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Fuel cell tech developer Bloom Energy files for IPO in New York

Bloom Energy Server. Source: Bloom Energy Corporation

June 13 (Renewables Now) - Bloom Energy Corporation, the California-based developer of a solid oxide fuel cell power generator, on Tuesday filed for an initial public offering (IPO) on the New York Stock Exchange.

Bloom Energy intends to list its Class A common stock on the bourse under the ticker symbol “BE”. The exact number of shares to be offered and the price range are yet to be determined.

According to the filing with the US Securities and Exchange Commission (SEC), the proposed maximum aggregate offering price is USD 100 million (EUR 85m). JP Morgan and Morgan Stanley are the joint lead book-running managers.

The company offers the Bloom Energy Server, a stationary power generation platform based on its proprietary solid oxide fuel cell technology that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. A typical configuration comes with a capacity of 250 kW.

Last year, Bloom Energy booked a net loss of USD 281.3 million on a revenue of USD 376 million.

(USD 1.0 = EUR 0.850)

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