Bloom Energy Launches Combined Heat and Power Solution, Increasing System Efficiency, and Improving Economics

Rhea-AI Summary

Bloom Energy (NYSE:BE) has announced enhancements to its Bloom Energy Server™, specifically integrating Combined Heat and Power (CHP) capabilities. This advancement raises the system's efficiency to potentially 90%, addressing increasing energy demand amid power grid constraints. The CHP-compatible platform is set to support diverse applications like industrial processes and heating, with the first unit scheduled for delivery in Italy this summer. Bloom's commitment to research and development underpins this innovation, aligning with international expansion goals, particularly in Europe where tax incentives are available for CHP systems.

Positive

• Integration of Combined Heat and Power (CHP) increases system efficiency to potentially 90%.
• First CHP-compatible platform set for delivery this summer in Italy, supporting international expansion.
• Enhancements align with growing energy demand and ambitious climate goals.

Negative

• None.

Bloom Energy Server™ with Heat Capture Lifetime Average Efficiency of up to 90%

SAN JOSE, Calif.--(BUSINESS WIRE)-- Bloom Energy (NYSE:BE) has released its newest application to further enhance the efficiency of its Bloom Energy Server™ to serve customers in markets facing growing energy demand but constrained power grids and ambitious climate goals. The Bloom platform can now be ordered by customers with the compatibility to support Combined Heat and Power (CHP), increasing system efficiency and improving economics.

“Compared to older technologies including combustion engines, the Bloom Energy Server has one of the highest electrical efficiencies in the industry. By adding Heat Capture, the system efficiency is currently in the mid-80% range, with the potential roadmap that can increase the CHP efficiency to 90%,” said Ravi Prasher, Chief Technology Officer, Bloom Energy. “This is another example of our ongoing investment in research and development to provide low-carbon, energy solutions.”

The CHP compatible energy platform enhances Bloom’s value proposition in support of its international expansion plans, especially in Europe. The EU offers tax credits for repurposing CHP systems to address energy constraints and support climate goals. Some typical applications for the CHP systems include industrial boilers, central heating, district heating and process water and cooling. Bloom’s first CHP compatible platform will be delivered this summer to a customer in Italy.

Bloom Energy is a world leader in solid oxide fuel cells. Its energy server is designed with the philosophy of using every input as efficiently as possible. CHP is a system that produces electricity and thermal energy, using a range of technologies and fuels most typically with combustion engines. With on-site production, losses are minimized and heat that would otherwise be wasted is applied to facility loads in the form of process heating, hot water, or even chilled water.

For more information about Bloom Energy’s CHP technology visit: https://www.bloomenergy.com/applications/energy-server-with-heat-capture/

Forward-Looking Statements

This press release contains certain forward-looking statements that 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, but are not limited to: the efficiency, economics, value proposition and timing of delivery of the Bloom Energy Server™ with CHP; Bloom’s investment in research and development; Bloom’s international expansion plans; potential tax credits. 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, 2021, filed with the SEC on February 25, 2022, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, filed with the SEC on May 6, 2022, August 9, 2022 and November 3, 2022, respectively, as well as subsequent reports filed with or furnished to the SEC from time to time. Bloom assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

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 around the world 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005757/en/

Media Contact:

Donald Campbell

press@bloomenergy.com

Investor Relations:

Ed Vallejo

267.370.9717

Edward.Vallejo@bloomenergy.com

Source: Bloom Energy

FAQ

What are the efficiency improvements in Bloom Energy's new CHP system?

Bloom Energy's new Combined Heat and Power (CHP) system can achieve up to 90% efficiency.

When will Bloom Energy's first CHP-compatible platform be delivered?

The first CHP-compatible platform is scheduled for delivery this summer in Italy.

How does Bloom Energy plan to support international expansion?

Bloom Energy's CHP enhancements aim to improve its value proposition for international markets, especially in Europe.

What applications can benefit from Bloom Energy's CHP systems?

Applications include industrial boilers, central heating, district heating, and process water and cooling.

How does the CHP technology align with climate goals?

The CHP technology supports lower carbon energy solutions, contributing to ambitious climate goals and addressing energy constraints.