Bloom Energy (NYSE: BE) and SK ecoplant, an engineering and
energy solutions provider and subsidiary of South Korean
conglomerate SK Group, today announced a sale of Bloom’s
electrolyzer technology to deploy hydrogen as an energy source in a
large-scale green hydrogen demonstration with the Korea Southern
Power Co., Ltd (KOSPO) and local government.
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Seong Jun Bae, VP, Energy Business, SK
ecoplant, and Tim Schweikert, Head of Global Sales, Bloom Energy,
shake hands on an agreement to deploy Bloom's solid oxide
electrolyzer in the Jeju Island hydrogen demonstration. (Photo:
Business Wire)
The first-of-its-kind demonstration for South Korea, which will
commence in late 2025, includes 1.8 megawatts (MW) of Bloom’s
industry-leading Solid Oxide Electrolyzer (SOEC) technology to
develop green hydrogen at scale for use as transport fuel on Jeju
Island, South Korea. Jeju Island is known as a leading market for
renewable energy projects.
“The extension of our partnership with SK ecoplant to include
this deployment of Bloom’s SOEC is a logical step to show the
superior efficiency of our electrolyzers compared to other
technologies in the important South Korean market,” said KR
Sridhar, founder and chairman, CEO of Bloom Energy, Inc. “South
Korea has been a leader in policies enabling clean hydrogen, and
the efficiency and flexibility of Bloom’s SOEC will demonstrate our
commitment to the lowest cost green hydrogen for South Korea.”
SK and Bloom have a strategic relationship on a number of
projects in South Korea. For this project, SK and Bloom will
combine the Bloom Electrolyzer™ with SK’s engineered infrastructure
to produce hydrogen ready to be used as transport fuel.
“The results of this demonstration project will be crucial for
SK to advance in the electrolysis market and pursue green hydrogen
development projects domestically and internationally using Bloom's
Solid Oxide Electrolyzer Cell (SOEC),” said Kyung-il Park, CEO of
SK ecoplant. “This participation exemplifies a strategic
collaboration between SK and Bloom, expanding the scope of
cooperation from power generation (fuel cell) to global green
hydrogen development projects, further strengthening the strategic
partnership between the two companies."
The demonstration includes a consortium of companies and
technologies. The Bloom Electrolyzer was chosen for its
industry-leading high electrical efficiency, enabling KOSPO and the
collaborators to achieve the highest efficiency results.
Jeju Island’s “Carbon Free Island 2030” project aims to fully
convert all vehicles and electricity generation to renewables by
2030. Hydrogen generated from this project will be used to advance
that goal, demonstrating an alternative way to provide renewable
and sustainable energy by helping supply green hydrogen to hydrogen
refueling stations to power public vehicles.
Using geographic characteristics of Jeju, known for its wind
power and abundant natural resources, the consortium is undertaking
to build and operate the nation’s largest 12.5MW-scale hydrogen
production facilities, including other electrolyzer technologies.
The consortium aims to produce green hydrogen, secure economic
viability in distribution, and establish a foundation for
commercialization.
Launched in 2018, the strategic partnership between Bloom Energy
and SK ecoplant has strengthened their respective market leadership
positions in power generation and the global hydrogen economy. SK
ecoplant will be a preferred distributor globally for Bloom Energy
solid oxide fuel cells (SOFC) and SOEC in markets where SK ecoplant
has a significant presence and competitive advantage. Bloom Energy
and SK ecoplant have deployed 400 MW since the beginning of the
partnership.
For more information about Bloom Energy’s platform and the
company’s commitment to a zero-carbon future, see:
https://www.bloomenergy.com/technology/
Forward Looking Statements
This press release contains certain forward-looking statements,
which 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, expectations for a
successful demonstration between the companies; expected hydrogen
produced during the project; the expected use of the hydrogen as
fuel for transport; the scope and terms of the proposed
partnership, and the ability of the companies to fortify their
market leadership positions. 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, 2022, filed
with the SEC on February 21, 2023 and its Quarterly Reports on Form
10-Q for the quarters ended March 31, 2023, June 30, 2023, and
September 30, 2023, as filed with the SEC on May 9, 2023, August 3,
2023, and November 8, 2023, respectively, as well as subsequent
reports filed with or furnished to the SEC from time to time. Bloom
assumes no obligation to, and does not 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.
About SK ecoplant
SK ecoplant is the environment and energy arm of SK Group and is
leading the group’s future ESG business as a global environmental
and energy company. By integrating AI and digital transformation
into its entire value chain of the environmental business, SK
ecoplant is upgrading its business and accelerating the expansion
of its operation to the global market from its global operation
base in Southeast Asia.
It has grown rapidly in the waste battery recycling sector and
renewable energy sectors, including hydrogen, fuel cells, offshore
wind power and photovoltaic power. It is also committed to
ESG-oriented management for sustainable growth, leading the efforts
to solve global environmental and energy issues and achieve a
circular economy for zero waste and net zero.
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Investor Relations Ed Vallejo Bloom Energy +1 (267)
370-9717
Media Contacts Amanda Song Bloom Energy
press@bloomenergy.com
David Park SK ecoplant pkm@sk.com
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