Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 124

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 124
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───────────────────────────────────────────────────────────────
  Cost of revenue                                                              9         52         36  
  Research and development                                                   348        416        258  
  Sales and marketing                                                        204        279        240  
  General and administrative                                                 824      1,034        800  
  Total share-based compensation expenses                                  1,385      1,781      1,334  

As
of December 31, 2024, there is an unrecognized share-based compensation expense of $ 189 1.3

F-29

Brenmiller Energy Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 11 - EQUITY(cont.):

  Share-based payment: (cont.)  

  The calculated fair value of option grants was estimated using the Black-Scholes pricing model with the  

                                       Year ended December 31                                         
                                       2024                            2023      2022                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Risk-free interest rate              3.84% - 4.4%                   4.75%      0.1%- 2.0%           
  Expected option term (in years)      2.0 – 5.0                       10.0      2.0 - 10.0           
  Expected price volatility            96% - 152%                       76%      66%- 82%             
  Fair value of an ordinary share      $ 0.63 - $ 6.10             NIS 32.6      NIS 82.7 -NIS 159.7  
  Dividend yield                       0%                                0%      0%                   

NOTE 12 - COMMITMENTS:

  Israeli government grants:  

  Through December 31, 2024, the Company received grants from the Israeli Innovation Authority (“ IIA”)                                     

Out of the above $4.3million received: (i) $2.5million is subject to payment of royalties at a rate of between3% and5% (in accordance with the Encouragement of Research
and Development in Industry Regulations (Rate of Royalties and Rules for their Payment), 5756 - 1996) from all revenues derived from
the use of technology developed. The royalty payments are linked to the dollar, and bear LIBOR interest (commencing January