Brenmiller Energy Ltd. (NASDAQ:BNRG) announced that construction of its thermal energy storage project at Tempo Beverages Ltd. has been completed and the system has entered the commissioning phase, according to a company press release.
The company’s shares currently trade around $0.83, close to a 52-week low of $0.81, giving the firm a market capitalization of roughly $1.24 million.
Under the project, the Tempo facility will shift all of its steam production to Brenmiller’s thermal energy storage system through a Heat-as-a-Service arrangement. The installation represents a large-scale industrial application in which thermal energy storage replaces conventional fossil fuel boilers at the site.
Brenmiller also introduced its BNRG360 strategy, which positions the company as an integrated energy partner offering bundled heat and power solutions through long-term service agreements. The model combines renewable generation, battery storage and Brenmiller’s proprietary thermal energy storage technology.
The company has raised about $9 million under a private placement agreement signed in July 2025 with Alpha Capital Anstalt. Under the terms of the deal, Brenmiller could secure up to an additional $16 million, which it expects to use to finance commercial thermal energy storage projects and support working capital.
Chief Executive Officer Avi Brenmiller said in a letter to shareholders that the company is “entering a new phase of broader commercial deployment.” He also noted that he has personally invested tens of millions of dollars into the company and acknowledged that shareholders have faced significant losses as the stock price declined. The shares have dropped about 98% over the past year and are down 76% year-to-date, although revenue increased 844% over the last twelve months as of the second quarter of 2025.
The company plans to replicate similar installations at additional industrial facilities across Europe and other target markets, using standardized project structures and long-term energy service contracts.
Brenmiller Energy develops integrated power and heat solutions for industrial and utility customers based on its thermal energy storage technology.
In related developments, Brenmiller recently accelerated its BNRG360 platform to offer combined heat and power solutions to industrial clients amid a surge in European natural gas prices, which have risen above €60 per megawatt-hour following disruptions in global energy supply routes.
The company also completed construction of a 32 MWh thermal energy storage system for Tempo Beverages, representing its first large-scale industrial deployment designed to replace fossil fuel-based steam production. The system is currently undergoing testing before full commercial operation.
Additionally, Brenmiller finalized electrical work at the Tempo facility, enabling full electrification of the thermal storage system, which converts electricity into industrial heat. The company has also launched a broader integrated energy services strategy under the BNRG360 platform, combining its bGen™ thermal storage systems with solar photovoltaic generation and battery storage to deliver comprehensive clean energy solutions to industrial customers.