Bloom Energy Launches Advanced CHP Solution for Net Zero Heating and Cooling

• Higher electrical and combined efficiency than current CHP solutions
• Enables industrial and commercial customers to save on energy costs and reduce carbon footprint
• Product ready to ship now; first customer announced

Bloom Energy (NYSE:BE) is now offering the Bloom Energy Server™ as a Combined Heat and Power (CHP) solution that utilizes a high temperature (>350°C) exhaust stream for industrial steam production and absorption chilling.

About 50% of global industrial energy use is for steam generation. Our high-temperature exhaust stream can produce steam. Customers can use the Bloom Energy Server now not only to produce high-efficiency clean electricity, but also high temperature steam with no additional fuel input—significantly reducing operating costs and carbon emissions. The Bloom technology offers a pathway to decarbonization for industries from chemicals to petroleum and refining, pulp and paper, food processing and primary metals that does not exist in older CHP systems.

Additionally, rising temperatures are significantly raising the demand for cooling. Today, virtually all cooling is enabled by using electricity. Big power users, such as data centers, use up to 40% of their electricity for cooling. The electrically enabled cooling uses hydrofluorocarbons (HFCs), highly potent greenhouse gases, as refrigerants.

Bloom’s offering will enable customers to replace HFC chillers with absorption chillers that do not use HFCs.

Bloom’s advanced CHP solution is particularly attractive to the world’s largest CHP markets in Germany, South Korea, Italy, Japan, and the United States, where almost half of the operating CHP systems are over 20 years old and ready for replacement. Bloom has already signed its first advanced CHP customer in Germany, Geothermie-Gesellschaft Bruchsal GmbH, an affiliated company of EnBW (Energie Baden-Württemberg AG), an energy conglomerate based in Stuttgart.

“An optimal CHP solution must have high electrical efficiency, high temperature heat, and high total efficiency,” said Ravi Prasher, Chief Technology Officer, Bloom Energy. “Other technologies such as combustion engines or low-temperature fuel cells do not have the capability to achieve all three attributes, but Bloom’s solution can. This is yet another example of our innovative low-carbon energy offerings. With these new CHP capabilities, and greater than 50% electrical efficiency, Bloom Energy can achieve more than 90% combined efficiency and deliver high-temperature heat.”

The table below highlights the advantages of Bloom’s offering over traditional CHP systems:

For more information about Bloom Energy’s CHP technology visit: https://www.bloomenergy.com/applications/energy-server-with-heat-capture/

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: the efficiency, economics, value proposition and timing of delivery of the Bloom Energy Server™ with CHP; Bloom’s investment in research and development; Bloom’s international expansion plans; potential tax credits. 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, 2022, filed with the SEC on February 21, 2023 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, filed with the SEC on May 9, 2023, as well as subsequent reports filed with or furnished to the SEC from time to time. Bloom assumes no obligation to, and does not 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.

Background

CHP systems produce electricity and usable heat using a range of technologies and fuels, most typically using internal combustion engines. CHP-compatible applications include industrial boilers, central heating, district heating and process water, and absorption-based cooling. When CHP systems are used on-site, transfer losses are minimized and heat that is produced as part of power generation that would otherwise be wasted is used, resulting in reduced facility energy use.

Bloom Energy is a world leader in solid oxide fuel cells. Its Energy Server is designed to enable customers to maximize the usable energy from their fuel expenditures.

How Does Bloom’s High-Temperature CHP Work?

Unlike other fuel cell technologies, Bloom’s solid oxide fuel cells operate at high temperature, over 800° Celsius. By modifying the internal plumbing of our servers, the new offering can supply the exhaust gas stream at temperatures greater than 350°C. This high-temperature gas stream can provide heat to a steam generator/boiler to make steam and hot water. Steam and hot water can be directly used for heating requirements in various industrial and district heating applications. Alternatively, the gas stream or steam can be fed to absorption chillers to provide space cooling. Instead of using electricity to provide cooling, absorption chillers use high-temperature heat.

How Large Is The CHP Market?

• According to analysts, the global combined heat and power market was valued at $26 billion in 2022 and is expected to surpass $43 billion by 2030.
• The market is expected to grow at a CAGR of 5.9% from 2022 to 2030.

What Are The Top 10 Countries For CHP?

1. China – 367GW (44% of global installed capacity)
2. U.S. – 82GW (10%)
3. Germany – 33GW (4%)
4. Poland – 22GW (2%)
5. UAE – 19GW (2%)
6. South Korea – 17GW (2%)
7. Italy – 16GW (2%)
8. Japan – 14GW (1%)
9. Saudi Arabia -13GW (1%)
10. Brazil – 13GW (1%)

Which Industries Have The Most Installed CHP Capacity?

1. Chemicals – 24GW (29%)
2. Petroleum & Refining – 15GW (19%)
3. Pulp & Paper – 11GW (15%)
4. Food Processing – 4GW (6%)
5. Primary Metals – 4GW (5%)

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