Bloom Comments on Korea Fuel Cell Auction Results and Expected 2024 and 2025 Korea Volumes
Bloom Energy (NYSE: BE) has addressed market commentary regarding the recent Korea Hydrogen Portfolio Standard auction results. The company expects shipment volumes to Korea in 2024 and coming years to remain similar to recent years. Bloom reaffirmed its previous disclosure that partner SK ecoplant Co., is expected to purchase 500MW of Bloom solid oxide fuel cells between January 1, 2024 and December 31, 2027.
Bloom emphasizes its leadership in solid oxide fuel cell technology, highlighting 60% electrical efficiency using hydrogen and 90% combined heat and power efficiency. The company remains confident in its Korean partners and the transformative potential of its fuel cells in the Korean energy market. Bloom's Chief Commercial Officer, Aman Joshi, stated that Korea is an important market for the company and expressed confidence in SK's continued performance.
Bloom Energy (NYSE: BE) ha risposto ai commenti di mercato riguardo ai recenti risultati dell'asta del Korea Hydrogen Portfolio Standard. L'azienda si aspetta che i volumi di spedizione verso la Corea nel 2024 e negli anni a venire rimangano simili a quelli degli anni recenti. Bloom ha ribadito la propria comunicazione precedente secondo cui il partner SK ecoplant Co. prevede di acquistare 500MW di celle a combustibile a ossido solido di Bloom tra il 1 gennaio 2024 e il 31 dicembre 2027.
Bloom sottolinea la propria leadership nella tecnologia delle celle a combustibile a ossido solido, evidenziando il 60% di efficienza elettrica nell'uso dell'idrogeno e il 90% di efficienza combinata di calore e potenza. L'azienda rimane fiduciosa nei suoi partner coreani e nel potenziale trasformativo delle sue celle a combustibile nel mercato energetico coreano. Aman Joshi, Chief Commercial Officer di Bloom, ha dichiarato che la Corea è un mercato importante per l'azienda ed ha espresso fiducia nelle performance continue di SK.
Bloom Energy (NYSE: BE) ha respondido a los comentarios del mercado sobre los resultados recientes de la subasta del Korea Hydrogen Portfolio Standard. La compañía espera que los volúmenes de envío a Corea en 2024 y en los próximos años se mantengan similares a los de años recientes. Bloom reafirmó su divulgación previa de que el socio SK ecoplant Co. espera comprar 500MW de celdas de combustible de óxido sólido de Bloom entre el 1 de enero de 2024 y el 31 de diciembre de 2027.
Bloom enfatiza su liderazgo en la tecnología de celdas de combustible de óxido sólido, destacando un 60% de eficiencia eléctrica utilizando hidrógeno y un 90% de eficiencia combinada de calor y energía. La compañía sigue confiando en sus socios coreanos y en el potencial transformador de sus celdas de combustible en el mercado energético de Corea. Aman Joshi, Director Comercial de Bloom, declaró que Corea es un mercado importante para la compañía y expresó confianza en el rendimiento continuo de SK.
Bloom Energy (NYSE: BE)는 최근 한국 수소 포트폴리오 기준 경매 결과에 대한 시장 반응에 대응했습니다. 이 회사는 2024년 및 향후 몇 년간 한국으로의 배송량이 최근 몇 년과 비슷하게 유지될 것으로 예상합니다. Bloom은 파트너인 SK 에코플랜트가 2024년 1월 1일부터 2027년 12월 31일 사이에 Bloom의 고체 산화물 연료전지 500MW를 구매할 것으로 기대한다고 이전 공지를 재확인했습니다.
Bloom은 고체 산화물 연료전지 기술에서의 리더십을 강조하며 수소를 사용할 때 60%의 전기 효율성과 90%의 열 및 전력 결합 효율성을 강조합니다. 이 회사는 한국 파트너와 그들의 연료전지가 한국 에너지 시장에서 변혁적인 잠재력을 가지고 있다는 데 자신감을 가지고 있습니다. Bloom의 상업 책임자인 아만 조시는 한국이 회사에 중요한 시장이라고 말하며 SK가 계속해서 좋은 성과를 낼 것이라고 확신한다고 전했습니다.
Bloom Energy (NYSE: BE) a répondu aux commentaires du marché concernant les résultats récents de l'enchère du Korea Hydrogen Portfolio Standard. La société s'attend à ce que les volumes d'expédition vers la Corée en 2024 et dans les années à venir restent similaires à ceux des années récentes. Bloom a réaffirmé sa divulgation précédente selon laquelle le partenaire SK ecoplant Co. devrait acheter 500 MW de piles à hydrogène à oxyde solide de Bloom entre le 1er janvier 2024 et le 31 décembre 2027.
