Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 125

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 19
Chunk 125
---
1, 2024 - 
LIBOR was replaced for that purpose with variable annual interest at the rate of the Secured Overnight Financing Rate (“ SOFR”)
as published on the first trading day of each calendar year). Subject to the Company’s announcement to the IIA regarding the feasibility
of a partial transfer of production outside Israel, the royalty ceiling was increased to120% of the above amounts received.

(ii) $0.8million is for technology that
has not matured into a product and for which no royalties will be paid, and

(iii) $1.0million is for grants that do
not bear any royalties.

  As of December 31, 2024, the Company received grants from the Israel Ministry of Energy in the cumulative                                   

F-30

Brenmiller Energy Ltd.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTE 12 - COMMITMENTS(cont.):

  Israeli government grants (cont.):  

  In addition, the Company received in prior years under two support programs of the Israel Ministry of                                     

  As of December 31, 2024, the total amount that may be payable by the Company under the above grants (including accrued interest)  

  New York Power Authority (“ NYPA”) Project  

Under a cooperation agreement (the
“ Agreement”) signed in January 2018 with the New York Power Authority (“ NYPA”) the Company designed and built
a pilot facility that includes a high temperature storage combined heat established and power unit developed by the Company (the “ Product”).
In December 2023, the Company successfully completed commissioning the facility that was handed over to a university in New York, following
training. As from January 2024, the facility provides electricity and hot water to the campus of the university.

Pursuant to the provisions of the Agreement,
signed for a period of10years, and amendment made thereto in prior years, NYPA bore the costs of engineering services and the cost of
materials required for the integration of the Product, including providing technical and logistical support for the commissioning of the
Product. In addition, NYPA undertook to support the marketing efforts of the TES solution developed by the Company in the US and Canada.

As part of the Project financing, the
Company and NYPA (hereinafter - “the Parties”) received a conditional grant from the Bird Foundation (Israel-United States
Research and Development Foundation), in the sum of $1million, for which the