Brenmiller Energy Ltd. today filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission. The company reported a net loss of $6.77 million for 2024, which narrowed by 30% compared to the $9.65 million loss in 2023, primarily due to a $3.79 million increase in net financial income.
The company's global pipeline of commercial opportunities reached over $500 million, up from $440 million previously reported, encompassing over 70 projects. Brenmiller's gigafactory, at full capacity, is expected to produce $200 million worth of bGen™ systems annually, supporting this growing pipeline.
Operating cash flow remained negative at $9.51 million in 2024, but the company saw a net increase of $0.92 million in cash and cash equivalents, reaching $4.13 million, primarily from $10.94 million in net proceeds from equity issuances. Working capital improved to $3.51 million in 2024 from $1.85 million in 2023.
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