Bloom Energy (BE) Status Update summary

Technology overview and deployment

• Fuel cells provide primary, ultra-reliable, non-combustion power using natural gas, with the ability to run on hydrogen and minimal air pollution.

• Modular, scalable design allows installations from tens of MW to over a GW, with over 1.5 GW deployed globally and 400 MW in data centers.

• High efficiency (54% lifetime average) and water-neutral operation, with significant OpEx and CapEx savings due to minimal overbuild requirements.

• Systems are quiet, have no moving parts, and are designed for rapid deployment, often within 90 days, aided by streamlined permitting.

• Manufacturing capacity is highly scalable, with current output at about 1 GW/year and the ability to expand as needed.

Competitive advantages and economics

• Fuel cells require only a 9% overbuild to achieve 99.9% availability, compared to much higher overbuild for turbines and engines.

• Total cost of ownership for a 100 MW data center is 15%-25% lower over five years compared to alternatives, with up to $66 million CapEx and $15 million/year OpEx savings.

• Systems are concurrently maintainable, with median module replacement every 5.5 years and 98% of replaced modules recycled or reused.

• Maintenance and installation costs have seen double-digit percentage reductions year-on-year, with a strong focus on total cost of ownership.

• Real-time monitoring and predictive maintenance are enabled by extensive instrumentation and data analytics.

Sustainability and future readiness

• Zero NOx, SOx, or particulate emissions, with 35% lower CO2 per unit of energy compared to other technologies.

• Water-neutral or slightly water-positive operation, critical for deployment in water-limited regions.

• Systems are future-ready: capable of combined heat and power, absorption chiller cooling, carbon capture, and direct DC power for emerging data center designs.

• Fuel flexibility allows for operation on hydrogen or blends as markets evolve.

• ITC incentives remain available through 2031, supporting ongoing adoption.