Bloom Energy - Wikipedia

Bloom Energy is a public company headquartered in San Jose, California. It manufactures and markets solid oxide fuel cells that produce electricity on-site. BloomEnergy FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Americanfuelcellcompany BloomEnergyTypePublicTradedasNYSE: BE(ClassA)Russell2000IndexcomponentIndustryalternativeenergyindustry Founded2001FounderK.RSridhar(CEO),JohnFinn,MatthiasGottmann,JamesMcElroy,DienNguyenHeadquartersNorthSanJoseInnovationDistrict,SanJose,California,USAKeypeopleK.R.Sridhar(founder,CEO)ProductsSolidoxidefuelcellsRevenue$742million(2018)[1]: 37 Netincome−$259.49million(2018)[1]: 37 Totalassets$1.389billion[1]: 37 OwnerKuwaitInvestmentAuthority(10.73%)NewEnterpriseAssociates(8.78%)AlbertaInvestmentManagementCorp.(7.53%)AdvancedEquitiesFinancialCorp.(6.55%)[2]Numberofemployees1,700[1]: 10 Websitewww.bloomenergy.com BloomEnergyisapubliccompanyheadquarteredinSanJose,California.Itmanufacturesandmarketssolidoxidefuelcellsthatproduceelectricityon-site.Thecompanywasfoundedin2001andcameoutofstealthmodein2010.Itraisedmorethan$1billioninventurecapitalfundingbeforegoingpublicin2018.Itsfuelcellsaresubsidizedbygovernmentincentiveprogramsforgreenenergy.Asof2020,Bloomhadinstalledabout600megawattsworthoffuelcells. Contents 1Corporatehistory 2Productsandservices 3Seealso 4References 5Externallinks Corporatehistory[edit] BloomEnergywasfoundedin2001[3]underthenameIonAmericabeforebeingrenamedBloomEnergyin2006.[4]Thecompanyworkedinsecretfor8yearsbeforecomingoutofstealthmodein2010.[4]AccordingtotheSanFranciscoChronicle,thatyearBloomhad"acoming-outpartypackedwithpoliticiansandSiliconValleyelite."[3][5]Thecompanywasfeaturedon60Minutesandsupportedbypoliticalfigures.[6]Atthattime,Bloomhadraised$400millioninfundingandhad300employees. BloomEnergytracesitsrootstoworkperformedbyKRSridharinconnectionwithcreatingatechnologytoconvertMartianatmosphericgasestooxygenforpropulsionandlifesupport.SridharandhisteambuiltanelectrochemicalcellforNASAcapableofproducingairandfuelfromelectricitygeneratedbyasolarpanel. In2011,Bloomwasvaluedat$2.9billion.[7][8]Initially,thecompanyproducedaboutonefuelcellapplianceperday[9]beforeopeningafactoryinNewark,DelawareinApril2012.[10]By2013,itraised$1.1billioninfunding,[2]whichwasfollowedbyadditionalfundingroundsin2014and2015.[2] Bloom'srevenuesgrewrapidlybutitwasunprofitable,insomeyearslosingmorethan$200million.[3][11]In2011,Bloomstartedsellingtheelectricityproducedbyitsunits,ratherthantheunitsthemselves,frontingthecostsofmanufacturingthefuelcells.[12][13][11]Afederalsubsidyforfuelcellsexpiredin2016[8]andtheCaliforniaSelf-GenerationIncentiveProgramwasdiscontinuedthefollowingyear[8][14]asthestatefocuseditssubsidiesonbatteries.[5] Federalsubsidieswerere-instatedin2018.[8]BloomfiledaninitialpublicofferingthatJuly,statingthatitdidnotexpecttobeprofitableinthenear-termanddisclosingalegalsettlementwithsomeofitsinvestors.[2][15][16]Laterthatyear,BloommovedheadquarterstoSanJose.[17] InthefirsttwoyearssinceitsIPO,Bloomshareslostnearly50%oftheirvalue;thecompanyhasnotbeenprofitableinitsfirst19 yearsofoperationandhadraisedover$1.7billionincapital.[18] InJuly2019,DukeEnergycorporationannouncedtheintentionofacquiringaportfolioofdistributedfuelcelltechnologyprojectsfromBloomEnergy.[19][20] Productsandservices[edit] DuringtheCOVID-19pandemic,BloomEnergyrefurbishedventilatorsfortheStateofCaliforniatouseintreatmentofthevirusin2020. BloomEnergyproducessolidoxidefuelcellpowergeneratorscalledBloomEnergyServersthatusenaturalgasorbiogasasfuel.[8][21]AccordingtoTheNewYorkTimes,solidoxidefuelcellsare"consideredthemostefficientbutmosttechnologicallychallengingfuel-celltechnology."[22]Insteadofpreciousmetals,BloomEnergy'sfuelcellsusewafersmadefromsandthatarestainedwithproprietaryink.[21][22]Asfuelpassesoverthesandwafers,itmixeswithoxygen,creatingachemicalreactionthatproduceselectricity.[22][23]Thechemicalreactiontakesplaceatabout800degreesCelsius(1,500degreesFahrenheit).