Brenmiller Energy Ltd (BNRG) shares soared after the company reported its first-half financial results, released after the market closed on Thursday. The company announced it is exploring ways to expand its capabilities to deliver cold thermal energy storage (CTES) for artificial intelligence (AI) data centers, a move that has investors excited.
The company’s first-half results showed losses per share of 45 cents, a significant improvement compared to losses of $3.02 per share in the same period last year. Brenmiller Energy’s CEO, Avi Brenmiller, stated that the company sees a significant opportunity in the rapidly growing AI computing market, particularly in providing sustainable solutions for data centers. He highlighted the company’s bGenTM thermal battery, which is already in use for providing on-demand access to sustainable heat, and explained how it can be adapted to meet the needs of data center applications.
Brenmiller Energy has built a project pipeline, potentially worth up to $500 million, demonstrating its confidence in this new market opportunity. The company’s shares surged in after-hours trading, with volume exceeding ten times its average daily level, indicating significant investor interest.
The company’s move into the AI data center market is a strategic one. As AI applications continue to proliferate and require significant computing power, the demand for energy-efficient solutions is growing. CTES technology can play a crucial role in addressing this need, offering a sustainable and cost-effective approach to cooling data centers. Brenmiller Energy’s focus on adapting its existing technology to meet this growing market demand positions the company for potential future growth.
