Bloom Energy and Chart Industries team up for carbon capture

SAN JOSE, Calif. - Bloom Energy (NYSE: NYSE:BE), currently valued at $5.37 billion, and Chart Industries , Inc. (NYSE: NYSE:GTLS) have announced a partnership focusing on carbon capture technology using natural gas and fuel cells. This collaboration aims to provide customers with near-zero-carbon power generation options that leverage existing fuel infrastructure. According to InvestingPro data, Bloom Energy has demonstrated strong market momentum with a 108.71% return over the past year, reflecting growing investor confidence in its clean energy solutions.

The partnership will combine Bloom Energy’s high-temperature fuel cell technology with Chart’s carbon capture expertise. Bloom’s fuel cells convert natural gas into electricity without combustion, producing a concentrated CO2 stream. This stream is more efficient for carbon capture compared to traditional power generation methods, which often yield low-concentration CO2 exhaust. With a healthy current ratio of 3.36, Bloom Energy maintains strong operational flexibility to support such strategic initiatives.

Chart Industries will process Bloom’s high-purity CO2 exhaust into forms suitable for utilization or sequestration. With sequestration infrastructure developing globally, the companies see CO2 utilization as an immediate step towards longer-term decarbonization goals.

KR Sridhar, Founder, Chairman, and CEO of Bloom Energy, stated that the partnership demonstrates the feasibility of cost-effective, onsite baseload power from natural gas with carbon capture at scale. Jill Evanko, CEO of Chart Industries, added that their collaboration with Bloom could unlock significant opportunities in the sequestration and utilization markets.

The announcement comes as Morgan Stanley (NYSE:MS) projects more than 500 million tonnes per annum of carbon storage capacity to become available within the next five years. The partnership is already exploring projects where captured CO2 will be used in the food and beverage industry.

This strategic move by Bloom Energy and Chart Industries reflects their commitment to carbon capture, utilization, and storage (CCUS) as a pathway to meet urgent energy needs while addressing global decarbonization efforts.

This news is based on a press release statement from Bloom Energy.

In other recent news, Bloom Energy has been the subject of several analyst revisions. Jefferies cut its price target for the company to $21 from $22, maintaining a Hold rating, amid expectations of a fourth-quarter performance that surpasses forecasts. Analyst Lloyd Byrne projected Bloom Energy’s revenue guidance for 2025 to be between $1.7 billion and $1.9 billion.

On the other hand, Piper Sandler raised its price target for Bloom Energy to $33 from $30, maintaining an Overweight rating. Analyst Kashy Harrison expressed a positive outlook on the company’s market opportunities and growth potential, suggesting that the current expectations for 2025 on Wall Street seem conservative.

Baird also showed optimism for Bloom Energy, maintaining an Outperform rating and significantly raising the price target to $32 from $15. This adjustment follows a series of meetings with Bloom Energy’s CFO and VP of Investor Relations, which left analysts with a positive outlook on the company’s prospects.

Roth/MKM initiated coverage on Bloom Energy with a Neutral rating and set a price target of $25.00, highlighting Bloom Energy’s leading role in the hydrogen fuel cell industry. Lastly, BofA Securities raised its price target for Bloom Energy to $20.00 from $7.00 but maintained an Underperform rating, citing potential execution risks associated with Bloom Energy’s operations.

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