[4][23] Bloomsellsthepowerfromtheunitsfor5-15%lessthanbuyingpowerfromthegrid,ratherthansellingtheunitsthemselves.[3][24]Thegeneratorsarenormallyusedforlargebuildings,manufacturingfacilities,ordatacenterstoproducepoweron-site.[17][24] Thefuelcellsarehousedinmetalcabinets.[11]Eachoneproducesabout200to300kilowattsofelectricity.[3]Asof2018,Bloomhadinstalledabout300megawattsofunits.[25]DatafromthestateofDelawarefoundthatBloom'sfuelcellsproduceabout823poundsofcarbondioxidepermegawatthour.[26]Thisislessthanthe~1,000poundsproducedwhenpoweristakenfromtheelectricalgrid,butmorethanthe777Bloomusedtoadvertisewithouttakingintoconsiderationthedecliningefficiencyoftheapplianceswithage.[26]Asof2018data,theU.S.EnergyInformationAdministrationreportscoalproducing2,210poundsofCO2permegawatthour,andnaturalgasat920poundspermegawatthour.[27] Seealso[edit] BloomEnergyServer References[edit] ^abcd201910-k(PDF),BloomEnergy ^abcdJohn,JeffSt.(June14,2018)."BloomEnergy'sS-1bytheNumbers".GreentechMedia.RetrievedApril4,2019. ^abcdeBaker,David(July25,2018)."BloomEnergy,SiliconValleyfuel-cellunicorn,hasahigh-poweredIPO".SFChronicle.com.RetrievedApril4,2019. ^abcHull,Dana(February24,2010)."BloomEnergyunveilsits'BloomBox'fuelcell".TheMercuryNews.RetrievedApril3,2019. ^abFehrenbacher,Katie(October6,2016)."SiliconValleyfuelcellmakerBloomEnergyhasfiledforanIPO".Fortune.RetrievedApril4,2019. ^Pressman,Aaron;Lashinsky,Adam(June18,2018)."Whytheprideofgreentechstartupsisgoingpublic".Fortune.RetrievedApril4,2019. ^John,JeffSt.(March22,2018)."WhatarumoredIPOwouldmeanforBloomEnergy".GreentechMedia.RetrievedApril4,2019. ^abcdeChernova,Yuliya(March19,2018)."BloomEnergy'sIPOplanisbackontrack".WSJ.RetrievedApril4,2019. ^Reddall,Braden(October14,2010)."BloomEnergypoisedtoproduceoneboxaday".U.S.RetrievedApril4,2019. ^LaMonica,Martin(April30,2012)."AppledatacenterhelpsfuelBloomEnergymovetoeastcoast".CNET.RetrievedApril4,2019. ^abcSverdlik,Yevgeniy(February21,2019)."CanBloomEnergytransformthedatacenterindustry?".DataCenterKnowledge.RetrievedApril4,2019. ^Eaton,Kit(January21,2011)."NowyoucanbuyBloomEnergy'smysticalfuelcellelectricitywithoutanygizmos".FastCompany.RetrievedApril4,2019. ^Kanellos,Michael(January20,2011)."BloomEnergy'sfuelcells-as-a-service:dotheeconomicswork?".GreentechMedia.RetrievedApril4,2019. ^Nguyen,Vicky;Wagner,Liz;Villarreal,Mark(March31,2016)."Incentivemoneyforfuelcellmakersmayend".NBCBayArea.RetrievedApril4,2019. ^Farrell,Maureen(July25,2018)."Clean-techcompanyBloomEnergysoars68%intradingdebut".WSJ.RetrievedApril4,2019. ^Chernova,Yuliya(July24,2018)."OneveofIPO,BloomEnergyfacesquestionsaboutsettlementwithinvestors".WSJ.RetrievedApril4,2019. ^abAvalos,George(April27,2018)."BloomEnergystrikesdealtoshiftHQtonorthSanJose".TheMercuryNews.RetrievedApril4,2019. ^Helman,Christopher(February13,2020)."TheForbesInvestigation:HowBloomEnergyBlewThroughBillionsPromisingCheap,GreenTechThatFallsShort".Forbes.RetrievedMarch8,2020. ^"DukeEnergyArmtoAcquireBloomEnergy'sFuelCellProjects".ph.news.yahoo.com.Retrieved2020-03-26. ^"DukeEnergyArmtoAcquireBloomEnergy'sFuelCellProjects".www.nasdaq.com.Zacks.July2,2019.Retrieved2020-12-31. ^abBaker,DavidR.(February25,2010)."BloomEnergyunveils'powerplantinabox'".SFGate.RetrievedApril3,2019. ^abcWoody,Todd(February24,2010)."BloomEnergyclaimsanewfuelcelltechnology".TheNewYorkTimes.RetrievedApril4,2019. ^abSchwartz,Ariel(February25,2010)."HowdoestheBloomBoxenergyserverwork?".FastCompany.RetrievedApril4,2019. ^abChernova,Yuliya(January20,2015)."BloomEnergycontinuescapitalbuildupwith$130Million".WSJ.RetrievedApril4,2019. ^"BloomEnergyfilesforIPO,expectsdatacenterbusinesstogrow".DataCenterKnowledge.June13,2018.RetrievedApril25,2019. ^abNguyen,Vicky;Wagner,Liz;Villarreal,Mark(October20,2014)."IsBloomEnergygreenwashingthepublic?".NBCBayArea.RetrievedApril4,2019. ^"FrequentlyAskedQuestions".EIA.March10,2020.RetrievedMarch10,2020. Externallinks[edit] WikimediaCommonshasmediarelatedtoBloomEnergy. 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