Brenmiller’s bGen™ Selected as Preferred Solution for Spain-Based Cadiz Project Designed to Produce 29,000 Tons of Green e-Methanol Annually
13 12월 2023 - 10:00PM
Business Wire
- Non-Binding Memorandum of Understanding signed with SolWinHy
Cádiz S.L, a special purpose company, jointly owned by Green Enesys
Group and Viridi RE, to develop new-build hydrogen and e-methanol
projects
- Feasibility studies and proof-of-concept successfully
completed
- bGen thermal energy storage system to be integrated and
operated with wind and solar powered facilities producing 220
MW of electricity completely off-grid
Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy” or the
“Company”) (Nasdaq: BNRG), a global leader in thermal energy
storage (“TES”), today announced it has signed a non-binding
Memorandum of Understanding (“MOU”) with SolWinHy Cádiz S.L, a
special purpose company jointly owned by two European developers of
green energy projects, Green Enesys Group and Viridi RE, to develop
new-build hydrogen and e-methanol projects. Brenmiller’s bGen is to
provide clean steam production and energy storage for SolWinHy
Cadiz in Arcos de la Frontera, Spain (the “SolWinHy Project”).
This agreement follows a previously executed non-binding
memorandum of understanding in September 2022 which outlined plans
to mutually conduct feasibility studies for integration of bGen
into several new-build green hydrogen and e-methanol production
facilities planned to be constructed in Europe. The SolWinHy
Project’s aim is to contribute to the decarbonization of the
European Union’s industrial, power generation and transportation
sectors.
Green e-methanol, a clean energy source, is produced from
hydrogen that is sourced from renewable electricity and captured
biogenic carbon dioxide. The SolWinHy Project is being designed to
produce over 29,000 tons of green e-methanol per year and will
incorporate 54 MW of wind and 165 MWp of photovoltaic electricity
production disconnected from the electrical grid, generating power
exclusively from renewable energy with no impact on Spain’s
national grid. The SolWinHy Project is expected to integrate bGen
thermal energy storage capabilities with a capacity of at least 55
MWh.
Under the terms of the MOU, Brenmiller and SoWinHy Cadiz S.L
will together finalize the front-end engineering and design phase,
integrating bGen into the SolWinHy Project, as well other potential
new projects, as necessary. A final investment decision for the
project is expected by the third quarter of 2024.
“We are pleased to see our initial MOU with Green Enesys and
Viridi come to fruition with this specific SolWinHy Project that
has already completed the key feasibility and proof-of-concept
milestones,” stated Brenmiller’s Chairman and CEO, Avi Brenmiller.
“Green e-methanol has great potential to replace fossil fuels in
heavy carbon emitting industries. We are working diligently with
our partners to complete the front-end engineering and design which
will move us into the phase where Green Enesys and Viridi will lead
the financing of the joint project.”
José Luis Morán, Green Enesys and Viridi’s Integrated Energy
Solutions director added, “Brenmiller’s bGen is a proven solution
that we trust to produce clean steam 24/7 at demand. We are pleased
to partner with Brenmiller's dedicated team of energy experts to
build the SolWinHy Project and help the European Union achieve its
clean energy goals.”
About Brenmiller Energy Ltd.
Brenmiller Energy delivers scalable thermal energy storage
solutions and services that allow customers to cost-effectively
decarbonize their operations. Its patented bGen thermal storage
technology enables the use of renewable energy resources, as well
as waste heat, to heat crushed rocks to very high temperatures.
They can then store this heat for minutes, hours, or even days
before using it for industrial and power generation processes. With
bGen, organizations have a way to use electricity, biomass and
waste heat to generate the clean steam, hot water and hot air they
need to mold plastic, process food and beverages, produce paper,
manufacture chemicals and pharmaceuticals or drive steam turbines
without burning fossil fuels. For more information visit the
company’s website at https://bren-energy.com/ and follow the
company on X (formerly Twitter) and LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and other federal securities laws.
Statements that are not statements of historical fact may be deemed
to be forward-looking statements. For example, the Company is using
forward-looking statements in this press release when it discusses:
the Company’s bGen to provide clean steam production and energy
storage at the Cadiz Project; the aim of the Cadiz Project to
contribute to the decarbonization of the European Union’s
industrial, power generation and transportation sectors; the
Company and SoWinHY Cadiz S.L will together finalise the front-end
engineering and design phase, integrating bGen into the Cadiz
Project as well as other potential new projects, as necessary; the
expectation that the Cadiz Project will integrate bGen TES
capabilities with a capacity of at least 55MWh; and the final
investment decision for the Cadiz Project is expected by the end of
the third quarter of 2024. Without limiting the generality of the
foregoing, words such as “plan,” “project,” “potential,” “seek,”
“may,” “will,” “expect,” “believe,” “anticipate,” “intend,”
“could,” “estimate” or “continue” are intended to identify
forward-looking statements. Readers are cautioned that certain
important factors may affect the Company’s actual results and could
cause such results to differ materially from any forward-looking
statements that may be made in this press release. Factors that may
affect the Company’s results include, but are not limited to, the
Company’s planned level of revenues and capital expenditures, risks
associated with the adequacy of existing cash resources, the demand
for and market acceptance of our products, impact of competitive
products and prices, product development, commercialization or
technological difficulties, the success or failure of negotiations
and trade, legal, social and economic risks and political, economic
and military instability in the Middle East, specifically in
Israel. The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties, many of
which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s Annual Report on
Form 20-F for the year ended December 31, 2022 filed with the SEC
on March 21, 2023, which is available on the SEC’s website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213547802/en/
Media: Tori Bentkover
brenmillerenergy@antennagroup.com
Brenmiller Energy (NASDAQ:BNRG)
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