Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 129

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 129
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 on a monthly basis; the fees will be calculated
as a fixed percentage of the gas price the customer had to pay for the operation of the TES unit. Such calculation will also take into
account the Carbon Emission’s price the customer had to pay.

Commencement of building of the TES unit
is conditional on receiving relevant permits from authorities.

Subsequent to balance sheet date, the
Company and its Spanish partner incorporated a new Hungarian company (100% controlled by the Spanish JV), that will acquire the land and
carry out the agreement.

  Product & Service Distribution Agreement (certain U. S.  

On June 3, 2024, the Company entered
into an agreement with a United States domiciled third party, that will act as an exclusive distributor of the Company’s products
and services in certain US states in North America (“the Distributor”), for a period of5years, subject to the Distributor’s
achievement of certain targets, milestones and KPIs for each year within the term. Having achieved these targets and milestones, the agreement
will be extended for additional5years.

F-33

Brenmiller Energy Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 12 - COMMITMENTS(cont.):

  Product &                                                       

In addition to payments for the Company’s
products and services, the Company shall be entitled to royalties of10% from the net price attributed to any customer for sale of products
and services (net price - net of payments to the Company on purchase orders and O& M service agreements).

The Company may yet establish local
bGenTMTES System manufacturing capabilities in the territory or offer sale prospects and/or customers in the territory various
forms of EaaS (Energy as a Service) business model without limitation, which does not preclude the Distributor’s right to receive
equipment profit margin.

  The Company has entered into an agreement with a number of service providers for the purpose of locating                                 

  The Company has also entered into an agreement with a sales agent, pursuant to which the Company may offer  
  and sell its Ordinary Shares, from time to time, to or through the Sales Agent - see Note 11A.              
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NOTE 13 - SUPPLEMENTRY FINANCIAL STATEMENT
INFORMATION

  OTHER PAYABLES (U. S. dollars in thousands):  

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