- IRA (Inflation Reduction Act) should accelerate growth for fuel cells.
- Hypergrowth sector, 2050 neutrality targets, and 2030 reduction targets are approaching fast.
- $10 billion in total backlog, $2.8 in new product backlog.
- First commercialization in carbon capture, expanding hydrogen cells and electrolyzation to Europe. Large expansion in the maritime segment, first successful deployment of a Bloom energy cell on a vessel.
- IRA tax credits significantly incentivize new installations and expand existing modules. Offering $3/kg of hydrogen produced over the electrolyzer’s or fuel cell’s lifetime.
Bloom Energy (BE) is a vertically integrated supplier of stationary fuel cells, with 80% market share in the United States. Bloom has over 600MW of installed production, with a $10 billion backlog. Bloom has managed a 10-year trailing revenue CAGR of 28%, expanding margins to be net positive over the same time frame.