Ja bloomin Transcript löytyy ohesta + jotain nostoja:
https://www.google.com/amp/s/seekingalpha.com/amp/article/4486166-bloom-energy-corporation-be-ceo-k-r-sridhar-on-q4-2021-results-earnings-call-transcript
Importantly, we entered 2022 with a record backlog at $8.5 billion, almost double what it was last year. Our confidence in the future is stronger than ever. We’re looking forward to sharing our long-term vision during our investor conference in May and our roadmap to take Bloom from nearly $1 billion in revenue today to $15 billion or greater over the next decade.
Traditionally, most commercial and industrial customers get their baseload electricity from the electric grid. Today, that grid based electricity is not resilient and is getting more expensive. When customers want an alternative for their baseload power that is clean, cost predictable and resilient, Bloom is the best and often the only option in the marketplace. The Bloom Advantage is growing stronger, and the value proposition more evident by the day. Electricity rates are on the rise at an incredible clip. In California, utility rates are increasing by between 20% to 30% or majority of the customers.
Now, as we look at Korea, our offtake order guarantees a minimum of 450 megawatts in transactions over the next few years, that is three times the total orders we received in Korea over the past three years.
Our partner SK ecoplant anticipates that we will transact more than this minimum and our highly efficient hydrogen fuel cells will accelerate revenue growth
Our backlog is up nearly 100% year-over-year, our pipeline is stronger than it’s ever been. We now have more acceptances in a single quarter than we had in four quarters just a few years ago and our long-term growth rates are accelerating.
Like other companies with similar supply chains, we continue to see availability and price pressure on some components and logistics. While we’ve not yet seen a significant improvement, we do feel these issues are stabilizing and our teams have adapted well to operating in this environment.
We will be limited in our capacity in first half of the year, as we replenish our inventories and tour our new Fremont facility. In the first half of 2022, I would expect revenue to be roughly flat to 2021. As capacity is added, second half acceptances should increase product and service revenue growth to around 27% for the total year.
While we are planning for the supply chain environment to remain challenge through much of 2022, we’re targeting to reduce our product costs by 10% versus prior-year
While there will be a limited increase in capacity in the first half of 2022, we expect to have added nearly 300 megawatts of stack capacity by year-end. We expect to be at the one gigawatt of capacity by year-end 2023
One additional point on capacity, we usually describe capacity on a fuel cell basis, but the stack is common supported by fuel cell or the electrolyzer, when used as an electrolyzer the power rating is more than two times that of the fuel cell. As such, our capacity is over doubled and described on an electrolyzer basis, meaning the 580 megawatts of capacity that we are targeting for year-end 2022 will be roughly 1.4 gigawatts that were completely allocated to electrolyzers.
As we move into the back half of this decade, we should begin to see meaningful revenue from our marine application. We continue to meet our technical milestones, attract new partners, and receive broad industry interests across cargo, tanker, cruise ships and ferries. We based our growth projections on the forecast of new LNG fueled chips that could reach roughly 1000 builds by the year 2030.
I’d note this assumption does not yet include a retrofit option for existing LNG fueled ships. We believe that as this business scales, it could deliver $1 billion to $2 billion per year by 2031, including these growth opportunities that rely on the same proven fuel cell platform, we are increasing our targeted growth rate to 30% to 35%, compounded annually over the next 10 years. In summary, Bloom had an incredibly strong 2021 by focusing on execution.
Q&A:
Kustannustehokkuudesta verrattuna kilpailijoihin. Kysyttiin laitteiden vamistuskustannuksista, mikä Bloomin mukaan ei ole oleellisin:
In large scale more than 80% of the cost of hydrogen is the cost of input energy. We will be anywhere from 15% to 40% better than anybody else in that field. So they can offer their electrolyzer at zero cost and we will still be able to deliver low cost hydrogen.
Vastaus yhteen toiseen kysymykseen:
Our expectation is, as we get into the second half of the year, and our capacity increases, and our throughput increases, you’re going to see in we’re able to execute on our cost down initiatives, you’re going to see an improvement in our margins in the second half of the year, versus the first half of the year. So I would say your assumption is on.
Kysymys Eurooppaan menemisestä:
we prefer the markets where – there’s a great future outlook in terms of the support for decarbonization, with hydrogen policies, with the policies necessary for renewable natural gas, biogas all those things, and embracing that as a holistic, pragmatic, realistic, and step by step way to go. Both the U.S. market and Korea market characterize them.
So far, if you go back and look in Europe, things were different. But something has changed, right? Europe, in the last year has been plagued with acute energy shortages. People having to decide and the prices of those energy and electricity has been going up, BBC has the headlines of heat or eat and not having power, you put those things.
And then you also look at the number of big cities in Europe where the customers require power, and the utility is not able to provide power, the time to power issue. And then, the last thing that happened as of a few weeks ago, the European Commission coming in and encouraging investments in natural gas infrastructure, that adapt to a zero carbon fuel and technologies when they become available in the future, and blessing that as part of their green investment and it being private.
All the conditions now are satisfied. We are going to be all in on Europe, obvious countries that that you would imagine that we should be. And this year, you will see us announcing deals and entering those markets.
Omia huomioita:
Lukekaa koko scripti, on paljon hyvää asiaa ja johto on täysin luottavainen omaa tekemiseensä. H1 2022 kasvu jää tulematta tuotantokapasiteetin rajallisuuden vuoksi, mutta H2 pitäisi alkaa näkyä kasvua ja parempaa marginaalia, mikä toivottavasti vie kassavirran positiiviseksi. Tilauskirja on ainakin pullollaan ja enää tarvitsee ruveta toimittamaan.
Kommentit Euroopasta olivat myös mielenkiintoiset, kun vasta nyt näkevät sen olevan heille valmis liiketoimintaa ajatellen. Jäädään siis luottavaisina odottamaan uusia julkistuksia ja koko vuotta 2022. Jos jatkavat samalla tavalla lupausten täyttämistä kuin aikaisemmin, niin kyllä tästä tulee kova tekijä vety- ja energiasektorille
