Brenmiller sees opportunity in nuclear energy as solution for AI, data centers

In a shareholder update, CEO Avi Brenmiller said, “I want to take a moment to share meaningful updates from across our Company-developments that reflect both execution in the present and strategic positioning for the future. Most notably, that the European Hydrogen Bank has granted SolWinHy Cadiz in Arcos de la Frontera, Spain, EUR 25M in funding. SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group and Viridi to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller’s joint venture partners in Brenmiller Europe. We estimate our supply of the bGen TES system for the SolWinHy Project to be approximately EUR 7M. We believe that our involvement with the SolWinHy Project reinforces the strength of our bGen technology and our role in enabling renewable fuel production at scale. It’s a major milestone and a testament to the commercial scale of our thermal energy storage solutions. Looking ahead, we’re also preparing to accrue the next milestone in our project with Tempo Beverages in July 2025. This project represents a powerful application of our bGen system, delivering behind-the-meter energy savings in a commercial manufacturing environment. We believe the market will recognize the value of this milestone-not just for what it proves technically, but for what it unlocks strategically. Beyond this, we’re seeing a new opportunity emerge that could define the next phase of our growth: nuclear energy as the solution for AI and data centers that are expected to create a surge in energy demand. At the end of May, CNBC reported that some countries in Europe are beginning to re-embrace nuclear power as a means of boosting energy independence and decarbonizing at scale. Denmark is even rethinking its 40-year nuclear ban. This shift creates a unique opening for our technology. Nuclear reactors, while reliable for baseload generation, lack the flexibility to meet dynamic grid demands-precisely the gap our thermal storage was designed to fill. The U.S. is following suit. New executive orders from the Trump Administration have fast-tracked small modular reactors and aim to significantly reform the U.S. nuclear industry. That conviction was echoed again just days ago when Meta signed a 20-year agreement with Constellation Energy to purchase 1.1 gigawatts of nuclear power from the Clinton Clean Energy Center in Illinois. Without Meta’s commitment, the plant faced premature closure. Now, not only will the site remain operational, it will expand. This is more than a high-profile energy deal, we believe that it is an indication that nuclear power is being called upon to fuel the next generation of computing and AI infrastructure-but it can’t do it alone. It needs flexibility. It needs storage. It needs solutions like ours. We believe that our TES technology is uniquely suited to complement nuclear by enabling load-following capabilities, balancing output, and enhancing overall grid responsiveness. As the demand curve changes and data center operators push for 24/7 clean energy with real-time control, we believe our technology becomes not just valuable-but essential. Further, we believe our system, as configured for ENEL at its combined cycle power plant in Santa Barbara, Italy, is already a near-perfect fit for this application, positioning Brenmiller to be part of this nuclear resurgence. We also recognize the broader market environment remains volatile, especially for small-cap companies. We’re taking action accordingly: tightening costs, streamlining operations across our subsidiaries, and staying focused on efficiency. These moves aren’t just defensive-they’re strategic steps to strengthen our core and prepare for scalable growth. In parallel, we’re actively exploring near-term opportunities to enhance value creation-this includes unlocking potential licensing revenues with our IP portfolio. To those of you who’ve stayed with us: thank you. Your continued trust fuels our determination. We’re executing with clarity and focus-and the momentum building behind clean hydrogen, flexible nuclear applications, and on-site industrial energy savings only adds to our conviction.”