Bloom Energy, which plans to build a plant in Newark, has kept its finances close to its vest, despite raising nearly $900 million in private equity markets.
However, Fortune obtained a copy of a financial update sent to investors and found a lot of information of interest to critics and fans of the company.
To no one’s surprise, Bloom burns through a lot of cash. At the same time, it appears to be moving toward profitability. The Newark plant could help that process by cutting costs of production. Bloom’s fuel cells are now being built in the Silicon Valley of California, an expensive place to do business.
A Delaware resident that has the backing of the Caesar Rodney Institute and a Bloom Rival are in court today in an attempt to halt a key element of the Bloom plan, the operation of a large number of Bloom fuel cells that will generate electricity for Delmarva Power.
The higher costs of the energ, adds a few dollars a month to Delmarva Power customers.
Click on the link below for the blog entry from Fortune
Exclusive: Bloom Energys earnings – The Term Sheet: Fortunes deals blog Term Sheet.
