SUNNYVALE, Calif.--(BUSINESS WIRE)--
SK Group and Bloom
Energy Corporation (NYSE: BE) today announced a strategic agreement
by which SK
Engineering and Construction (SK E&C) will become a distributor of
Bloom Energy Server solid oxide fuel cell systems in South Korea.
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Bloom Energy Board of Directors with Bloom Energy Founder, CEO and Chairman KR Sridhar and Jaehyun Ahn, CEO of SK E&C. Back Row L-R: Bloom Energy Board Members Eddy Zervigon, John Chambers, John Doerr, Scott Sandell, General Colin Powell, Senator Kelly A. Ayotte. Front L-R: Jaehyun Ahn, CEO, SK E&C, KR Sridhar, Founder, CEO and Chairman, Bloom Energy (Photo: Business Wire)
South Korea is a world leader in the deployment of fuel cells for
utility-scale electric power generation with approximately 300 megawatts
deployed. The country’s Ministry of Trade, Industry and Energy (MOTIE)
8th Electricity Supply Demand Plan has called for a further expansion of
these deployments to approximately 600MW by 2022.
The partnership between Bloom Energy and SK E&C brings together the
global leader in stationary fuel cells with South Korea’s leading
engineering and construction company, supported by the broad resources
and capabilities of the SK Group, one of the largest conglomerates in
South Korea.
Bloom Energy’s fuel cell technology delivers clean, highly reliable,
resilient, ‘Always-On’ electric power with low CO2 emissions and
virtually no criteria air pollutants.
The elimination of criteria air pollutants (‘micro-dust’) that cause
smog and respiratory diseases is a significant priority for South Korea.
According to the Organization
for Economic Cooperation and Development the country has the worst
air quality among the 35 developed economies. South Korea’s dependence
on coal power contributes to its air quality challenges. Coal power
accounted for 45.3% of the country’s power consumption in 2017 according
to MOTIE.
Bloom Energy Servers feature the highest delivered electrical efficiency
of any commercial electric power generation system, leading to lower
fuel consumption per kilowatt-hour of electricity generated. Fuel
efficiency is also important in Korea, given the country has no domestic
natural gas resources and high natural gas prices. South Korea is the
world’s third largest liquid natural gas (LNG) importer.
This strategic partnership between Bloom Energy and SK E&C formalizes a
close working relationship that has been in effect since 2017 when the
two companies came together to bid successfully for South Korea’s first
solid oxide fuel cell installation.
The 8.35 MW Bloom Energy Server solution for a Korean utility south of
Seoul is complete and will begin commercial operations later in 2018.
The project utilizes a highly innovative ‘Power Tower’ design, and is
believed to be the world’s most energy-dense power plant, generating one
megawatt for every 787 square feet.
“The global power generation market is moving drastically from
centralized generation to decentralized generation and towards
environmentally friendly technologies. Accordingly, SK E&C is developing
the fuel cell business with a long term vision to transform from an EPC
contractor of large power plants into a distributed energy resource
utility,” said SK Engineering and Construction, President and CEO
Jaehyun Ahn. “I have no doubt that we will achieve success in the
quickly growing Korean market, and truly hope that such cooperation will
continue in the global market, including the Asia Pacific region.”
“The leadership of SK Group shares our passionate belief that bringing
clean and reliable electric power to people of South Korea can be good
for business as well as for the environment,” said Bloom Energy
Founder, Chairman and CEO KR Sridhar. “SK Group’s vision, leadership
and technical capabilities combined with Bloom Energy’s world-leading
technology will make for a powerful partnership.”
“Together, Bloom Energy and SK form a powerful team, bringing the best
of Korean and American Innovation together to deliver a powerful new
approach to meeting the energy needs of Korea, and one that will benefit
its environment, economy and society for generations to come,” said Bloom
Energy Board Member General Colin Powell.
About SK E&C
SK E&C has been pursuing sustainable growth and stability, along with
its consistent efforts to achieve the happiness of humanity and a better
world, and gained a good reputation for its excellent technologies and
construction capability in the various industries, such as power plants,
civil infrastructure, architecture, and housing. With its globally known
capabilities and experiences, SK E&C has been expanding a new business
model throughout the world, and the fuel cell business is an essential
part of its strategy. For more information, visit http://www.skec.com/asp/en/
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable, and affordable energy
for everyone in the world. The Company’s product, the Bloom Energy
Server, is capable of delivering highly reliable, uninterrupted, 24x7
constant electric power that is clean and sustainable. Bloom’s customers
include twenty-five of the Fortune 100 companies and leaders in
manufacturing, high-tech, healthcare, retail and other industries. For
more information, visit www.bloomenergy.com.
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Media Relations Contact:
David McCulloch
Bloom Energy
T:
925.487.2866
David.McCulloch@bloomenergy.com
Investor Relations Contact:
Mark Mesler
Bloom Energy
+1
(408) 543-1743
Mark.Mesler@bloomenergy.com
Source: Bloom Energy Corporation