BE on NYSE

Bloom Energy

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons5

American fuel cell company

Bloom Energy Corporation (formerly, Ion America Corp.) is an American public company that designs and manufactures solid oxide fuel cells (SOFCs) which independently produce electricity onsite for power generation in data centers, manufacturing, and other commercial sectors. It was founded in 2001 and headquartered in San Jose, California; its fuel cell technology generates electricity through a chemical conversion process, which differs from most other power sources reliant on combustion, and can use natural gas, biogas or hydrogen as fuel.3 It was founded by K. R. Sridhar.1 Its shares trade on NYSE under the symbol BE.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

2002Founded1

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  • TickerBE on NYSE1
  • Industryalternative energy industry, electronics industry1
  • HeadquartersSunnyvale1
  • Websitewww.bloomenergy.com
  • Legal formCorporation4
  • LEI549300XB5J9BFW5JXV974
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address251 LITTLE FALLS DRIVE, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 33456814
Bloom Energy building sign (Sunnyvale)
Photo: BrokenSegue, CC BY-SA 4.0, via Wikimedia Commons8

Bloom Energy Corporation (formerly, Ion America Corp.) is an American public company that designs and manufactures solid oxide fuel cells (SOFCs) which independently produce electricity onsite for power generation in data centers, manufacturing, and other commercial sectors. It was founded in 2001 and headquartered in San Jose, California; its fuel cell technology generates electricity through a chemical conversion process, which differs from most other power sources reliant on combustion, and can use natural gas, biogas or hydrogen as fuel. Its SOFCs are deployed on-site where energy is consumed, reducing reliance on central power grid. Bloom also developed electrolyzers for hydrogen production, and holds more than 1000 patents globally.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

29.3%Gross margin9
3.6%Operating margin9
-4.4%Net margin9
38.9%Revenue growth, 20259
-11.3%Return on equity9
3.40×Debt to equity9
$57.2MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 77% of the revenue Bloom Energy broke down this way in fiscal 2025.

  1. Product$1.5B977%up 41% from 2024
  2. Service$228.3M911%up 7% from 2024
  3. Installation$204.1M910%up 67% from 2024
  4. Electricity$38.0M92%up 86% from 2024
Products and services by year
Products and services202320242025
Product$975.2M$1.1B$1.5B
Service$183.1M$213.5M$228.3M
Installation$92.8M$122.3M$204.1M
Electricity$17.7M$20.4M$38.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue72¢$1.4B
  • Research and development9¢$186.0M
  • Other costs19¢$376.3M
  • Income tax0¢$2.7M

Out of $2.0B in revenue.9 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending50¢$56.8M
  • Dividends paid1¢$947.0K
  • Kept or used elsewhere49¢$56.2M

