Bloom Energy (BE): Company Overview, Stock, Financials & Latest News

Quick Facts

Bloom Energy Corporation at a glance (figures current as of early July 2026)

Ticker	BE (New York Stock Exchange)
Founded	2001, originally as Ion America Corp
Renamed Bloom Energy	2006
Headquarters	San Jose, California, United States
Founder	K.R. Sridhar
CEO	K.R. Sridhar (Founder, Chairman, and Chief Executive Officer)
IPO date	July 2018, listed on the New York Stock Exchange
Industry	Distributed power generation, solid oxide fuel cells, hydrogen electrolyzers
Market capitalization	Roughly $80 billion to $90 billion, varying with daily trading
Q1 2026 revenue	$751.1 million, up 130.4 percent year over year
FY2026 revenue guidance	$3.4 billion to $3.8 billion
Reported backlog	Approximately $20 billion
Dividend	None paid
Key customers and partners	Oracle, Brookfield, American Electric Power, SK ecoplant, Equinix

What Is Bloom Energy?

Bloom Energy is an American clean energy technology company that designs, manufactures, and installs solid oxide fuel cell systems for on site power generation. Its core product, the Bloom Energy Server, converts fuel such as natural gas, biogas, or hydrogen into electricity through a non combustion electrochemical process, similar in concept to a battery that continuously converts fuel into power rather than storing a fixed charge.

The company’s technology is designed to be installed directly at a customer’s site, whether a data center, hospital, factory, or retail location, allowing that customer to generate its own power without waiting years for new grid interconnection capacity. This has made Bloom Energy an increasingly important supplier to the fast growing artificial intelligence data center industry, where operators need large amounts of reliable electricity delivered far faster than traditional utility grid upgrades typically allow.

Bloom Energy’s systems are marketed as clean, quiet, and modular, since they do not rely on combustion or on site water use for cooling in the way traditional gas turbines or diesel generators do, which the company argues helps projects move through local permitting and community approval processes more smoothly.

Company History

Bloom Energy traces its origins to NASA funded research led by K.R. Sridhar, an aerospace engineer who, while directing the Space Technologies Laboratory at the University of Arizona, developed technology intended to convert Martian atmospheric gases into oxygen for a planned Mars mission. When that NASA mission was cancelled, Sridhar and collaborators, including co-founder Jim McElroy, adapted the underlying solid oxide electrochemical technology to run in reverse, combining fuel and oxygen to generate electricity instead.

The company was founded in 2001 as Ion America Corp and operated largely in stealth mode for nearly a decade while refining its technology. It moved to the NASA Ames Research Center in Silicon Valley in 2002 and was renamed Bloom Energy in 2006. The company emerged publicly in February 2010 with a launch event unveiling the Bloom Energy Server, nicknamed the Bloom Box, which attracted significant media attention as an early example of distributed, non combustion power generation.

Key milestones

Selected company history timeline

Period	Event
2001	Founded as Ion America Corp by K.R. Sridhar following the cancellation of a NASA Mars mission he had been working on.
2006	Renamed Bloom Energy Corporation.
July 2008	Shipped its first 100 kilowatt commercial Energy Server units to Google.
February 2010	Publicly unveiled the Bloom Energy Server, or Bloom Box, ending nearly a decade of largely secretive development.
July 2018	Completed its initial public offering on the New York Stock Exchange under the ticker BE.
2020	Pivoted part of its manufacturing capacity to help refurbish ventilators during the early COVID-19 pandemic.
2023 to 2024	Expanded partnerships with South Korea’s SK ecoplant and continued building out its Delaware manufacturing facility to scale domestic production.
2025	Signed an initial $5 billion strategic financing partnership with Brookfield aimed at powering AI data center infrastructure.
January 2026	Finalized a $2.65 billion, 20 year offtake agreement with American Electric Power for up to 1 gigawatt of fuel cell capacity.
April 2026	Announced an expanded master services agreement with Oracle covering up to 2.8 gigawatts of Bloom’s fuel cell systems to support Oracle’s AI and cloud infrastructure buildout, including its Project Jupiter data center program.
Mid 2026	Expanded its Brookfield strategic partnership from $5 billion to $25 billion in available project financing for AI focused power deployments.

Founders

Bloom Energy was principally founded by K.R. Sridhar, drawing on his background in aerospace engineering and prior NASA supported research.

The company operated for nearly a decade before publicly revealing its technology, during which it raised substantial venture capital from firms including Kleiner Perkins and New Enterprise Associates to fund development of its solid oxide fuel cell stacks.

