Green energy start-ups often promise revolutionary technology in going after the Holy Grail of clean, cheap, efficient, and abundant energy only to disappoint in the end. What makes Bloom Energy and the claims that they make any different? Well, perhaps nothing. But perhaps they will back up their talk when a mysterious countdown on their homepage is explained on Wednesday. Featured recently on 60 Minutes, the company is the product of a foray into business by former NASA engineer KR Sridhar. The origin of the technology goes back to a project to produce oxygen for astronauts on Mars. Once that program was scrapped by NASA, Sridhar reversed his design to make a fuel cell that uses oxygen and fuel to produce electricity. Beach sand that has been made into ceramic tiles and coated with a proprietary paint makes up the stacks in the actual cell. There is no need for combustion. Eventually, the company thinks it can replace the electric grid with a proliferation of these smaller fuel cell “power stations” called Bloom Boxes. Two of these fuel cells that are about the size of a brick can apparently power a typical U.S. home. Once coupled with the larger unit that takes in the fuel source, they look to be about the size of a refrigerator and can fit easily outside a home or business.
The Bloom Boxes currently cost $700,000-$800,000, but the company thinks that in 5-10 years it can get the cost below $3,000 per unit. Obviously, skepticism abounds. Other start-up clean energy companies that made incredible claims didn’t necessarily have the product to display. The 60 Minutes clip, however, shows working Bloom Box units being used by companies such as FedEx, eBay, Google etc. eBay is quoted that their five boxes have saved them over $100,000 in electricity costs in the past nine months. There is star power behind the investment, too. Not only did Kleiner Perkins Caufield & Byers make Bloom Energy their first green energy investment years ago, but former Secretary of State Colin Powell is on its board of directors. The company has raised more than $400 million in venture capital so far.
Take a look at the video to decide if the company has a chance to revolutionize the world or not. We’ll let you know what Bloom Energy unveils on Wednesday.
- Justin Manger
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