Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 49

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 3
Chunk 49
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raising capital through private placements, public offerings, through government grants under approved research and development plans.
In addition, management is planning to find additional cash sources through additional equity and/or debt financing. There are no assurances
however, that we will be successful in obtaining the level of financing needed for our operations or that such financing will be available
on terms acceptable to us. If we are unsuccessful in commercializing our products and raising capital, we may need to reduce, delay, or
adjust its operating expenses, including commercialization of existing products or be unable to expand its operations, as desired.

The Industrial Facilities Market

Our primary focus is expanding
the use of our bGen™ technology into industrial facilities with heavy thermal consumptions, such as the food, beverages, pulp and
paper, steel, plastic, chemical, and pharmaceuticals industries, and organizations looking to reduce their carbon footprint by replacing
their fossil fuel-based steam generation with a renewable-based system, such as hospitals. Our bGen™ TES systems also offer solutions
for waste heat recovery, electrification of heat, and several other applications.

Industrial heat makes up to
two-thirds of industrial energy demand and almost one-fifth of global energy consumption. Industrial heat is also the primary source of
direct CO₂ emissions in the industrial sector, as most industrial heat is still generated through fossil fuel combustion. According
to the International Energy Agency’sRenewables 2023report, renewable heat sources, including biomass and electrification,
have gained traction, but they still account for only 13% of global industrial heat consumption, underscoring the urgent need for further
decarbonization efforts.

The Power Plants Market

As of the year 2021, thermal
power plants constitute the main source of electricity production in most countries around the world. We expect that this will continue
to be the case for many years to come. Operators of these stations are facing significant challenges as they attempt to shift from operating
solely as a continuous source of electricity to operating as a supplemental source to the production of renewable energy. This results
in the need to change their operational profile from baseload (flat) operations to a fluctuating operation profile, with which many companies
struggle. In order to overcome these technical challenges, and in order to maintain competitiveness in the market, power plants are expected
to integrate means of energy storage that support maximum efficiency while allowing for more flexible operation profiles.

Our TES systems are suitable
for integration into gas-powered and combined cycle power plants,