Brenmiller Receives $450,000 Grant To Supply Low-Carbon Electric Heat To Wolfson Hospital
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Brenmiller Energy Ltd. (NASDAQ:BNRG) has received a $450,000 grant from the Israel Innovation Authority for its thermal energy storage project at Wolfson Hospital in Israel. This grant complements a previously approved $3.7 million budget from the Israel Ministry of Finance. The bGen™ ZERO system by Brenmiller is expected to save Wolfson Hospital up to $1.3 million annually and reduce its carbon footprint by 3,900 tons per year. The company has also received a grant from the Israel Ministry of Environmental Protection for a project at a beverage plant owned by Tempo Beverages Ltd., a subsidiary of Heineken International B.V. Brenmiller's bGen™ ZERO system, named among TIME's Best Inventions of 2023, is designed to convert electricity into heat for industrial processes and support utility-scale renewable energy projects.
January 18, 2024 | 1:14 pm
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Brenmiller Energy Ltd. has been awarded a $450,000 grant for its thermal energy storage project, which is expected to significantly reduce operational costs and carbon emissions for Wolfson Hospital. The company's bGen™ ZERO system has also been recognized for its innovation in the green energy sector.
The grant from the Israel Innovation Authority, along with the recognition of bGen™ ZERO as one of TIME's Best Inventions of 2023, positions Brenmiller Energy positively in the market. These developments are likely to be viewed favorably by investors, as they demonstrate both government support and innovation leadership, which could lead to increased investor confidence and potential stock price appreciation in the short term.
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