Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 126

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 126
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 Company is committed to pay the Bird Foundation royalties
from gross revenues derived from the sale, leasing or other marketing or commercial exploitation, including service or maintenance contracts
of the Product, or the licensing of the Product, at the rate of5%. Refund amount increases in stages over time, up to a maximum refund
of150% of the total amount of the grant, subject to the extension of the repayment period.

Under the Agreement, the Company will
pay annual royalties to NYPA of5% from gross sales made, beginning June 1, 2022, until NYPA has been fully compensated for the expenditure
amounts agreed between the Parties. Royalties for each year will be paid in the subsequent year, the first of which was done in 2023 and
included retroactive payment of the royalty liability since January 11, 2018, in an immaterial amount.

As of December 31, 2024, the balance
of the royalty commitment to NYPA under the above grants amounts to $1,091thousand.

After NYPA is fully compensated for
the above amount, NYPA shall receive3.5% royalties from gross sales made within the US territory, for the remainder of a 10-year-period
beginning upon the initial sale or licensing of the Product to a third party (2019).

F-31

Brenmiller Energy Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 12 - COMMITMENTS(cont.):

  Lease agreements with customers:  

  On September 14, 2023 the Company signed an agreement with                                                                 
  an Israeli beverage producing company (“ Tempo”), to build and assemble a bGen™ TES unit (see Note 5), that will provide,  
  when commissioned, industrial steam to one of Tempo’s manufacturing locations.                                             
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Under the agreement, Tempo has undertaken
to participate in all costs to build, install and integrate the system with its facilities, and pay to the Company participation up to
the amount of NIS3.4million (approximately $0.9million) with respect to the building and installation costs. The funding of the project
will also be supported by the Israeli Ministry of Economy and Industry, that has approved it as a Clean Project, with a participation
grant of NIS2.2million (approximately $595thousand).

Commencement of the lease will be after