Brenmiller bGen(TM) Green e-Methanol Project in Spain Secures +€25 Million Funding from European Hydrogen Bank
bGen™ thermal energy storage system to be charged using renewable energy to store and provide 56 MWh of clean heat for green e-methanol production at SolWinHy Cadiz S.L.SolWinHy selected as one the European Union's top green hydrogen projects with plans to deliver 6,500 tons of green hydrogen annually for 30,000 tons of green e-methanol, 100% renewable energy from off-grid solar and wind, and sustainable water sourced from local waste water plantProject demonstrates the potential of hydrogen and e-fuels to decarbonize the European Union's industrial, power generation, and transportation sectorsProject is part of Brenmiller Europe's $200 million pipelineof commercial opportunities that are advancing toward funding and implementation
MADRID, SPAIN / ACCESS Newswire / May 23, 2025 / Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (Nasdaq:BNRG), a leading global provider of thermal energy storage ("TES") solutions for industrial and utility customers, announced today that the European Hydrogen Bank, has granted SolWinHy Cádiz S.L. (the "SolWinHy Project") in Arcos de la Frontera, Spain, €25 million in funding. From the total project CAPEX, €7 million are earmarked for Brenmiller's bGen™ TES. The project is slated to commence in the first quarter of 2026 when Brenmiller expects to receive a purchase order for the bGen™ andassociated services.
SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group ("Green Enesys") and Viridi RE ("Viridi") to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller's joint venture partners in Brenmiller Europe S.L. ("Brenmiller Europe") which currently has a growing project pipeline of commercial opportunities valued at over $200 million.
"We believe that this +€25 million project funding from the European Hydrogen Bank is a strong validation of bGen™'s critical place in Europe's clean energy ecosystem and demonstrates the value of our industry-leading TES technology globally" stated Brenmiller's Chairman and Chief Executive Officer, Avi Brenmiller. "We've worked diligently with our partners Green Enesys and Viridi to complete the front-end engineering and design that led to the financing of the SolWinHy Project. This is a model for how we plan to roll out potentially up to $200 million worth of projects in Europe, by leveraging project financing and collaborations, as Brenmiller generates upfront and recurring revenues delivering bGen™ systems, services, and technology licensing."
José Luis Morán, Green Enesys and Viridi's Integrated Energy Solutions director added, "Brenmiller's bGen™ is an essential part of making SolWinHy one of the EU's top green hydrogen projects and was a key component in securing this funding, without the bGen™ the project could not operate off-grid, using only renewable electricity. As a partner in Brenmiller Europe, we expect several other potential bGen™ projects to rapidly advance toward funding and implementation as the EU prioritizes achieving its clean energy goals."
Green e-methanol, a clean energy source, is produced from hydrogen that is sourced from renewable electricity and captured biogenic carbon dioxide. The SolWinHy Project is being designed to produce over 30,000 tons of green e-methanol per year and will incorporate 54 MWh of wind and 130 MWp of photovoltaic electricity production disconnected from the electrical grid, generating power exclusively from renewable energy with no impact on Spain's national grid. The SolWinHy Project is expected to integrate bGen™ thermal energy storage capabilities with a 56 MWh capacity.
About SolWinHy
SolWinHy Cádiz is an innovative green methanol production plant located in Arcos de la Frontera, Cádiz, Spain. As the first project in a series aimed at advancing renewable energy, this facility is set to produce 30,000 tons of E-Methanol annually. The plant is powered entirely by renewable energy, utilizing a 130 MW solar PV installation and a 54 MW wind farm. This setup allows the facility to operate independently of the national grid in island mode, ensuring that all hydrogen and methanol production is 100% renewable. An 80 MW electrolyzer generates green hydrogen, which is combined with biogenic CO2 to produce methanol. The project is situated on 463 hectares of agricultural land, secured through a 35-year lease with the option to extend for an additional five years. SolWinHy Cádiz is strategically positioned to supply green methanol to Germany, with advanced negotiations already underway with potential off-takers.