Out of $113.9M of cash from operations.9

Financial statements

Revenue101112139$2.0B in 2025+176% since 2019
0$1.0B$2.0B$3.0B2019: $724.8M$724.8M20192020: $731.2M$731.2M2020+1%2021: $906.9M$906.9M2021+24%2022: $1.1B$1.1B2022+25%2023: $1.3B$1.3B2023+12%2024: $1.4B$1.4B2024+14%2025: $2.0B$2.0B2025+39%
Gross profit101112139$587.4M in 2025+502% since 2019
0$200.0M$400.0M$600.0M2019: $97.6M$97.6M20192020: $165.8M$165.8M2020+70%2021: $197.6M$197.6M2021+19%2022: $148.3M$148.3M2022−25%2023: $197.8M$197.8M2023+33%2024: $404.6M$404.6M2024+105%2025: $587.4M$587.4M2025+45%
Operating income101112139$72.8M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M2019: -$232.8M-$232.8M20192020: -$80.8M-$80.8M2020−65%2021: -$114.5M-$114.5M2021+42%2022: -$261.0M-$261.0M2022+128%2023: -$208.9M-$208.9M2023−20%2024: $22.9M$22.9M20242025: $72.8M$72.8M2025+218%
Net income10129-$87.1M in 2025−71% since 2019
-$400.0M-$300.0M-$200.0M-$100.0M02019: -$304.4M-$304.4M20192020: -$157.6M-$157.6M2020−48%2021: -$164.4M-$164.4M2021+4%2022: -$301.7M-$301.7M2022+83%2023: -$302.1M-$302.1M2023+0%2024: -$27.2M-$27.2M2024−91%2025: -$87.1M-$87.1M2025+220%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Gross profit$587.4M$404.6M$197.8M
Research and development$186.0M$148.6M$155.9M
Sales and marketing$130.2M$68.0M$90.0M
General and administrative$198.4M$165.1M$160.9M
Total operating expenses$514.6M$381.7M$406.7M
Income (loss) from operations$72.8M$22.9M-$208.9M
Interest income$34.1M$25.3M$19.9M
Interest expense-$53.9M-$62.6M-$108.3M
Equity in loss of unconsolidated affiliates-$40.4M$0$0
Other income (expense), net$2.2M$15.9M-$2.8M
Loss on extinguishment of debt-$32.3M-$27.2M-$4.3M
Debt conversion inducement expense-$66.2M$0$0
Loss on revaluation of embedded derivatives-$537.0K-$694.0K-$1.6M
Loss before income taxes-$84.4M-$26.4M-$306.0M
Income tax provision$2.7M$846.0K$1.9M
Net loss-$87.1M-$27.2M-$307.9M
Less: Net income (loss) attributable to noncontrolling interest$1.3M$2.0M-$5.8M
Net loss attributable to common stockholders-$88.4M-$29.2M-$302.1M
Net loss per share available to common stockholders, basic (in dollars per share)-$0.37-$0.13-$1.42
Net loss per share available to common stockholders, diluted (in dollars per share)-$0.37-$0.13-$1.42
Weighted average shares used to compute net loss per share available to common stockholders, basic (in shares)240.4M shares227.4M shares212.7M shares
Weighted average shares used to compute net loss per share available to common stockholders, diluted (in shares)240.4M shares227.4M shares212.7M shares
Revenues$2.0B$1.5B$1.3B
Cost of revenue$1.4B$1.1B$1.1B
Interest expense$38.1M$37.2M$27.6M

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Corporate structure

Bloom Energy sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Bloom Energy

  • Bloom Energy San Jose, California, United States
    • BLOOM ENERGY (INDIA) PRIVATE LIMITED Subsidiary · 100% · Bangalore, India
    • 2013B ESA PROJECT COMPANY, LLC Subsidiary · San Jose, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

The story

Founded by K. R. Sridhar in 2002.1

The company was founded in 2001 as Ion America, then was renamed Bloom Energy in 2006. Bloom traces its roots to the work of KR Sridhar who created a technology to convert Martian atmospheric gases to oxygen for propulsion and life support, using a solid oxide fuel cell electrolyzer (SOEC), while director of the Space Technologies Laboratory at the University of Arizona. Sridhar and his team built an electrochemical cell for NASA that is capable of producing air and fuel from electricity generated by a solar panel. Bloom shipped its first 5 kW (kilowatt) unit to the University of Tennessee, where two years of field trials conducted in three U.S. states validated the technology. The first 100 kW commercial units, ES-5000 Energy Servers, were shipped to Google in July 2008.

The company worked in secret for eight years before coming out of stealth mode in February 2010, and introducing its Bloom Energy Server, or "Bloom Box", a fuel-cell technology that enables on-site carbon-neutral electricity generation. Bloom Energy was featured on 60 Minutes, supported by political figures and named one of 26 "2010 Tech Pioneers" by the World Economic Forum. The Bloom Box generator was also chosen among Time's "Best 50 Inventions of 2010". The company raised $400 million in funding that year, and had 300 employees. The San Francisco Chronicle later reported that Bloom had "a coming-out party packed with politicians and Silicon Valley elite".

In 2011, the company also began selling electricity produced by Bloom Energy Servers, rather than selling the units themselves, underwriting manufacture of the fuel cells. A federal subsidy for fuel cells expired in 2016, and the California Self-Generation Incentive Program was discontinued the following year, as the state focused its subsidies on batteries.

