Brenmiller Energy Ltd, a NASDAQ-listed clean energy company, announced this week that it has signed a Memorandum of Understanding (MoU) with Waaree Energies Ltd, India’s largest manufacturer of solar panels, to implement its bGen thermal energy storage systems (TES) in India.
Brenmiller Energy provides thermal energy storage systems to the global industrial and utility market. Its MoU with Waaree marks Brenmiller’s entry into the Indian market, adding to the company’s growing global presence including Israel, Europe, and the U.S.
Under the terms of the MoU, Brenmiller and Waaree will jointly explore, develop, and deploy solar-powered TES systems in India, subject to entry into a definitive agreement.
Brenmiller’s patented bGen thermal storage technology enables the use of renewable energy resources, as well as waste heat, to heat crushed rocks to very high temperatures. They can then store this heat for minutes, hours, or even days before using it for industrial and power generation processes.
“We’ve seen a massive uptick in demand for our TES systems in response to climate-forward policies, rising energy costs, and challenges to reliability,” said Avi Brenmiller, president and Chief Executive Officer of Brenmiller. “Our team is thrilled to collaborate with Waaree to bring bGen TES to India’s industrial and utility markets.”
“In India, steam and other high-temperature processes for industrials are primarily powered by coal, accounting for roughly 25% of India’s carbon emissions,” said Hitech Doshi, chairman of Waaree. “We are focused on helping large industrial corporations, including beverage, pharmaceutical, chemical, paper manufacturers, and more, to help them meet ambitious ESG goals. Partnering with Brenmiller to deploy its innovative thermal energy storage technology will enable us to significantly reduce dependence on fossil fuels.”
Pearlini Wathore, Trade Officer
Ministry of Economy and Industry, Israel