Bloom Energy - BE STOCK NEWS

Bloom Energy (NYSE: BE) has addressed market commentary regarding the recent Korea Hydrogen Portfolio Standard auction results. The company expects shipment volumes to Korea in 2024 and coming years to remain similar to recent years. Bloom reaffirmed its previous disclosure that partner SK ecoplant Co., is expected to purchase 500MW of Bloom solid oxide fuel cells between January 1, 2024 and December 31, 2027.

Bloom emphasizes its leadership in solid oxide fuel cell technology, highlighting 60% electrical efficiency using hydrogen and 90% combined heat and power efficiency. The company remains confident in its Korean partners and the transformative potential of its fuel cells in the Korean energy market. Bloom's Chief Commercial Officer, Aman Joshi, stated that Korea is an important market for the company and expressed confidence in SK's continued performance.

InspIR Group, a leading cross-border strategic investor relations and Sustainability consultancy, has announced the appointment of Ed Vallejo as Managing Director, effective September 16, 2024. Vallejo brings over two decades of experience as a senior financial and operational executive, with expertise in financial strategy, planning, modeling, and Sustainability.

Vallejo's notable career includes a 15-year tenure at American Water Works (NYSE: AWK), where he launched the company's investor relations function and pioneered integrated IR and ESG reporting. He also led American Water's IPO on the NYSE and consistently ranked first or second in the All-American Executive Team for Utilities and ESG. Most recently, Vallejo served as Vice President of Investor Relations at Bloom Energy (NYSE: BE).

This appointment aims to strengthen InspIR's senior advisory capability in the U.S. and emerging markets, leveraging Vallejo's extensive experience in critical issues facing clients today.

Bloom Energy (NYSE: BE) reported second quarter 2024 financial results with revenue of $335.8 million, an 11.5% increase year-over-year. The gross margin improved to 20.4% from 18.7%. The operating loss was $23.1 million, a significant improvement from the $54.5 million loss in Q2 2023. The non-GAAP operating loss was $3.2 million, improving from $25.9 million. Bloom issued 3% convertible green notes to strengthen its balance sheet. The company also announced partnerships with CoreWeave and Silicon Valley Power to provide energy solutions.

For the full-year 2024, Bloom reaffirmed its financial guidance with revenue expected between $1.4-$1.6 billion and a non-GAAP operating income of $75-$100 million. The company's CEO emphasized the growing demand for electricity and Bloom's position to capitalize on this opportunity. A conference call will be held on August 8, 2024, to discuss these results.

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.