Bloom Energy 2023 Investor Conference | Full Show
Bloom had investor day recently. Very interesting data points
- Expecting 25-30% cagr from fuel tech alone
- Working on soXc boxes/platform (electricity OR fuel in, hydrogen OR electricity out)
- Significant portion of 2031 revenue from CCS (carbon capture & sequesting tech. I need to study to see how solid oxide cell can be used for CCS)
- 10-12% cost down every year + 12% cagr for opex vs 30% for revenue will drive operating leverage
- One of client was talking about how utility grid power costs were 2 million a year, and it’s half (1 mill) after installing bloom servers (don’t know whether he includes the box cost in it). Bloom ceo talked about an interesting point on how the distribution & transmission costs are going up specially as more renewable gets added to grid. Vs that, bloom costs are going down and that creates an economic incentive to switch
- Guide for 30% non gaap gross margin, 15% operating margin by 2025
Overall was quite interesting since it also laid out their vision for SoXC boxes which can be very future proof. Their ability to make hydrogen most efficiently can also be a differentiator & with large US corporate adopting their tech so aggresively, can be a good growth visibility driver for mtar. To me personally key question remains around the sustainability of margins (is 29% sustainable? We will find out soon).
Disclaimer: invested, biased
| Subscribe To Our Free Newsletter |
