[new_royalslider id=”11″]Bloom Energy has launched a new leasing program with Bank of America Merrill Lynch.
The leases will allow business customers to finance Bloom Energy projects without major upfront costs.
Bloom operates a nearly completed manufacturing site on the STAR campus of the University of Delaware campus.
The program streamlines customer deployment of Bloom Energy Servers and eliminates the need for an upfront capital investment, the company noted in a release. Solar companies have been offering similar programs.
BofA Merrill has made a multi-million dollar commitment to the program’s two initial projects — the TaylorMade-adidas Golf Company manufacturing site in Carlsbad, Calif. and Honda Center in Anaheim, Calif., home to the National Hockey League’s Anaheim Ducks.
“Bank of America Merrill Lynch has been a leader in providing capital and investment solutions for clean energy deployment,” said Bill Kurtz, chief financial & commercial officer of Bloom Energy. “This program demonstrates the value in Bloom’s technology for customers and organizations looking for ways to invest and support the transition to a clean energy future.”
The multi-million dollar commitment is part of the Bank of America’s $50 billion environmental business initiative, which delivers lending, equipment finance, capital markets and advisory activities, and carbon markets finance to clients around the world to help address global climate change and demands on natural resources.
“Our company has a long history of supporting innovation in energy and developing financing mechanisms to make clean energy more accessible,” said Paul Omohundro, head of Global Vendor Finance for BofA Merrill. “This program extends the impact of the bank’s commitment to focusing on environmental issues and empowers other organizations to deploy clean energy on a large scale.”
