This morning (Thursday, August 17), Brenmiller Energy’s management marked the TASE listing of the company’s shares by taking part in the Opening Bell ceremony. The company joins the cleantech sector, which today consists of seven companies involved in the alternative energy field, with a total market value of approx. NIS 13 billion.
Since the beginning of 2017, 14 new companies have joined TASE and have raised approx. NIS 2.7 billion in aggregate.
Avi Brenmiller, CEO and President of Brenmiller Energy: “The energy world is currently undergoing a real revolution. It is changing from conventional, fuel-based energy to renewable energy and from power stations that generate hundreds, and sometimes even thousands, of megawatts to small, decentralized power plants for electricity transmission and distribution. Energy storage using cheap and simple technology is an essential condition to bringing about this transition. Our company was established in order to make a technological and business contribution to accelerating this important transition, while striving to improve the availability of electricity and to reduce its price to the end-user. The company was also set up with the intention of establishing a significant cleantech sector in Israel, to be based on research, development and manufacturing, which would also contribute to promoting local economic growth”.
Hani Shitrit Bach, TASE SVP and Head of Economic Department: "The company has developed storage technology for home energy from a variety of sources that will be able to generate cheap and clean electricity day and night, through the use of green technologies, while preserving the environment, The company has raised approx. NIS 45 million, mostly from institutional investors, giving the company a post-money valuation of approx. NIS 200 million. Taking advantage of the unique “fast track” entrance, the company’s shares will join the TA Tech – Elite Index, and are also expected to join the following indices: the TA-Growth Index, the TA-All Share Index, the TA Technology Index, and the TA Global-Blue Tech Index. We wish the company much success in the future”.
Pictured: Avi Brenmiller, CEO and President of Brenmiller Energy, Brenmiller Energy’s management and TASE’s management
Photo credit: GUY ASSIAG, for no financial consideration.