Bloom Energy Corporation · NYSE:BE
Bloom Energy — Investor Day (2023)
70 slides from Bloom Energy's investor day presentation, 2023
Slide 1: Bloom 2.Zero Investor Conference
Bloomenergy’ Bloom 2.Zerxo Investor Conference
Slide 2: Forward-looking Statements and Non-GAAP Financial Measures
Forward-looking Statements and Non-GAAP Financial Measures This presentation 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 futur
Slide 3: KR Sridhar, Founder and Chairman, CEO
KR Sridhar Founder and Chairman, CEO
Slide 4: The Power of AND
The Power of Bloom 2.Zero
Slide 5: The Power of Bloom 2.Zero
The Power of Bloom 2.Zero
Slide 6: Reliable, Resilient
Reliable Resilient Bloom 2.Zero
Slide 7: Sustainable, Secure
Sustainable Secure Bloom 2.Zero
Slide 8: Accessible & Affordable
Accessible & Affordable b e Bloom 2.Zero
Slide 9: Right Now
Right Now Right Now Bloom 2.Zero
Slide 10: Bloom 2.Zero
Bloom 2.Zero
Slide 11: Product Lines
Product Lines Bloom 2.Zero
Slide 12: Solid Oxide Platform: Electricity and Hydrogen
Solid Oxide Electricity Hydrogen Electricity Fuel Electricity Fuel Electricty Hydrogen The Power of ™
Slide 13: Better Electricity, Bottled Energy
+™ etter lectricity ™ e- Electricity +™ ottled nergy ™ H2 Hydrogen
Slide 14: Change, Concern
Change in technology Concern
Slide 15: Zero Delays, Zero Outages, Zero Risk
Delays Zero Outages Risk
Slide 16: Growth & Profitability
Growth & Profitability Bloom 2.Zero
Slide 17: Zero Excuses
Zero excuses
Slide 18: Bloom 2.Zero
Bloom 2.Zero
Slide 19: It's Our Time
Bloomener gy Bloom 2.Zero out FAM bal
Slide 20: Bloom Energy
Bloomenergy’ Bloom 2.Zero
Slide 21: Performance & Guidance
Performance & Guidance Greg Cameron President, Chief Financial Officer
Slide 22: Forecasted Growth Rate on Track
Forecasted Growth Rate on Track $15-20B Marine 30-35% CAGR Decarbonizing Technologies $4-5B $1.4-1.5B Fuel Flexible $1.2B Power Gen $1B 2021A 2022A 2023E 2026E 2031E
Slide 23: $2 Trillion 2030 Global TAM
$2 Trillion 2030 Global TAM $22bn Marine $370bn Sustainability Electrolyzer CCUS >$2.3tn Total Addressable Market $2,000bn Power Generation U.S. C&I International C&I Waste to Energy
Slide 24: Long Term Growth Model
Long Term Growth Model 30% - 35% Revenue Growth (through 2031) Leverage Core Platform Across Applications and Geographies CAGR Non-GAAP Gross Margin1 (by 2025) 30% Increasing Volumes, Lower Costs, Pricing Power Non-GAAP Operating Margin1 (by 2025) 15% Platform Technology Enables Asymmetric Investmen
Slide 25: Reaffirming 2023 Financial Outlook
Reaffirming 2023 Financial Outlook 2023 Metric Outlook ✓ Total Revenue $1.4-1.5B • On-track for record revenues ✓ Product & Service Revenue $1.25-1.35B • Margins expanding on lower product costs ✓ Non-GAAP Gross Margin1 ~25% • Expect positive cash flow from operating activities (CFOA) ✓ Non-GAAP Ope
Slide 26: Unrestricted Cash Balances Growing
Unrestricted Cash Balances Growing ($95) ~$900 $315 ($200) CAPEX Debt CFOA $560 Repayment (2Q-4Q) $320 Convert Proceeds 4Q23 1Q23 Proforma
Slide 27: Product Cost Reductions
Product Cost Reductions COVID ↓ 10-15% ↓ 10-15% $3,865 $2,528 $2,653 2017 2018 2019 2020 2021 2022 2023 2024 2025
Slide 28: Delivering Operating Expense Leverage
Delivering Operating Expense Leverage (% Revenue) 26% 23% 15% 2021 2023 2025
Slide 29: Services Overview
Services Overview ~$7 Billion ~$150 million ~30% Backlog 2022 Revenue Revenue CAGR ~700 MW 15 years ~20% Under service Average contract Target contract length margin
Slide 30: One Billion Data Points Daily
One Billion Data Points Daily Data Data Data Data Points Points Points Points Data Warehouse 0010 0010 Digital Twin Analytics
Slide 31: Partnership Since 2018
Partnership Since 2018 ▪ Over $1.2B in Korean Market ▪ Over $400M in the USA EPC and Financing ▪ Hydrogen Innovation Center and pilot deployment in Korea ▪ International Expansion Opportunities Joint Venture in Gumi
Slide 32: Inflation Reduction Act Tailwinds
Inflation Reduction Act Tailwinds $370B bill includes significant investments in climate spending that benefit Bloom Key Provisions Opportunities for Bloom Energy Investment Tax Credit Increase Drives demand for on-site power & Extension Bloom Broader microgrid adoption Energy Server Carbon capture
Slide 33: Agenda
