- Ground-breaking, 10MW on-site offering with 100% guaranteed power
- Short five-year term
- Flat pricing as low as 9.9 cents/kWh*
SAN JOSE, Calif. – July 24, 2023 – 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/.
Media Contact:
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Investor Relations:
Ed Vallejo
267.370.9717
Edward.Vallejo@bloomenergy.com