Bloom Energy

What Bloom Energy does

Bloom Energy Corporation (NYSE: BE) is a publicly traded American energy technology company founded in 2001 and headquartered in San Jose, California, that designs, manufactures, and services solid oxide fuel cell (SOFC) systems for on-site distributed power generation. Its core product, the Bloom Energy Server, converts natural gas, biogas, or hydrogen into electricity through an electrochemical process rather than combustion, achieving near-zero NOx, SOx, and particulate emissions, and is built from 325 kW modular blocks that scale from 20 kW to 500+ MW. The platform is extended by several add-on modules: the AlwaysON Microgrid Platform for outage-resilient primary power (up to 99.999% availability), Heat Capture for combined heat and power above 90% system efficiency, Carbon Capture leveraging the inherently pure CO2 stream from the electrochemical reaction, the Bloom Electrolyzer for green hydrogen production, and Marine Fuel Cell solutions.

Bloom generates revenue through three primary streams: sale of fuel cell hardware, long-term operations and maintenance service agreements (recurring revenue from the installed base), and project development/financing structures. The go-to-market is exclusively B2B enterprise field sales targeting Fortune 100 companies, hyperscale data center operators, utilities, and industrial manufacturers, with deals structured as long-term power purchase agreements and project financings. Customer segments span data centers, manufacturing, healthcare, utilities, retail, telecom, education, and oil & gas, with named customers including Oracle, Equinix, AEP, Nebius, Brookfield, CoreWeave, Walmart, FedEx, AT&T, Intel, Caltech, Sutter Health, Medtronic, Home Depot, and Delmarva Power. Manufacturing is conducted in Fremont, California and a Delaware manufacturing center, with capacity scaling toward 2 GW annually by December 2026 and a joint venture with SK ecoplant in Virginia for solid oxide electrolyzer production.

Name

Bloom Energy

Legal name

Bloom Energy Corporation

Website

https://bloomenergy.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Bloom Energy designs, manufactures, and services solid oxide fuel cell systems that generate on-site electricity from natural gas, biogas, or hydrogen without combustion. The company serves data centers, utilities, manufacturers, hospitals, retailers, and other enterprise customers with multi-megawatt deployments.

Ownership category

akta.pro rank

Product category

Fuel Cell Power Generation

NAICS

Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112), Biomass Electric Power Generation (221117)

SIC

Cogeneration Services & Small Power Producers (4991), Motors & Generators (3621), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM) (EUACALAK)

akta.pro secondary industries

Fuel Cell CHP (SOFC/PEM—Natural Gas/Biogas/Hydrogen) (EUACAKAG), Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)

Keywords

• Solid oxide fuel cells
• Onsite power generation
• Fuel cell servers
• Distributed energy systems
• Green hydrogen electrolyzers

Headquarters

HQ city

Sunnyvale

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Fuel Cell Hardware Sales: Sale of Bloom Energy Server fuel cell systems as primary power generation hardware. Modular 325 kW building blocks sold to enterprise customers for onsite power generation. Revenue recognition from system installation and commissioning.
2. Operations and Maintenance Services: Long-term service agreements for installed fuel cell systems covering monitoring, maintenance, and performance optimization. Recurring revenue stream from installed base.
3. Project Development and Financing: Strategic project partnerships with financing arrangements including Brookfield's $25 billion framework for AI infrastructure power projects. Complex deal structures involving project financing and power purchase agreements.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Bloom Energy designs, manufactures and services solid oxide fuel cell (SOFC) systems, principally the Bloom Energy Server, that generate electricity on-site from natural gas, biogas, or hydrogen via an electrochemical (non-combustion) process. Systems are sold as modular 325 kW building blocks scalable from 20 kW to 500+ MW, and are complemented by an AlwaysON microgrid configuration, heat-capture/CHP modules, carbon-capture integration, the Bloom Electrolyzer for green hydrogen, and marine fuel cell solutions. Revenue is generated from hardware sales, long-term operations and maintenance service contracts, and structured project financing for multi-GW deployments.