Agenda • Power Generation Business • International Business Sharelynn Moore • Energizing Transportation Tim Schweikert • Introducing Ravi Prasher, CTO • Hydrogen Business • Execution Roundtable Ravi Prasher • Q&A Rick Beuttel
Slide 34: Bloom Energy: Leading Energy Platform
Bloom Energy: Leading Energy Platform Mature, Leveraging Cash Proven Across Markets Generative Technology and Applications
Slide 35: Bloom 2.Zero
Bloom 2.Zero
Slide 36: Power Generation
Power Generation Sharelynn Moore Executive Vice President Chief Business Development & Marketing Officer
Slide 37: Business Highlights
Business Highlights Data Center Korea Strength Waste to Growth & SK Partnership Energy Wins
Slide 38: The Energy Transition Is Not Working
The Energy Transition Is Not Working Increasing Increasing Decreasing Costs Emissions Reliability Bloom’s solutions are needed now more than ever Year over year, the US power sector There were 18 average 2022 NY state reduced CO2 separate billion-dollar commercial price of emissions just 1.4%; clima
Slide 39: Zero Excuses
Zero Excuses Bloom is cheaper, more resilient, and more sustainable than the grid Time to Power Resiliency Sustainability Predictability
Slide 40: Zero Outages
Zero Outages Resiliency Outages 131 94 Saved Outage $30k - $100k $50k - $500k Cost per event per event Resiliency 1.5c / kWh 2c / kWh Value Source: Outage data collected since 2019
Slide 41: Zero Risk
Zero Risk Predictability Total Cost of Power $/kWh Cost of Carbon Cost of delays, downtime and backup assets Escalation and Volatility Grid cost Bloom cost increasing decreasing Utility Bill (COE) Total Bloom (COE)
Slide 42: Zero Carbon
Zero Carbon Sustainability Highly Efficient Zero Water Electrochemical During normal process reduces CO2 operation emissions vs. grid alternatives Fuel Flexible Clean Natural gas, biogas, No combustion, or hydrogen as fuel NOX or SOX
Slide 43: Zero Delay
Zero Delay Time to Power Utilities can’t Dominion Energy admits it can’t meet data keep up with demand center power demands in Virginia July 29, 2022 By: Peter Judge Customer’s being asked A summer of blackouts? Wheezing power to wait years for power grid leaves states at risk. June 2, 2022 By: Evan
Slide 44: Resilient, Predictable, Sustainable Power, when and where you need it
Resilient, Predictable, Sustainable Power, when and where you need it
Slide 45: Dean Nelson
Dean Nelson Chairman and Founder of Infrastructure Masons and CEO of Cato Digital
Slide 46: Slide 46
Slide 47: Bloom 2.Zero
Bloom 2.Zero
Slide 48: International Business
International Business Tim Schweikert Sr Managing Director International Business Development
Slide 49: Zero Borders: Europe
Zero Borders Europe
Slide 50: Zero Borders: Asia
Zero Borders Asia
Slide 51: Energizing Transportation
Energizing Transportation
Slide 52: 2022 FIFA World Cup Qatar
= = = 2022 FIFA World Cup Qatar
Slide 53: Bloom 2.Zero
Bloom 2.Zero
Slide 54: Chief Technology Officer
Chief Technology Officer Ravi Prasher, PhD Chief Technology Officer
Slide 55: Hydrogen Business
Hydrogen Business Rick Beuttel VP, Business Development
Slide 56: Target Markets
Target Markets Exothermic customer processes requiring H2 (ammonia, methanol, sustainable aviation fuel, renewable diesel) “Hot” Industrial Processes requiring decarbonization (ferrous and non-ferrous metals, glass, cement, etc.) Partnering with the nuclear industry (Significant waste heat and steam
Slide 57: Bloom Solid Oxide Electrolyzer
Bloom Solid Oxide Electrolyzer • 4MW deployment providing reference data, attracting global attention, confirming efficiency and scalability • Lowest LCOH with world record efficiency • Bloom business model is attractive for customers
Slide 58: Commercialization on track
Commercialization on track!!! Product Small Scale 10MW Projects Large Projects Developed/Launched Demonstrations Completed 2024 and beyond 2020 2021-2023 H1 2024
Slide 59: Slide 59
Slide 60: Slide 60
Slide 61: Gene Gebolys, President, CEO World Energy
Gene Gebolys President, CEO World Energy
Slide 62: World Energy
‘world energy G
Slide 63: Bloom 2.Zero
Bloom 2.Zero
Slide 64: Execution Roundtable
Execution Roundtable Jose Hernandez Satish Chitoori Carl Cottuli Cornelia Pool SVP Manufacturing SVP Global Procurement SVP Global Engineering Chief Information Officer & Supply Chain
Slide 65: Slide 65
Slide 66: Slide 66
Slide 67: Bloom 2.Zero
Bloom 2.Zero
Slide 68: Q&A
Q&A
Slide 69: Q&A
Q&A
Slide 70: Bloom 2.Zero
Bloom 2.Zero