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Bloom Energy shares rise 30% after the game of hydrogen fuel cells



Bloom Energy Corp. BE,
+ 34.60%
Shares rose nearly 30% on Wednesday after the alternative energy company announced it would enter the commercial hydrogen fuel market. Bloom said it produces hydrogen-powered fuel cells and electrolysers that produce renewable hydrogen. The first cells are to be sold in South Korea next year through a partnership with a subsidiary of the Korean conglomerate SK Group. “This expansion of our product offering enables CO2-free power and transportation solutions,”

; said Bloom’s founder and CEO, KR Sridhar, in a statement. “Innovation and execution are fundamental principles of our business and we look forward to the opportunity to advance the hydrogen economy with our longstanding partner SK E & C.” Bloom Energy manufactures solid oxide fuel cells that are used in stationary power generation servers at customer sites. Bloom shares rose 135% this year, while the S&P 500 SPX index lost 0.5% and 6%, respectively.
+ 0.73%
and the Dow Jones Industrial Average DJIA,
+ 0.71%.


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