Today, Bloom energy (NYSE: BE), a leader in fuel cell solutions, revealed aspirations to diversify beyond its core business and enter the commercial hydrogen market. In partnership with SK Engineering and Construction (SK E&C), Bloom Energy aims to produce hydrogen-powered fuel cells and electrolyzers that produce renewable hydrogen in South Korea. By the end of the year, Bloom Energy expects to deliver a 100-kilowatt pilot server to SK E&C, which the company will use to power one of its facilities in early 2021. The two companies then hope to install 1-megawatt hydrogen. Server installation in 2022.
Addressing the company’s new venture, KR Sridhar, founder, president and CEO of Bloom Energy, said: “This expansion of our product offering enables carbon-free transportation and electricity solutions. Innovation and execution are core principles of our business and we are excited about the opportunity to advance the hydrogen economy with our longtime partner, SK E&C. “
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South Korea has demonstrated a remarkable commitment to incorporating hydrogen into its energy landscape. South Korea aims to generate 15 gigawatts of energy from fuel cells by 2040, according to its Hydrogen Economy Roadmap revealed in January 2019. In addition, Bloom Energy has built a for-profit relationship with SK E&C in the past three years, a period during which the company has generated more than $ 1 billion in equipment and future service revenue.
Bloom Energy is not the only fuel cell company expressing interest in hydrogen generation. In June, Plug (NASDAQ: PLUG) completed two acquisitions, which the company believes will enhance its “position in the hydrogen industry with capabilities in hydrogen fuel generation, liquefaction, and distribution that complement its industry-leading position in the design, construction, and operation of gas service stations. customer-oriented hydrogen. “
