Brenmiller Energy issues letter to shareholders regarding Spain outage

Brenmiller Energy (BNRG) issued a letter to shareholders from its CEO, Avi Brenmiller. The letter said, “The April 28th outage affecting Spain and surrounding countries further reinforces the need of our technology and validates both our solution and our strategic focus on these geographies. This event highlights the critical importance of reliable energy storage solutions, emphasizing the relevance and value of our offerings. After more than a decade of innovation, $118 million in strategic investments, and field-proven deployments across three continents, our TES systems are not just operational- they’re leading the market. We’ve collaborated with some of the world’s most respected energy leaders, we’ve commissioned and are building over 100 MWh of projects, and we’re on the cusp of completing our flagship Tempo project in Israel, replacing fossil fuel boilers with our clean heat battery technology. This progress is not aspirational. It’s tangible, it’s measured, and it’s accelerating. Our pipeline of commercial opportunities, valued at over $500 million, reflects the global demand for proven clean heat solutions. As industries move to decarbonize and reduce their reliance on fossil fuels, our technology is meeting that need head-on with performance, reliability, and scalability. In an environment where many companies are still conceptual, Brenmiller is already delivering. The market is evolving-and we are leading that evolution with a bold step forward. We believe that our current corporate structure, designed to expand our reach and unlock new sources of private capital, will help accelerate our timeline to positive cash flow. Under this structure, our parent company retains full ownership of our proprietary technology while licensing it to newly formed European subsidiaries. These subsidiaries are open to direct private investment, enabling them to rapidly scale localized operations and convert our pipeline into revenues-without diluting our public shareholders…”