Xcel Energy and Bloom Energy to Produce Zero-Carbon Hydrogen at Nuclear Facility
September 19 2022 - 7:21AM
Business Wire
The collaboration seeks to demonstrate
long-term value for hydrogen production within the nuclear
industry
Bloom Energy (NYSE: BE) announced plans to install an
electrolyzer at the Xcel Energy (NASDAQ:XEL) Prairie Island Nuclear
Generating Plant in Welch, Minnesota. The installation is designed
to augment existing clean energy nuclear infrastructure to create
immediate and scalable pathways to produce cost-efficient, clean
hydrogen, supporting the growing hydrogen economy while enhancing
value for operators of zero-carbon nuclear facilities.
Bloom Energy’s electrolyzer – built on its solid oxide platform
– operates at high temperatures to convert water into hydrogen.
Pairing solid oxide electrolysis with nuclear energy’s technology
is a preferred method of unlocking unmatched efficiencies. The high
heat and steam produced by Xcel Energy’s Prairie Island facility
feeds into Bloom Energy’s electrolyzer to produce zero-carbon
hydrogen more efficiently than low-temperature electrolysis
alternatives like polymer electrolyte membrane (PEM) or alkaline.
These low-temperature alternatives require roughly 40% more
electricity, providing the Bloom electrolyzer an efficiency
advantage that is expected to significantly drive down the cost of
hydrogen production.
“Xcel Energy’s nuclear power plants already play a vital role in
our energy mix, delivering clean, reliable and affordable power for
our customers while avoiding hundreds of millions of tons of
emissions,” said Peter Gardner, Senior Vice President and Chief
Nuclear Officer at Xcel Energy, a clean energy provider that serves
eight Western and Midwestern states. “This project will provide a
tremendous opportunity to better understand how our existing
nuclear plants can contribute to the development of hydrogen
technologies and build a carbon free future.”
The Prairie Island facility – one of Xcel Energy’s two nuclear
power plants that produce nearly 30% of the electricity provided to
its customers in the Upper Midwest – faces extreme winter weather
annually, leading Xcel Energy to specifically turn to Bloom Energy
for its resiliency benefits. Operating reliably and efficiently, we
believe the installation will demonstrate how electrolyzers can
leverage the energy output from nuclear to support hydrogen
production even during harsh conditions.
“Xcel Energy has long championed what we at Bloom Energy know is
true: Our net-zero future hinges on energy that’s not only clean
but also resilient, accessible and affordable,” said Rick Beuttel,
vice president, hydrogen business, Bloom Energy. “In today’s
climate of extreme weather, fluctuating costs, and global energy
insecurity, hydrogen offers unmatched potential to leverage
existing infrastructure for clean, abundant energy. Combined with
Xcel Energy’s nuclear infrastructure, Bloom Energy’s solid oxide
platform – which offers exceptional efficiency – can help us
achieve our shared goal of an accessible net-zero future through
low-cost, zero-carbon hydrogen.”
Engineering for the 240 kW demonstration is currently underway,
with construction expected to begin in late 2023 and power-on
expected in early 2024.
For more information about Bloom Energy’s solid oxide
electrolyzer and the company’s commitment to a zero-carbon future,
visit: www.bloomenergy.com/bloomelectrolyzer.
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, Bloom’s expectations
regarding the collaboration with Xcel Energy, including plans to
install an electrolyzer at the Prairie Island Nuclear Generating
Plant, integration with nuclear infrastructure for scaling clean
hydrogen generation and related efficiency gains and cost
reductions, operational reliability and estimated uptime of Bloom’s
electrolyzers, hydrogen production during winter or other extreme
or harsh weather conditions, projected construction dates and
timing of future hydrogen production and progress towards any
net-zero emissions or decarbonization goals. 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, 2021, filed with the SEC on February 25, 2022, and its
Quarterly Reports on Form 10-Q for the quarters ended March 31,
2022 and June 30, 2022, filed with the SEC on May 6, 2022 and
August 9, 2022, respectively, as well as subsequent reports filed
with or furnished to the SEC from time to time. Bloom assumes no
obligation to, and does not currently 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 more information,
visit www.bloomenergy.com.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers
millions of homes and businesses across eight Western and
Midwestern states. Headquartered in Minneapolis, the company is an
industry leader in responsibly reducing carbon emissions and
producing and delivering clean energy solutions from a variety of
renewable sources at competitive prices. For more information,
visit xcelenergy.com or follow us on Twitter and Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20220919005011/en/
Media Contact: Press@bloomenergy.com
Bloom Energy Investor Relations: Ed Vallejo 267.370.9717
Edward.Vallejo@bloomenergy.com
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