Bloom Energy Inc. Signs Agreements with Shell to Investigate Opportunities for Innovative Large-Scale, Renewable Hydrogen Energy Projects
March 06 2024 - 9:02AM
Business Wire
Bloom’s engagement with Shell will help the advancement of
decarbonization opportunities for emergent SOEC technology.
Bloom Energy Inc. (NYSE:BE) is teaming up with Shell Plc.
(Shell) to study decarbonization solutions, utilizing Bloom’s
proprietary hydrogen electrolyzer technology.
Bloom and Shell will collaborate with the goal of developing
replicable, large-scale, solid oxide electrolyzer (SOEC) systems
that would produce hydrogen for potential use at Shell assets.
“This technology could represent a potentially transformative
moment for opportunities to decarbonize several hard to abate
industry sectors,” said KR Sridhar, founder, chairman, and CEO of
Bloom Energy. “As the world leader in solid oxide electrolyzer
technology, we are poised to provide customers around the world
with our proprietary, American-made energy technology to both
reduce carbon footprint and sustain economic growth.”
Bloom’s SOEC technology can produce clean hydrogen at scale to
augment or replace existing fossil fuel-powered “grey” hydrogen
supplies produced at refineries by high carbon dioxide-emitting
steam-methane reformation. Clean or “green” hydrogen is produced
from water electrolysis, using renewable energy, essentially
eliminating greenhouse gas emissions.
Demand for the Bloom Electrolyzer®, which is manufactured in
California and Delaware, has been growing given the increased
interest in the low carbon economy. According to an independent
analysis, Bloom now has the largest operating electrolyzer
manufacturing capacity in the world of any electrolysis technology,
double that of its closest rival. It staged a highly successful
demonstration commencing in May of this year with the world’s
largest solid oxide electrolyzer, with a capacity of 4 Megawatts,
where it produced 2.4 metric tons of hydrogen per day at the NASA
Ames research facility in Mountain View, California. The
high-temperature, high-efficiency unit produced significantly more
hydrogen per megawatt (MW) than commercially demonstrated lower
temperature electrolyzers such as proton electrolyte membrane (PEM)
or alkaline.
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.
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; amounts of hydrogen
that may be produced during the project; and the scope and terms of
the proposed partnership. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual future events or results due to a variety of
factors including, but not limited to, developments in the hydrogen
and energy markets, Bloom’s ability to deploy its electrolyzer
technology at scale, and other risks and uncertainties detailed in
Bloom’s SEC filings from time to time. 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, 2023, filed with the SEC on February 15, 2024, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240306835639/en/
Media Amanda Song press@bloomenergy.com
Investors Ed Vallejo investor@bloomenergy.com
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