Press release
Xcel Energy and Bloom Energy to Produce Zero-Carbon Hydrogen at Nuclear Facility
The collaboration seeks to demonstrate long-term value for hydrogen production within the nuclear industry SAN JOSE, Calif. & MINNEAPOLIS--(BUSINESS WIRE)--
About this update from Xcel Energy Inc.
[{"type":"text","content":"\nThe collaboration seeks to demonstrate long-term value for hydrogen production within the nuclear industry\n\n SAN JOSE, Calif. & MINNEAPOLIS--(BUSINESS WIRE)--\nBloom Energy (NYSE: BE) announced plans to install an electrolyzer at the Xcel Energy (NASDAQ:XEL) Prairie Island Nuclear Generating Plant in Welch, Minnesota. The installation is designed to augment existing clean energy nuclear infrastructure to create immediate and scalable pathways to produce cost-efficient, clean hydrogen, supporting the growing hydrogen economy while enhancing value for operators of zero-carbon nuclear facilities.\n\nBloom Energy’s electrolyzer – built on its solid oxide platform – operates at high temperatures to convert water into hydrogen. Pairing solid oxide electrolysis with nuclear energy’s technology is a preferred method of unlocking unmatched efficiencies. The high heat and steam produced by Xcel Energy’s Prairie Island facility feeds into Bloom Energy’s electrolyzer to produce zero-carbon hydrogen more efficiently than low-temperature electrolysis alternatives like polymer electrolyte membrane (PEM) or alkaline. These low-temperature alternatives require roughly 40% more electricity, providing the Bloom electrolyzer an efficiency advantage that is expected to significantly drive down the cost of hydrogen production.\n\n“Xcel Energy’s nuclear power plants already play a vital role in our energy mix, delivering clean, reliable and affordable power for our customers while avoiding hundreds of millions of tons of emissions,” said Peter Gardner, Senior Vice President and Chief Nuclear Officer at Xcel Energy, a clean energy provider that serves eight Western and Midwestern states. “This project will provide a tremendous opportunity to better understand how our existing nuclear plants can contribute to the development of hydrogen technologies and build a carbon free future.”\n\nThe Prairie Island facility – one of Xcel Energy’s two nuclear power plants that produce nearly 30% of the electricity provided to its customers in the Upper Midwest – faces extreme winter weather annually, leading Xcel Energy to specifically turn to Bloom Energy for its resiliency benefits. Operating reliably and efficiently, we believe the installation will demonstrate how electrolyzers can leverage the energy output from nuclear to support hydrogen production even d...