Bloom Energy (NYSE: BE) (Bloom), a global leader in solid oxide
fuel cell technology, announced today a groundbreaking
collaboration with Sembcorp Industries (Sembcorp) at the sidelines
of the 2024 Clean Economy Investor Forum, organized under the
auspices of the Indo-Pacific Economic Framework (IPEF). The
Bloom-Sembcorp collaboration will involve Sembcorp’s potential
utilization of Bloom’s proprietary solid oxide fuel cell technology
and third-party proven carbon capture technologies to produce
reliable, low-carbon electricity to meet Singapore’s changing
energy needs.
This collaboration aligns with Singapore’s recent launch of the
Green Data Centre Roadmap, where one of the goals is to develop
sustainable data centers with a greater use of green energy1.
Bloom’s fuel cell Energy Server product, when integrated with
carbon capture, will provide low-carbon power to the data centers.
The same system can potentially deliver green energy in the future,
tapping on low-carbon feedstock. The Energy Servers can also be
deployed as a grid parallel system in conjunction with utility
power, mitigating grid constraints.
Headquartered in Singapore, Sembcorp has a balanced energy
portfolio of 21.2GW, including 14.4GW of gross renewable energy
capacity, across 10 countries. The company delivers sustainable
solutions to drive energy transition by leveraging its sector
expertise and global track record.
“The Bloom-Sembcorp collaboration will have lasting impacts on
multiple levels,” said KR Sridhar, Bloom Energy’s Founder, Chairman
& CEO. “Singapore’s established position as a high-tech
manufacturing hub will be further cemented as Bloom and Sembcorp
provide the low-carbon electricity from the high-tech solid oxide
fuel cells coupled with proven carbon capture technologies. The use
of carbon capture technology will support Singapore’s progress
towards achieving its net-zero emissions target by 2050. We believe
this will serve as a model for the broader region, and the
world.”
Koh Chiap Khiong, CEO, Singapore & Southeast Asia at
Sembcorp, said, “Through the collaboration with Bloom Energy,
Sembcorp aims to support our customers with low-carbon energy
through the deployment of solid oxide energy systems. The demand
for green energy is expected to have robust growth, especially in
the area of data centers.”
ABOUT BLOOM ENERGY
Bloom Energy’s mission is to make clean, reliable energy
affordable for everyone in the world. Bloom Energy’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.
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 the
planned collaboration, including the planned CCUS projects. 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 collaboration and CCUS projects, and other
risks and uncertainties detailed in Bloom’s SEC filings. 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.
Bloom assumes no obligation to, and does not intend to, update any
such forward-looking statements.
ABOUT SEMBCORP INDUSTRIES (Company registration:
199802418D)
Sembcorp Industries (Sembcorp) is a leading energy and urban
solutions provider, led by its purpose to drive energy
transition.
Headquartered in Singapore, Sembcorp delivers sustainable
solutions to support energy transition and urban development by
leveraging its sector expertise and global track record.
Sembcorp has a balanced energy portfolio of 21.2GW including
14.4GW of gross renewable energy capacity, across 10
countries*.
Its urban development projects span over 14,000 hectares across
Asia and have generated over 377,000 employment opportunities and
attracted close to US$50 billion of investment capital.
Sembcorp is listed on the main board of the Singapore Exchange.
It is a constituent stock of FTSE Russell Index, MSCI Singapore
Index, Straits Times Index as well as sustainability indices
including FTSE4Good Index, iEdge Sg ESG indices and several MSCI
ESG indices.
For more information, please visit www.sembcorp.com.
1 IMDA: Charting green growth pathways at scale for data centres
in Singapore
* Total gross capacity assumes 100% ownership of assets,
including projects secured and under construction, and an
acquisition pending completion.
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version on businesswire.com: https://www.businesswire.com/news/home/20240606727000/en/
Bloom Energy
Investors: Ed Vallejo Email:
investor@bloomenergy.com
Media:
Email: press@bloomenergy.com
Sembcorp Industries
Analysts: Ling Xin Jin (Ms) Head Group Corporate
Communications and Investor Relations DID: +65 6723 3384 Email:
ling.xinjin@sembcorp.com
Media: Karin Xiao (Ms) Deputy Head
Group Corporate Communications and Investor Relations DID: +65 6723
3140 Email: karin.xiao@sembcorp.com
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