Bloom Energy - BE STOCK NEWS

Bloom Energy Corporation (NYSE: BE) has closed an underwritten public offering of 14,950,000 shares of Class A common stock at a price of $26.00 per share, generating gross proceeds of $388.7 million. This offering included 1,950,000 shares from the underwriters' option to purchase additional shares. J.P. Morgan, Morgan Stanley, and BofA Securities served as joint book-running managers for the offering. The company aims to utilize the funds raised to further its mission of providing clean, reliable energy solutions.

Bloom Energy Corporation (NYSE: BE) has priced its underwritten public offering of 13,000,000 shares of Class A common stock at $26.00 per share, aiming for gross proceeds of approximately $338.0 million. The underwriters have a 30-day option to purchase an additional 1,950,000 shares. The offering is set to close on August 19, 2022, pending customary conditions. Proceeds will support general corporate purposes, including R&D, sales, marketing activities, and potential debt repayment.

Bloom Energy Corporation (NYSE: BE) has initiated a public offering of 13,000,000 shares of its Class A common stock, with a 30-day option for underwriters to purchase an additional 1,950,000 shares. The offering's completion is uncertain and subject to market conditions. J.P. Morgan, Morgan Stanley, and BofA Securities are managing the deal. Proceeds will be used for general corporate purposes, including R&D, sales, marketing, and possibly repaying debt. A registration statement has been filed with the U.S. Securities and Exchange Commission.

Bloom Energy (NYSE: BE) announced positive preliminary results from its ongoing hydrogen production demonstration with Idaho National Laboratory. Bloom's high-temperature electrolyzer achieved an efficiency of 37.7 kWh/kg of hydrogen, outperforming other commercial electrolyzers. The electrolyzer demonstrated an 88.5% DC efficiency, showcasing its potential for large-scale hydrogen production using minimal energy. The collaboration aims to address the growing demand for clean hydrogen, projected to increase significantly by 2050, while reducing production costs by leveraging nuclear energy.

Bloom Energy (NYSE: BE) reported record revenue of $243.2 million for Q2 2022, driven by 471 acceptances. The company deployed its first fuel cells in the EU and secured its first electrolyzer order in the USA. Despite the positive revenue growth, Bloom Energy faced a net loss of $118.8 million, leading to an EPS of $ (0.67). The company reaffirmed its 2022 outlook for revenue between $1.1 billion and $1.15 billion. CEO KR Sridhar emphasized the company’s innovative strategies amidst a dynamic energy market.

Bloom Energy (NYSE: BE) will release its Q2 2022 financial results on August 9, 2022, after market close. A conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) the same day to discuss these results. Investors can join via dial-in or live webcast at Bloom Energy Investor Relations. A replay will be available for a week post-call and on their website for one year. Bloom Energy is committed to providing lower carbon energy solutions.

Bloom Energy expands its reach into Europe by partnering with Ferrari to install a one megawatt (MW) solid oxide fuel cell system at its headquarters in Maranello, Italy. This initiative aims to support Ferrari's goal of achieving carbon neutrality in manufacturing by 2030. The fuel cells will provide 5% of the necessary energy for Ferrari's operations while reducing gas requirements by 20% and emissions, aligning with Italy's national hydrogen strategy. This marks a significant milestone for Bloom Energy as it ventures into the European market.

Bloom Energy Corporation (NYSE: BE) and Westinghouse Electric Company have signed a Letter of Intent to develop clean hydrogen production in the nuclear power sector. This partnership aims to implement large-scale hydrogen projects utilizing Bloom's solid oxide technology and Westinghouse's nuclear expertise. The collaboration seeks to optimize electrolysis solutions, enabling nuclear plants to produce hydrogen efficiently and support decarbonization efforts. The global demand for hydrogen is projected to increase significantly by 2050, highlighting the need for low-carbon production methods.