Bloom was valued at $2.9 billion in 2011, then producing about one Bloom Box per day, until opening a factory in Newark, Delaware, in April 2012. By 2013, it had raised $1.1 billion in funding, which was followed by additional funding rounds, in 2014 and 2015. Company revenues grew rapidly, though its development phase was unprofitable, in some years losing more than $200 million.

Federal subsidies that had expired in 2016 were restored in 2018. Bloom Energy filed an IPO that July, stating that it did not expect to be profitable in the near future, and disclosing a legal settlement with some of its investors. Later that year, Bloom moved headquarters from Sunnyvale to San Jose. By 2020, shares had lost nearly 50% in value. Though not profitable in its first 19 years of operation, the company had raised over $1.7 billion in capital for its technology. In July 2019, Duke Energy corporation announced the intention of acquiring a 37 MW portfolio of distributed SOFC technology projects from Bloom Energy. later reselling the distributed fuel-cell projects managed by Bloom to ArcLight Capital Partners, in October 2023.

In 2020, in preparation of a possible critical demand for ventilators during the COVID-19 pandemic; Bloom pivoted its operation to repair and refurbish ventilators for the state of California. and helped provide a mobile vaccination clinic to about 80,000 individuals. After generating hydrogen from its SOEC at NASA’s Ames Research Center in Mountain View, California, with 20–25% more efficiency than traditional methods; in November 2022, Bloom Energy's Delaware factory began manufacturing its high-volume commercial electrolyzer, the largest and most efficient in the world to date, producing 20-25% more hydrogen per MW than either proton exchange membrane (PEM) or alkaline electrolyzers.

In November 2024, Bloom Energy partnered with SK Eternix to power two Eco Parks with Bloom SOFCs by Spring 2026, in Chungju, North Chungcheong Province, South Korea, the largest fuel cell installation in history. The same month, the company agreed to expand its existing SOFC installation with Quanta Computers by 150%, in order to power critical artificial intelligence (AI) industry hardware, and was contracted by American Electric Power (AEP) to provide a GW of fuel cell capacity to industrial customers on-site, supporting an increasing demand for energy to fuel the needs of data centers, especially those powering AI.

In February 2025, digital infrastructure company Equinix increased its Bloom contract to exceed 100 MW of combined electricity to power its International Business Exchange (IBX) data centers throughout the U.S. That month, the company also entered a carbon capture partnership with Chart Industries to provide low-emission, always-on, near zero-carbon power using natural gas and carbon sequestration technology for high-energy consumption industries, to meet the increasing demands of AI and cryptocurrency.

Read the full text

In April 2026, Bloom Energy and Oracle announced a partnership for 2.8 gigawatts of Bloom Energy's fuel cell capacity. This would include Project Jupiter, a 2.45 gigawatt data center in Doña Ana County, New Mexico, powered entirely by Bloom Energy's products. Oracle claimed that this partnership would "dramatically reduce water use" compared to using a previously planned natural gas power plant.

In July 2026, Bloom Energy reported record quarterly revenue of $1.07 billion (up 165% year-over-year), raised full-year 2026 revenue guidance to $3.9 to $4.2 billion, and disclosed a total backlog of approximately $20 billion including product backlog approaching $6billion.

From Wikipedia’s article on Bloom Energy, shared under CC BY-SA 4.0.6

Leadership

Who has led Bloom Energy, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (25)

Products and brands

  • Bloom Energy Server

Listed on Wikidata.1

Bloom Energy leverages natural gas and other fuels to create electricity through chemical reactions without combustion, and builds decentralized energy systems that produce electricity. The company designs, manufactures, markets, and installs SOFC power generators, branded as Bloom Energy Servers (also known as Bloom Boxes) that use fuel cells to convert natural gas, or biogas, into electricity for on-site power generation. According to The New York Times, SOFCs are "considered the most efficient but most technologically challenging fuel-cell technology." Instead of precious metals, Bloom Energy's fuel cells use wafers made from sand that are stained with proprietary ink. As fuel passes over the sand wafers, it mixes with oxygen, creating a chemical reaction that produces electricity. The chemical reaction takes place at about 800 degrees Celsius (1,500 degrees Fahrenheit).

