Bloom Energy Corp. BE,
Shares were up nearly 30% on Wednesday after the alternative energy company said it is entering the commercial hydrogen fuel market. Bloom said he is manufacturing hydrogen-powered fuel cells and electrolyzers that produce renewable hydrogen, and the first cells are expected to be sold in South Korea next year through a partnership with a subsidiary of Korean conglomerate SK Group. “This expansion of our product offering enables carbon-free transportation and electricity solutions,” Bloom Founder and CEO KR Sridhar said in a statement. “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.” Bloom Energy manufactures solid oxide fuel cells for use in stationary power generation servers located at customer locations. Bloom shares gained 135% this year, in contrast to losses of around 0.5% and 6% for the S&P 500 SPX index,
and the Dow Jones Industrial Average DJIA,
.
