Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 55

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 55
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, 2020, Fortlev has notified us that they intend to start
planning and building a production facility to produce products incorporating the bGen™ technology. Fortlev is expected to bear
all the expenses of the building of this facility in Brazil. During 2024, the agreement between the parties was terminated by mutual understanding.

Rotem 1

The Rotem 1 project is a concentrated
solar thermal project in Dimona, Israel. Concentrated solar thermal collectors are coupled with a TES system and steam turbine power block
set to supply electricity to Israel’s Electric Corporation under a power purchase agreement with Israel’s Electric Corporation.
After December 31, 2020, we began to act to realize our holdings in the Rotem 1 Project and to construct it for a third party. In 2022,
following an agreement reached with the lessor of the land on which the Rotem 1 project was built, we vacated the premises and the land
was returned to the lessor after dismantling the facility. Following this, we ceased operations of our Rotem 1 project and consequently
derecognized the lease obligation and right of use of the land. For the year ended December 31, 2022, we recorded an impairment charge
of $360 thousand in connection with this project. On July 17, 2023, our board of directors approved the liquidation of Brenmiller Energy
(Rotem) Ltd. and the sale of the hydroelectric microturbine from Brenmiller (Rotem) Ltd. to Brenmiller Energy Ltd. in accordance with
its fair value as shown in its consolidated financial statements. In 2024, the Company has written-off the hydroelectric microturbine
in the amount of $229 thousand. For more information, see “ Item 5. A. Operating and Financial Review and Prospects - Comparison
of the Year Ended December 31, 2024 to the Year Ended December 31, 2023 - Other income (expenses), net. ”

Prospective Projects

In
September 2022, we signed a Memorandum of Understanding with Green Enesys Deutschland GmbH, or Green Enesys, and Viridi Energias Renovables
Espana, S. L., or Viridi RE, two European based developers of green energy projects, to perform engineering studies for incorporating our
bGen TES for Green Enesys’ and Viridi REs’ proposed green hydrogen