Product overview

Bloom Energy offers a unified energy platform anchored by the Bloom Energy Server, a solid oxide fuel cell system that generates electricity without combustion using natural gas, biogas, or hydrogen. The core platform is complemented by modular add-ons including the AlwaysON Microgrid Platform for outage protection, Heat Capture technology for combined heat and power achieving >90% efficiency, Carbon Capture technology leveraging the fuel cell's pure CO2 output for CCUS, the Bloom Electrolyzer for green hydrogen production, and Marine Fuel Cell solutions for maritime decarbonization. The platform scales from 20 kW to 500+ MW using 325 kW modular building blocks, deploys in as little as 90 days, and delivers up to 99.999% availability, serving industries including data centers, manufacturing, healthcare, utilities, and oil & gas.

Differentiator

Problem solved

Functional benefit

Products and services

• Bloom Energy Server A modular, distributed solid oxide fuel cell platform that converts natural gas, biogas, or hydrogen into electricity without combustion, delivering reliable 24/7 onsite primary power; modular 325 kW building blocks scale from 20 kW to 500+ MW for enterprise customers.
• Operations and Maintenance Services Long-term service agreements covering monitoring, maintenance, and performance optimization for installed Bloom Energy Server fuel cell systems, providing recurring service revenue across the deployed base.
• Project Development and Structured Financing Project development, power purchase agreement structuring and project financing partnerships (e.g., $25B Brookfield framework, 20-year AEP off-take) that enable large enterprises and utilities to deploy Bloom fuel cell systems with limited upfront capital.

Quantifiable outcome

• 130%+ year-over-year Q1 2026 revenue growth to $751 million
• +6 more outcomes

Named customers15 records

Segments8 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core, minor and flagship.

• Nebius GroupcoreStrategic or Co-development Partner · 1 June 2026$2.6 billion, ten-year master agreement with Nebius Group across three phases for fuel cell deployment powering AI and cloud data centers in Europe and the U.S. Represents 328 MW initial commitment. Nebius is AI cloud infrastructure company building gigawatt-scale U.S. data center campuses.
• American Electric Power (AEP)coreStrategic or Co-development Partner · 1 June 2026$2.65 billion, 20-year offtake project with AEP for fuel cell facility in Wyoming. Part of broader up to 1 GW agreement. AEP constructing 72.91 MW fuel cell facility in Hilliard, Ohio to power Amazon data center.
• Crusoe EnergyminorStrategic or Co-development Partner · 1 June 20261.8 GW project (Project Jade) in Cheyenne, Wyoming for AI data center campus. Bloom contracted to supply 900 MW of fuel cells. Project was paused by Crusoe at customer's request but Black Hills Energy confirmed overall project remains on track with different hyperscaler customer for early 2028.
• EdgeModeminorStrategic or Co-development Partner · 1 June 2026Partnership for Malpica AI data center campus in Toledo, Spain. €3 billion project deploying 30 10MW natural gas fuel cell modules (300 MW total) operating independently from conventional grid. 18-24 month deployment timeline.
• OracleflagshipStrategic or Co-development Partner · 1 April 2026Expanded partnership with Oracle under master services agreement for Oracle to procure up to 2.8 GW of Bloom fuel cell systems for AI infrastructure buildout. Includes Project Jupiter AI campus in New Mexico deploying up to 2.45 GW. Initial 1.2 GW contracted with expansion options. Oracle switched from Siemens Energy gas turbines to Bloom fuel cells for lower emissions.
• EquinixcoreStrategic or Co-development PartnerExpanded multi-year fuel cell partnership for data center power. Equinix is world's largest colocation provider. Partnership has grown over decade with continued expansion. Bloom provides clean, reliable, cost-effective onsite power generation.
• MTAR TechnologiescoreTechnology or IntegrationIndian manufacturing partner and single largest client for Bloom Energy. MTAR supplies solid oxide fuel cell hot box assemblies and derives estimated 55-65% of revenue from Bloom. Dominant 60-70% wallet share as sole supplier. Partnership critical to Bloom's manufacturing scale-up.
• American Electric Power (AEP)coreTechnology or IntegrationAEP constructing 72.91 MW fuel cell facility in Hilliard, Ohio using Bloom Energy technology to power Amazon data center. Represents one of largest utility fuel cell deployments.
• CoreWeavecoreStrategic or Co-development PartnerAI cloud infrastructure company partnership for power solutions at data center facilities.
• PerencominorStrategic or Co-development PartnerBloom Energy fuel cells delivering reliable, low-emission power to western Europe's largest onshore oil field (Wytch Farm in UK). Represents Oil & Gas sector deployment.
• GAIL IndiaminorStrategic or Co-development PartnerMoU signed to deploy innovative fuel cell technology in India using natural gas to power operations with clean, reliable energy.
• SK ecoplantcoreStrategic or Co-development PartnerExpanded power generation partnership establishing hydrogen market leadership. Joint venture in Chesterfield County, Virginia building 280,000 sq ft facility producing up to 1 GW/year of solid oxide electrolyzer cells for green hydrogen, completion expected 2028.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• FuelCell Energy: Direct fuel cell competitor using molten carbonate and solid oxide carbonate fuel cell technology for stationary power generation, serving utilities and industrial customers with multi-MW installations. Closest public competitor in the U.S. stationary fuel cell market and competes head-to-head for similar utility-scale distributed generation contracts.
• Plug Power: PEM fuel cell and green hydrogen ecosystem player with stationary power, electrolyzer, and material handling applications. Competes with Bloom in hydrogen fuel cells and electrolyzer technology, though Bloom's SOFC platform targets larger utility-scale applications while Plug Power focuses on mobility-adjacent segments.
• Ballard Power Systems: PEM fuel cell technology company with stationary power, heavy-duty mobility, and backup power products. A direct peer in the stationary fuel cell category that competes for similar behind-the-meter and microgrid use cases, though focused primarily on smaller-scale applications than Bloom's utility-grade installations.
• Doosan Fuel Cell: Korean SOFC fuel cell manufacturer competing directly with Bloom's core technology. Most direct SOFC competitor globally, though primarily focused on smaller commercial/residential Korean deployments; competes with Bloom for international SOFC expansion opportunities.

