Bloom Energy completed a private offering of $1.75 billion in 0% convertible senior notes due 2030, with an option to issue an additional $250 million within 13 days. The notes are senior, unsecured, carry no interest, and mature on November 15, 2030. Holders can convert into Class A common stock under specified circumstances, and Bloom may redeem the notes after November 20, 2028 subject to price and other conditions.
Proceeds will be used to pay the cash portion of consideration in concurrent exchange transactions with holders of Bloom’s existing 3% green convertible senior notes due 2028 and 2029, and for general corporate purposes, including research and development, sales and marketing, manufacturing expansion, general and administrative expenses, and capital expenditures.
The financing supports Bloom’s strategy to double its manufacturing capacity to 2 GW by the end of 2026, a move aimed at meeting the growing demand for onsite power from AI data centers and advanced manufacturing. The company’s Q3 2025 results showed revenue of $519.05 million, a 57% year‑over‑year increase, and adjusted EPS of $0.15, underscoring the financial foundation for the capital raise.
Bloom also announced a $5 billion strategic partnership with Brookfield Asset Management to supply AI infrastructure, further driving demand for its solid‑oxide fuel cell solutions. The concurrent exchange of existing notes reflects a proactive debt‑management strategy, while the new notes provide flexible capital for continued growth.
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