Welcome to our dedicated page for Bloom Energy Corporation news (Ticker: BE), a resource for investors and traders seeking the latest updates and insights on Bloom Energy Corporation stock.
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 announced a power capacity agreement with Intel to install the largest fuel cell-powered high-performance computing data center in Silicon Valley. This agreement will see the deployment of additional megawatts of Bloom Energy's fuel cell-based Energy Server at Intel's existing data center location. The installation will make it the largest fuel cell-powered data center in Silicon Valley, offering a reliable power solution for energy-intensive data centers. Bloom Energy's technology can operate in a fully islanded microgrid mode, providing a sustainable energy solution.
Bloom Energy (NYSE: BE) reported revenue of $235.3 million for the first quarter of 2024, showing a 14.5% decrease compared to the same period in 2023. The company's gross margin decreased by 3.5 percentage points, while operating loss improved by $14.7 million. Non-GAAP operating loss decreased by $3.4 million. Bloom Energy's CEO expressed optimism about market interest and commercial activity across various sectors, highlighting AI hardware supply chain industries. The company reaffirmed its outlook for full-year 2024, expecting revenue of $1.4 - $1.6 billion, a non-GAAP gross margin of around 28%, and non-GAAP operating income of $75 - $100 million.
Bloom Energy (NYSE: BE) has partnered with Quanta Computer Inc. to provide a clean and reliable power solution for Quanta's manufacturing expansion in Fremont, CA. The partnership showcases Bloom Energy's capability to meet the time-to-power challenges of the AI sector, offering a fully islanded microgrid powered by fuel cell technology. This innovative solution helps Quanta Computer maintain its competitive edge in Silicon Valley by circumventing traditional utility constraints.
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