Bloom Energy, Conrad Energy and Electricity North West Construction & Maintenance Bring Hydrogen-Ready Power to the United Kingdom

Rhea-AI Summary

Bloom Energy (NYSE: BE) announces a partnership with Conrad Energy and Electricity North West to develop behind-the-meter projects in the UK. This collaboration aims to introduce Bloom's solid oxide power generation technology to the UK market, with orders expected to start in December 2021. The initiative supports the UK's net-zero carbon goals by 2050 and offers cost predictable energy solutions via Power Purchase Agreements. The partnership emphasizes hydrogen production as a key to decarbonizing heavy industries, enhancing the UK's energy infrastructure.

Positive

• Collaboration with Conrad Energy and Electricity North West expands market presence in the UK.
• Introduction of solid oxide power generation technology aligns with UK's net-zero goals.
• Power Purchase Agreements (PPAs) provide cost predictability for customers.

Negative

• Dependence on hydrogen infrastructure development and government policies introduces market risks.

Reliable, future-proof and cost-predictable technology platform helps commercial and energy-intensive organisations meet net-zero carbon goals

SAN JOSE, Calif. & ABINGDON, UK & MIDDLESBOROUGH, UK--(BUSINESS WIRE)-- Bloom Energy (NYSE: BE), Conrad Energy, and Electricity North West (Construction and Maintenance) Limited (ENWCML) today announced plans to collaborate on the development, construction and operation of behind-the-meter (BtM) projects to bring Bloom Energy’s solid oxide power generation platform to the UK market. Orders are expected to commence in December 2021.

Bloom Energy's fuel-flexible Servers (Photo: Business Wire)

Bloom’s fuel-flexible, non-combustion Energy Servers combine ambient air and biogas, hydrogen, or natural gas to create electricity through an electrochemical process without combustion at high efficiency. The result is a reduction in carbon emissions, air pollutants, and water usage. When hydrogen or biogas are used as the fuel source, the Energy Servers deliver on-site, 24/7, zero-carbon electricity — all in a simple, modular and flexible design.

Hydrogen is well-suited for an array of applications and unlocks a net-zero emissions future for hard-to-decarbonize heavy industries. Industrial stakeholders in the UK will be able to transition toward a green energy supply as hydrogen production infrastructure continues to mature with the support of aggressive UK government targets. The collaboration creates a strong foundation that will help the UK achieve its net zero carbon emissions goals by 2050, including a hydrogen strategy that aims for five gigawatts of low carbon hydrogen production capacity by 2030.

As part of the collaboration, Bloom Energy expects to supply its Energy Servers along with local servicing. Conrad Energy, a UK-based owner, operator and optimiser of energy assets, with a strong focus on behind the meter (BtM) energy efficiency and renewable energy solutions, will be the lead project financer and act as the primary energy supplier. Electricity North West (Construction and Maintenance) Ltd, a private electricity network asset service provider with over 1,000 commercial and industrial users in its maintenance portfolio, will lead the installation and offer the BtM solution to its commercial and industrial customers.

Fully financed by Conrad Energy, Bloom’s Energy Servers bring additional value to customers in terms of energy savings and the ability to support microgrid configurations, ensuring continuity of operations for mission critical loads with continuous inverter-based power. The technology will be offered to customers under a Power Purchase Agreement (PPA) structure, removing upfront capital costs while providing cost predictability across the term of the contract.

“Bloom Energy’s technology is distinctly capable of helping the UK meet its 2050 net-zero carbon goals,” said Tim Schweikert, senior managing director, international business development, Bloom Energy. “We are proud to enter the UK market through our collaboration with Conrad Energy and Electricity North West Construction and Maintenance, where we can help the region’s pursuit of making clean, reliable and affordable energy solutions a reality.”

“Being able to offer this highly innovate fuel cell technology from Bloom Energy is a fantastic opportunity for ENWCML and our customers,” said Jim Hallas, customer solutions director, ENWCML. “We want to be a UK leader in the race to reduce carbon emissions and help our customers achieve energy cost security, whilst preparing for the hydrogen economy. This technology offering manages to do all three in one go.”

“This collaboration is very exciting for Conrad Energy as we continue our strong growth into new technologies, which provide future proof solutions to our customers,” said Chris Shears, development director, Conrad Energy. “We believe the resilient power provided by fuel cells will have a vital role to play in reducing emissions and energy costs.”

To learn more about the Bloom Energy’s commitment to a zero-carbon future, visit: https://www.bloomenergy.com/technology/powering-the-future/

For more information on Bloom Energy’s sustainability efforts, visit: https://www.bloomenergy.com/sustainability/

About Conrad Energy

Conrad Energy is delivering a pathway to the future of a flexible low carbon economy. A full-service independent power producer (IPP), Conrad Energy is delivering fast and flexible power generation to support the National Grid and regional District Network Operators from embedded, flexible generation projects and battery storage. We also provide onsite generation solutions to commercial and industrial companies. For more information, visit: www.conradenergy.co.uk

About Electricity North West (Construction & Maintenance) Limited (ENWCML)

Electricity North West (Construction & Maintenance) Limited is a specialist power engineering company delivering engineering solutions and independent Connections Provision (ICP Services) for commercial businesses and public-sector organisations, ranging from Low Voltage through to 132kV.

We specialise in providing energy solutions for customers’ privately owned assets, from safe systems of work, design, construction and maintenance, through to energy efficiency and the latest innovative technologies. For more information, visit: www.enwcml.co.uk

About Bloom Energy

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would” and similar expressions identify such forward-looking statements. These statements include, but are not limited to, expectations regarding the commencement of orders in December 2021; expectations regarding net-zero carbon emission goals; statements regarding Bloom’s Energy Servers and technology; ability to support aggressive UK government targets; and expectations regarding hydrogen solutions. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including timing of market adoption of hydrogen projects and solutions, and those included in the risk factors section of Bloom Energy’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and other risks detailed in Bloom Energy’s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005472/en/

Bloom Energy Investor Relations:

Ed Vallejo

+1 267.370.9717

Edward.Vallejo@bloomenergy.com

Bloom Energy Media Contact:

Jennifer Duffourg

+1 408.543.1566

jennifer.duffourg@bloomenergy.com

Conrad Energy Sales Contact:

Victoria Fielding-Kirby

+44 (0)7512 708311

Victoria.Fielding-Kirby@energycreative.co.uk

Electricity North West (Construction & Maintenance) Sales Contact:

Charles Hesketh

+44 (0)845 0702520

sales@enwcml.co.uk

Source: Bloom Energy

FAQ

What is the recent collaboration involving Bloom Energy (NYSE: BE)?

Bloom Energy is partnering with Conrad Energy and Electricity North West to develop behind-the-meter energy projects in the UK.

When are orders expected to start for the new energy technology from Bloom Energy?

Orders for Bloom Energy's technology are expected to commence in December 2021.

How does Bloom Energy's technology support the UK's net-zero carbon goals?

Bloom Energy's solid oxide power generation technology helps reduce carbon emissions and is aligned with the UK's goal of achieving net-zero emissions by 2050.

What is a Power Purchase Agreement (PPA)?

A Power Purchase Agreement (PPA) is a contract that allows customers to purchase energy without upfront capital costs, ensuring cost predictability over the contract duration.