Mar 20, 2018 - Economy & Business

Bloom Energy preps long-awaited IPO

Bloom Energy, a Sunnyvale, Calif.-based fuel cell company that provides on-site power generation to large facilities, reportedly has restarted its IPO process and could list in the second quarter.

Why it's a big deal: Because Bloom is a survivor, albeit one with nearly $1 billion in venture funding and some unexpected help from the Trump administration. Most other capital-intensive "cleantech" startups from the early aughts failed, leading VCs to largely abandon the sector (including some of Bloom's own backers, like Kleiner Perkins).

Bonus: I'll be very interested to see Bloom's financials. After I reported them back in 2012, based on a leaked document, the company stopped providing regular reports to most of its investors.

More from The Wall Street Journal: "The company put its IPO plans on hold after a federal subsidy for alternative energy systems was allowed to expire. [Bloom]... received welcome news in February, when President Trump signed a budget deal that restored the tax credit. It can now sell its units for about 40% more per unit than it could last year, as tax credits offset part of the price."

Go deeper