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Bloom Energy Corporation (NYSE: BE) is a leading provider of innovative and efficient on-site primary power generation systems. The company's hallmark product, the Bloom Energy Server, utilizes proprietary solid-oxide fuel cell technology initially developed for NASA's Mars program. This cutting-edge technology offers businesses a reliable, cleaner, and cost-effective alternative to the traditional electric power grid. The Energy Servers are capable of using natural gas, biogas, and hydrogen to generate constant, 24/7 electricity for various stationary applications.
Bloom Energy's commitment to reducing greenhouse gas emissions and lowering operating costs has attracted a prestigious client base that includes several Fortune 500 companies such as Google, Walmart, AT&T, eBay, and The Coca-Cola Company. Additionally, notable non-profit organizations like Caltech and Kaiser Permanente are leveraging Bloom's technology to enhance their energy resiliency and sustainability.
In recent years, Bloom Energy has expanded its technological horizons by announcing plans to enter the electrolyzer market, applying its cutting-edge fuel cell technology to create sustainable hydrogen fuel. This strategic move underscores Bloom Energy's ongoing commitment to innovation and environmental stewardship.
Financially, Bloom Energy has secured significant investments and partnerships, including being the first clean energy technology venture backed by prominent investment firms Kleiner Perkins and NEA. The company primarily markets its systems in the United States and South Korea, positioning itself as a pivotal player in the global energy landscape.
The latest news highlights Bloom Energy's groundbreaking projects and partnerships, reflecting its position as a trailblazer in the clean energy sector. Stay tuned for the latest updates and developments about Bloom Energy on StockTitan.
Bloom Energy (NYSE:BE) has announced a breakthrough in its Solid Oxide Fuel Cell (SOFC) technology, achieving ~60% electrical efficiency using 100% hydrogen. This milestone, reached at their R&D facility in Fremont, California, positions Bloom as a leader in the hydrogen industry. The Bloom Energy Server™ power solution offers significant advantages over traditional combustion technologies, including higher efficiency and negligible environmental pollutants.
Key features of Bloom's SOFC technology include:
- Fuel flexibility: operates on natural gas, hydrogen, and blends
- Combined Heat and Power (CHP) enabled, allowing for up to 90% combined efficiency
- High-temperature heat output, suitable for various industrial applications
- Potential for wider adoption of hydrogen as a fuel source due to high efficiency
This advancement is particularly relevant for energy-intensive industries like data centers and advanced manufacturing, offering a solution for 24/7 clean power production in conjunction with other renewable sources.
Bloom Energy (NYSE: BE) has appointed Barbara Burger, Ph.D. to its Board of Directors, effective August 1, 2024. Burger, former vice president of innovation and president of Chevron Technology Ventures, brings extensive experience in energy innovation and technical understanding to Bloom's board. Her expertise is expected to provide valuable guidance as Bloom expands its Solid Oxide Fuel Cell (SOFC) platform capabilities and develops new applications for the energy transition.
KR Sridhar, Bloom Energy's CEO, highlighted Burger's commercial background and experience in developing and scaling new energy solutions as key assets. Her knowledge in carbon capture technology aligns with Bloom's Energy Server platform capabilities. Burger holds a Ph.D. in chemistry from Caltech and has a strong background in addressing energy transition challenges through various civic and industry board positions.
Bloom Energy (NYSE: BE) has announced it will release its second quarter 2024 financial results on August 8, 2024 after market close. The company's management will host a conference call and webcast at 2:00 p.m. Pacific Time (PT) / 5:00 p.m. Eastern Time (ET) on the same day to discuss these results. The call will last for 60 minutes.
Interested parties can access the live call via phone or webcast. A telephonic replay will be available for one week following the call, and a webcast replay will be accessible for one year on the Investors section of the Bloom Energy website.
Bloom Energy (NYSE: BE) has announced a strategic partnership with CoreWeave to power a high-performance data center in Volo, Illinois, owned by Chirisa Technology Parks. This collaboration aims to meet the rising energy demands of the AI sector. Bloom will deploy its proprietary solid oxide fuel cells to generate on-site power for CoreWeave's cloud-based AI computing models. The fuel cells are scheduled for commissioning in Q3 2025.
