Brenmiller Energy Signs 5-Year Distribution Deal for bGen™ Systems
Ticker: BNRG · Form: 6-K · Filed: Jun 6, 2024 · CIK: 1901215
Sentiment: bullish
Topics: distribution-agreement, new-market-entry, energy-storage
TL;DR
Brenmiller Energy inks 5-year deal with Rock Energy Storage to push bGen™ systems in NY & New England.
AI Summary
On June 3, 2024, Brenmiller Energy Ltd. entered into a 5-year license distribution agreement with Rock Energy Storage LLC (RES) to sell and distribute its bGen™ thermal energy storage systems in New York and several New England states. The agreement includes cumulative projected sales milestones.
Why It Matters
This agreement expands Brenmiller Energy's market reach for its thermal energy storage solutions into key Northeastern US states, potentially driving significant sales and adoption of their technology.
Risk Assessment
Risk Level: medium — The agreement is contingent on meeting projected sales milestones, and the success of the distribution partnership is not guaranteed.
Key Numbers
- 5-year — Agreement Term (Duration of the license distribution agreement)
Key Players & Entities
- Brenmiller Energy Ltd. (company) — Registrant and seller of bGen™ systems
- Rock Energy Storage LLC (company) — Distributor of bGen™ systems
- bGen™ (product) — Thermal energy storage system
- June 3, 2024 (date) — Date of agreement
FAQ
What specific states are covered by the distribution agreement?
The agreement covers Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, and New York.
What is the name of Brenmiller Energy's thermal energy storage system?
The system is named bGen™.
Who is the partner for this distribution agreement?
The partner is Rock Energy Storage LLC (RES).
What is the duration of the agreement?
The definitive agreement is for 5 years.
Does the agreement include sales targets?
Yes, the agreement includes cumulative projected sales milestones.
Filing Stats: 482 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-06-06 08:50:33
Key Financial Figures
- $150 million — ve projected sales milestones exceeding $150 million. Cogeneration Contractors Inc. dba RSP
Filing Documents
- ea0207432-6k_brenmiller.htm (6-K) — 13KB
- ea020743201ex99-1_brenmiller.htm (EX-99.1) — 14KB
- ex99-1_001.jpg (GRAPHIC) — 200KB
- 0001213900-24-050207.txt ( ) — 303KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Brenmiller Energy Ltd. Date: June 6, 2024 By: /s/ Avraham Brenmiller Name: Avraham Brenmiller Title: Chief Executive Officer 2