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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."

Axios 1 hour ago
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Jonathan Swan 1 hour ago
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Emmanuel Macron’s master class in soothing Trump

Illustration: Lazaro Gamio/Axios

As French President Emmanuel Macron today begins his State Visit with President Trump, a source who has watched the two men in action says that Macron, a former investment banker, treats Trump like a "prized client" — with a combination of flattery, attentiveness and wariness. Macron "has run a master-class on the care and feeding of POTUS," the source says.

The big picture: Trump this week is Continental Man, hosting a private dinner with Macron at Mount Vernon tonight; a press conference with the French leader tomorrow, followed by the first State Dinner of the 15-month-old administration; and then on Friday, a White House meeting with German Chancellor Angela Merkel.