ROSH HAAYIN, Israel – Brenmiller Energy Ltd. (NASDAQ:BNRG) reported $387,000 in revenue for 2025, marking its first recognized revenue from a thermal energy storage system sale, according to a press release statement issued today.
The revenue came from the company’s bGen installation with Enel in Italy. Brenmiller posted no revenue in 2024.
The company completed construction of its 32 MWh thermal energy storage project at Tempo Beverages Ltd. in early 2026. The system is designed to replace fossil fuel boiler-based steam production at the Israeli beverage manufacturer.
Brenmiller projects approximately $1.7 million in revenue for 2026 tied to execution milestones related to the Tempo project.
The company reported a net loss of approximately $13.9 million for 2025, compared to approximately $6.8 million in 2024. The increased loss was attributed to higher operating losses and a shift from net financial income in 2024 to net financial expenses in 2025. Operating loss for 2025 was approximately $12.7 million, compared to approximately $10.6 million in 2024.The mounting losses have weighed heavily on the stock, which trades at just $0.73 with a market capitalization of $1.67 million. Shares have plunged 98.6% over the past year, though InvestingPro analysis suggests the stock may be undervalued at current levels. The platform’s Financial Health score rates the company as “WEAK,” reflecting challenges including negative gross profit margins of -528% in the last twelve months.
Cash, cash equivalents and restricted deposits totaled approximately $4.9 million as of December 31, 2025, compared to approximately $4.1 million a year earlier. An InvestingPro tip notes the company is quickly burning through cash, a concern for investors monitoring the firm’s ability to fund operations. The current ratio stands at 1.3, providing limited liquidity cushion. InvestingPro subscribers have access to 17 additional tips and comprehensive financial metrics for BNRG.
In January 2026, Brenmiller launched BNRG360, a platform combining thermal energy storage, solar photovoltaic and battery energy storage systems. The company signed a System Purchase Agreement with Baran Energy in 2025 covering the Tempo and Wolfson Hospital projects, structured to include milestone-based payments and profit sharing.
The company has deployed 103 MWh in cumulative projects. Brenmiller also filed its 2025 annual report on Form 20-F with the U.S. Securities and Exchange Commission.
In other recent news, Brenmiller Energy Ltd. has completed construction of its thermal energy storage project at Tempo Beverages Ltd. and has begun the commissioning phase. The project is significant as it transitions 100% of the facility’s steam production to Brenmiller’s thermal energy storage system, marking a shift from fossil fuel boilers to a Heat-as-a-Service model. Additionally, Brenmiller Energy announced the completion of electrical works at the Tempo site, enabling the full electrification of the thermal energy storage system. This includes the installation of cabling, transmission infrastructure, switching equipment, and heating components.
In response to the European gas crisis, Brenmiller Energy is accelerating its BNRG360 platform to deliver bundled power and heat to industrial customers. The surge in European natural gas prices, exacerbated by Middle East conflicts, has prompted this strategic move. Brenmiller Energy also announced a Special General Meeting of Shareholders scheduled for March 31, 2026. Shareholders of record as of March 19, 2026, will be entitled to vote on matters detailed in the Notice of Meeting and Proxy Statement.
