IEA finds substantial cost-effective potential to electrify almost 40% of fossil fuel-based low- and medium-temperature industrial heat and identifies dairy and food processing among the applications well suited to electrification

Rosh HaAyin, Israel--(Newsfile Corp. - September 23, 2026) - BrenX Ltd. (NASDAQ: BRNX) (the "Company" or "BrenX"), a provider of thermal energy storage ("TES") and integrated industrial energy solutions, today commented on the International Energy Agency's ("IEA") Special Report on Electrification, released on September 22, 2026. The report identifies thermal storage as an "increasingly promising solution" for electrifying industrial heat, the market that BrenX serves with its bGen™ TES technology.

The IEA notes that, on average, electricity is not yet priced competitively with fossil fuels in most markets for higher-temperature industrial heat. However, it also finds that "electricity systems with high proportions of renewables are increasingly providing very low-priced wholesale electricity during certain periods," and that tapping into this flexibility where technically feasible "could change the economics of electrification." The report adds: "Thermal storage is also an increasingly promising solution: it can be used at a wide range of temperatures."

Additional findings from the IEA report include:

• Industry accounts for nearly 40% of global final energy consumption, and electricity meets only 28% of industrial energy use. The IEA finds substantial cost-effective potential to electrify almost 40% of fossil fuel-based low- and medium-temperature heat in industry, based on today's technology costs, energy prices and financial conditions.
• Applications such as dairy production, food processing and textiles, which require hot water, low-pressure steam and heat for drying, are described as well suited to electrification.
• The IEA warns that grids "risk becoming a central constraint on how far and how fast electrification can proceed," noting that industrial equipment, data centers and other new loads need timely connections and sufficient local network capacity.

BrenX's bGen™ technology is designed for this use. It converts electricity into high-temperature heat, stores it, and delivers steam or hot water when a facility's production requires it. This can allow industrial customers to charge the system during the low-priced periods the IEA describes and draw on the stored heat as their processes require, which can also help ease the load that new electric heat places on constrained local grids.

BrenX's projects include applications relevant to the industrial electrification trends highlighted by the IEA:

• Food and beverage: The Company's 32 MWh bGen™ system at Tempo Beverages Ltd. ("Tempo") in Israel has been assembled and integrated with the customer's production facility and is producing steam as part of the commissioning process.
• Institutional steam: At Wolfson Medical Center in Israel, BrenX has received its construction permit and commenced on-site work on a 12 MWh bGen™ system designed to replace the hospital's fuel-oil boilers and provide steam and hot water.
• Integrated energy infrastructure: In Hungary, BrenX owns an operating 1.2 MWp photovoltaic facility at the site of its planned first integrated energy resource center. Current plans contemplate expansion of the site to include up to 20 MW of solar generation, 6 MWh of battery energy storage and 12.5 MWh of thermal energy storage.
• Earlier deployments: Earlier deployments include a 24 MWh system with Enel in Italy and a bGen™ installation with the New York Power Authority at SUNY Purchase College in the United States.

"The IEA's findings describe the market we have been building BrenX to serve," said Doron Brenmiller, Chief Business Officer of BrenX. "Industrial companies need heat and steam on their own schedule, while the cost and availability of electricity vary through the day. Thermal storage can allow a facility to electrify its heat and buy power during periods when electricity prices are more favorable. With our system producing steam at Tempo, construction underway at Wolfson Medical Center and our energy platform in Hungary moving forward, our focus and aim is on turning this opportunity into operating projects and recurring revenue."

About BrenX Ltd.

BrenX provides thermal energy storage and integrated industrial energy solutions. Building on its proprietary bGen™ thermal energy storage technology, the Company is expanding its strategy to develop, own, operate and optimize energy assets that may combine local generation, electrical and thermal storage, grid connectivity, and intelligent energy management around customer needs. BrenX is headquartered in Rosh Ha'Ayin, Israel. For more information, visit www.bren-x.com.

Forward-Looking Statements

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 potential benefits of bGen™ for industrial customers, including the ability to use electricity during lower-priced periods and to help manage loads on local grids; the completion of commissioning of the Tempo project; the construction, completion and operation of the Wolfson Medical Center project; the planned development and expansion of the Company's integrated energy resource center in Hungary, including the contemplated addition of solar generation, battery energy storage and thermal energy storage; and the Company's ability and aim to develop and complete operating projects, generate recurring revenue and execute its expanded strategy. Without limiting the generality of the foregoing, words such as "plan," "potential," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate," "seek," "target," "aim" or "continue" are intended to identify forward-looking statements. The findings, projections and scenarios described in the IEA report are those of the IEA, are based on the IEA's own assumptions and methodologies, and are not guarantees of future market conditions.

Readers are cautioned that actual results may differ materially from those expressed or implied by forward-looking statements. Factors that may affect the Company's results include, among others, the Company's ability to complete, commission and operate its projects as planned; construction, integration, performance and customer acceptance risks; the Company's liquidity, capital requirements and ability to obtain additional financing; the effect of financing transactions and anti-dilution provisions on the Company's capital structure; the Company's ability to integrate and realize the anticipated benefits of acquired assets; demand for and market acceptance of the Company's products; competitive, technological, supply-chain, regulatory and commercial risks; and political, economic and military instability in Israel and the Middle East. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those described under "Risk Factors" in 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 (the "SEC") on March 25, 2026, and in the Company's subsequent SEC filings. The Company undertakes no obligation to update any forward-looking statement, except as required by law.

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