JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
ROSH HA’AYIN, IL – Brenmiller Energy Ltd. (NASDAQ:BNRG), a global provider of Thermal Energy Storage (TES) solutions with a current market capitalization of $4.52 million, has announced that its joint venture partners, Green Enesys Group and Viridi RE, have received €25 million in funding from the European Hydrogen Bank for the SolWinHy Project in Spain. Brenmiller estimates its supply of the bGen™ TES system for the project to be approximately €7 million, a significant opportunity given the company’s current valuation. According to InvestingPro analysis, the company maintains a healthy current ratio of 2.25, indicating strong short-term liquidity.
The SolWinHy Project, located in Arcos de la Frontera, is aimed at constructing new green hydrogen and green e-methanol facilities in Europe. Brenmiller’s involvement is expected to reinforce the commercial viability of its bGen™ technology in renewable fuel production.
Additionally, Brenmiller is preparing for an upcoming milestone in July 2025 with Tempo Beverages Ltd., where its bGen™ system is anticipated to deliver significant energy savings in a commercial manufacturing setting. This project is set to demonstrate the technical capabilities of the bGen™ system and its strategic value in the market.
The company also highlighted the growing opportunity in the nuclear energy sector, particularly for AI and data centers. With countries in Europe revisiting nuclear power and the U.S. advancing small modular reactors, Brenmiller’s TES technology could play a pivotal role in enhancing nuclear power plants’ flexibility and grid responsiveness.
Brenmiller’s CEO, Avi Brenmiller, expressed confidence in the TES technology’s fit for nuclear applications, citing the company’s project with ENEL in Italy as an example of its potential. He also noted the company’s efforts in cost-cutting and streamlining operations to prepare for scalable growth and exploring opportunities for value creation through potential licensing of its intellectual property.
While the press release contains forward-looking statements regarding Brenmiller’s projects and market opportunities, it also acknowledges the volatility of the market environment, particularly for small-cap companies. Brenmiller Energy’s approach includes strategic measures to strengthen its core business in anticipation of future growth.
This news is based on a press release statement from Brenmiller Energy Ltd.
In other recent news, Brenmiller Energy announced a public offering of ordinary shares and warrants, aiming to raise approximately $1.5 million. The offering includes 2,307,693 ordinary shares or pre-funded warrants, with Series B and Series C warrants exercisable immediately. The company plans to use the proceeds for general corporate purposes, including working capital and capital expenditures. In a strategic move, Brenmiller Energy also revealed a new corporate structure to accelerate its path to positive cash flow. This reorganization involves creating European subsidiaries to attract private capital without diluting public shareholder equity, supported by a $500 million pipeline of commercial opportunities. The company’s CEO emphasized that this shift would optimize financial profiles and enhance public market valuation. Meanwhile, DarioHealth announced the appointment of Chen Franco-Yehuda as the new Chief Financial Officer following the retirement of Zvi Ben-David. Franco-Yehuda, who previously served as CFO at Pluri Inc., will also take on the roles of Treasurer and Secretary. DarioHealth’s CEO expressed confidence in Franco-Yehuda’s ability to lead the company’s financial strategy and contribute to its growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.