Bloom Energy Server systems are typically installed at customer locations, with long-term contracts to supply electricity. The units can be installed as a micro power grid in a small community, or be clustered together to create an energy farm for large-scale utility. Bloom Boxes are often used for on-site power generation at data centers, being a primary driver of rising electricity demand, as well as health centers, manufacturing facilities, and other large buildings. Power produced by company-owned distributed power generators is offered at a rate 5-15% lower than the local power grid.

The fuel cells are housed in metal cabinets, with each producing about 200 to 300 kilowatts (kW) of electricity. As of 2018, Bloom had installed about 300 megawatts of units. Delaware state data found, in 2014, that Bloom's fuel cells produce about 823 pounds of carbon dioxide per megawatt hour (MWh), less than the approximately 1,000 pounds produced when power is taken from the electrical grid, and higher than the 777 Bloom used to advertise, without calculating the decline in efficiency of the appliances as they age. As of 2018 data, the U.S. Energy Information Administration reports coal producing 2,210 pounds of CO2 per MWh, and natural gas at 920 pounds per MWh.

From Wikipedia’s article on Bloom Energy, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Owners

Subsidiaries (Exhibit 21)

  • Bloom Energy (India) Pvt. Ltd India7
  • Bloom SK Fuel Cell, LLC South Korea7

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 28, 20268-K Results of operations; Regulation FD disclosure49
  2. Jul 9, 20268-K Regulation FD disclosure50
  3. Jun 22, 20268-K Executive or director change51
  4. Jun 17, 20268-K Executive or director change52
  5. May 27, 20268-K Bylaws or fiscal year changed; Shareholder vote53
  6. Apr 28, 20268-K Results of operations; Regulation FD disclosure54
  7. Apr 27, 20268-K Other events55
  8. Apr 13, 20268-K Entered a material agreement; Unregistered sale of shares56
  9. Mar 26, 20268-K Executive or director change; Regulation FD disclosure57
  10. Feb 5, 20268-K Results of operations; Regulation FD disclosure58
  11. Dec 23, 20258-K Entered a material agreement; New debt or obligation59
  12. Nov 4, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares60
  13. Jul 24, 2018New chief executive Kr Sridhar becomes CEO18
  14. 2002Founded Founded1

Calendar

Coming up

  1. Oct 22, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.01) a share, on Oct 28, 2025.61

When it reported results

  1. Jul 28, 2026Reported quarterly or annual results49
  2. Apr 28, 2026Reported quarterly or annual results54
  3. Feb 5, 2026Reported quarterly or annual results58
  4. Oct 28, 2025Reported quarterly or annual results62
  5. Jul 31, 2025Reported quarterly or annual results63
  6. Apr 30, 2025Reported quarterly or annual results64
  7. Feb 27, 2025Reported quarterly or annual results65
  8. Nov 7, 2024Reported quarterly or annual results66

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

625 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 63 major events, 319 insider forms, 45 large holders, 177 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 1, 2026144 EDGAR
  5. Sep 18, 20264 EDGAR
  6. Sep 18, 20264 EDGAR
  7. Sep 18, 20264 EDGAR
  8. Sep 18, 20264 EDGAR
  9. Sep 16, 2026144 EDGAR
  10. Sep 16, 2026144 EDGAR
  11. Sep 16, 2026144 EDGAR
  12. Sep 16, 2026144 EDGAR
  13. Sep 3, 20264 EDGAR
  14. Aug 31, 20264 EDGAR
  15. Aug 18, 20264 EDGAR
  16. Aug 18, 20264 EDGAR
  17. Aug 18, 20264 EDGAR
  18. Aug 18, 20264 EDGAR
  19. Aug 17, 2026144 EDGAR
  20. Aug 14, 2026144 EDGAR

