What Bloom Energy's growth means for Del. manufacturing (Karl Baker)

“Bloom Energy’s future hinges, in part. on the fuel cell appetites of South Korea and Japan, and on the investment whims of Canadian pensioners.” For the first quarter of 2019, half of Bloom’s fuel cell deliveries are headed for S. Korea. Later in the year, investors have been told, shipments to Japan will ramp up.

DE Bloom employees and “others in the state have been waiting restlessly for hopeful financial news from Bloom” that could “translate into a hiring boom at its Newark factory.” But in 2018, nearly doubled sales revenue ($742M) didn’t prevent continued losses ($241M). And the share price is down from a peak of $38 to just slightly over $10. Bloom continues to be the target of “several high-profile critiques in recent years over its workforce, hazardous waste, and incentive package.”
No details provided.

But some of Bloom’s current employees “have pushed back against the doubters,” e.g., by testifying at a public hearing on January 10 that their Bloom jobs “have allowed them to achieve middle-class livelihoods.”

As for Canadian pensioners, a fund that holds Bloom debt is considering a swap into Bloom stock, which would make the fund Bloom’s largest single shareholder. (
Which class of stock?)
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