Bloom Energy Worth $1.45B? Fuel Cell Maker Seeks $150M Series F

12 Comments

bloom_energy-logoIf Kleiner Perkins-backed startup Bloom Energy was “close” to unveiling its fuel cell four months ago, when the company headlined the New York Times Magazine, it’s now within inches. Back then, a reporter who spoke with tight-lipped Bloom CEO K. R. Sridhar and Kleiner VCs concluded that the startup “will almost certainly have a commercial product ready within a year or two.”

Bloom has never been forthcoming with details (unusually so for a company at this stage), and it didn’t confirm the one-to-two-year plan. But documents obtained by VentureWire now suggest the window was a lot wider than they needed. VentureWire (subscription) today reports that Bloom claims to have begun commercial shipments and plans to close a $150 million Series F round of financing by March 2. The offering is based on a pre-money valuation of $1.45 billion, according to VentureWire.

What’s the gameplan? For revenue, Bloom plans to not only sell and lease its 5 KW Bloom boxes (which the Kleiner site describes as “a flexible fuel cell system that produces clean, reliable and affordable energy from a wide range of fuels,” reducing carbon emissions by 50-100 percent per kilowatt) but also enter power-purchasing agreements. Those agreements will be made through an as-yet unnamed wholly owned subsidiary. Within 4-5 years, the company aims to build a multibillion dollar business, says VentureWire. True to stealthy form, Bloom chose not to comment on the dates, valuation or strategy.

12 Comments

JOHN B. D'ANGELO

I HOPE SOMEONE LETS ME KNOW HOW & WHEN I CAN BUY STOCK WOULD LOVE TO GET IN ON THE GROUND FLOOR

Katie Kroutter

Somebody please email me as soon as Bloom Energy hits Wall Street and starts selling its Series F!!! I want some!! Like others said, it will be part of the alternative energy pie that will power everyone in the future!!

vv-tec.com

The Reinhardt turbine achieves greater efficiency and it costs only $10 per KW. The technology is on full display at the company website.

Krish

This is great…so if the folks at vv-tec have proved this technology to work, and can achieve the stated 60% efficiency thereby bypassing the Carnot cycle limitations, then why isn’t this technology in commercial use? The rest of the green-eyed gang is pursuing wind/solar/biomass, and neglecting this important breakthrough? Could it be (wild guess) that the Co2 emissions story isn’t that great with the Reinhardt engine?

D Sakarya

went to the website LOL!
I think they sell Tony Robbins motivation tapes.

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