Expanded agreement to create Bloom’s largest islanded, load-following industrial installation

Bloom Energy (NYSE: BE), a world leader in solid oxide fuel cell (SOFC) technology, and Quanta Computer Inc. (TWSE: 2382.TW), a premier Taiwanese electronics manufacturer, announced a major expansion of an existing agreement to power the production of critical hardware serving the AI industry. The new agreement increases the power capacity of Quanta’s existing Bloom SOFC installation by more than 150 percent and will circumvent a costly utility interconnection delay to keep up with rapidly growing demand for orders.

AI is one of the fastest growing technologies today that is reshaping industries and poised to be a major economic driver worldwide. Most AI data centers are located in the United States and demand for Quanta servers to support these facilities is quickly increasing, requiring access to reliable power – which is a challenge in Silicon Valley where both real estate and grid power are severely constrained.

When Quanta’s manufacturing expansion in Fremont was impeded by costly interconnection delays to the local electric utility, they turned to an islanded Bloom Energy SOFC microgrid installation to reliably deliver the power it needed to serve the fast-paced AI sector.

As demand for Quanta’s products continues to grow, the company decided to expand its Bloom microgrid solution.

“Leaders in the AI industry like Quanta simply do not enjoy the luxury of being able to wait for traditional grid infrastructure, because the marketplace won’t wait for them,” said Aman Joshi, Bloom Energy’s global Chief Commercial Officer. “Bloom’s SOFC microgrids provide AI customers with a flexible, pay-as-you-grow solution that is ready to scale and avoids additional transmission or distribution upgrades. This effectively shortens interconnection permitting associated with traditional infrastructures.”

Bloom is on-track to deliver the expanded power capacity for Quanta ahead of schedule early next year, demonstrating significant Time to Power advantages Bloom’s solution offers over the grid. The expansion of this partnership will create Bloom’s largest islanded, load-following industrial installation.

Bloom’s microgrid solution will continue to address Quanta’s short- and long-term needs for energy and provide resilience to unplanned power outages and predictability in energy costs.

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.

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 regarding the timing for delivery and installation of the microgrid, the growth of AI, and related demand for electricity. 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, 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, and Quarterly Reports on From 10-Q for the quarters ended March 31, 2024, and June 30, 2024, filed with the SEC on February 15, 2024, May 9, 2024, and August 8, 2024, respectively, 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.

Media Bloom Energy – Katja Gagen (press@bloomenergy.com)

Investors Bloom Energy – Michael Tierney (investor@bloomenergy.com)

Bloom Energy (NYSE:BE)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Bloom Energy Charts.
Bloom Energy (NYSE:BE)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Bloom Energy Charts.