New project with the Indian Ministry of Power will showcase Bloom�s hydrogen and power production technologies

SAN JOSE, Calif. & NEW DELHI--(BUSINESS WIRE)--$BE #hydrogen--Bloom Energy today announced that NTPC Limited, India�s largest energy conglomerate under the jurisdiction of the Ministry of Power, has selected Bloom�s electrolyzer and hydrogen-powered fuel cell technologies for the country�s first green hydrogen-based energy storage deployment. As part of India�s pledge to reach carbon neutrality by 2070, the project is designed to explore large-scale, off-grid hydrogen energy storage and microgrid projects at strategic locations throughout the country.

Bloom Energy (India) Private Limited, a wholly owned subsidiary of Bloom Energy, was selected for its holistic, comprehensive and efficient technology ecosystem spanning green hydrogen production and carbon-free power. The initial collaboration between NTPC and Bloom Energy India is expected to serve as a foundation for expanded future cooperation.

The collaboration will utilize Bloom Energy�s solid oxide, high temperature electrolyzer to generate green hydrogen from renewable electricity produced by a nearby floating solar farm. The hydrogen will then be converted into carbon neutral electricity without combustion through Bloom Energy�s hydrogen fuel cells to power NTPC�s Guest House, a local accommodation intended for use by NTPC employees and guests. The project is expected to commence in 2022 in Simhadri, Visakhapatnam, India.

The solar farm coupled with Bloom Energy�s electrolyzer and hydrogen fuel cells is intended to operate around the clock. At scale, the combination could enable long duration clean energy storage and resilient power for businesses, residential neighborhoods, dense urban areas, and remote and island communities.

India is pursuing aggressive plans to move towards renewable energy and storage capacity while ensuring grid stabilization for its citizens. Hydrogen is a natural complement to renewable sources of energy, leveraging excess peak power created during the day for conversion into hydrogen to provide pollution-free, reliable power that provides long-duration storage.

�Reducing carbon emissions is the number one priority in the fight against climate change, and green hydrogen will be critical to India�s decarbonization objectives,� said Venkat Venkataraman, executive vice president and chief technology officer, Bloom Energy. �Bloom�s technology is well-positioned to help India transition to a net-zero, hydrogen-powered economy, and we are excited to collaborate with NTPC to bring the country�s first green hydrogen microgrid to life. The powerful combination of Bloom�s high-efficiency electrolyzers and fuel cells enables the highest possible round trip efficiency with green hydrogen for energy storage.�

Bloom Energy�s high-temperature electrolyzer produces hydrogen more efficiently than low-temperature PEM and alkaline electrolyzers. Because it operates at high temperatures, the Bloom Electrolyzer requires less energy to break up water molecules and produce hydrogen. Electricity accounts for nearly 80 percent of the cost of hydrogen from electrolysis. By using less electricity, hydrogen production becomes more economical and will accelerate adoption.

Bloom Energy Servers � solid oxide fuel cells that combine ambient air with a fuel source, such as natural gas, biogas, hydrogen, or a blend of fuels � produce electricity through a non-combustion electrochemical reaction, resulting in reduced carbon emissions, harmful air pollutants, and water use compared to grid alternatives. When hydrogen is used as a fuel source, Bloom Energy Servers emit zero carbon.

Bloom Energy is engaged with industry leaders to accelerate the global hydrogen economy, including projects related to producing low-cost, green hydrogen and utilizing nuclear energy to create clean hydrogen. To see how Bloom Energy is powering the future, visit: bloomenergy.com/technology/powering-the-future/

About Bloom Energy

Bloom Energy�s mission is to make clean, reliable energy affordable for everyone in the world. Bloom�s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom�s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as �anticipates,� �could,� �expects,� �intends,� �plans,� �projects,� �believes,� �seeks,� �estimates,� �can,� �may,� �will,� �would� and similar expressions identify such forward-looking statements. These statements include, but are not limited to, timing of the initial deployment of Bloom�s electrolyzer and hydrogen-powered fuel cell technologies for NTPC in India; expectations of the parties entering into an agreement for future cooperation between NTPC and Bloom Energy; expectations regarding hydrogen technology; expectations regarding Bloom�s high-efficiency electrolyzers; and expectations regarding the acceleration of the global hydrogen economy. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including timing of market adoption of Bloom Energy Servers and electrolyzers in India, successful trials of Bloom Energy technology, adoption of a definitive agreement between the parties; and those included in the risk factors section of Bloom Energy�s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and other risks detailed in Bloom Energy�s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.

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