Bloom souligne son leadership dans la technologie des piles à hydrogène à oxyde solide, en mettant en avant une efficacité électrique de 60 % utilisant de l'hydrogène et une efficacité combinée de chaleur et d'électricité de 90 %. La société reste confiante quant à ses partenaires coréens et au potentiel transformateur de ses piles à hydrogène sur le marché énergétique coréen. Aman Joshi, Directeur Commercial de Bloom, a déclaré que la Corée est un marché important pour l'entreprise et a exprimé sa confiance dans la performance continue de SK.
Bloom Energy (NYSE: BE) hat auf Marktkommentare zu den jüngsten Ergebnissen der Korea Hydrogen Portfolio Standard Auktion reagiert. Das Unternehmen erwartet, dass die Versandmengen nach Korea im Jahr 2024 und den kommenden Jahren ähnlich wie in den letzten Jahren bleiben. Bloom bestätigte seine vorherige Mitteilung, dass der Partner SK ecoplant Co. voraussichtlich zwischen dem 1. Januar 2024 und dem 31. Dezember 2027 500 MW von Blooms Feststoff-Brennstoffzellen kaufen wird.
Bloom betont seine Führungsposition in der Technologie der Feststoff-Brennstoffzellen und hebt eine elektrische Effizienz von 60% bei Verwendung von Wasserstoff und 90% kombinierte Wärme- und Stromeffizienz hervor. Das Unternehmen bleibt zuversichtlich in Bezug auf seine koreanischen Partner und das transformative Potenzial seiner Brennstoffzellen im koreanischen Energiemarkt. Amans Joshi, Chief Commercial Officer von Bloom, erklärte, dass Korea ein wichtiger Markt für das Unternehmen ist und äußerte Vertrauen in die fortgesetzte Leistung von SK.
- Expected shipment volumes to Korea to remain stable in 2024 and coming years
- Reaffirmation of 500MW purchase commitment from SK ecoplant between 2024-2027
- Demonstrated 60% electrical efficiency using hydrogen and 90% combined heat and power efficiency
- Confidence in Korean partners and market potential
- None.
Insights
The announcement from Bloom Energy (NYSE: BE) regarding their expected shipment volumes to Korea appears to be a reassurance to investors amidst market speculation. While the company maintains its previous guidance of 500MW sales to SK ecoplant over the next four years, the lack of specific financial figures or new orders makes it challenging to gauge the immediate impact on revenue. The emphasis on multiple sales channels beyond the public auction suggests a diversified approach, which could provide some stability. However, the absence of concrete growth projections or new contract announcements might be seen as a neutral factor for short-term stock performance. Investors should closely monitor future earnings reports to assess the actual realization of these expected volumes and their impact on Bloom's financial health.
Bloom Energy's statement highlights their technological edge in solid oxide fuel cells, claiming
The Korean market appears to be a strategic focus for Bloom Energy, as evidenced by their joint manufacturing venture and local supplier network expansion. However, the company's reliance on a single partner, SK ecoplant, for significant volume commitments could be a potential risk. The statement's defensive tone in response to market commentary suggests there might be concerns about Bloom's performance in the recent auction. While the company asserts that the auction is just one sales mechanism, the lack of specific growth projections beyond maintaining current volumes could be interpreted as a sign of market challenges. Investors should watch for diversification of partnerships in Korea and expansion into other markets to mitigate dependency risks. Additionally, monitoring SK ecoplant's financial health and market position will be important for assessing Bloom's future performance in this key market.
In response to market commentary regarding the results of the recent Korea Hydrogen Portfolio Standard auction, Bloom expects shipment volumes to
Bloom is the proven leader in solid oxide fuel cell technology, having demonstrated
Bloom remains fully confident in our partners in
“Korea is an important market for Bloom Energy,” said Aman Joshi, Bloom’s Chief Commercial Officer. “We fully anticipate that our partner SK will continue to perform well, supported by the superior solution that Bloom’s solid oxide fuel cells provide.”
Bloom’s superior technology ensures that we are now and will remain the leader in overall efficiency and total cost of ownership for fuel cell-based energy generation. We continue to be fully committed to the Korean market through our manufacturing joint venture and an expanding local supplier network. We are excited about our opportunities in the future alongside our partner SK.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com .
Forward Looking Statements
This press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or the negative of these words or similar terms or expressions that concern Bloom’s expectations, strategy, priorities, plans, or intentions. These forward-looking statements include expectations regarding shipment volumes to the Korean market and expected future purchases and performance by SK ecoplant. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors including, but not limited to, risks and uncertainties detailed in Bloom’s SEC filings. More information on potential risks and uncertainties that may impact Bloom’s business are set forth in Bloom’s periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023, and its Quarterly Report on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, filed with the SEC on February 15, 2024, May 9, 2024, and August 8, 2024, respectively, as well as subsequent reports filed with or furnished to the SEC. Bloom assumes no obligation to, and does not intend to, update any such forward-looking statements.
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Investor Relations:
Michael Tierney
Bloom Energy
investor@bloomenergy.com
Media:
Bloom Energy
press@bloomenergy.com
Source: Bloom Energy
FAQ
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