Bloom privately reports $32 million Q3 loss.
For years, the knock on fuel cell maker Bloom Energy Corp. has been that its boxes cost more to make than they cost to buy. Not exactly the sort of dynamic that would help Bloom make it up on volume.
But perhaps things are finally about to change, after 10 years and nearly $1 billion in venture capital funding.
Fortune recently obtained confidential documents sent by Bloom to its "significant investors," detailing third quarter earnings and the company's broader financial position. We also have managed to learn some broader context around the numbers, and have received what is believed to be the company's first on-the-record statement about its top-line projections for 2013 (all prior requests for information had gone unanswered).
For the uninitiated, Bloom was founded by K.R. Sridhar in 2001 to translate a NASA science experiment into self-generating energy boxes for commercial customers like warehouses and data centers. The idea is basically to place solid oxide fuel cells on a company's premise, which convert air and natural gas into electricity via an electrochemical process. After several field trials, it shipped its first boxes to Google (GOOG) in July 2008 and since has secured paying customers like Wal-Mart (WMT), Federal Express (FDX) and AT&T (T). It also has expanded the business model to include box rentals (where customers pay on a consumption basis, kind of energy-as-a-service), and also is rolling out advanced boxes that can operate independent of the gas grid if needed (the new module also can be added onto existing boxes).
Despite the customer wins and technological advancements, however, Bloom has a reputation for burning money.
PROINSO donates PV products for PV-diesel hybrid energy system to MORU, leading malaria research uni
• The PV modules and hybrid inverter will be installed at the Shoklo Malaria Research Unit (SMRU), a major research site of the Mahidol-Oxford Tropical Medicine Research Unit (MORU).
International wind industry converges AT HANNOVER MESSE 2013
Wind Fair on Growth Trajectory; All Industry Leaders Exhibiting; New Offshore Theme Park
21 megawatts: Conergy wins major contract for two solar power plants in Thailand
System supplier with a total of six solar parks is one of Thailand's market leaders
Carmanah to Build Innovative PV System for BrightRoof Solar
Will begin installation of the rooftop facility in Wallaceburg, Ontario later this month.
Panasonic Succeeds in Total Solar Eclipse Live Broadcast by Solar Power
The solar eclipse was broadcasted from two bases at seashore, Port Douglas and Fitzroy Island
Rhone Resch to Explore Market Outlook at Solar Energy Focus 2012
SEIA President & CEO Rhone Resch will join expert panel at Solar Energy Focus 2012 to discuss post-election solar market scenarios and the future of solar energy both regionally and nationally.
Anderson Power Products Announces Mid Power SPEC Pak®
Is rugged and environmentally sealed (IP68) and leverages APP's core Powerpole® flat wiping contact technology.
INTERSOLAR INDIA 2012: THE NEWEST TECHNOLOGIES IN A GROWING MARKET
Exhibitors and organizers report positive outcome
Solar Energy: TÜV Rheinland Involved in Construction of World's First Commercial Fresnel Solar Power Plant as an Independent Certifier
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SeaRoc successfully install floating wind lidar for Garden State Offshore Energy – SeaZephIR® noted as ‘the future of offshore data collection' for wind farms
Garden State Offshore Energy is a planned utility scale project of approximately 1,000MW installed capacity, over 20 miles offshore due east of Avalon, NJ.
DEGER equips two solar parks in Bosnia- Herzegovina with 30 Tracking Systems
DEGER is world market leader in the field of solar tracking system.
GE Turbines Powering Bhoruka Wind Farm in Karnataka, India
Turbine Production Outpacing Projected Power Output-----
Project Installed and Commissioned Ahead of Schedule-----
GE Operating and Maintaining the 17, 1.5-77 Turbine Fleet
New Vishay Foil Resistors Alternative Energy Video Simulation Highlights the Stability of VCS1625Z Current Sense Resistor in Solar Panels
The resistor's stability won't change due to self-heating when carrying increased current loads.
Google invests $75 million in RPMA-owned Iowa wind farm
The 50 megawatt facility, located in Greene County, Iowa was built
by RPMA
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