CEO

K.R. Sridhar has served as Bloom Energy’s Founder, Chairman, and Chief Executive Officer since the company’s founding in 2001. Before Bloom, Sridhar was a professor of Aerospace and Mechanical Engineering and Director of the Space Technologies Laboratory at the University of Arizona, where he worked on NASA funded research related to Mars exploration. He holds a bachelor’s degree in mechanical engineering from the National Institute of Technology in Tiruchirappalli, India, along with a master’s degree in nuclear engineering and a PhD in mechanical engineering from the University of Illinois at Urbana-Champaign. Sridhar has led Bloom Energy through its multi decade transition from a stealth mode research project into a major public power infrastructure supplier, and has become a prominent voice on the growing electricity demands of artificial intelligence data centers.

Headquarters

Bloom Energy is headquartered in San Jose, California, at 4353 North First Street, having moved its headquarters there from Sunnyvale, California in 2018 around the time of its initial public offering. The company also operates a major manufacturing facility in Delaware, established to expand domestic production capacity for its Energy Server systems, along with additional operations supporting its growing international footprint, including projects in South Korea, Japan, and other markets.

Business Segments

Bloom Energy reports its results largely as a single power generation technology business, but its commercial activity spans several functional areas.

Products and Services

Bloom Energy’s product lineup centers on its core solid oxide fuel cell platform, supplemented by newer hydrogen related offerings.

• Bloom Energy Server: The company’s flagship product, a modular fuel cell platform that converts natural gas, biogas, hydrogen, or blends of these fuels into electricity without combustion, suitable for continuous, always on power generation.
• Bloom Electrolyzer: A solid oxide electrolyzer system that runs the fuel cell process in reverse, using electricity to produce hydrogen, positioning Bloom to participate in the broader hydrogen production and storage market.
• Microgrid solutions: Combined Energy Server deployments designed to provide resilient, always on power independent of grid outages, used in facilities ranging from manufacturing plants to hospitals.
• AI data center power blocks: Large scale, multi unit Energy Server deployments purpose built to replace or supplement traditional gas turbines and diesel backup generators at AI and cloud computing data centers, as demonstrated in Bloom’s agreement with Oracle.
• Service and monitoring contracts: Ongoing maintenance and performance monitoring for deployed systems, supporting what the company describes as close to a 100 percent attach rate between product sales and long term service agreements.

Revenue Breakdown

Bloom Energy’s revenue is split across product sales, installation, service, and electricity, with product sales making up the large majority of the total and driving most of the company’s recent growth.

Beyond the reported revenue categories, Bloom Energy’s forward revenue picture is shaped heavily by a small number of very large contracts. The company’s expanded master services agreement with Oracle covers up to 2.8 gigawatts of fuel cell capacity to support AI and cloud infrastructure, while its offtake agreement with American Electric Power is valued at approximately $2.65 billion over 20 years for up to 1 gigawatt of capacity. Management has described more than half of its current data center backlog as coming from hyperscalers, neoclouds, and colocation providers beyond the Oracle relationship, indicating a broadening customer base rather than dependence on a single buyer.

Financial Performance

Bloom Energy’s financial profile has shifted sharply over the past year, moving from a company with persistent GAAP losses to one posting record revenue growth alongside its first quarterly GAAP profit in some time.

Selected first quarter 2026 financial results

Metric	Q1 2026	Year over year change
Revenue	$751.1 million	Up 130.4 percent
GAAP gross margin	30.0 percent	Up from 27.2 percent
Non-GAAP gross margin	31.5 percent	Up 2.8 percentage points
GAAP net income	$70.7 million	Reversed a prior year net loss
Non-GAAP operating income	$129.7 million	17.3 percent operating margin
Adjusted EBITDA	$143.0 million	Approximately 19 percent margin
Operating cash flow	$73.6 million	Improved by $184.3 million
Cash and cash equivalents	Approximately $2.49 billion	Against recourse debt of about $2.60 billion

For full year 2026, Bloom Energy has guided for non-GAAP operating income of $600 million to $750 million, non-GAAP earnings per share of $1.85 to $2.25, and adjusted EBITDA of $650 million to $800 million, alongside expectations for operating cash flow above $200 million. Management has framed this growth around a shift toward continuous, non lumpy capacity additions, targeting hundreds of megawatts of new manufacturing capacity per quarter as it scales toward a roughly 5 gigawatt annual production footprint.

Stock Information

Bloom Energy completed its initial public offering on the New York Stock Exchange in July 2018. The stock endured a volatile first several years as a public company, including a decline of nearly 50 percent by 2020 amid questions about the company’s path to profitability, before surging dramatically starting in 2025 as demand for AI data center power reshaped investor perception of the business.