The 625 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Aman JoshiChief Commercial Officer$617.5K$5.9M77
2025Shawn M. SoderbergChief Legal Officer and Corporate Secretary$585.4K$4.4M77
2025Satish ChitooriChief Operations Officer$563.5K$4.4M77
2025KR SridharFounder, Chairman and Chief Executive Officer$935.4K$3.5M77
2025Maciej KurzymskiChief Accounting Officer and Acting Principal Financial Officer$417.0K$1.7M77
2025Daniel Berenbaum9 former Chief Financial Officer$218.9K$803.0K77
2024KR SridharFounder, Chairman and Chief Executive Officer$876.9K$45.0M77
2024Aman JoshiChief Commercial Officer$544.0K$8.1M77
2024Daniel Berenbaum9 former Chief Financial Officer$364.9K$4.8M77
2024Shawn M. SoderbergChief Legal Officer and Corporate Secretary$539.9K$2.9M77
2024Satish ChitooriChief Operations Officer$457.7K$2.3M77
2023Shawn M. SoderbergChief Legal Officer and Corporate Secretary$509.5K$2.9M77
2023KR SridharFounder, Chairman and Chief Executive Officer$813.8K$1.7M77

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.18,442,336$5.6B0.1%−6,618,470
Ameriprise Financial Inc18,134,575$5.5B1.1%−4,754,452
Goldman Sachs Group Inc13,950,652$4.2B0.4%+4,830,139
Vanguard Portfolio Management LLC12,549,603$3.8B0.2%−280,178
Vanguard Capital Management LLC12,082,447$3.7B0.1%+285,629
Jpmorgan Chase & Co8,085,893$2.2B0.1%+6,365,170
Morgan Stanley7,313,415$2.2B0.1%−330,819
State Street Corp6,315,431$1.9B0.1%−158,186
Situational Awareness LP6,272,808$1.9B9.4%−212,600
Value Aligned Research Advisors, LLC5,585,179$1.7B10.1%+1,000,448
Graticule Asia Macro Advisors LLC4,207,505$1.3B95.5%−335,700
Jane Street Group, LLC4,168,454$1.3B0.8%−753,837
D. E. Shaw & Co., Inc.4,158,295$1.3B0.8%−51,162
Geode Capital Management, LLC3,793,446$1.2B0.1%−2,153,630
Norges Bank3,297,042$998.0M0.1%New
Sands Capital Management, LLC2,926,558$885.9M3.3%+1,147,520
Jennison Associates LLC2,554,512$773.3M0.5%−132,517
Millennium Management LLC2,522,461$763.5M0.5%+2,135,300
Capital World Investors2,343,758$709.5M0.1%+504,924
Franklin Resources Inc2,103,658$636.8M0.1%−652,346
Two Sigma Investments, LP2,016,532$610.4M0.5%−1,531,306
Wells Fargo & Company/mn2,004,156$606.7M0.1%+650,218
Fmr LLC1,974,966$597.8M0.0%−776,271
UBS Group AG1,905,234$576.7M0.1%−1,437
Bank Of America Corp /de/1,817,975$550.3M0.0%−393,905

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

13 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 28, 2026Nancy PelosiDemocratic, HouseBuy$500,001 - $1,000,000+28.5%Report
Jul 28, 2026Nancy PelosiDemocratic, HouseBuy$500,001 - $1,000,000+28.5%Report
Jul 24, 2026Nancy PelosiDemocratic, HouseBuy$1,000,001 - $5,000,000+15.3%Report
Jul 24, 2026Nancy PelosiDemocratic, HouseBuy$1,000,001 - $5,000,000+15.3%Report
Jan 30, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+34.7%Report
Dec 24, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000−129.1%Report
Nov 18, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+93.9%Report
Oct 17, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+82.3%Report
Sep 26, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+198.1%Report
Jul 15, 2024Austin ScottRepublican, HouseSale$1,001 - $15,000−1384.6%Report
Oct 21, 2021Austin ScottRepublican, HouseSale$1,001 - $15,000−873.8%Report
Sep 14, 2021Austin ScottRepublican, HouseBuy$1,001 - $15,000+953.1%Report
Aug 10, 2020Austin ScottRepublican, HouseBuy$1,001 - $15,000+1468.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Bloom Energy is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBloom Energy Investment Partners, LLC2
  • CIK0001461886
  • Employer ID (EIN)26-54298242
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Business address3 Drumlin Road, Weston, MA 024932
  • Phone617-283-45382
  • On EDGAR sinceApr 14, 20092
  • Filings2 in all: D (2)2

Sources

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