Key Highlights

• BrenX's bGen thermal energy storage system delivered approximately 40% lower steam energy costs at Tempo Beverages compared to a modeled heavy fuel oil baseline.

• The company estimates potential annual energy cost savings of approximately US$1.0 million for Tempo, or US$15 million over 15 years if current performance is sustained.

• During a five-day operating period in October 2026, estimated net savings reached approximately US$18,200, averaging US$3,640 per operating day.

• The bGen system has reached steam production of approximately 85 tons per operating day, exceeding the project's base case of approximately 70 tons.

BrenX Ltd.(NASDAQ:BRNX), a provider of thermal energy storage and integrated industrial energy solutions, on November 4, 2026, reported preliminary results from its 32 MWh bGen thermal energy storage system installed at Tempo Beverages in Israel. The early operating data indicates that the system is supplying steam at approximately 40% lower energy cost than a modeled heavy fuel oil steam baseline.

Preliminary Operating Results From Tempo

During five operating days from October 25 to 29, 2026, BrenX estimates that the bGen system generated net energy cost savings of approximately US$18,200 for Tempo, averaging about US$3,640 per operating day compared to the heavy fuel oil baseline model. If savings at this level are sustained under comparable operating and energy-pricing conditions, BrenX estimates that Tempo could realize approximately US$1.0 million in annual energy cost savings, based on an assumption of 280 operating days per year and net of annual maintenance costs. Over a 15-year period, that figure would total approximately US$15 million on an undiscounted basis.

The company noted that these figures are preliminary working estimates based on a limited five-day operating window. They have not been certified, and the underlying cost comparison and longer-term calculations remain subject to validation. The bGen system at Tempo reached steam production of approximately 85 tons per operating day during commissioning, exceeding the project's base case target of approximately 70 tons per operating day. Commissioning at the Tempo site remains ongoing.

Energy Services Model and Market Opportunity

For Tempo, the potential benefit lies in lower steam energy costs over an extended period. For BrenX, the preliminary results serve as a reference point as the company pursues additional industrial customers in Israel and Europe. European markets, where Natural Gas prices remain elevated, present particular opportunities for BrenX's energy services approach, as industrial companies face mounting pressure to reduce fossil fuel dependence and lower operating costs.

BrenX's strategy centers on developing, owning, operating, and optimizing energy Assets that can combine local generation, electrical and thermal storage, grid connectivity, and intelligent energy management tailored to customer requirements. The company believes that demonstrating sustained customer savings at Tempo could support broader adoption of this energy services model and help build Recurring Revenue from industrial energy services contracts.

Important Caveats on the Data

The company emphasized several important qualifications around the savings estimates. The figures are based on a short operating window and may not be representative of sustained operations over longer periods. Realized savings will depend on a range of factors, including steam demand, operating hours, electricity tariffs, fossil fuel price fluctuations, and ongoing system performance. The annual savings figure assumes 280 operating days per year, while the 15-year projection simply extends the annual estimate without applying a discount rate.

Additionally, the savings accrue to Tempo as the customer, and the press release does not provide any forecast of BrenX revenue or profit from the arrangement. U.S. dollar amounts were converted from New Israeli Shekels at the Bank of Israel representative rate of NIS 3.157 per US$1.00 as of November 3, 2026.

What This Means for BrenX

The preliminary data from Tempo represents an early operational milestone for BrenX's bGen thermal energy storage technology in a commercial industrial setting. The company's next steps involve validating operating and cost assumptions over longer periods and demonstrating that the early performance levels can be sustained. Success at Tempo could open the door to additional customer relationships in markets where fossil fuel replacement in industrial processes carries both economic and regulatory incentives.