsource or transfer development or manufacturing activities with respect to any
product or technology outside of Israel. Furthermore, the consideration available to our shareholders in a transaction involving the transfer
outside of Israel of technology or know-how developed with IIA funding (such as a merger or similar transaction) may be reduced by any
amounts that we are required to pay to the IIA.

In
connection with our project agreement with Fortlev on the bGen™ product, we notified the IIA regarding the feasibility of partially
transferring production of the bGen™ technology outside of Israel, the maximum royalties to pay to the Israeli government have been
increased to 120% of the total amount of grants that have been received. In consideration for the support from the BIRD Foundation, we
are obligated, inter alia, to pay royalties at a rate of 5% on all of the revenues deriving from the technology that has been developed
and up to a maximum ceiling of 150% of the amount of the grant, subject to the terms of the agreement with the BIRD Foundation.

The
core technology which we have developed is the TES unit which includes the embedded heat exchanger, the embedded steam generator, the
embedded storage capability, and the embedded conversion from electricity to high-temperature heat. All these embedded functionalities
reside inside the TES unit and are built on a special structure with special insulation. This special developed TES enables to installed
modular and fit to size units at production floors and inside power utilities, to increase flexibility, to enable renewable energy penetration,
and to overcome the intermediate nature of renewable sources while energy has to be supplied to these sites on a regular basis with no
dependency on timing of the renewable sources.

The main application of the
energy storage unit with multi-functions inside has been submitted to patent offices in the United States, Europe, Israel, and South Africa.
All of these submissions have been granted patents. See “ Item