Broad incumbents

• Siemens Energy: Global gas turbine and hydrogen-ready power generation incumbent whose Silyzer electrolyzer competes in adjacent categories. Oracle initially selected Siemens Energy gas turbines for its AI data center before switching to Bloom, illustrating direct competition for hyperscaler power contracts. Offers established project financing and global service network.
• Cummins Inc. Diversified power and hydrogen player with Accelera brand covering fuel cells (SOFC via prior partnerships), electrolyzers, and traditional diesel/gas generator sets. Competes broadly with Bloom across distributed power generation and increasingly in fuel cell/electrolyzer technology for data center and industrial customers.
• Mitsubishi Power: Major gas turbine and hydrogen-ready power generation incumbent serving utilities and large industrial customers. Competes with Bloom for AI data center power contracts through hydrogen-capable turbines and established project development capabilities, particularly in Asian markets where Bloom is expanding via SK ecoplant.
• Caterpillar Inc. Dominant diesel and gas generator manufacturer serving backup, prime, and distributed power applications across data center, industrial, and utility customers. Competes with Bloom at the larger end of onsite power generation, particularly for customers seeking conventional reciprocating engine solutions.
• GE Vernova: Major gas turbine and grid infrastructure player formed from GE's power spin-off, offering HA-class turbines and hydrogen-ready solutions for utility and industrial customers. Competes with Bloom for multi-hundred-MW AI data center power contracts through conventional turbines enhanced with hydrogen cofiring capability.
• Generac Holdings: Leading backup and prime power generation equipment manufacturer serving residential, commercial, and industrial customers with smaller-scale gensets and battery storage. Competes with Bloom at the smaller end of onsite power generation and increasingly in the microgrid category where Bloom's AlwaysON platform operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/bloom_energy
• YouTubeyoutube.com/user/BloomEnergy
• Facebookfacebook.com/bloomenergy
• LinkedInlinkedin.com/company/22243
• Instagraminstagram.com/bloomenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds19 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bloom Energy