Bloom Energy Expands Global Footprint with Additions of Industry Veterans and New International Office

Rhea-AI Summary

Bloom Energy (NYSE: BE) has appointed new leaders to strengthen its global expansion and has opened a new office in Dubai. The strategic appointments follow Bloom Energy's growth plan unveiled at the 2020 Analyst Day. The new team will focus on expanding markets in Australia, Europe, and Southeast Asia while promoting Bloom’s fuel-flexible and clean energy technologies.

Positive

• Appointment of experienced leaders enhances global expansion efforts.
• New office in Dubai serves as a strategic anchor for global initiatives.
• Bloom's advanced non-combustion fuel cell technology promotes clean energy.

Negative

• None.

Bloom Energy (NYSE: BE) today announced the appointment of international leadership to strengthen its global expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology. The company also announced the opening of a new office in Dubai, United Arab Emirates that will serve as a strategic global anchor to help organizations around the world reduce carbon emissions, enhance resiliency and chart a path toward a net-zero carbon future.

The new appointments are pursuant to Bloom Energy’s strategic growth plan previously disclosed during its 2020 Analyst Day and intended to unlock value by sharpening focus on new global markets and to position the company for profitability and growth.

Appointments include:

• Adam Bacon: An experienced executive, with extensive background in growing successful businesses and multi-disciplinary teams in industrial sectors, Mr. Bacon will oversee Bloom Energy’s expansion into Australia. He has held a number of notable leadership positions in the energy and transportation industries, where his command of sales negotiation, operational leadership, and contract and project management have fostered profitable growth.

• Philippe Cochet: Mr. Cochet will advise Bloom Energy’s commercial strategy across Europe, with an initial focus on the United Kingdom, France, Italy, Spain and Portugal. His career in business leadership, production and manufacturing spans more than two decades, including senior management roles at the world’s leading renewables, energy and technology companies.

• Benjamin Gaszynski: An international business leader with 15 years of experience in the oil and gas, renewable energy and environmental sectors, Mr. Gaszynski will be responsible for the company’s expansion into Southeast Asia, with an initial focus on Thailand, Singapore and Malaysia. Mr. Gaszynski’s background includes substantial experience in developing, managing and rapidly growing multi-million-dollar energy business units across Asia and the Middle East.

• Mohammed Ali Khan: Mr. Ali Khan assumes the role of senior director, international business development, where he will spearhead Bloom Energy’s global market research as well as commercial sales and partnerships in the Middle East and North Africa. He counts more than two decades of experience in the energy sector, having held roles in finance, business and commercial development at major industrial companies.

• Yves Rannou: A seasoned business leader with a proven track record for driving growth, turnarounds and restructuring at international businesses in the renewables industry (including wind, solar and hydro), Mr. Rannou will lead Bloom Energy’s commercial strategy across Europe, with an initial focus on France, Italy, Spain and Portugal.

• Stephan Reimelt: Mr. Reimelt will be responsible for managing Bloom Energy’s commercial partnerships and development in Germany. He brings a wide range of industry and entrepreneurial experience from the world’s leading energy companies, where he has led successful business transformations and accelerated organizational growth. He is also an engineering professor at the Technical University of Berlin.

• Rasheed Sulaiman: Mr. Sulaiman assumes the role of vice president of international commercial operations and product applications and will lead strategic business opportunities in Africa. He is an accomplished energy sector executive with a robust background in engineering, sales and commercial operations. He also has a notable record of driving growth and operational optimization across the Middle East and Africa.

The appointees, who have held leadership roles at prominent energy, transport and technology companies such as Alstom, Samsung, Baker Hughes and GE, will report to executive vice president, international business, Azeez Mohammed. Mr. Mohammed’s leadership experience spans 27 industry segments including power, oil and gas, marine, renewables and metals/mining across the Americas, Europe and the Middle East. He brings more than two decades of experience in the energy, industrial, and technology sectors and has led multiple standalone industrial businesses with billions of dollars in revenues.

“We are thrilled to welcome this team of international industry veterans to Bloom Energy,” said Azeez Mohammed. “They each bring vast experience in energy and technology industries and valuable perspectives and relationships that will help us unlock new global markets, foster sustainable growth and attract unparalleled talent. International markets are ready for Bloom Energy’s innovative, clean technologies that will help chart a path toward a sustainable and resilient energy future, and our initial discussions with potential partners are promising. By leveraging trusted partners to grow our global footprint, we can focus on what we do best – innovating to deliver best-in-class products and services to our customers.”

Bloom Energy’s technology is the most advanced thermal electric generation technology on the market today. Bloom Energy’s fuel-flexible, non-combustion fuel cells use biogas and hydrogen, in addition to natural gas, to create electricity at significantly higher efficiencies than traditional, combustion-based resources. In addition, Bloom Energy’s fuel cell technology can be used to create hydrogen, which is increasingly recognized as a critically important tool necessary for the full decarbonization of the energy economy.

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 Energy’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.

Cautionary Note Regarding 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, Bloom Energy’s ability to unlock value by sharpening its focus on new global markets and position itself for growth; and Bloom Energy’s ability to successfully grow its global footprint. 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 those included in the risk factors section of Bloom Energy’s Annual Report on Form 10-K for the year ended December 31, 2020 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/20210423005145/en/

FAQ

What is the recent announcement by Bloom Energy (BE)?

Bloom Energy announced new executive appointments and the opening of a new office in Dubai to support its global expansion.

How will Bloom Energy's new leadership impact its market strategy?

The new leadership team aims to enhance Bloom Energy's competitive positioning and accelerate its entry into international markets.

What is Bloom Energy's focus in global markets?

Bloom Energy is focusing on deploying its clean energy technology and expanding its presence in Australia, Europe, and Southeast Asia.

When was Bloom Energy's growth strategy last announced?

The growth strategy was previously disclosed during Bloom Energy's 2020 Analyst Day.

What technology does Bloom Energy use for clean energy?

Bloom Energy utilizes advanced fuel-flexible, non-combustion fuel cell technology to generate electricity.