- Companies will jointly explore development of integrated
technologies for efficient and resilient power solutions for energy
and industrial sectors globally
- Collaboration also covers integrated technology solutions to
advance hydrogen economy
Bloom Energy (NYSE: BE), a leader in distributed energy, and
Baker Hughes (NYSE: BKR), an energy technology company, have
announced and agreed to collaborate on the potential
commercialization and deployment of integrated, low carbon power
generation and hydrogen solutions to advance the energy
transition.
Baker Hughes and Bloom Energy will begin collaborating on
potential customer engagements immediately, with the objective of
launching pilot projects over the next 2-3 years and fully
commercializing and scaling applications, products and solutions
shortly thereafter. The companies will focus efforts in three
areas:
Integrated power solutions: By leveraging Bloom Energy’s
solid oxide fuel cell technology (SOFC) and Baker Hughes’
light-weight gas turbine technology, the companies intend to
provide efficient, resilient, and cost-effective solutions for
cleaner energy generation, waste heat recovery, and grid
independent power for customers.
Bloom Energy’s efficient and low emissions SOFCs, Baker Hughes’
efficient and flexible NovaLT gas turbines – which can run on up to
100% hydrogen - along with heat recovery turbines can create
resilient microgrids ideal for large-scale applications.
Integrated hydrogen solutions: The companies will explore
opportunities to pair Bloom Energy’s solid oxide electrolyzer cells
(SOEC) that can produce 100% clean hydrogen with Baker Hughes’
compression technology for efficient production, compression,
transport, and delivery of hydrogen. Waste heat utilization for
steam generation will also be assessed to further increase
efficiency and cost effectiveness of hydrogen production. The
companies will target applications such as blending hydrogen into
natural gas pipelines, as well as on-site hydrogen production for
industrial use. These efforts are geared toward accelerating the
transition to the hydrogen economy.
Bloom Energy’s SOEC technology coupled with Baker Hughes’
compression technology could facilitate faster adoption of hydrogen
in process industries such as steel refining, where the use of heat
recovery from the steel-making process could deliver higher overall
system efficiencies and customer value.
Mutual technical collaborations: The companies will
assess opportunities to leverage Baker Hughes’ broad technology
portfolio and Bloom Energy’s SOFC and SOEC solutions. In addition
to hydrogen and clean power, areas of collaboration may include
carbon capture and emissions monitoring technologies, digital
solutions, and additive manufacturing capabilities.
“The path to net-zero carbon emissions must include partnerships
and collaboration,” said Uwem Ukpong, executive vice president of
regions, alliances, and enterprise sales at Baker Hughes. “At the
core of our collaboration agreement with Bloom Energy is the
potential to develop integrated technology offerings for
commercialization and deployment of smarter, cleaner, and more
economic energy solutions. It’s a great example of how Baker Hughes
is strategically pursuing ways to advance new energy frontiers and
invest for growth in the industrial marketplace.”
“We believe that in combining our industry-leading technologies
and expertise to provide differentiated and customized integrated
solutions to customers, we can accelerate the adoption of clean
energy technologies,” said Azeez Mohammed, executive vice president
of international business for Bloom Energy. “This collaboration
will serve as a model of how we need to look for innovative ways in
which we can work together and integrate technologies and
capabilities to achieve our common goals for global decarbonization
and resiliency.”
Baker Hughes is a leader in turbomachinery solutions designed
for a wide variety of applications across the energy value chain
and providing fuel flexibility. For hydrogen, Baker Hughes provides
compression and energy conversion technology and services that are
used across the value chain worldwide, including production,
transportation and utilization. Bloom Energy’s modular and
fuel-flexible energy server platform can use biogas and hydrogen,
in addition to natural gas, to create electricity at significantly
higher efficiencies than traditional resources. In addition, Bloom
Energy’s fuel cell technology can be used to create hydrogen, which
is increasingly recognized as a critically important tool to enable
the full decarbonization of the energy economy.
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy
affordable for everyone in the world. The company’s product, the
Bloom Energy Server, delivers highly reliable and resilient,
always-on electric power that is clean, cost-effective, and ideal
for microgrid applications. Bloom Energy’s customers include many
Fortune 100 companies and leaders in manufacturing, data centers,
healthcare, retail, higher education, utilities, and other
industries. For more information, visit www.bloomenergy.com.
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that
provides solutions to energy and industrial customers worldwide.
Built on a century of experience and with operations in over 120
countries, our innovative technologies and services are taking
energy forward – making it safer, cleaner and more efficient for
people and the planet. Visit us at www.bakerhughes.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws that involve risks and
uncertainties. Words such as “anticipates,” “could,” “expects,”
“intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,”
“can,” “may,” “will,” “would” and similar expressions identify such
forward-looking statements. These statements include, but are not
limited to, expectations regarding the collaboration efforts
between the two companies; expectations related to potential
integrated power solutions, integrated hydrogen solutions and other
mutual technical solutions; and the companies’ ability to
successfully commercialize and scale any potential applications.
These statements should not be taken as guarantees of results and
should not be considered an indication of future activity or future
performance. Actual events or results may differ materially from
those described in this press release due to a number of risks and
uncertainties, including those included in the risk factors section
of Bloom Energy’s Annual Report on Form 10-K for the year ended
December 31, 2020 and other risks detailed in Bloom Energy’s SEC
filings from time to time. Bloom Energy undertakes no obligation to
revise or publicly update any forward-looking statements unless if
and as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210505006083/en/
For Bloom Energy:
Media Relations Erica Osian +1 401-714-6883
Erica.Osian@bloomenergy.com
Investor Relations investor@bloomenergy.com
For Baker Hughes:
Media Relations For Baker Hughes: Tom Millas +1
713-879-2862 Thomas.Millas@bakerhughes.com
Investor Relations Jud
Bailey +1 281-809-9088 investor.relations@bakerhughes.com
Bloom Energy (NYSE:BE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bloom Energy (NYSE:BE)
Historical Stock Chart
From Sep 2023 to Sep 2024