Bloom Energy falls after Hunterbrook report on backlog

Bloom Energy

08/07/2026 19:29

** Shares of fuel-cell maker Bloom Energy BE.N down 9.1% at $244.95
** Bloom markets an unaudited $20 billion "backlog" of orders, as per Hunterbrook Media's reporting
** Report says BE CEO Sridhar swore Bloom had "no China supply chain", but Hunterbrook traced 4 China-linked scandium routes, including direct shipments and flows via Thailand, Japan and South Korea
** Hunterbrook's supply-demand model estimates Bloom alone would need roughly 220 tons of scandium oxide to hit Wall Street's 5-gigawatt annual production target
** Report concludes Bloom's production ramp is "physically and commercially unattainable" on current numbers, implying a scandium shortage industry-wide by 2028
** "We are reviewing the report and will correct the record," Bloom Energy says
** "Bloom's fuel cell platform is supported by a diversified, multi-country supply chain built over two decades, long-standing commercial relationships, and proprietary materials-recovery technology, as described in our public filings and our July 7 blog post on scandium oxide." - Bloom Energy
** Including session's moves, BE up 180.67% YTD

(Reporting by Dharna Bafna in Bengaluru)
((dharna.bafna@thomsonreuters.com))