Introducing Bloom Energy 1 Bloom Energy delivers a
Introducing Bloom Energy 1 § Bloom Energy delivers a clean, cost effective, and highly reliable “on-site” energy generation solution for stationary applications § Total global electricity market is >$1 trillion per year, and there are over 2 billion people in the world who currently have no access to power § Bloom Energy’s solution leverages Solid Oxide Fuel Cell technology; first pioneered for NASA § Management team combines fuel cell expertise, semiconductor process and volume manufacturing experience, and business/startup know-how. § Top tier investors include Kleiner Perkins and NEA; Board includes John Doerr, Vinod Khosla Confidential
Traditional Distributed Generation Technologies Diesel/Gas Genset Solar / Photovoltaic Proven Technology Renewable, Clean and Quiet, But… Dirty, Noisy, Inefficient Undependable, Expensive Microturbine Wind Turbine Little Bit Cleaner Renewable and Clean But… Noisy, Inefficient Undependable, Noisy, Expensive What’s Been Missing? Clean 2 AND Reliable Confidential AND Affordable
Introducing Bloom Energy Making Clean, Reliable Energy Affordable Market Adoption Threshold Legacy Generators Clean X Reliable Affordable Solar / Wind X X Win for the environment and the economy 3 Confidential
Our Vision The Color Of Money Nov 13, 2006 4 Confidential
Fuel Cells Explained § A fuel cell is an electrochemical device in which fuel is oxidized without combustion to generate electrical energy (direct energy conversion) current Carbon + Hydrogen fuel air positive ions (H+) Cx. Hy + z. O 2 n. CO 2 + m. H 2 O + e–+ Heat Oxygen (or) negative ions (O--) anode § § 5 electrolyte cathode Different Types = Different Applications Commonly Four Types Associated with Stationary Power Generation Confidential
Fuel Cell Technology Comparison Proton Exchange Membrane Phosphoric Acid Molten Carbonate Membrane Acid Liquid Ceramic Temperature Low Medium Highest Precious Metals Required Yes No No Availability 95% 95% 99+% Yes Fuel Cell Type Electrolyte Why Solid Oxide? Fuel Flexible CO 2 Emissions Electrical Efficiency No No No 1200 1000 lbs/MWh 35% 37% lbs/MWh 44% Solid Oxide • Cheaper • Cleaner • Fuel Flexible • Reliable • Reversible 750 lbs/MWh 58% National Renewable Energy Laboratory (NREL) Gas-Fired Distributed Energy Resource Technology Characterizations, 2003; BE Analysis Current Flow Why Planar? eeeeeee- • Higher fuel utilization Interconnect Anode Electrolyte (Solid Ceramic) Fuel Air Cathode Interconnect e- ee- • Higher current densities • Dramatically cheaper to manufacture Bloom Energy has overcome the key technological hurdles to planar SOFC development… 6 Confidential
Competitive Advantage: SOFC vs Solar / Wind • Solar, while clean, is only available 18% of the time on average. • Dirty, grid electricity (“brown power”) is required the other 82% of the time. • SOFC is available 24 hours a day; making it a cleaner, cheaper alternative 7 Confidential
Bloom Energy Value Propositions § § § 8 Premium quality continuous power Reduced CO 2 emissions Reduced operating costs Protection against price volatility Energy generation and storage Confidential
Interest in Bloom Energy General Colin Powell Speaker of the House Pelosi Mayor Bloomberg (NYC) and Governor Schwarzenegger (CA) Senator Lieberman (CT) Senator Bingaman (NM) Charlie Rose Show w/ John Doerr and Scott Mc. Nealy Senator Ensign (NV) Congressman Wamp (TN) Senator Brownback (KS) Senator Feinstein (CA) 9 Confidential
Why Bloom Energy? § Right Technology… • Solid oxide holds the most promise for stationary power generation • BE has solved the technical challenges to viable mass production § Right Team… • Blend of Fuel Cell, Semiconductor Volume Manufacturing, and Startup Know-how § Right Backing… • Silicon Valley’s Premier Venture Capitalists § Right Time… • Energy will be for the next decade what the Internet was for the last 10 Confidential
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