Bloom Energy Announces Leasing Program with Bank of America Merrill Lynch for Bloom Customers
TaylorMade-adidas Golf Company and Honda Center in Anaheim are the first customers to take advantage of new program
SUNNYVALE, Calif., Aug. 13, 2013 /PRNewswire/ -- Bloom Energy today announced a new leasing program with Bank of America Merrill Lynch for business customers to finance Bloom Energy projects that will generate clean, reliable, on-site power at customer facilities. The program streamlines customer deployment of Bloom Energy Servers and eliminates the need for an upfront capital investment. BofA Merrill has made a multi-million dollar commitment to the program's two initial projects -- the TaylorMade-adidas Golf Company manufacturing facility in Carlsbad, CA and Honda Center in Anaheim, CA, home to the National Hockey League's Anaheim Ducks. The two entities will use Bloom Energy's clean energy technology to power their facilities.
"Bank of America Merrill Lynch has been a leader in providing capital and investment solutions for clean energy deployment," said Bill Kurtz, Chief Financial & Commercial Officer of Bloom Energy. "This program demonstrates the value in Bloom's technology for customers and organizations looking for ways to invest and support the transition to a clean energy future."
The multi-million dollar commitment is part of the Bank of America's $50 billion environmental business initiative, which delivers lending, equipment finance, capital markets and advisory activities, and carbon markets finance to clients around the world to help address global climate change and demands on natural resources.
"Our company has a long history of supporting innovation in energy and developing financing mechanisms to make clean energy more accessible," said Paul Omohundro, head of Global Vendor Finance for BofA Merrill. "This program extends the impact of the bank's commitment to focusing on environmental issues and empowers other organizations to deploy clean energy on a large scale."
"The Bloom project enhances our operations and reduces our carbon emissions while we remain focused on our main goal to deliver innovative high performance products," said Andy Stenz, Facilities Director, TaylorMade-adidas Golf Company. "Through the Bank of America leasing program, we can use our existing budget to support the Bloom project and realize benefits immediately."
"We strive to be a progressive leader in our industry and are proud to be the second sports and entertainment arena to utilize this innovative technology," said Michael Schulman, Chairman of the Board of Honda Center, Home of the Anaheim Ducks. "Working with Bloom Energy allows us to immediately reduce our carbon emissions, while continuing to provide the outstanding entertainment environment our fans have come to expect."
About Bloom Energy
Bloom Energy is a provider of breakthrough solid oxide fuel cell technology generating clean, highly-efficient on-site power from multiple fuel sources. The company was founded in 2001 with a mission to make clean, reliable energy affordable for everyone in the world. Bloom Energy Servers are currently producing power for several Fortune 500 companies including Google, Walmart, AT&T, eBay, Staples, The Coca-Cola Company, as well as notable non-profit organizations such as Caltech and Kaiser Permanente. The company is headquartered in Sunnyvale, CA. For more information, visit www.bloomenergy.com.
SOURCE Bloom Energy
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