Munich, October 30, 2024:
Entelios AG, a leading provider of flexibility services in Germany, has signed a Letter of Intent (LOI) with Brenmiller Energy Ltd. (Nasdaq: BNRG) and its joint venture Brenmiller Europe S.L. Together, Brenmiller Energy, Brenmiller Europe, and Entelios are committed to sustainable energy solutions in the German industrial sector, whose market potential is estimated at $2.9 billion.
The goal of the partnership is the joint development of business models to optimize the bGen™ system – a high-temperature thermal energy storage system that converts renewable electricity into heat, stores it, and releases it on demand as hot water, steam, or hot air. This creates stable conditions for continuous 24/7 operation. The collaboration focuses on significantly reducing CO2 emissions by switching from natural gas to electricity at industrial sites.
Entelios brings its expertise in flexibility trading across all relevant short-term markets, including short-term trading on EPEX Spot and in the balancing reserve markets, to the partnership. The company also supports the aggregation of complex, decentralized plants. With over 14 years of experience in the German energy market, Entelios manages more than 1 GW of flexibility from industrial loads, power plants, and large battery energy storage systems (BESS). The company maximizes its customers’ revenues through advanced flexibility management, sustainable energy solutions, and cross-market optimization of all relevant flexibility markets. These services are crucial for industrial customers and investors in large battery storage systems to efficiently utilize flexibility, increase operational efficiency, and integrate renewable energies.
“We are excited to work with Brenmiller to support industrial sites in Germany in electrifying their heat generation and thus reducing their CO2 emissions,” says Fabian Becker, CEO of Entelios. “Our goal is to provide comprehensive flexibility management services for Brenmiller Europe’s customers, including strategic energy procurement, algorithmic energy trading, and efficient provision of system services. This collaboration not only benefits our customers but also contributes to the increased integration of renewable energies, improves security of supply, and supports the long-term development of a sustainable energy system.”
Avi Brenmiller, Chairman and CEO of Brenmiller Energy, adds: “Our expertise in TES technologies is unmatched. We have built, installed, and maintained more industrial TES systems than any other company in the industry. Entelios complements our strengths through its innovative approach that combines advanced software, data management, AI, and deep insights into energy markets. This collaboration will optimize our customers’ energy costs and create new revenue streams.”
The cooperation aims to fully exploit the market potential in the field of electric thermal energy storage in Germany by 2030 and beyond. Entelios will use its expertise in flexibility management to open up new markets and areas of application through innovative technologies while contributing to the decarbonization of the industrial sector.
About Brenmiller Energy Ltd.
Brenmiller Energy helps energy-intensive industries and energy producers end their dependence on fossil fuel boilers. Brenmiller’s patented bGen™ thermal battery is a modular and scalable energy storage system that converts renewable electricity into emission-free heat. It charges by utilizing low-cost renewable electricity and provides continuous heat supply on demand and according to its customers’ needs. As the most experienced developer of thermal batteries in the market, Brenmiller operates the world’s only gigafactory for the production of thermal batteries and enjoys the trust of leading multinational energy companies. More information can be found on the company’s website at https://bren-energy.com.
About Entelios AG
Founded in 2010, Entelios is a European pioneer in industrial demand response services with extensive experience in flexibility optimization for complex facilities in balancing reserve markets and intraday trading. Using proprietary systems, Entelios maximizes its customers’ revenues by trading flexibilities on all relevant short-term markets and intelligently shifting capacities between FCR, aFRR, and intraday markets. Individual consulting and identification of flexibility potentials play a crucial role at Entelios. As a comprehensive service provider for balancing reserve markets, we support our customers at every step of the prequalification process and ensure security through our balancing reserve pools.
Press contact Entelios AG:
Benjamin Dausch
Marketing & Sales Manager
benjamin.dausch@entelios.de
www.entelios.de
