Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 54

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 54
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. During the charging phase, steam produced by the Santa
Barbara facility passes through pipes to heat adjacent crushed rocks; during the discharging phase, the accumulated heat is released to
heat pressurized water and generate steam for electricity. This first-of-its-kind TES system can store up to 24MWh of clean heat at a
temperature of about 550° C for five hours, providing critical resiliency to the power plant.

The
bGen™ unit was inaugurated in November 2022 and the parties are currently in discussions regarding conclusion of the contract.

Following
the testing phase of the system, Enel will have an option to add additional storage capacity at the site. We are exploring with Enel further
cooperation on additional projects for Enel’s clients in which our technology would be used to decarbonize industrial heat.

The
following image is a design illustration of the bGen™ unit installed at Enel’s site in Italy.

Fortlev

In 2019, we entered into a project agreement with Fortlev Energia Solar Ltd., a Brazilian plastic tank manufacturer, or Fortlev, to design,
manufacture and install a TES system at Fortlev’s production facility in Anápolis, Brazil, in consideration for $380,000,
to be paid pursuant to certain milestones. In August 2022, we inaugurated the bGen TES unit at Fortlev’s facility. The 1 MWh bGen
unit enables Fortlev to use renewable biomass rather than natural gas to heat the air it uses to make plastic water tanks with rotational
molding machines.

On
January 11, 2020, we entered into an agreement with Fortlev pursuant to which we granted Fortlev an exclusive license for a period of
25 years, or until validity date of our patent rights over the bGen technology (whichever comes first), to engineer, manufacture, commercialize
and sell our bGen™ technology in Brazil and Columbia. Fortlev will pay the total amount of $1.5 million to the Company in consideration
for the marketing license, in addition to royalty payments equal to 10% of sales.

The
agreement also provides that Fortlev will make its best efforts to construct a manufacturing facility in Brazil as soon as possible after
the effective date of the agreement, and to obtain any licenses necessary to commercially produce bGen, with all costs of the construction
and licensing of the manufacturing facility to be paid by Fortlev. On August 31