BLOOM ENERGY Bloom Energy to Upgrade Delaware Fuel Cell Project with Investment from Southern Power

  • Jul 02, 2019
  • Electric Energy

Bloom Energy today (6/21) announced it will deploy the latest generation of its Bloom Energy Servers at an existing 30 megawatt (MW) fuel cell project located on two sites in New Castle and Newark, Delaware. The upgrade of the sites will be enabled by an investment by Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company.

Southern Power's investment into the utility-scale fuel cell generation project will enable the upgrade at no additional cost to Delmarva utility customers to whom the fuel cell project provides clean, reliable electricity.

"By upgrading the prior generation of Bloom Energy Servers to the newest generation equipment at the Delaware sites, we will continue to generate clean electricity with virtually no smog forming emissions, and with even fewer CO2 emissions," said Susan Brennan, Chief Operations Officer of Bloom Energy. "We are delighted that Southern Power's investment in this project is helping us bring cleaner air to the citizens of Delaware."

Bloom Energy Servers generate electricity by efficiently converting natural gas or biogas into electricity via an electrochemical process. Because Bloom Energy Servers generate low-emission power 24 hours each day and 365 days per year, they reduce greenhouse-gas emissions by amounts comparable to intermittent zero-emission wind and solar power on an annual basis. As Bloom Energy Servers do not combust the gas they use as fuel, they produce virtually no smog forming emissions.

The fuel cell project was previously owned by Bloom Energy and a tax equity investor. As part of the transaction to upgrade the project, Southern Power will become the majority co-owner with Bloom Energy. Bloom Energy will continue to operate, maintain and provide Bloom Energy Servers to the fuel cell project.

Cautionary Note Regarding Forward-Looking Statements:

Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the planned fuel cell project. Bloom Energy Corporation cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Bloom Energy Corporation; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Bloom Energy's Annual Report on Form 10-K for the year ended December 31, 2018, and subsequent securities filings, and Bloom Energy Corporation's Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 and subsequent filings with the Securities and Exchange Commission, could cause actual results to differ materially from each company's expectations as suggested by such forward-looking information: the ability to control costs and avoid cost and schedule overruns during the development, the ability to obtain financing; construction and operation of generating facilities; the ability to construct facilities in accordance with the requirements of permits and licenses and to satisfy any environmental performance standards and the requirements of tax credits and other incentives; changes or proposed changes in applicable laws, regulations, permits or other requirements of operations; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Bloom Energy Corporation. The information in this press release is as of June 21 2019. Bloom Energy Corporation expressly disclaim any obligation to update any forward-looking information, except as required by law.

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