Energy innovator enters European market with
partnership that pushes boundaries of clean power at Ferrari’s
headquarters in Maranello, Italy
Bloom Energy (NYSE: BE) today set a new pace for Ferrari’s drive
to achieve carbon neutrality in manufacturing by 2030, announcing a
one megawatt (MW) installation of Bloom’s solid oxide fuel cells at
Ferrari’s expanding manufacturing facility and headquarters in
Maranello, Italy.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220623005335/en/
Ferrari CEO Benedetto Vigna and Bloom
Energy Founder, Chairman, and CEO, KR Sridhar in front of the new
Bloom Energy Server installation at Ferrari's headquarters and
manufacturing facility in Maranello, Italy. (Photo: Business
Wire)
The partnership with Ferrari, a global leader in the luxury and
automotive sectors for 75 years, marks Bloom’s entry into the
European Union and Italy and is the first step toward potentially
larger projects between the two companies.
Bloom Energy’s highly efficient platform converts fuels such as
hydrogen, biogas, or natural gas into clean electricity without
combustion. Through Bloom’s solid oxide platform, Ferrari is
expected to be able to reduce its fuel consumption and carbon
emissions at its manufacturing facility while unlocking cost and
sustainability benefits.
Operating at superior efficiencies, Bloom Energy Servers will
initially provide 5 percent of the energy needed at Ferrari’s
Maranello headquarters and manufacturing center.
The Bloom Energy Servers are expected to cut gas requirements by
around 20% from the combined heat and power (CHP) system now in use
at Ferrari, while also reducing emissions. This will enable Ferrari
to bolster energy conservation amid record-high energy prices,
while simultaneously reducing greenhouse gas emissions and
improving local air quality, with virtually zero harmful air
pollutant emissions such as sulfur oxides, nitrogen oxides, and
particulate matter.
“Ferrari is a legendary trailblazer in the luxury automotive
industry, and Bloom Energy commends their commitment to leading in
both operational excellence and carbon neutrality across their
entire value chain by 2030,” said KR Sridhar, founder, chairman,
and CEO, Bloom Energy. “By collaborating, we’re showcasing how
energy-intensive industries, such as manufacturing, can be
decarbonized through clean, reliable energy. Ferrari, like Bloom
Energy, has a commitment to uniqueness, innovation, technology
leadership, and continuous learning that makes them the ideal
partner for Bloom’s entry into the European manufacturing
landscape, where energy resilience is more crucial than ever. Bloom
Energy’s fuel cell platform is a best-in-class solution for a
best-in-class luxury automaker.”
Bloom Energy’s fuel-flexible platform also equips Ferrari to
lead the race in Italy’s emerging hydrogen economy. According to
Italy’s Ministry of Economic Development, the country plans to
cover a fifth of its overall energy demand from hydrogen by 2050.
The flexibility of Bloom’s platform will allow Ferrari to generate
carbon-free electricity from hydrogen and other zero-carbon fuel
sources.
For more information about Bloom Energy’s decarbonization
platform and the company’s commitment to a net-zero future, visit:
https://www.bloomenergy.com/technology/powering-the-future/
Forward-Looking Statements
This press release contains certain forward-looking statements
that are subject to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or our future
financial or operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “should,” “will” and “would” or the negative of these words
or similar terms or expressions that concern Bloom’s expectations,
strategy, priorities, plans or intentions. These forward-looking
statements include, but are not limited to, Bloom’s expectations
regarding the collaboration with Ferrari, including plans to
install solid oxide fuel cells at Ferrari’s Maranello plant, any
future collaborations, plans, or projects with Ferrari, and
benefits from the collaboration with Ferrari, such as reductions in
costs, fuel consumption (including gas requirements), and carbon
and greenhouse gas emissions, sustainability and energy
conservation improvements, carbon-free electricity or other
zero-carbon fuel generation, and progress towards any net-zero
emissions or decarbonization goals. More information on potential
risks and uncertainties that may impact Bloom’s business are set
forth in Bloom’s periodic reports filed with the SEC, including its
Annual Report on Form 10-K for the year ended December 31, 2021,
filed with the SEC on February 25, 2022, and its Quarterly Report
on Form 10-Q for the quarter ended March 31, 2022, filed with the
SEC on May 6, 2022, as well as subsequent reports filed with or
furnished to the SEC from time to time. Bloom assumes no obligation
to, and does not currently intend to, update any such
forward-looking statements.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly
take charge of their energy. The company’s leading solid oxide
platform for distributed generation of electricity and hydrogen is
changing the future of energy. Fortune 100 companies around the
world turn to Bloom Energy as a trusted partner to deliver lower
carbon energy today and a net-zero future. For more information,
visit www.bloomenergy.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220623005335/en/
Media Contact: Jennifer Duffourg 480.341.5464
jennifer.duffourg@bloomenergy.com
Investor Relations: Ed Vallejo 267.370.9717
Edward.Vallejo@bloomenergy.com
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