Bloom Energy Launches Series 10 Net-Zero Compliant Solution, Accelerating Adoption of Clean Power Generation
July 24 2023 - 7:00AM
Business Wire
- Ground-breaking, 10MW on-site offering with 100% guaranteed
power
- Short five-year term
- Flat pricing as low as 9.9 cents/kWh*
Bloom Energy (NYSE:BE), a fuel cell innovator that has deployed
over 1 GW of clean, reliable power, is launching Series 10 — a
ground-breaking, 10MW fuel cell offering with a five-year,
flat-rate contract shipped in just 50 days, disrupting the
traditional electricity-buying model. The Series 10 Bloom Energy
Server enables customers to rapidly meet growing power needs and
net-zero compliance at competitive costs and without committing to
a long-term contract or worrying about cost increases.
“Bloom Energy is a proven innovator and market leader in
offering distributed power generation that is clean and reliable,”
said KR Sridhar, Founder and CEO of Bloom Energy. “We are now
disrupting the buying model in the industry with proven technology
and a first of its kind offering that will enable business leaders
to take control of their power needs and protect their enterprises.
We are lowering the barrier to entry with Series 10, which quickly
deploys clean power at an affordable flat rate.”
The transition to net zero has created challenges across all
industries, threatening energy security, availability, and
resiliency. Businesses and communities have witnessed steep price
increases, lack of power availability, and long-duration power
outages. Customers are seeking rapid power capacity increases to
grow their businesses with flexible options that will not bind them
to long-term contracts.
The 10 MW block design of the Series 10 optimizes cost,
deployment speed, and operations by building on Bloom Energy’s
proven modular Energy Server technology. Starting from $0.099/kWh*,
the Energy Server can be shipped within 50 days for the shortest
contract commitment to date — five years. The offer includes
maintenance and 24/7 monitoring. Optional add-ons include microgrid
and combined heat and power (CHP) compatibility.
Unlike intermittent technologies, the Series 10 offering
guarantees 100% output for the duration of the term, which at 10 MW
provides enough energy to power the equivalent of 8,000 homes. The
Bloom Energy Server generates electricity through an
electrochemical process rather than combustion, nearly eliminating
harmful air pollutants that cause severe respiratory diseases and
poor air quality. The Energy Server is net-zero compliant and can
operate on hydrogen, responsibly sourced natural gas, renewable
natural gas, or blends of these fuels.
“We’ve heard from customers that they need power now and
flexibility through the energy transition,” said Tim Schweikert,
Head of Global Sales at Bloom Energy. "With a short, five-year
term, this offering fits the needs of a wide array of industries —
from data centers to health care to utilities – and will change the
way businesses buy power.”
Bloom leads the U.S. stationary fuel cell industry with roughly
95% of the market share of installed fuel cell capacity since 2018,
delivering a powerful combination of resiliency, predictability,
and sustainability.
For more information about Bloom Energy’s solutions, see
https://www.bloomenergy.com/technology/.
*Final rates determined by any applicable state and local taxes
and fuel pricing.
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: expected features,
output and benefits of Bloom’s solid oxide fuel cell technology and
the Series 10 offering; transformation of the way businesses buy
power; and electricity demand. 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 Report on Form
10-Q for the quarter ended March 31, 2023, filed with the SEC on
May 9, 2023, 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 the latest news and
announcements on Bloom Energy, visit
https://newsroom.bloomenergy.com/.
For more information on Bloom Energy, visit
https://www.bloomenergy.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20230724198408/en/
Media Contact: press@bloomenergy.com
Investor Relations: Ed Vallejo 267.370.9717
Edward.Vallejo@bloomenergy.com
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