Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com -- Brenmiller Energy Ltd . (NASDAQ:BNRG) stock surged 12.5% after signing a non-binding memorandum of understanding with ENASCO Ltd. to develop thermal energy storage solutions integrated with small modular reactors (SMRs).
The collaboration will combine Brenmiller’s bGen thermal energy storage system with liquid metal reactor-based SMRs, targeting artificial intelligence data centers as an initial market. According to the agreement, the companies aim to deploy three commercial-scale projects valued at $50 million by 2030, with the first joint project launching in 2027.
The partnership’s longer-term goals include developing 15-20 projects with a potential value of $650 million by 2035. Their strategic timeline includes forming alliances with SMR vendors and pilot integration with AI data centers in 2026.
"In cooperation together with ENASCO, we plan to leverage our complementary capabilities to explore creating a scalable, high-efficiency hybrid platform that answers the energy market’s need for clean and dispatchable baseload power," said Doron Brenmiller, Chief Business Officer of Brenmiller Energy.
The companies stated their integrated system would offer enhanced passive safety, streamlined design, grid flexibility, and scalability for projects ranging from 10 MWh pilots to multi-GWh utility-scale systems.
According to a McKinsey & Co. report cited in the announcement, AI data centers will account for nearly 12% of total power demand in the United States by 2030. International Energy Agency data indicates SMR capacity could reach 120 GW by 2050, requiring more than $670 billion in global investment.
ENASCO provides engineering and consulting services for SMR deployments across Europe, while Brenmiller’s bGen system converts electricity into heat for industrial processes and stores energy in crushed rocks.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.