Bloom Energy Announces Industry-Leading Customers
Bank of America, Coca-Cola, Cox Enterprises, eBay, FedEx, Google, Staples, and Walmart Among First Companies to Deploy Bloom Energy Server
Sunnyvale, CA - February 24, 2010— Bloom Energy Corporation, a Silicon Valley-based company committed to changing the way people generate and consume energy, announced today several industry-leading customers for its Bloom Energy Server™, a patented solid oxide fuel cell (SOFC) technology that provides a cleaner, more reliable, and more affordable alternative to both today's electric grid as well as traditional renewable energy sources. The company's first customers include Bank of America (NYSE: BAC), The Coca-Cola Company (NYSE: KO), Cox Enterprises, eBay (Nasdaq: EBAY), FedEx Corp. (NYSE: FDX), Google (Nasdaq: GOOG), Staples (Nasdaq: SPLS), and Walmart (NYSE: WMT).
With the Bloom Energy Server, customers can efficiently generate their own electricity on site, reducing their carbon footprint while lowering energy costs and mitigating power outage risks. Each Bloom Energy Server provides 100 kilowatts (kW) of electricity, enough to power 100 average U.S. homes or a small office building 24/7. Customers typically expect a 3-5 year payback on their investment from the energy cost savings. Since the first commercial customer installation in July 2008, Bloom's Energy Servers have collectively produced more than 11 million kilowatt hours (kWh) of electricity, with CO2 reductions estimated at 14 million pounds – the equivalent of powering approximately 1,000 American homes for a year and planting one million trees.
"Whether a customer wants to reduce its carbon footprint or its energy bills, or both, the Bloom Energy Server provides the solution," said Dr. KR Sridhar, principal co-founder and CEO of Bloom Energy. "Our foundation customers are industry leaders in their businesses as well as in environmental sustainability, representing companies who understand that responsible energy consumption and healthy profit margins need not be mutually exclusive. We are fortunate to have foundation customers who embrace energy innovation as an important part of their overall business strategy."
Bank of America
An environmental leader for more than two decades, Bank of America has committed $20 billion over ten years to address climate change through lending, investing, products and services, and in its own operations. As part of this initiative, the company sought to cut electricity costs while increasing power reliability and enhancing energy security by reducing its dependence on the grid. The Bloom Energy Servers help eliminate Bank of America's need for diesel generators while dramatically reducing the company's carbon footprint and providing energy cost stability. Bank of America's 500kW installation will power one of its largest 24/7 call centers located in Southern California.
"Installing low-carbon technologies, like Bloom's Energy Servers, at our facilities is not only the right thing to do for our planet, but it's also a smart business decision. Bank of America is proud to be at the forefront as one of Bloom's foundation customers," said Mark Nicholls, Senior Vice President, Corporate Workplace executive, Bank of America.
The Coca-Cola Company
Climate protection is a key component of Coca-Cola's business strategy – stated as an aspirational goal to grow its business, but not the carbon footprint in its manufacturing operations. As part of its Energy & Climate Protection strategy, the company is committed to improving the energy efficiency of its plants and fleet while reducing greenhouse gases (GHG) emissions in cold drink equipment. Coke's 500kW installation at its Odwalla plant in Dinuba, CA, will run on redirected biogas and is expected to provide 30% of the plant's power needs while reducing its carbon footprint by an estimated 35%.
"This new fuel cell technology has great promise and represents an important step for Coca-Cola in continuing to grow our business without growing the carbon footprint," said Brian Kelley, President and General Manager, Coca-Cola North America Still Beverages and Supply Chain. "The Coca-Cola Company has committed to hold its overall worldwide manufacturing carbon emissions flat through 2015 from its 2004 level. We intend to do this while actually reducing emissions in the U.S. and other developed markets, improving energy efficiency and using cleaner forms of energy, like these fuel cells."
Cox Enterprises is a leading communications, media and automotive services company with revenues of $15 billion and more than 66,000 employees. The company's national sustainability program, Cox Conserves, aims to conserve resources, embrace renewable forms of energy and reduce the company's greenhouse gas emissions. Cox Conserves also encourages the company's employees and their families to engage in eco-friendly practices. Cox sited its first 400kW Bloom Energy Servers at its KTVU television station in Oakland, CA.
"Bloom systems running on biogas offer Cox a 24/7 renewable energy option to meet power demands. By cutting costs and carbon emissions, the Bloom project complements our overall Cox Conserves program," said Cox Enterprises' Chairman Jim Kennedy.
eBay Inc. connects hundreds of millions of consumers through businesses that empower people to do more with less, from promoting the re-use of products that already exist through eBay marketplaces to paying without a paper check through PayPal. eBay is committed to extending this positive impact through vibrant sustainable commerce and community experiences, including the eBay Green Team. As part of this commitment, eBay set an ambitious carbon reduction goal of 15% by 2012 over a 2008 baseline as part of an overall strategy to run their business in ways that have less impact on the planet. A commitment to investing in renewable sources of energy is core to meeting this goal and the company has installed two solar arrays, including San Jose's largest commercial installation to date. In 2009, in an effort to diversify its portfolio, eBay collaborated with Bloom to pioneer a first-of-its-kind installation that, as of spring 2010, will be powered by 100% renewable biogas. The 500kW system sits outside eBay's LEED gold certified "Mint" building in North San Jose.
