Brenmiller Energy Ltd. announced it has signed a non-binding Memorandum of Understanding ("MOU") with SolWinHy Cadiz S.L, a special purpose company jointly owned by two European developers of green energy projects, Green Enesys Group and Viridi RE, to develop new-build hydrogen and e-methanol projects. Brenmiller's bGen is to provide clean steam production and energy storage for SolWinHy Cadiz in Arcos de la Frontera, Spain (the "SolWinHy Project"). This agreement follows a previously executed non-binding memorandum of understanding in September 2022 which outlined plans to mutually conduct feasibility studies for integration of bGen into several new-build green hydrogen and e-meth ethanol production facilities planned to be constructed in Europe.

The SolWinHy Project's aim is to contribute to the decarbonization of the European Union's industrial, power generation and transportation sectors. Green e-methanol, a clean energy source, is produced from hydrogen that is sourced from renewable electricity and captured biogenic carbon dioxide. The SolWinHy Project is being designed to produce over 29,000 tons of green e-methanol per year and will incorporate 54 MW of wind and 165 MWp of photovoltaic electricity production disconnected from the electrical grid, generating power exclusively from renewable energy with no impact on Spain's national grid.

The SolWinHy Project are expected to integrate bGen thermal energy storage capabilities with a capacity of at least 55 MWh. Under the terms of the MOU, Brenmiller and SoWinHy Cadiz S. Ltd. will together finalize the front-end engineering and design phase, integrating bGen into the SolWinHy Project, as well other potential new projects, as necessary. A final investment decision for the project is expected by the third quarter of 2024.