Brenmiller Energy files for Nasdaq IPO

• Author: Shiri Habib-Valdhorn
• Published date: 25 April 2022
• Publication title: Globes (Rishon LeZion, Israel)

Brenmiller Energy operates in the thermal energy storage sector based on technology developed by chairman and CEO Avi Brenmiller, who founded the company in 2012, after previously founding and managing Solel, which was sold to Siemens

Brenmiller Energy is traded on the TASE at a market cap of NIS 232 million, tens of percentage points below its IPO valuation in 2017. The fall in its market cap stems, among other things, from uncertainty regarding its ability to generate revenue and meet the financing terms extended to it by Bank Leumi (TASE:LUMI). At the end of 2020, Brenmiller Energy's market cap peaked at NIS 555 million but has since more than halved.

According to the prospectus filed with the SEC, Brenmiller Energy will list on Nasdaq without raising any capital although some of its shareholders may sell shares as part of the offering...