As European Gas Prices Double, Brenmiller Energy Accelerates Clean Heat Strategy

Brenmiller accelerates BNRG360 platform to deliver bundled power and heat to industrial customers, in response to fossil fuel market volatility

Tel Aviv, Israel--(Newsfile Corp. - March 10, 2026) - Brenmiller Energy Ltd. (NASDAQ:BNRG) ("Brenmiller", "Brenmiller Energy" or the "Company"), a leading provider of thermal energy storage ("TES") solutions for industrial and utility applications, today announced the acceleration of its BNRG360 platform to deliver bundled power and heat to industrial customers.

European natural gas prices have surged past €60 per megawatt-hour, more than doubling in two weeks as the Middle East conflict disrupts global energy supply routes. With Qatar's largest LNG export facility shut down and tanker traffic through the Strait of Hormuz at a near standstill, industrial operators across the European Union ("EU") are facing renewed pressure on energy costs and supply security.

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Against this backdrop, Brenmiller Energy, a TES company focused on industrial electrification, is accelerating its BNRG360 integrated energy strategy as part of the Company's broader plan to expand from heat supply to bundled solutions, combining heat and electricity and to deliver integrated energy services to industrial customers using renewable generation and storage solutions.

The current crisis marks the second major gas supply shock to hit Europe in three years, following Russia's 2022 invasion of Ukraine. European industries, which pay two to three times more for energy than their American competitors according to the European Steel Association (EUROFER), and up to five times more for natural gas, face a structural challenge that temporary supply fixes cannot resolve. EU underground gas storage currently sits at around 30% of capacity, and initiatives to decouple the EU from imported fossil fuels have gained renewed urgency.

Brenmiller's approach potentially offers an alternative path. The Company's BNRG360 platform aims to provide a comprehensive suite of solutions built around its patented bGen TES system, integrating renewable generation and battery storage to enable industrial clients to access clean, affordable energy shielded from fossil fuel price swings. Rather than purchasing volatile fossil fuels, industrial operators will be able to receive electricity, heat and steam as a service under long-term agreements.

The structure is designed to potentially generate diversified revenue streams, including power purchase agreements, grid balancing services and direct industrial offtake. Brenmiller intends for this approach, combining ownership of generation assets with long-term industrial offtake agreements, to serve as a replicable model across additional European markets.

"We believe that the EU has an alternative to fossil fuel dependency, and the technology exists today to implement it," said Avi Brenmiller, Chief Executive Officer and Co-Founder of Brenmiller Energy. "We can take abundant renewable resources like solar, combine them with storage technologies, with the aim of producing an energy supply that is cleaner, cheaper and permanently hedged against price shocks. The current crisis could be a catalyst for industrial operators and policymakers to invest in this transition, not a reason to double down on the same vulnerable supply chains."

The shift is already underway. Between 2019 and 2024, EU countries installed enough wind and solar capacity to avoid burning 92 billion cubic meters of gas and 55 million tons of coal, according to energy think tank Agora Energiewende. Despite this progress, the EU remains exposed to supply disruptions, as the current conflict has demonstrated.

Brenmiller Energy's bGen system stores electricity as heat in crushed rocks, which can then be dispatched as steam, hot water, or hot air on demand. The technology has been tested for more than a decade and is deployed at industrial sites, including a large-scale boiler replacement project for Tempo Beverages Ltd., in Israel, currently in commissioning.

About Brenmiller Energy

Brenmiller Energy Ltd. (NASDAQ:BNRG) is a clean energy technology company focused on delivering industrial-scale renewable power and heat solutions. The company's patented bGen thermal energy storage technology provides dispatchable, flexible and cost-competitive energy solutions that help industrial customers and grid operators decouple from fossil fuel volatility. Through its BNRG360 platform, Brenmiller delivers bundled energy services combining renewable power generation, thermal energy storage and energy management under long-term service agreements.

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 discussing: acceleration of the BNRG360 platform to deliver bundled power and heat to industrial customers, expansion from heat supply to bundled heat and electricity solutions, that BNRG360 platform aims to integrate renewable generation and storage technologies, that industrial customers will be able to receive electricity, heat and steam as a service under long-term agreements, that the BNRG360 structure is designed to potentially generate diversified revenue streams, that the Company intends to replicate this model across additional European markets, that the Company's technology will produce cleaner, cheaper energy hedged against price shocks, and that the current energy crisis could accelerate industrial and policy investment in energy transition. 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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