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Bloom Energy (NYSE:BE) surged to a nine-month high in Friday's trading, +5.3%, following an Axios report that the company is gearing up its hydrogen electrolyzer business.
Bloom Energy (BE) CFO Greg Cameron told Axios it is working on an initial 10 MW contract with an ammonia maker in Oklahoma that uses the company's electrolyzer.
Bloom (BE) is not pursuing pilot programs for its electrolyzer and is not considering signing letters of intent, Cameron said, as the company seeks larger scale installations that can provide proof of concept.
Cameron also said he sees early signs that the supply chain crunch is easing for semiconductors and logistics, but he was not ready to read too much into just a few weeks' worth of data.
Bloom Energy (BE) shares have gained 24% in three days since the company issued its Q2 earnings report.