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Bloom Energy and Chart Industries Announce Groundbreaking Carbon Capture Partnership

1. Bloom Energy partners with Chart Industries for carbon capture technology. 2. The partnership will create near zero-carbon, reliable power for industries. 3. Chart will process Bloom's CO2 for utilization and sequestration. 4. Morgan Stanley forecasts 500 million tonnes of carbon storage capacity by 2028. 5. The initiative targets efficient carbon capture with high-purity CO2 from Bloom's technology.

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FAQ

Why Bullish?

This partnership enhances Bloom's market position in sustainable energy. Historical growth in clean tech boosts investor sentiment.

How important is it?

This partnership is crucial for Bloom's growth strategy in energy transition. It significantly aligns with market trends towards sustainability.

Why Long Term?

The carbon capture market is expected to expand, creating steady demand for Bloom's solutions. Past similar initiatives saw sustained price increases over time.

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SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy (NYSE: BE), a global leader in fuel cell electricity generation, and Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in energy and industrial gas solutions, announced today a carbon capture partnership that will use natural gas and fuel cells to generate near zero-carbon, always-on power. In announcing this partnership, the companies aim to offer a solution to customers, like data centers and manufacturers, who are seeking power solutions that can be deployed rapidly without compromising reliability or emission goals. As part of the partnership, Chart will use its carbon capture know how to process Bloom’s high-purity carbon dioxide (CO2) exhaust stream into outputs that are ready for utilization or sequestration. The CO2 utilization market serves as an important near-term term bridge to carbon sequestration in locations, where sequestration infrastructure is not available or permitted. According to Morgan Stanley, more than 500 million tonnes per annum (MTPA) of carbon storage capacity is expected to come online within the next five years. As sequestration capabilities grow in the U.S. and globally, CO2 utilization provides an immediate pathway to repurpose captured carbon while supporting long-term decarbonization efforts. Efficient carbon capture depends on the purity of CO₂ in the exhaust stream, which varies widely across power generation technologies. Conventional technologies that generate electricity from natural gas through combustion—such as gas turbines and reciprocating engines—produce exhaust streams with approximately 5% CO₂. Capturing such low-concentration emissions remains technically complex and costly. In contrast, Bloom’s proprietary high-temperature fuel cell technology converts natural gas without combustion, yielding a CO₂-rich stream that has 15 times lower mass flow and ten times the CO2 concentration, making the capture process more efficient and less costly. “Our partnership with Chart aims to demonstrate that cost-effective, onsite baseload power from natural gas with carbon capture is feasible at scale,” said KR Sridhar, Founder, Chairman, and CEO at Bloom Energy. “Bloom fuel cells generate electricity without combustion, producing a concentrated CO₂ stream that lowers extraction costs, making carbon capture more affordable and efficient. For energy-intensive industries like data centers and large manufacturers, this will provide a path to reliable, scalable power while significantly reducing carbon emissions. I am excited about the opportunities this partnership can unlock and the positive impact for our planet.” “Chart is a global leader in carbon capture,” said Chart Industries CEO Jill Evanko. “We are excited to bring this expertise to Bloom and their unique platform which is capable of not just producing reliable power but also a concentrated CO2 stream. Working with a market leader in solid oxide fuel cells, we see exciting opportunities for our partnership in both sequestration and utilization markets. We are already working on projects where the captured CO2 will be utilized in the food and beverage industry.” Please visit https://www.bloomenergy.com/carbon-capture/ to learn more about the company’s commitment to carbon capture, utilization, and storage (CCUS). About Bloom Energy Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.BloomEnergy.com. About Chart Industries Chart Industries, Inc. is a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean™ - clean power, clean water, clean food, and clean industrials, regardless of molecule. The company’s unique product and solution portfolio across stationary and rotating equipment is used in every phase of the liquid gas supply chain, including engineering, service and repair and from installation to preventive maintenance and digital monitoring. Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas, and CO2 capture amongst other applications. Chart is committed to excellence in environmental, social, and corporate governance (ESG) issues both for its company as well as its customers. With 64 global manufacturing locations and over 50 service centers from the United States to Asia, Australia, India, Europe, and South America, the company maintains accountability and transparency to its team members, suppliers, customers, and communities. To learn more, visit www.chartindustries.com. Forward Looking Statements This press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or the negative of these words or similar terms or expressions that concern Bloom’s expectations, strategy, priorities, plans, or intentions. These forward-looking statements include, but are not limited to, the prospects for cost effective decarbonization using carbon capture technology, and expectations for the CO2 utilization and storage markets. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors including, but not limited to, risks and uncertainties detailed in Bloom’s SEC filings. More information on potential risks and uncertainties that may impact Bloom’s business are set forth in Bloom’s periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Reports on From 10-Q for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024 filed with the SEC on February 15, 2024, May 9, 2024, August 8, 2024, and November 7, 2024 respectively, as well as subsequent reports filed with or furnished to the SEC. Bloom assumes no obligation to, and does not intend to, update any such forward-looking statements.

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