Bloom Energy: “Close” to unveil its fuel cell
The crew of Kleiner Perkins graced the cover of the New York Times Sunday Magazine this weekend for Jon Gertner snapshot of how venture capital bet big on the cleantech industry. It’s a good overview of the state of the industry, and for those who have closely followed the cleantech world, there were some juicy bits of a first investment Cleantech Kleiner, a fuel a little more stealthy airframe manufacturer Bloom Energy.
The story says that, on Cleantech investments Kleiner, Bloom Energy is one of the closest to unveiling a product – the startup “will almost certainly be a commercial product ready within a year or two,” according to the story.
The five kilowatt Bloom box has supposedly become a “high-functioning machine, and the story even shows a picture of refrigerator-looking white box. In a successful trial at the University of Tennessee at Chattanooga over the past two years, engineers conducted a Bloom box on natural gas for 6000 hours and found it was twice as efficient as a boiler burning natural gas, with 60 percent carbon emissions lower. Kleiner partner Gertner Aileen Lee said that the Bloom box can produce electricity with natural gas or a variety of liquid fuels, including ethanol.
The story also notes that it took 250 million dollars of investment and six years to get Bloom to where she is today – testing products, with 200 employees and one to two years delivery of a product. After interviewing Kleiner partner John Doerr’s finances Bloom, Gertner wrote an IPO Bloom is probably still some years away. The company was unusually quiet for such a mature company, but it seems that it starts to open up a bit now that it’s getting closer to production. If Bloom was really a fuel cell commercial loan within a year, and it performs as shown in the initial test, the first major foray into Kleiner Cleantech could be his first major success. (internet)
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