BrenX Announces Waiver from European Investment Bank and Advances Toward Debt Settlement in Support of Its BrenX Growth Strategy
July 24, 2026
BrenX Announces Waiver from European Investment Bank and Advances Toward Debt Settlement in Support of Its BrenX Growth Strategy
July 24, 2026 8:30 AM EDT | Source: BrenX Ltd.
Tel Aviv, Israel--(Newsfile Corp. - July 24, 2026) - BrenX Ltd. (formerly Brenmiller Energy Ltd.) (NASDAQ: BNRG) (the "Company", "BrenX", or "BrenX") a leading global provider of Thermal Energy Storage ("TES") solutions for industrial and utility customers, today announced that the European Investment Bank ("EIB") has executed a waiver to defer the Company's upcoming loan payment under the Company's March 2021 credit facility with the EIB and that the parties are advancing toward a full and final settlement of the existing loan facility — a significant step that, if completed, the Company expects would reduce its debt and strengthen its financial position as it executes the BrenX growth strategy. As part of the waiver, the EIB has agreed to temporarily waive certain rights arising solely from the Company's scheduled payment obligation with respect to an approximately €1.7 million loan payment due on July 28, 2026, with the waiver remaining in effect through September 15, 2026, unless earlier terminated or extended in accordance with its terms, thereby providing the Company with additional time to pursue a definitive settlement while preserving near-term liquidity, preserving near-term cash as the parties work toward a settlement designed to lower BrenX’s debt and free capital for growth.
The process builds on a long-standing relationship with the EIB, whose financing supported BrenX in establishing the world's first gigafactory dedicated to producing TES systems. This manufacturing platform created the industrial foundation for the Company's proprietary bGen™ technology and helped position BrenX to pursue the next stage of its development.
BrenX represents the Company's evolution from primarily manufacturing and selling TES systems into an integrated industrial energy developer and provider. Under the BrenX strategy, the Company intends to combine its proprietary bGen™ technology with renewable generation, energy management and complementary infrastructure to develop, own and optimize energy assets under long-term commercial structures.
As the Company's business model evolves, BrenX believes its capital structure should evolve with it. The ongoing process with the EIB is intended to give the Company a leaner balance sheet and greater financial flexibility to fund the BrenX model, which aims to generate long-term, recurring revenue. The Company also believes that the process will support a "Made in the EU" initiative, aimed at expanding European manufacturing, supply-chain and project execution capabilities as BrenX grows across the region.
The Company and the EIB are continuing to work constructively toward a definitive agreement. BrenX believes that successfully completing the process could materially strengthen its balance sheet and give it greater financial flexibility to execute the BrenX growth strategy. The discussions remain ongoing, and there can be no assurance regarding the timing, final terms or completion of any definitive arrangement.
BrenX (NASDAQ: BNRG) is a leading clean energy company powered by proprietary TES technology. Through its patented bGen™ technology and BrenX infrastructure initiative, BrenX is evolving from thermal energy storage into integrated clean heat-and-power solutions designed to help industrial and utility customers reduce emissions, improve energy economics, enhance resilience, and accelerate the transition away from fossil fuel-based energy systems. For more information, visit the Company's website at https://bren-energy.com/.
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements when discussing: the expected execution of definitive transaction documents and completion of the proposed purchase of land and related photovoltaic infrastructure assets in Hungary; the anticipated development and expansion of the Hungary site; potential future renewable energy, battery energy storage, TES and digital infrastructure opportunities; the expected benefits of the BrenX strategy; the Company's ability to generate recurring revenue from the project; the Company's objective to assemble industrial energy platforms that expand over time, integrate complementary technologies, and create opportunities for additional value creation as market opportunities develop; the potential replication of the BrenX model across Europe to build a differentiated portfolio of strategic energy infrastructure; and the Company's future growth, plans, expectations and strategic objectives. The Term Sheet described above is not a definitive agreement, the parties may not ultimately reach agreement on definitive agreements and the purchase of the land parcel and related photovoltaic infrastructure assets located next to the Company's recently purchased operating solar facility in Kaposszekcső, Hungary may not occur. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission ("SEC") on March 25, 2026, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.