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Sep 13, 2018

J.P. Morgan leads clean energy IPO

Published September 13, 2018 – Originating from a NASA project on Mars, clean energy “unicorn” Bloom made its market debut in a $270 million IPO led by J.P. Morgan.

The Sunnyvale, California-based company manufactures oxide-based fuel cells that produce electricity through a chemical reaction without the need for combustion. The technology also produces far fewer of the pollutants associated with traditional energy generation.

In addition to its role as lead book runner for the IPO, J.P. Morgan’s commitment to sustainability has seen the firm adopt Bloom’s technology to power a data center in Delaware.

“Since electricity was invented 140 years ago, there have been few major technological changes. Bloom Energy is completely changing the rules on how electricity is generated and how it is distributed. It was obvious to us they are transformational.”
Madhu Namburi, Head of Technology Investment Banking

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