For more information about the project and Brenmiller Energy's latest updates, please visit www.bren-energy.com.
About bGen™
bGen™ ZERO is Brenmiller's TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen™ ZERO charges by capturing low-cost electricity from renewables or the grid and stores it in crushed rocks. It then discharges steam, hot water, or hot air on demand according to customer requirements. The bGen™ ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen™ ZERO was named among TIME's Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at https://bren-energy.com/ and follow the company on X and LinkedIn.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the company is using forward-looking statements in this press release when it discusses: the SolWinHy project and its expected integration of bGen™ thermal energy storage capabilities with a 56 MWh capacity; SolWinHy Project plans to produce 6,500 tons of green hydrogen annually to generate 3',000 tons of green e-methanol using 100% renewable energy from solar and wind and sustainable water sourced from local wastewater reuse; bGen™ TES deployment scheduled to commence in Q1 2026, subject to receipt of purchase order for system and associated services;; Brenmiller Europe's growing commercial project pipeline valued at over $200 million advancing toward funding and implementation through strategic collaborations and project financing; and SolWinHy's renewable power generation designed to include 54 MW of wind and 130 MWp of photovoltaic electricity disconnected from the national grid. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain crucial factors may affect the company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the company, including those set forth in the Risk Factors section of the company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on March 4, 2025, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
investors@bren-energy.com
SOURCE: Brenmiller Energy Ltd.
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Those statements include statements regarding the intent, belief or current expectations of QCi and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the timing of orders and revenue, and the outcome of ongoing collaborations and demonstration projects with certain U.S. government agencies, academic institutions and commercial customers, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice): All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K. QUANTUM COMPUTING INC. Consolidated Balance Sheets (in thousands, except par value data)March 31, December 31,2025 2024Assets Current assets: Cash and cash equivalents$ 166,429 $ 78,945 Accounts receivable, net 2027 Inventory 13118 Prepaid expenses and other current assets 660161Total current assets 167,24079,151Property and equipment, net 9,9768,212Operating lease right-of-use assets 1,4191,522Intangible assets, net 8,1968,972Goodwill 55,57355,573Other non-current assets 129129Total assets$ 242,533 $ 153,559 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$ 2,022 $ 1,372 Accrued expenses 6472,134 Deferred revenue 8379 Other current liabilities 990974Total current liabilities 3,7424,559Derivative liability 16,90240,532Operating lease liabilities 1,0621,181Total liabilities 21,70646,272Stockholders' equity: Common stock, $0.0001 par value, 250,000 thousand shares authorized; 137,322 thousand and 129,012 thousand shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 1413 Additional paid-in capital 404,313307,756 Accumulated deficit (183,500)(200,482)Total stockholders' equity 220,827107,287Total liabilities and stockholders' equity$ 242,533 $ 153,559 QUANTUM COMPUTING INC. Consolidated Statements of Operations (in thousands, except per share data)Three Months EndedMarch 31,2025 2024Total revenue$ 39 $ 27Cost of revenue 2616Gross profit 1311Operating expenses Research and development 2,9852,220Sales and marketing 672451General and administrative 4,6423,659Total operating expenses 8,2996,330Loss from operations (8,286)(6,319)Non-operating income (expense) Interest and other income 1,69638Interest expense, net (58)(155)Change in fair value of warrant liabilities 23,630-Income (loss) before income tax provision 16,982(6,436)Income tax provision --Net income (loss) 16,982(6,436) Net income (loss) attributable to common stockholders$ 16,982 $ (6,436) Earnings (loss) per share: Basic$ 0.13 $ (0.08)Diluted$ 0.11 $ (0.08)Weighted average shares used in computing net earnings (loss) per common share: Basic 135,21781,934Diluted 153,00681,934 View original content to download multimedia: SOURCE Quantum Computing Inc. 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