Bloom Energy Corporation (NYSE: BE) was founded on January 18, 2001, formerly known as Ion America Corporation, and was changed to its current name on September 20, 2006, with its headquarters in Sunnyvale, California, USA, with 1,524 full-time employees, the company aims to provide clean, reliable and affordable energy for all people in the world, and designs, manufactures and sells solid oxide fuel cell systems for on-site power generation .
Bloom Energy Corporation (BE):
In order to complete the mission of “providing clean, reliable and affordable energy for all people around the world,” Bloom Energy Corporation has developed a distributed on-site power solution that redefines the $2.4 trillion electricity market and changes Generation and power delivery methods. The commercial and industrial (C&I) market segments are the focus of the company’s attention.
Bloom Energy’s solution, Bloom Energy Server, is a stationary power generation platform designed specifically for the digital age. It can provide highly reliable, uninterrupted 24×7 constant (or base load) power while maintaining clean and sustainable development. Bloom Energy Server converts standard low-pressure natural gas or biogas into electrical energy through an electrochemical process without burning. Compared with traditional fossil fuel power generation, it has higher conversion efficiency and lower harmful emissions.
The standard configuration of Bloom Energy Server can generate 250 kilowatts of power, and its floor space is about half the size of a standard 30-foot container, which saves about 125 times the space of solar power. And 250 kilowatts of power is roughly equivalent to the constant power requirements of a typical large retail store. Moreover, any number of Bloom Energy Server systems can be connected in various configurations to form solutions ranging from hundreds of kilowatts to tens of megawatts.
Bloom Energy Corporation serves banking and financial services, cloud services, technology and data centers, communications and media, consumer and consumer products, education, government, healthcare, hotels, logistics, manufacturing, real estate, retail, and utilities. Some of the company’s largest customers include: AT&T , Caltech, Delmarva Power & Light Company, Equinix , Home Depot , Kaiser Permanente and The Wonderful Company.
In addition, Bloom Energy is also actively working with financing partners such as The Southern Company to purchase the company’s systems, which are deployed in the end customer’s facilities to provide electricity as a service. In 2017, the company’s largest customer was Southern Company , which provided energy services to a large number of end customers and Delmarva. As of March 31, 2018, the company’s customer base includes 25 Fortune 100 companies, including: Walmart , Staples , AT&T , Adobe , Coca-Cola , eBay , Google , Bank of America , FedEx , Life Technologies, Safeway (Western Driveway, hi reciprocity), Yahoo! , the Apple and at The Home Depot .
Bloom Energy Corporation’s solutions can meet the needs of customers in various vertical industries. The industries the company currently serves include banking and financial services, cloud services, technology and data centers, communications and media, consumer and consumer products, education, government, healthcare, hotels, logistics, manufacturing, real estate, retail and utilities. Bloom Energy believes that only a small part of the huge market has been developed, which provides a broad space for the company’s development. In addition, as the company’s product prices fall and grid power prices rise, the company’s products will have more markets for use.
As of March 31, 2018, the total number of systems deployed by Bloom Energy Corporation was 312 MW, with an average annual growth rate of approximately 25% since 2014. Furthermore, as of March 31, 2018, the company has an additional backlog of 108.2 MW pending production.
Bloom Energy Corporation (BE) History:
- In October 2001, KR Sridhar asked John Doerr of Kleiner Perkins, a venture capital firm, for an investment of $100 million to start the company. In the end, Bloom Energy received $400 million in initial funding from Kleiner Perkins and Vinod Khosla.
- In September 2006, Ion America Corporation changed its name to Bloom Energy Corporation.
- In July 2014, Bloom Energy announced the establishment of a “long-term strategic partnership” with Exelon Corporation, the largest nuclear power company in the US , to provide “fuel cell projects” for 75 commercial facilities in California, Connecticut, New Jersey and New York. .
- In October 2016, the power company Southern Company announced that its subsidiary PowerSecure was purchasing 50 MW of fuel cells from Bloom Energy. PowerSecure will use lithium-ion batteries to encapsulate fuel cells, aiming to sell the technology and related infrastructure to corporate and industrial customers through long-term contracts. PowerSecure’s technology can help companies maintain operations during power outages. These devices are eligible for California battery subsidies, enabling customers to reduce electricity consumption on the grid during peak hours.
Bloom Energy Corporation (BE) investment:
Bloom Energy Corporation (Bloom Energy Corporation) Bloom Energy Corporation (NYSE: BE) submitted its IPO prospectus on 6/12/2018 and listed on the NYSE on 7/25/2018 with an issue price of US$15.00 and an issue of 1800 Ten thousand shares, raised 270 million US dollars, JP Morgan / Morgan Stanley / Credit Suisse / KeyBanc Capital Markets / BofA Merrill Lynch joint underwriting.