EU's investment bank invests in construction a plant for thermal energy storage systems in Dimona

The EU's investment bank EIB will provide NIS 30 million in financing to Brennmiller Energy for the construction of a plant for innovative thermal energy storage systems, which will be established near Dimona and will provide the city's residents with about 100 new jobs.
Funding for the new plant is made possible as a result of Israel's participation in the European Horizon 2020 Framework Program for the Advancement of Research and Innovation. The loan is supported by the European Commission as part of the financing of InnovFin Energy Demonstration Projects.
The European Investment Bank (EIB) and Bernmiller Energy, an Israeli company for industrial solutions for energy storage, have signed a financing agreement in the amount of NIS 30 million (approximately 7.5 million euros) to support the construction of the company's first plant in Dimona on a large scale to produce the bGen storage unit.
The loan will enable the company to commercialize the third generation of its heat storage systems and steam generator across Europe, North America and Africa, thus bridging the gap between renewable and conventional energy.
The transaction is supported by the InnovFin Energy Demonstration Project,
An accessible program for Israeli companies as part of Israel's participation in the Horizon 2020 program, the EU's flagship program for the promotion of research and innovation, Horizon 2020.
Burnmiller Energy's thermal energy storage system consists of three main elements: thermal energy storage, heat exchangers and steam generator, which are included in the same unit. This unit uses crushed rock as the storage material, thus ensuring high performance and low maintenance over time, as well as an environmentally friendly production cycle.
In addition, the technology can use multiple heat sources such as residual heat, biomass and electricity, using electric heaters embedded in it. In the same way, the storage unit is also very versatile in terms of energy discharge. It can provide energy in the form of steam, hot water, air or electricity.
Thermal energy storage is a cross-cutting technology that will contribute to a green and sustainable energy system by increasing the share of renewable energies, as well as adding operational flexibility to industrial processes; Possibility of heat recovery in industrial processes; And increasing energy efficiency in industrial processes and structures.
Avi Bernmiller, CEO of Bernmiller Energy: “Reducing emissions from industrial heating and central heating is one of the biggest challenges in the fight against climate change. I believe that our unique thermal storage technology will play a significant role in the integration of renewable energy in the industrial sector, thus enabling a deeper integration of renewable energy in the electricity grid.
Cooperation with the EIB is a key milestone towards the full commercialization of our technology. "EIB's support will enable our production lines to grow rapidly and enable us to meet the growing demand for our products."
Thomas Ostros, EIB's vice president in charge of energy: "More and more countries in Europe and around the world have pledged to increase green electricity production. Although this is a necessary move, renewable energy alone will not solve the climate problem. Energy storage will have to play an equally important role.
Only through reliable storage systems can we create a backup for renewable energy that is not continuously available, accelerate the decarbonization of the electricity grid and improve the security and efficiency of electricity transmission, while ensuring a higher security level of energy supply. The deal today supports a promising technology provider in this area, and I am pleased that the EIB can help this young and innovative company expand its production. "