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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 reported a record first quarter revenue of $201.0 million for Q1 2022, marking a notable increase from $194.0 million in Q1 2021. The company holds $493.9 million in cash and is on track to add a gigawatt of capacity by 2023. However, gross profit declined to $27.9 million with a gross margin of 13.9%. Operating loss surged to $65.7 million compared to $14.4 million a year earlier. Bloom reaffirms its full-year 2022 revenue outlook between $1.1 - $1.15 billion.
Bloom Energy has entered into a certificate trade agreement with EQT, the largest natural gas producer in the U.S., to procure certified, responsibly sourced natural gas for its entire U.S. fleet over the next two years. This agreement aligns with Bloom's July 2021 commitment to transition to certified gas, aiming to reduce annual emissions by approximately 176,000 metric tons of CO2e. The natural gas, compliant with MiQ and Equitable Origin standards, is expected to bolster environmental sustainability efforts for Bloom's customers, including T-Mobile.
Bloom Energy (NYSE: BE) will release its Q1 2022 financial results on May 5, 2022, after market close. A conference call hosted by management will commence at 2:00 p.m. PT / 5:00 p.m. ET on the same day, expected to last 60 minutes. Investors can access the live call by dialing (844) 200-6205 or +1 (833) 950-0062 for international callers. Additionally, a replay will be available for one week post-call. The company provides innovative solutions for lower carbon energy through its solid oxide platform, serving Fortune 100 companies worldwide.
Bloom Energy has announced its first international deployment of a solid oxide electrolyzer in Gumi, South Korea, a significant step towards a hydrogen-fueled economy. This 130 kW installation demonstrates high-efficiency hydrogen production, operating with reduced energy costs compared to other methods. The electrolyzer performs efficiently using renewable energy sources and is expected to operate at 46 kW-hr/kg H2, with even lower energy use when utilizing steam. The project aligns with South Korea's goals to decarbonize its energy system by 2050.
Bloom Energy Corporation (NYSE: BE) is scheduled to participate in several key financial events, including the Morgan Stanley Energy and Power Conference on February 28, 2022, in New York City, the Credit Suisse 27th Annual Energy Summit on March 1, 2022, in Vail, CO, and the Raymond James 2022 Institutional Investor Conference on March 8, 2022, in Orlando, FL. These events will provide opportunities for the company to engage with the financial community and promote its innovative solid oxide platform for energy generation.
Bloom Energy Corporation (NYSE: BE) reported a robust fourth quarter for 2021, achieving $342.5 million in revenue, a 37.3% increase from 2020. The company recorded 735 system acceptances, marking a 63.3% year-over-year rise. For the full year, revenue reached $972.2 million, up 22.4% from 2020, with a total of 1,879 system acceptances. However, GAAP gross margin decreased to 20.3% from 20.9%. Bloom raised its long-term revenue growth outlook to 30-35% over the next decade, projecting $1.1 - $1.15 billion in 2022 revenue.
Bloom Energy (NYSE: BE) is set to release its Q4 2021 and fiscal year 2021 financial results on February 10, 2022, after market close. This announcement will be followed by a conference call at 2:00 p.m. PT / 5:00 p.m. ET, where management will discuss the financial outcomes and the company's long-term outlook. Investors can access a replay of the call for one week after the event, and an extended version will be available on the company’s website for one year.
Bloom Energy Corporation (NYSE:BE) has appointed Rick Beuttel as vice president of hydrogen business to lead its commercial hydrogen strategy. Beuttel, with over 30 years of experience in energy and industrial sectors, will enhance collaborations to propel the global hydrogen economy. His former role at Air Products involved managing $8 billion in capital, focusing on hydrogen projects. This strategic appointment follows Bloom's initiatives to accelerate low-cost green hydrogen production and integration into natural gas networks, reinforcing its position in the energy sector.
Bloom Energy partners with India's Ministry of Power and NTPC Limited for the first green hydrogen energy storage project, aiming for carbon neutrality by 2070.
The project will utilize Bloom’s electrolyzer and hydrogen fuel cells to generate and store green hydrogen from a floating solar farm in Visakhapatnam. Expected to commence in 2022, this endeavor supports India's commitment to renewable energy and grid stabilization.
Bloom’s technology promises efficient hydrogen production, while facilitating a transition to a hydrogen-powered economy.
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