Brenmiller Energy loses 15% on Nasdaq debut
Israeli thermal electrical power storage company Brenmiller Vitality (TASE: BNRG, Nasdaq: BNRG) saw its share price tag drop 15% to $4.40, on its very first day of investing on Wall Street, giving a market cap of $56.2 million. Prior to buying and selling yesterday, Brenmiller Electricity lifted $15 million from buyers in a private placement.

Brenmiller Energy chairman and CEO Avi Brenmiller reported, “Brenmiller Energy’s listing on Nasdaq is a big milestone in the company’s background and signifies an additional move forward in our company’s exertion to supply utilities and industrial providers the thermal electrical power storage methods they require to recognize their electrification and de-carbonization plans. Our new listing on Nasdaq will aid us greater teach the world wide investment local community about our ground breaking thermal storage de-carbonization technology, though at the similar time creating it simpler for us to accessibility any cash we could need to have to aid us continue to grow our organization.”




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Brenmiller Strength data files for Nasdaq IPO







Brenmiller’s patented technology shops warmth at higher temperatures applying crushed rocks and gives cleanse and sustainable thermal electricity for utilities and industrial plants.

Brenmiller is at the moment working to deploy its TES alternative with some of the greatest industrial and utility shoppers globally, including Philip Morris Intercontinental, Enel (Italy), Fortlev (Brazil), and the Israeli Protection Forces.

Avi Brenmiller, who established the company in 2012, earlier established and managed Solel, which was marketed to Siemens. Avi Brenmiller himself held a 36.4% stake in the organization right before the Nasdaq IPO and Israeli businessman Rani Zim experienced a 15.1% stake. Neither sold any shares in the Wall Road featuring.

In 2021, Brenmiller described profits of $395,000 and a internet loss of $10.3 million, in comparison with a reduction of $9.5 million in 2020.

Sullivan & Worcester LLP acted as Brenmiller Energy’s US legal counsel and Shibolet & Co. acted as Brenmiller Energy’s Israeli lawful counsel in planning for the Nasdaq listing.

Released by Globes, Israel enterprise news – en.globes.co.il – on Could 26, 2022.

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