Brenmiller Energy Comments on Reverse Share Split Ahead of Expected Near-Term Milestones

Miami Herald

18-06-2025

ROSH HA'AYIN, IL / ACCESS Newswire / June 18, 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, today issued a letter from its Chief Executive Officer, Avi Brenmiller.
To Our Shareholders,
As previously announced, today at the close of trading on the Nasdaq Capital Market, Brenmiller Energy will implement a reverse share split-a strategic and proactive decision made to protect and preserve shareholder value as we approach a critical period of execution on our business objectives.
This decision followed extensive internal consideration about the timing and impact of a reverse share split. Ultimately, we determined that the best course of action was to be decisive today, which will allow us to remain focused on what matters most in the days ahead: delivering on our milestones.
The value that Brenmiller Energy has built is evident:
More than a decade of TES innovation and $118 million in investments have led to deployments across Europe, the U.S., and the Middle EastCommissioning and building over 100 MWh of projectsA $500 million pipeline of commercial opportunities4GWh of manufacturing capacity
Let us be clear: a reverse split changes the number of shares outstanding, but it does not impact your ownership.
All shareholders-including insiders-are impacted equally by this reverse split. That's not incidental. It's intentional. We are all in this together. Our Company's founders and management, including myself, continue to have significant holdings in Brenmiller Energy. Investors can be assured that all of our interests are aligned.
As we are aiming to move towards key implementation milestones for commercial deployment in the near-term, with funding commitments for projects within our existing portfolio, and strategic collaborations-we believe that these future achievements will translate into tangible value for shareholders.
We're not waiting for the market to understand what we've built. We are aiming to make it impossible to ignore.
As we've shared throughout 2025, we believe that Brenmiller Energy has entered a new phase-one defined by acceleration. Our recent progress with TES projects including Tempo Beverages in Israel and SolWinHy in Spain makes that clear: we believe we are on the verge of a breakout moment with a robust global commercial pipeline and technology that's already proven in the field.
The result? Real operating momentum that we believe will spark interest in our technology-and a reappraisal of the value it truly deserves.
We thank you for standing with us, and we invite you to stay close. We believe that the weeks ahead won't just validate our vision-they'll define it.
Sincerely,
Avi BrenmillerCEO, Brenmiller Energy Ltd.
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 when it discusses: expected near-term milestones; the timing for implementing a reverse share split; its protecting and preserving shareholder value as the Company approaches a critical period of execution its business objectives;; the Company's future commercial deployment milestones, funding commitments for projects within its existing portfolio, and strategic collaborations and that such future achievements will translate into tangible value for shareholders; future interest in the Company's technology and a reappraisal of its value; and the Company's $500 million pipeline of commercial opportunities. 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 important 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 U.S. Securities and Exchange Commission ("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.
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SOURCE: Brenmiller Energy