Bloom Energy Partners With SK ecoplant For Hydrogen Energy Project In South Korea
Portfolio Pulse from Shivani Kumaresan
Bloom Energy Corp (NYSE:BE) and SK ecoplant have announced the sale of Bloom's electrolyzer technology to be used in a green hydrogen project in South Korea. The project, in collaboration with KOSPO and local government, will start in late 2025 and involves 1.8 MW of Bloom's SOEC technology for hydrogen production on Jeju Island. This initiative supports Jeju Island's goal to become a 'Carbon Free Island 2030'. Bloom Energy and SK ecoplant have been partners since 2018 and have deployed 400 MW to date. BE's stock closed higher by 1.06% at $15.25.
December 28, 2023 | 11:51 am
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Bloom Energy's partnership with SK ecoplant for a green hydrogen project in South Korea is expected to bolster its position in the renewable energy market, particularly in hydrogen production technology.
The announcement of Bloom Energy's involvement in a large-scale green hydrogen project in South Korea is likely to be viewed positively by investors, as it demonstrates the company's continued expansion and technological deployment in the renewable energy sector. The project aligns with global trends towards clean energy and may increase investor confidence in Bloom's growth prospects. The recent positive price action in BE shares suggests that the market is already responding favorably to this news.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100