Bloom Energy

NYSE: BE31Laggard· Provisional

0 followersHydrogen fuel cells·San Jose, California, USA·Founded 2001

www.bloomenergy.com

US manufacturer of solid oxide fuel cells primarily fuelled by natural gas for data centres and industry, with an expanding SOEC electrolyser product line for green hydrogen production.

31/100

Laggard· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: highData confidence: medium

Why it's on ClimateTicker

Bloom Energy manufactures solid oxide fuel cells that generate electricity from natural gas without combustion, claiming significant emissions reductions versus the grid — but the overwhelming majority of deployed capacity runs on fossil natural gas, making the 'clean energy' label materially misleading at scale. The Bloom Electrolyzer (SOEC) product line for green hydrogen production is a genuinely promising climate technology, but remains a small fraction of revenue. The company has faced persistent, credible criticism — including from short-sellers and investigative journalism — that its marketed emissions performance diverges significantly from independently-measured real-world data.

laggardBloom Energy sells and leases its Energy Server (solid oxide fuel cell) systems to data centres, hospitals, and industrial customers for on-site power generation, primarily fuelled by pipeline natural gas; it also sells Bloom Electrolyzer units for green hydrogen production, with revenue augmented by long-term service contracts.

Commitments & Certifications

CDP: No public CDP score found ↗other: Aligned / Self-reported ↗SBTi: Not found — no validated targets on SBTi dashboard ↗

Controversy & Greenwashing Watch

highHindenburg Research greenwashing short report

Hindenburg alleged Bloom's 'clean energy' narrative is a false marketing construct, noting that in clean-grid states the natural-gas fuel cells can be dirtier than the grid they replace, and that biogas use is negligible.source ↗

highDelaware lobbying to reclassify natural gas as 'renewable energy'

Bloom successfully lobbied the state of Delaware to legislatively classify its natural-gas-powered fuel cells as 'renewable energy', allowing them to count toward renewable portfolio standards.source ↗

highHunterbrook short-seller: undisclosed Chinese scandium dependency

July 2026 Hunterbrook Media report alleged Bloom remains reliant on Chinese-sourced scandium for its fuel cells despite repeated assurances to investors that it is not China-dependent for the material.source ↗

highActual emissions exceed marketed and permit figures

Independent analysis of Delaware installations found real-world CO2 emissions ~18% above permit-stated values and NOx ~76% above permit limits, directly contradicting Bloom's marketed performance claims.source ↗

mediumCalifornia SGIP subsidy concentration and opacity criticism

Bloom received more state alternative-energy rebate funding than any other company under California's Self-Generation Incentive Program despite operating primarily on natural gas, drawing criticism of policy capture.source ↗

mediumNBC Bay Area investigative report: emission underperformance

A 2014 NBC Bay Area investigation found Bloom's Delaware installations achieved their marketed 773 lbs CO2/MWh emission rate in only 3 of 24 months, with an average of 823 lbs — raising systemic accuracy questions.source ↗

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