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Bloom Energy Corporation - $BE STOCK NEWS

Welcome to our dedicated page for Bloom Energy Corporation news (Ticker: $BE), a resource for investors and traders seeking the latest updates and insights on Bloom Energy Corporation stock.

Bloom Energy Corporation (NYSE: BE) is a leading provider of innovative and efficient on-site primary power generation systems. The company's hallmark product, the Bloom Energy Server, utilizes proprietary solid-oxide fuel cell technology initially developed for NASA's Mars program. This cutting-edge technology offers businesses a reliable, cleaner, and cost-effective alternative to the traditional electric power grid. The Energy Servers are capable of using natural gas, biogas, and hydrogen to generate constant, 24/7 electricity for various stationary applications.

Bloom Energy's commitment to reducing greenhouse gas emissions and lowering operating costs has attracted a prestigious client base that includes several Fortune 500 companies such as Google, Walmart, AT&T, eBay, and The Coca-Cola Company. Additionally, notable non-profit organizations like Caltech and Kaiser Permanente are leveraging Bloom's technology to enhance their energy resiliency and sustainability.

In recent years, Bloom Energy has expanded its technological horizons by announcing plans to enter the electrolyzer market, applying its cutting-edge fuel cell technology to create sustainable hydrogen fuel. This strategic move underscores Bloom Energy's ongoing commitment to innovation and environmental stewardship.

Financially, Bloom Energy has secured significant investments and partnerships, including being the first clean energy technology venture backed by prominent investment firms Kleiner Perkins and NEA. The company primarily markets its systems in the United States and South Korea, positioning itself as a pivotal player in the global energy landscape.

The latest news highlights Bloom Energy's groundbreaking projects and partnerships, reflecting its position as a trailblazer in the clean energy sector. Stay tuned for the latest updates and developments about Bloom Energy on StockTitan.

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Bloom Energy (NYSE: BE) has appointed Gary Pinkus, Chairman of McKinsey & Company in North America, to its Board of Directors. Pinkus brings nearly 40 years of experience in governance, leadership, and executive roles, primarily at McKinsey & Company. He co-founded and led the global Private Equity & Principal Investors practice and has advised numerous energy companies on their path to net-zero emissions.

KR Sridhar, CEO of Bloom Energy, expressed confidence in Pinkus' ability to support the company's next stage of global growth. Pinkus has chaired McKinsey's Senior Partners Committee since 2019 and holds degrees from Stanford University and Harvard Business School.

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Bloom Energy (NYSE: BE) and Sembcorp Industries announced a collaboration at the 2024 Clean Economy Investor Forum to provide low-carbon electricity in Singapore. Sembcorp plans to use Bloom's solid oxide fuel cell technology and third-party carbon capture technologies to meet Singapore's energy needs. This initiative aligns with Singapore's Green Data Centre Roadmap, aiming to develop sustainable data centers. Bloom's Energy Server, integrated with carbon capture, will offer low-carbon power to data centers, and potentially deliver green energy using low-carbon feedstock. The collaboration supports Singapore's goal of achieving net-zero emissions by 2050.

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Bloom Energy (NYSE: BE) has announced the pricing of its upsized $350 million Green Convertible Senior Notes offering. The notes, set to mature in 2029, carry a 3.00% annual interest rate and are convertible into Class A common stock under certain conditions. The initial conversion price is approximately $20.84 per share, a 32.5% premium over the current share price. The offering size was increased from the previously announced $250 million. Settlement is expected on May 29, 2024. Net proceeds are estimated at $338.8 million, with $141.8 million allocated to repurchase outstanding 2025 notes and the rest for corporate purposes. The notes are redeemable under specific conditions and provide rights for repurchase by noteholders in case of a fundamental change.

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Bloom Energy (NYSE: BE) plans to offer $250 million in green convertible senior notes due 2029 in a private offering. An additional $37.5 million option may be available for initial purchasers. The notes will be senior, unsecured, and accrue interest payable semi-annually. They can be converted into cash, shares, or a combination thereof.

Proceeds will be used to repurchase 2.50% green convertible senior notes due 2025 and for general corporate purposes, including R&D and capital expenditures. Noteholders can convert their notes under specific conditions. The offer and sale of these notes will not be registered under the Securities Act.