Snapshot trading data as of early July 2026

Recent share price	Roughly $280 to $300, varying by session
Market capitalization	Approximately $80 billion to $90 billion depending on the trading day
52 week range	Approximately $21.52 to $351.28
One year return	Over 1,000 percent, among the strongest of any large cap stock over the period
Price to earnings ratio	Extremely high or not meaningful on a trailing GAAP basis, reflecting the company’s recent shift to profitability
Average analyst rating	Generally Buy, with price targets raised by multiple firms into the $275 to $350 range following recent earnings and partnership news

BE shares have moved sharply on individual pieces of news throughout 2026, including double digit single day swings tied to major contract announcements such as the Oracle master services agreement, the expanded Brookfield financing partnership, and shifting sentiment toward competing fuel cell names such as FuelCell Energy and Plug Power. This level of volatility is typical for a stock whose valuation reflects expectations of continued rapid growth rather than current trailing earnings.

Dividends

Bloom Energy does not pay a dividend. The company is directing its cash flow and balance sheet capacity toward funding rapid manufacturing expansion, research and development, and project financing needed to fulfill its large data center and utility contract backlog. This approach is standard for a capital intensive growth technology company in the early stages of scaling profitability, and investors in BE are generally positioned for capital appreciation tied to continued growth in AI and data center power demand rather than income.

Competitors

Bloom Energy competes primarily within the stationary fuel cell and distributed power generation market, alongside a broader set of companies addressing the AI data center power shortage.

Selected Bloom Energy competitors

Competitor	Positioning
FuelCell Energy (FCEL)	A smaller stationary fuel cell maker that has pursued data center power contracts and integrated thermal to cooling technology to manage AI chip heat, though at a much smaller revenue scale than Bloom.
Plug Power (PLUG)	Focused primarily on green hydrogen production and hydrogen fuel cell systems, marketed as a carbon neutral alternative in regions where natural gas permitting is more difficult.
Generac and Caterpillar	Established manufacturers of traditional gas turbines and diesel backup generators, representing the incumbent, combustion based alternative that Bloom’s non combustion systems are positioned against.
Traditional utilities and grid operators	Data center operators can also choose to wait for expanded grid interconnection capacity from local utilities rather than deploying on site generation, though multi year interconnection queues have driven interest toward faster on site alternatives like Bloom’s.
Capstone Green Energy	A smaller maker of microturbine based distributed generation systems serving some of the same commercial and industrial customer base.

Bloom Energy’s most direct comparisons are typically drawn against FuelCell Energy and Plug Power, since all three are publicly traded fuel cell companies, though Bloom is substantially larger, with first quarter 2026 revenue of $751.1 million compared with roughly $36 million for FuelCell Energy and approximately $164 million for Plug Power over comparable periods. Bloom has also secured deals with data center customers including Oracle, Amazon, and American Electric Power, which analysts frequently cite as evidence of a wider commercial lead over its smaller fuel cell peers.

Recent News

• Early July 2026, expanded Brookfield partnership: Bloom Energy and Brookfield announced an expansion of their strategic AI power financing partnership from $5 billion to $25 billion, with shares reacting sharply, including a notable pullback shortly after the announcement as some investors weighed near term dilution and execution questions against the long term financing benefit.
• Early July 2026, analyst price target increases: Multiple Wall Street firms raised price targets on Bloom Energy following the Brookfield expansion and continued AI data center momentum, including a target increase to $285 at Roth Capital and constructive commentary from Morgan Stanley on the signal sent by the expanded financing agreement.
• April 2026, expanded Oracle agreement: Bloom Energy announced an expanded master services agreement with Oracle under which Oracle intends to procure up to 2.8 gigawatts of Bloom’s fuel cell systems to support its AI and cloud computing infrastructure buildout, including its Project Jupiter data center program, sending shares up sharply on the announcement.
• April 2026, record first quarter results: The company reported first quarter 2026 revenue of $751.1 million, up 130.4 percent year over year, alongside a swing to GAAP net income and a material increase to full year 2026 guidance.
• January 2026, American Electric Power agreement: Bloom Energy finalized a $2.65 billion, 20 year offtake agreement with American Electric Power for up to 1 gigawatt of solid oxide fuel cell capacity, one of the largest utility scale agreements in the company’s history.
• 2026, sector wide fuel cell competition: Rivals FuelCell Energy and Plug Power have both drawn renewed investor attention with their own data center related announcements and revenue growth, occasionally pressuring Bloom Energy shares on a relative valuation basis even as Bloom continues to report much larger absolute revenue and contract wins.
• 2026, continued manufacturing expansion: Bloom Energy has continued to scale production at its California and Delaware manufacturing facilities, working toward a stated goal of adding hundreds of megawatts of new capacity per quarter to support its growing order backlog.

Frequently Asked Questions

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