This partnership highlights Bloom's capability to support the rapidly growing AI industry's energy needs. CoreWeave's Chief Strategy Officer, Brian Venturo, emphasized that this collaboration will enable them to deliver unmatched performance and reliability to customers while advancing sustainability objectives. Bloom Energy's global presence positions it to meet the energy requirements of the AI industry worldwide.
Bloom Energy (NYSE: BE) and Tarana Wireless will host the 4th Annual Stars and Strides 5K-10K Run/Walk and Kids Fun Run on Saturday, June 29, benefiting the Valley Health Foundation. The event offers activities for all ages, including a 5K-10K run/walk and a kids' fun run for ages 2-7 at Discovery Meadow Park. Highlights include live music, lawn games, food trucks, face painting, an inflatable obstacle course, and pictures with superheroes. Notably, Santa Clara County Sheriff Bob Jonsen will kick off the Kids Fun Run with a helicopter landing. The event aims to raise $360,000 for the Valley Health Foundation, supporting community health initiatives in Santa Clara County. Participants also have opportunities to win prizes, including roundtrip airline tickets and Disneyland passes.
Bloom Energy (NYSE: BE) has appointed Gary Pinkus, Chairman of McKinsey & Company in North America, to its Board of Directors. Pinkus brings nearly 40 years of experience in governance, leadership, and executive roles, primarily at McKinsey & Company. He co-founded and led the global Private Equity & Principal Investors practice and has advised numerous energy companies on their path to net-zero emissions.
KR Sridhar, CEO of Bloom Energy, expressed confidence in Pinkus' ability to support the company's next stage of global growth. Pinkus has chaired McKinsey's Senior Partners Committee since 2019 and holds degrees from Stanford University and Harvard Business School.
Bloom Energy (NYSE: BE) and Sembcorp Industries announced a collaboration at the 2024 Clean Economy Investor Forum to provide low-carbon electricity in Singapore. Sembcorp plans to use Bloom's solid oxide fuel cell technology and third-party carbon capture technologies to meet Singapore's energy needs. This initiative aligns with Singapore's Green Data Centre Roadmap, aiming to develop sustainable data centers. Bloom's Energy Server, integrated with carbon capture, will offer low-carbon power to data centers, and potentially deliver green energy using low-carbon feedstock. The collaboration supports Singapore's goal of achieving net-zero emissions by 2050.
Bloom Energy (NYSE: BE) has announced the pricing of its upsized $350 million Green Convertible Senior Notes offering. The notes, set to mature in 2029, carry a 3.00% annual interest rate and are convertible into Class A common stock under certain conditions. The initial conversion price is approximately $20.84 per share, a 32.5% premium over the current share price. The offering size was increased from the previously announced $250 million. Settlement is expected on May 29, 2024. Net proceeds are estimated at $338.8 million, with $141.8 million allocated to repurchase outstanding 2025 notes and the rest for corporate purposes. The notes are redeemable under specific conditions and provide rights for repurchase by noteholders in case of a fundamental change.
Bloom Energy (NYSE: BE) plans to offer $250 million in green convertible senior notes due 2029 in a private offering. An additional $37.5 million option may be available for initial purchasers. The notes will be senior, unsecured, and accrue interest payable semi-annually. They can be converted into cash, shares, or a combination thereof.
Proceeds will be used to repurchase 2.50% green convertible senior notes due 2025 and for general corporate purposes, including R&D and capital expenditures. Noteholders can convert their notes under specific conditions. The offer and sale of these notes will not be registered under the Securities Act.
C3 AI and Bloom Energy have announced a collaboration to integrate the C3 AI Reliability Suite into Bloom Energy's fuel cell systems.
This integration aims to enhance operational excellence, reliability, and energy output. Bloom Energy, which monitors over a billion real-time data points daily, will use AI to provide precise modeling and timely recommendations to improve fuel cell performance.
The collaboration aims to drive innovation, reduce costs, and maximize the potential of Bloom's fuel cell platform, ultimately enhancing customer satisfaction and operational efficiency.
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