Generating industrial heat produces about 10% of global greenhouse gas emissions—more than all the world's cars, planes, and ships combined. Yet, the focus on decarbonizing industrial processes like steel, cement, and glass production has often overlooked the heat itself. Brenmiller Energy Ltd. (NASDAQ: BNRG) is aiming to fill that gap with its thermal energy storage (TES) technology, the bGen platform, which uses crushed volcanic rock to store renewable electricity as high-temperature heat for on-demand industrial use.
Traditional approaches to greening industrial heat, such as full electrification, face hurdles including grid capacity constraints, high electricity costs, and difficulty reaching ultra-high temperatures consistently. Meanwhile, burning fossil fuels like coal and natural gas remains common, contributing to environmental damage. Brenmiller's TES system offers an alternative: a solid-state heat battery that charges when electricity prices are low and discharges zero-emission steam, hot water, or air as needed. By using abundant rock instead of critical battery metals, the system avoids supply chain issues and cost volatility.
To reduce upfront costs for customers, Brenmiller introduced BNRG360, an energy-as-a-service model where the company develops, owns, and operates the clean energy systems. This shift from equipment supplier to integrated energy infrastructure provider allows industrial customers to adopt TES without significant capital investment, paying instead through long-term service agreements. Brenmiller believes this model will generate recurring revenues, deepen customer relationships, and capture greater long-term value as the installed base of operating projects grows.
The need for thermal energy storage is expected to grow into a multi-billion-dollar industry, driven by rising electricity consumption, industrial electrification, grid modernization, increasing renewable energy penetration, and energy security concerns. Additionally, the expansion of artificial intelligence and data centers is placing new demands on electrical infrastructure, further boosting the need for flexible energy systems. The TES market is forecast to grow at a CAGR of 10% through 2032, reaching nearly $14 billion.
Brenmiller is already proving its technology in real-world settings. A key project with Tempo Beverages Ltd. involves a 32-megawatt-hour TES installation that supplies continuous industrial process steam, fully replacing a fossil fuel boiler. The system, which began delivering steam in June, is expected to eliminate approximately 6,200 tons of CO₂ emissions annually. Brenmiller says Tempo will serve as a blueprint for future industrial decarbonization deployments, demonstrating the scalability of the bGen platform under real operating conditions. The company is also in discussions with other companies about similar projects.
Looking ahead, Brenmiller is focused on growth, cash flow, and sustainable profitability. With more customers expected to join the BNRG360 platform and additional project commissionings on the horizon, the company is positioning itself to help industries decarbonize while capturing value from the transition. As the industrial sector seeks alternatives to fossil fuels, thermal energy storage could play a critical role, and Brenmiller aims to be at the forefront.