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C3 AI and Bloom Energy have announced a collaboration to integrate the C3 AI Reliability Suite into Bloom Energy's fuel cell systems.

This integration aims to enhance operational excellence, reliability, and energy output. Bloom Energy, which monitors over a billion real-time data points daily, will use AI to provide precise modeling and timely recommendations to improve fuel cell performance.

The collaboration aims to drive innovation, reduce costs, and maximize the potential of Bloom's fuel cell platform, ultimately enhancing customer satisfaction and operational efficiency.

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Bloom Energy announced a power capacity agreement with Intel to install the largest fuel cell-powered high-performance computing data center in Silicon Valley. This agreement will see the deployment of additional megawatts of Bloom Energy's fuel cell-based Energy Server at Intel's existing data center location. The installation will make it the largest fuel cell-powered data center in Silicon Valley, offering a reliable power solution for energy-intensive data centers. Bloom Energy's technology can operate in a fully islanded microgrid mode, providing a sustainable energy solution.

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Bloom Energy (NYSE: BE) reported revenue of $235.3 million for the first quarter of 2024, showing a 14.5% decrease compared to the same period in 2023. The company's gross margin decreased by 3.5 percentage points, while operating loss improved by $14.7 million. Non-GAAP operating loss decreased by $3.4 million. Bloom Energy's CEO expressed optimism about market interest and commercial activity across various sectors, highlighting AI hardware supply chain industries. The company reaffirmed its outlook for full-year 2024, expecting revenue of $1.4 - $1.6 billion, a non-GAAP gross margin of around 28%, and non-GAAP operating income of $75 - $100 million.

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Bloom Energy (NYSE: BE) has partnered with Quanta Computer Inc. to provide a clean and reliable power solution for Quanta's manufacturing expansion in Fremont, CA. The partnership showcases Bloom Energy's capability to meet the time-to-power challenges of the AI sector, offering a fully islanded microgrid powered by fuel cell technology. This innovative solution helps Quanta Computer maintain its competitive edge in Silicon Valley by circumventing traditional utility constraints.

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Bloom Energy (NYSE: BE) will announce its first quarter 2024 financial results on May 9, 2024, followed by a conference call to discuss the results. The conference call will be held at 2:00 p.m. Pacific Time (PT) / 5:00 p.m. Eastern Time (ET) on the same day. Investors can access the live webcast and a telephonic replay of the call for further information.
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Bloom Energy Inc. secures up to $75 million in tax credits to expand fuel cell manufacturing and enhance operational efficiency at its Fremont, CA facility. The funding aims to accelerate domestic clean energy manufacturing and reduce greenhouse gas emissions, reinforcing Bloom's commitment to decarbonization and solid oxide technology.
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FAQ

What does Bloom Energy Corporation do?

Bloom Energy designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation.

What is the Bloom Energy Server?

The Bloom Energy Server is a revolutionary on-site power generation system that uses proprietary solid-oxide fuel cell technology.

What fuels can Bloom Energy Servers use?

Bloom Energy Servers are fuel-flexible and can use natural gas, biogas, and hydrogen to generate electricity.

Who are some of Bloom Energy's notable clients?

Notable clients include Google, Walmart, AT&T, eBay, The Coca-Cola Company, Caltech, and Kaiser Permanente.

What recent projects is Bloom Energy involved in?

Bloom Energy has announced plans to enter the electrolyzer market, leveraging its fuel cell technology to create sustainable hydrogen fuel.

Where does Bloom Energy primarily sell its systems?

Bloom Energy primarily markets its systems in the United States and South Korea.

What are the benefits of using Bloom Energy Servers?

Benefits include reliable 24/7 power generation, reduced greenhouse gas emissions, and lower operating costs.

Who invested in Bloom Energy as its first clean energy technology venture?

Kleiner Perkins and NEA were the first investment firms to back Bloom Energy's clean energy technology.

What industry was Bloom Energy's technology initially developed for?

Bloom Energy's technology was initially developed for NASA's Mars program.

How does Bloom Energy help businesses?

Bloom Energy helps businesses become more resilient and reduce uncertainty from grid dependence with its reliable and efficient power generation systems.

Bloom Energy Corporation

NYSE:BE

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3.25B
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