Sridhar takes Bloom Energy public
Wall Street seemingly could not get enough of Bloom Energy Corp., with shares rising more than 60% after an initial public offering that chief executive and founder K.R. Sridhar (PhDME ’90) credited to his company’s ability to explain its purpose.
Investors “understood very clearly what the size of the market is, they understood what the opportunity is,” Sridhar said.
Bloom Energy makes solid oxide fuel cells that are used in stationary power-generation servers as small as half the size of a typical shipping container. The servers, placed at client locations, convert natural gas or biogas into electricity through electrochemical reactions that result in lower emissions than traditional energy generation. (MarketWatch)