Well it was a promising source of green energy which could power your homes and corporate offices. And now Bloom Box has indeed come a long way against all odds after being labeled as another source of green energy to costly to be viable and is almost halfway in its journey to turn profitable and repay the trust its investors and others have put in it.
For those of you needing a heads up on the Bloom Box carbon neutral technology, here is the link you need to read. As per CFO Bill Kurtz, Bloom Box is doing pretty great as it doubles its number of installations every six months and now the challenge is not only to sustain the growth rate but increase it steadily as well maintaining the quality of the product and the service at the same time.
While, Google was the first corporate giant in the Silicon Valley to adopt Bloom Box’s technology in their offices for about 18 months now Apple and eBay are one of its biggest client. Both of them primarily use the technology to power their huge data centers.
Bloom Box has remained a capital intensive firm over the last 10 years needing a lot of cash to pump up its manufacturing capacity and thereby fuel its growth. It has managed to raise about $650m till date and is in talks to generate another $150m which would take the overall tally to a whopping $800m.
Though the energy is reliable it isn’t very cheap, which is one of the challenges facing the firm. A little subsidy from the government wouldn’t really hurt if it can help reduce the manufacturing costs thus paving the way for cheaper fuel cells thus facilitating mass adoption of the technology.
