Market Pulse Archives

July 15, 2020, 12:20 p.m. EDT

Bloom Energy stock soars 30% after hydrogen fuel cell play

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Bloom Energy Corp. (BE)
  • X
    S&P 500 Index (SPX)
  • X
    Dow Jones Industrial Average (DJIA)

or Cancel Already have a watchlist? Log In

By Claudia Assis

Bloom Energy Corp. /zigman2/quotes/209802424/composite BE +3.91% shares rose nearly 30% on Wednesday after the alternative-energy company said it is making inroads into the commercial hydrogen-fuel market. Bloom said it is making hydrogen-powered fuel cells and electrolyzers that produce renewable hydrogen, with the first cells expected to be sold in South Korea next year through a partnership with an affiliate of Korean conglomerate SK Group. "This expansion of our product offering enables zero-carbon electricity and transportation solutions," Bloom's founder and Chief Executive KR Sridhar said in a statement. "Innovation and execution are fundamental tenets of our business and we are excited about the opportunity to advance the hydrogen economy with our long-time partner, SK E&C." Bloom Energy makes solid oxide fuel cells that are used in stationary power-generation servers placed at client locations. Bloom stock has gained 135% this year, contrasting with losses around 0.5% and 6% for the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.27% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.30% .

/zigman2/quotes/209802424/composite
US : U.S.: NYSE
$ 13.03
+0.49 +3.91%
Volume: 3.64M
Aug. 10, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.68 billion
Rev. per Employee
$486,902
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,360.47
+9.19 +0.27%
Volume: 2.57B
Aug. 10, 2020 5:12p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,791.44
+357.96 +1.30%
Volume: 362.50M
Aug. 10, 2020 5:12p
loading...

Get news alerts on Bloom Energy Corp. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.