Bloom Energy Corporation - BE STOCK NEWS

Bloom Energy (NYSE:BE) and Southern California Gas Co. (OTC-PINK:SOCGP) are collaborating on a hydrogen project aimed at demonstrating the integration of hydrogen into California's natural gas infrastructure. This initiative, launching at Caltech in Pasadena, will generate hydrogen using Bloom's high-temperature electrolyzer, blending it into the existing natural gas network. The project seeks to aid California in achieving carbon neutrality, showcasing hydrogen's potential for energy resilience and cost-effective storage. The companies emphasize the economic advantages of using less electricity for hydrogen production.

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.

Heliogen and Bloom Energy Corporation (NYSE: BE) successfully demonstrated a combined technology for producing green hydrogen in Lancaster, California. Heliogen's AI-enabled concentrated solar energy system, paired with Bloom's electrolyzer, achieved hydrogen production 45% more efficient than traditional methods. With hydrogen demand projected to grow significantly, this integration is a critical step toward decarbonizing heavy industry and facilitating cost-effective green hydrogen production.

Bloom Energy (NYSE: BE) will engage in several virtual events for the financial community, including Baird's Virtual Global Industrial Conference on November 9, 2021, and the Credit Suisse Inaugural Virtual Climate Symposium on December 6, 2021. The company aims to promote its mission of providing clean, reliable energy through its Bloom Energy Server, which is designed for microgrid applications and serves major customers across various industries. For further details, visit www.bloomenergy.com.

Bloom Energy (NYSE:BE) announced the deployment of a 1 MW fuel cell system at Bar 20 Dairy Farms in Kerman, California, marking its inaugural dairy biogas project. This initiative utilizes cow manure to produce renewable electricity without combustion, effectively capturing methane emissions that would otherwise contribute to climate change. The project supports California's Low Carbon Fuel Standard, providing additional income opportunities for farmers. The deployment aims to enhance local air quality while offering a sustainable energy solution.

Bloom Energy Corporation (NYSE: BE) reported Q3 2021 revenue of $207.2 million, a 3.5% increase year-over-year, with a GAAP gross margin of 17.8%. The company achieved a record 353 system acceptances, up 12.4% from Q3 2020. Despite revenue growth, net loss expanded to $52.4 million, with GAAP EPS at ($0.30). Bloom launched its Bloom Electrolyzer and Hydrogen Energy Server, aiming for leadership in net-zero emissions. Cash reserves dropped to $319.9 million, down from $504.4 million in 2020.

Bloom Energy has announced a significant deployment of 10 megawatts of fuel cells in Colchester, Connecticut. This installation aims to aid the town in reducing its dependence on heating oil while aligning with the state's clean energy objectives. The project is projected to cut carbon emissions by 3,850 tons annually and reduce smog-forming pollutants by over 99% compared to traditional grid alternatives. This deployment is part of a broader initiative by Connecticut's state government to enhance renewable energy sources.

Bloom Energy (NYSE: BE) and SK ecoplant announced an expanded partnership to enhance their leadership in clean energy and hydrogen markets. The deal includes a contract for at least 500 megawatts of power, valued at approximately $4.5 billion, to be fulfilled by 2025. Furthermore, the companies will establish hydrogen innovation centers in the U.S. and South Korea and SK ecoplant plans to invest around $500 million into Bloom Energy. This investment is expected to accelerate growth and commercialization of hydrogen solutions.