Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 52

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 52
---
. In consideration for the services, Wolfson Hospital will pay a total of approximately
NIS 11.9 million (approximately - $3.3 million), in non-equal monthly payments and will have the option to acquire the TES System
after the conclusion of the 7 year service period for an agreed amount equal to NIS 1. million (approximately - $ 0.3 million), and following
which the Hospital will also have the option to acquire annual maintenance services (including spare parts) from us. If the option to
acquire is not exercised, then we will be responsible to dismantle and vacate the TES System from the Wolfson Hospital premises.

Philip Morris

We
entered into a Master Supply and Services Agreement, effective as of December 1, 2021, with Philip Morris Products SA, or Philip Morris,
a large international company in the field of tobacco to supply our bGen storage systems to Philip Morris and its subsidiaries. The agreement
is set for a period of five years, and it sets out, among other things, logistical, technical terms as well as engineering, procurement,
and construction terms. Under the agreement various international companies and manufacturing plants around the world, all of whom are
affiliates of Philip Morris, would be able to contract us directly, through a local service agreement, to supply our systems and integration
services. The agreement also includes customary representations, conditions and indemnification terms.

Also,
we entered into a local service agreement, or the Local Service Agreement, dated February 28, 2022, with Philip Morris Romania S. R. I.,
or Philip Morris Romania, to sell Philip Morris Romania our bGen thermal storage system and services with a capacity of 31.5 megawatt-hour
and steam power of 18.5 megawatts, including biomass system and auxiliary equipment. On April 27, 2023, we received a notice of termination
from Philip Morris Romania with respect to the Local Service Agreement. The notice terminated the Local Service Agreement effective June
26, 2023, commensurate with the 60-day termination notice requirement under the terms of the Local Service Agreement. We have no further
obligations under the Local Service Agreement after the date of the termination. The termination notice had no effect on the Master Supply
and Services Agreement with Philip Morris, which remains fully in force and unchanged.

Pilot Projects

While our initial focus was
on the production of electricity, in 2020 we began to