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Driven by rapid growth in AI computing, Brennmiller recognizes importance of new decarbonization and financial opportunities in data center value chain
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By 2030, data center power demand is predicted to increase by 160%, driving innovation and investment in cooling and energy efficiency solutions.
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Brennmiller expects that the investment required to adapt bGen™ thermal batteries for data center applications will be minimal.
Rosh Ha'ayin, Israel, July 18, 2024–(BUSINESS WIRE)–Brennemiller Energy Limited (“Brennemiller”, “Brennemiller Energy” or the “Company”) (Nasdaq: BNRG), a leading global provider of thermal energy storage (TES) solutions to industrial and utility markets, today announced it is expanding the capabilities of its proprietary technology to develop a cold thermal energy storage (CTES) solution for data center applications called bGen™ Cool.™ Production for power-to-heat applications addressing current commercial opportunities with potential sales of up to $500 million.
Artificial intelligence (AI) computing is rapidly being integrated into enterprise systems, driving unprecedented electricity demands. According to a study published by the International Energy Agency in January 2024, processing a ChatGPT query requires nearly 10 times more electricity than performing a typical Google search. A note published by Goldman Sachs research in May 2024 estimated that data center electricity demand will increase by more than 160% by 2030, growing from 1-2% to 3-4% of total electricity consumption worldwide, creating significant upstream opportunities for innovation and investment in cooling and energy efficiency technologies. By leveraging bGen™ core competencies, Brennmiller expects minimal investment will be required to adapt its existing proprietary TES technology to meet data center demands.
“Data centers' needs are not that different from our primary customers', except that they require chilled water and air rather than heat and steam,” said Avi Brennmiller, chairman and CEO of Brennmiller Energy. “We believe that by making some fairly simple modifications to our bGen™ design, we can offer the market a cost-competitive, energy-efficient data center cooling solution.”
Similar to its value proposition for industrial power consumers, CTES systems can deliver significant decarbonization and economic value to data center owners such as Apple, Google, and Meta. bGen™'s modular design aligns with the data center industry's trend toward prefabricated and modular (PFM) solutions, and its industry-leading fast charging capabilities make it ideal for reducing data center energy costs while providing around-the-clock cooling and 24/7 operational reliability. With the ability to charge and discharge simultaneously or independently on demand, bGen™ can also reduce strain on the data center grid, turning the data center into a flexible balancing asset.
About bGen™
Brennmiller's TES system, bGen™, converts electricity to heat at a price competitive with natural gas to power sustainable industrial processes. bGen charges by capturing low-cost electricity from renewables or the grid and storing it in crushed rock. It then emits steam, hot water or hot air on demand, depending on customer requirements. bGen also supports the development of utility-scale renewable energy by providing critical flexibility and grid-balancing capabilities. In 2023, bGen™ was named TIME's Best Invention in the Green Energy category.
About Brenmiller Energy Ltd.
Brennmiller Energy helps energy-intensive industries and power producers break their reliance on fossil fuel boilers. Brennmiller's patented bGen™ thermal battery is a modular, scalable energy storage system that converts renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and releases heat continuously, on demand, according to customer needs. As the most experienced thermal battery developer on the market, Brennmiller 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 (https://bren-energy.com/) or follow the company on X (formerly Twitter) 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 other than statements of historical fact may be deemed forward-looking statements. For example, we have used forward-looking statements in this press release when discussing: our plans to expand the capabilities of our proprietary technology and develop CTES solutions for data center applications; our current commercial opportunity is valued at up to $500 million in potential sales; our expectation that minimal investments will be required to adapt our existing proprietary TES technology to meet data center demands; our ability to deliver cost-competitive, energy-efficient data center cooling solutions to the market; the ability of our bGen™ products to reduce strain on the data center grid and transform it into a flexible balancing asset; and the estimated increase in data center power demand through 2030. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “could,” “will,” “expect,” “believe,” “anticipate,” “intend,” “potential,” “estimate,” “continue” and similar words are intended to identify forward-looking statements. Readers are cautioned that certain important factors will affect our actual results and could cause those results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect our results include, but are not limited to, risks related to our planned levels of revenue and capital expenditures, the adequacy of our existing cash resources, demand for and market acceptance of our products, the impact of competitive products and pricing, product development, commercialization or technical issues, the success or failure of negotiations, trade, legal, social and economic risks, and political, economic and military instability in the Middle East, particularly Israel. Forward-looking statements contained or implied in this press release are subject to other risks and uncertainties. Many of these are beyond the Company's control, including those described in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 18, 2024, which is available on the SEC's website at www.sec.gov. The Company undertakes no obligation to update these statements to revise or change them after the date of this release, except as required by law.
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