Bloom Energy & SK E&C Win Competitive Bid for Korea’s Changwon RE100 Project to Supply 100% Hydrogen-Powered Solid-Oxide Fu...
November 18 2020 - 09:03AM
Business Wire
RE100 Global Program Aims to Create Fully
Renewable Ecosystems
Bloom Energy (NYSE: BE) and SK Engineering and Construction (SK
E&C) today announced they have won a competitive Request for
Proposal (RFP) under the RE100 program to supply solid-oxide fuel
cells (SOFC) powered by 100 percent hydrogen and electrolyzers to
an industrial complex in Changwon, Korea. The RE100 is a global
renewable energy initiative led by the Climate Group to accelerate
the move toward zero-carbon electricity grids. The Changwon RE100
proposal process, run by the Korean Industrial Complex Corporation,
is a project aimed at identifying and selecting partners to
contribute to a fully renewable ecosystem in Korea.
Bloom Energy will supply 1.8 megawatts of hydrogen-powered fuel
cells through a multi-stage deployment from late 2021 into 2022.
The fuel cells will be the cornerstone of a microgrid that also
includes onsite solar and battery storage.
“SK E&C and Bloom Energy are paving the way toward a
zero-carbon energy future,” said Jason Ahn, CEO, SK E&C. “With
a projected domestic deployment of 8.4 gigawatts of stationary fuel
cells, coupled with an additional 6.6 gigawatts for international
export, Korea is trailblazing the hydrogen economy. We are honored
to be selected by the Korean Industrial Complex Corporation for
this inspiring RE100 project – a testament to Bloom Energy and SK
E&C’s market leadership.”
In addition, Bloom Energy intends to supply its solid oxide
electrolyzer cells (SOEC), which will be capable of producing green
hydrogen via solar and battery, to the site in 2022. The green
hydrogen produced by the SOEC, which is created through
electrolysis by converting water and renewable electricity into
hydrogen without carbon emissions, will be used to power the
hydrogen SOFC.
“Since Bloom Energy’s founding, nearly two decades ago, we’ve
known that our technology platform could play a critical role in
the hydrogen economy,” said KR Sridhar, founder, chairman and CEO,
Bloom Energy. “When it came to hydrogen, the question was never if
– but when. With emerging interest in the adoption of hydrogen, our
commercial hydrogen strategy is on schedule, and the timing for
market entry is right. As the world’s most significant and
influential consumers demand and conform to RE100 standards, we are
well-positioned with our technology platform to lead in this
massive global transformation.”
In July, Bloom Energy announced it would introduce
hydrogen-powered fuel cells and electrolyzers that produce
renewable hydrogen to the South Korean market through its
longstanding partnership with SK E&C. That project, under which
100 kilowatts of hydrogen-powered Bloom Energy Servers are
scheduled to ship by the end of the year, is expected to power on
in early 2021.
As hydrogen is both widely available and contains no carbon,
many governments are now recognizing it as an essential tool for
full decarbonization. South Korea’s government-supported Hydrogen
Economy Roadmap is notably among the most ambitious in the world,
with the aim of ensuring 15,000 megawatts of hydrogen fuel cell
installations, 6.2 million hydrogen vehicles and 1,200 hydrogen
charging stations are in operation by 2040. In addition, 66
countries and nearly all of the largest utilities in the United
States have pledged to fully or significantly decarbonize by
2050.
Later today, at 4:30 p.m. EST/1:30 p.m. PST, Bloom Energy will
host an investor conference call to discuss its approach to
hydrogen as well as an update on its entry into the commercial
hydrogen market and its hydrogen-powered fuel cells.
For more details, visit:
https://www.bloomenergy.com/newsroom/press-releases/bloom-energy-announces-upcoming-investor-event-nov-18-2020
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy
affordable for everyone in the world. The company’s product, the
Bloom Energy Server, delivers highly reliable and resilient,
always-on electric power that is clean, cost-effective, and ideal
for microgrid applications. Bloom’s customers include many Fortune
100 companies and leaders in manufacturing, data centers,
healthcare, retail, higher education, utilities, and other
industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws that involve risks and
uncertainties. Words such as “anticipates,” “could,” “expects,”
“intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,”
“can,” “may,” “will,” “would” and similar expressions identify such
forward-looking statements. These statements include, but are not
limited to, Bloom Energy’s expectations regarding the hydrogen fuel
cell market in South Korea, Bloom Energy’s expectations regarding
its hydrogen-powered fuel cells and electrolyzers, and Bloom
Energy’s ability to successfully deliver these new hydrogen
applications. These statements should not be taken as guarantees of
results and should not be considered an indication of future
activity or future performance. Actual events or results may differ
materially from those described in this press release due to a
number of risks and uncertainties, including those included in the
risk factors section of Bloom Energy’s Annual Report on Form 10-K
for the year ended December 31, 2019, its most recent Quarterly
Report on Form 10-Q for the quarter ended September 30, 2020 and
other risks detailed in Bloom Energy’s SEC filings from time to
time. Bloom Energy undertakes no obligation to revise or publicly
update any forward-looking statements unless if and as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20201118005232/en/
Media Relations: Jennifer Duffourg Bloom Energy +1 (480)
341-5464 Jennifer.Duffourg@bloomenergy.com Investor
Relations: investor@bloomenergy.com
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