Bloom Energy Seeks $100M Boost

By Silicon Valley / San Jose Business Journal

Bloom Energy Corp. is reportedly seeking another $100 million in investment to help it increase manufacturing of its fuel-cell-based power generators.

Dow Jones Venturewire cites an unnamed source in a report that said that the funding isn't crucial to the Sunnyvale companyand would come at a valuation of between $1 billion and $2 billion.

Bloom has been backed with more than $400 million so far from Kleiner Perkins Caufield & Byers, New Enterprise Associates, Morgan Stanley and others.

As of March, it had made 30 of its power generators, installed at Google Inc. eBay Inc., Walmart stores and others.

The Venturewire report said that the company's backlog of orders is growing quite large and the new funding would help it meet demand.

Copyright 2010 American City Business Journals

http://sanjose.bizjournals.com/sanjose/stories/2010/07/12/daily9.html?ana=thestreet

Copyright bizjournals.com 2010

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