Brenmiller Energy CEO says market opportunity ‘is large and accelerating’

Brenmiller Energy (BNRG) issued a letter from its CEO Avi Brenmiller, which read, in part, “As we close out 2025, I want to speak candidly about where Brenmiller Energy stands today, what we’ve accomplished, where we’ve fallen short, and how we are positioning the Company for a stronger 2026. First and foremost, we recognize the decline in our share price over the past year. We understand the frustration this creates, and we take responsibility for it. The disconnect between the long-term value we believe we are building and the Company’s current market valuation is not lost on us. Both our management and our Board of Directors are aligned with our shareholders and committed to acting decisively. With a significant portion of our compensation being equity-based, our management team’s success is directly tied to restoring and growing shareholder value. In response, we are actively evaluating adjustments to our strategy and operational focus, which we believe can drive clearer, faster results. This includes sharpening execution, prioritizing near-term revenue catalysts, and potentially expanding into highly synergistic, energy-related activities that we believe can accelerate scale, improve cash generation, and better reflect the full value of our technology platform…Key Milestones Ahead in 2026:The Tempo project is nearing completion and commissioning, which we view as a major milestone and a critical sales enabler, serving as a reference site for global industrial customers. Wolfson Medical Center is expected to begin construction soon, with project completion targeted by the end of 2026. The European Commission is launching a EUR 1B Innovation Fund auction focused on decarbonizing industrial heat-an area directly aligned with our technology and pipeline. Our Systems Purchase Agreement with Baran Energy is expected to generate milestone payments, profit sharing, and recurring service revenues as projects advance. We have a private placement agreement for up to $25M, providing a long-term institutional shareholder the right to provide us further financial resources to support execution and growth. As I see it, Brenmiller Energy is at a pivotal moment. We believe that the industrial energy landscape is shifting from ‘could we to ‘now we must.’ Industrial customers, policymakers, and capital providers are increasingly recognizing that decarbonizing heat, not just electricity, is essential. We are adjusting, we are focused, and we are committed. The foundation we have built is real. Our technology performs. The market opportunity is large and accelerating. And while challenges remain, we firmly believe that with disciplined execution, strategic flexibility, and the dedication of our team, we can convert this potential into tangible shareholder value.”