"eBay believes in the power of our business model to make a real difference in the world, and that includes how we embrace innovation to reduce our carbon footprint. When Bloom came to us, it was an easy decision to become an early-adopter of their cutting-edge new technology. As a result, we're meeting financial and environmental goals with the project while fueling a more energy efficient global marketplace. That's good for us, our customers and the planet," said John Donahoe, eBay CEO.
FedEx has taken a leadership role in the adoption and advancement of responsible environmental practices. The company supports the growth of sustainable energy use through commitments to renewable power sources in its operations and use of innovative technologies in its transportation fleet. FedEx seeks to diversify its energy supply whenever possible, relying on energy sources such as wind and solar power. An early adopter of solar technology, the company is evaluating Bloom Energy's solution as a clean, reliable power source to complement solar power at its Oakland, Calif., hub. FedEx has installed five 100kW Bloom Energy Servers at the package sorting facility.
"FedEx understands the importance of leading in areas of innovation, such as energy. Bloom Energy is a pioneer in distributed energy, the concept behind the next paradigm in how industry could be powered," said Rob Carter, FedEx Chief Information Officer.
Google is committed to being a responsible global citizen and takes its use of energy very seriously. To reduce the environmental impact of Google's operations, the company generates on-site energy with lower carbon intensities and lower cost than the traditional grid. Google, which was Bloom Energy's first customer in July 2008, was attracted to the solution because of its fuel flexibility, easy deployment and payback period. Google's 400kW installation powers a building on Google's main campus, a facility that includes an experimental data center.
"As we work hard to reduce Google's environmental footprint and improve our sustainability, we're pleased to be able to use on-site clean power generated by Bloom Energy," said Rick Needham of Google's Green Business Operations.
From offering customers innovative environmental products and services to implementing energy conservation, waste reduction, recycling, and green building initiatives in the company's internal operations, Staples is focused on positive change that truly makes a difference in the world. The company has pledged to reduce its absolute carbon emissions by 7% by 2010 and has evaluated many alternative energy sources. In addition to early solar projects that remain in the Staples portfolio, Staples sought a reliable solution that could operate around the clock and significantly reduce carbon emissions. Staples' first 300kW installation is located at their Ontario, CA distribution center and the company believes Bloom Energy Servers can provide significant power for their large facilities and distribution centers in the future.
"Staples' partnership with Bloom marks an exciting next step in our ongoing commitment to environmental leadership," said Mark Buckley, vice president of environmental affairs for Staples. "Through our relationship with energy leaders like Bloom, Staples is not only able to reduce our operating costs but we are reducing our environmental footprint in the local communities in which we operate."
Walmart views sustainability as an important opportunity for both the future of their business and the world. Accordingly, they have set a vision of supplying their operations with 100% renewable energy. Walmart, which evaluates their energy vendors with the same rigor they apply to all their suppliers, sought a renewable energy solution that could contribute to their sustainability goals and help lower costs for the business and its customers. Walmart has completed Energy Server deployments with 400kW systems at two southern California retail locations.
"At Walmart, our goal is to be supplied by 100 percent renewable energy. To do this, we are considering a number of emerging technologies, including Bloom Energy, to ensure they work for our business, help lower costs for our customers, and reduce our impact on the environment. We hope to use our scale to help bring these technologies to market in a fast and cost effective way," said Bill Simon, Chief Operating Officer, Walmart U.S.
About Bloom Energy
Bloom Energy is a provider of breakthrough solid oxide fuel cell technology that generates clean, highly-efficient power on site from virtually any fuel source. Bloom Energy's mission is to make clean, reliable energy affordable for everyone in the world. The Bloom Energy Server™ is currently producing power for several Fortune 500 companies. The company is headquartered in Sunnyvale, CA. For more information, visit BloomEnergy.com.
This news release contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended, that reflect Bloom Energy's judgment and involve risks and uncertainties as of the date of this release, including without limitation the statements related to anticipated product development timelines and Bloom Energy's manufacturing strategy. All forward-looking statements and other information included in this press release are based on information available to Bloom Energy as of the date hereof, and Bloom Energy assumes no obligation to update any such forward-looking statements or information. Bloom Energy's actual results could differ materially from those described in Bloom Energy's forward-looking statements. Other factors that could cause or contribute to such differences include, but are not limited to, risks related to significant regulatory, supply and competitive barriers to entry and risks related to the Bloom Energy's manufacturing strategy which relies heavily on third party suppliers for a significant portion of the contents of the Bloom Energy Server.
Bloom Energy Server(R) is a registered trademark of Bloom Energy Corporation. All other names are trademarks and/or registered trademarks of their respective owners.