24/7 Market News Snapshot 09 September, 2024 – Brenmiller Energy Ltd Ordinary Shares (NASDAQ:BNRG)

September 9, 2024

DENVER, Colo., 09 September, 2024 (247marketnews.com) – (NASDAQ:BNRG) are discussed in this article.
Brenmiller Energy Ltd. is experiencing a notable surge in its ordinary shares (BNRG), currently trading at $1.397, which marks a striking 47.05% increase from the previous close of $0.950. This impressive pre-market rally, supported by a trading volume of 1.84 million shares, reflects heightened investor interest and confidence in the company’s growth trajectory. Positive market sentiment may be linked to recent strategic advancements and anticipated announcements that have captured investors’ attention, as BNRG successfully breaks through critical resistance levels.

In tandem with this upward stock performance, Brenmiller has made significant strides in its operational and financial strategies as a leading provider of thermal energy storage solutions. Recently, the company raised approximately $2.0 million in gross proceeds through its existing At-the-Market equity offering, bringing the total gross proceeds for the year to about $10.8 million. This move has increased the number of issued shares to over 7 million.

Further enhancing its financial position, Brenmiller signed a definitive agreement for a private placement of 1,000,000 ordinary shares, securing an additional $1.05 million investment at a substantial premium over current market prices. These financial maneuvers reflect the company’s commitment to pursuing innovative financing strategies while focusing on converting its growing commercial opportunity pipeline into viable projects, particularly under its Heat-as-a-Service (HaaS) model.

Chairman and Chief Executive Officer Avi Brenmiller emphasized the company’s proactive approach to expanding its HaaS pipeline and highlighted recent collaborations, such as the agreement with Partner in Pet Food, as pivotal to its strategy. Notably, these projects are largely funded through third-party financing, which mitigates the need for substantial capital outlay from Brenmiller.

With its advanced bGen™ thermal energy storage system leading the charge towards sustainable industrial processes, Brenmiller Energy is poised to play a crucial role in transitioning to zero-emission heat while capturing recurring revenue streams in the energy market. The company remains dedicated to delivering stakeholder value and operational excellence amidst a dynamic energy landscape.

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