A (4:49)

So how many megawatts, I don't know how you judge it based on nameplate capacity or whatever you guys use, have been deployed so far?

B (4:58)

We have half a gigawatt already in deployed. We have been running, you know, many of these installs have been up and running for 10, 11 years.

A (5:09)

And so I agree, given all the constraints, you can't find gas turbines. There's all kinds of constraints everywhere. People are trying to find capacity anywhere they can. So it seems like this would be a great time for Bloem to. So what in terms of what you're offering Data center, it sounds like you, what's the time to market? And your reliability, you already mentioned is your availability. When you say reliability is that Your uptime is 99.9% our uptime.

B (5:40)

So yeah, so just to put it into a bit of context, as I mentioned, we've powered already half a gigawatt. We've logged nearly 2 million operating hours in off grid island mode, maintaining uptime during hurricanes, wildfires, etc. And also have over 170 microgrids deployed since 2011. Right. So from the reliability you know our technology has demonstrated we're capable right now. Also from scalability we have more the ability right now we've scaled up to a gigawatt of capacity in our, in our factory and we're on on plan to scale up to 2 gigawatts by the end of 2020 26.

A (6:31)

That's your annual production.

B (6:35)

And as the market demands the way we've built our structure is we can easily scale up. So our, you know we've done a phenomenal job of making sure that we're ready for this moment.

A (6:46)

I assume also but lets you confirm that given the way what I understand about the modular nature of the fuel cell and how it can be cited that this can also be something that can be used for anybody who's got load including a data center where you've got either transmission constraints or interconnection delays as a way to either self power or get behind those constraints.

B (7:15)

Absolutely. So right now we're seeing scenarios we are where we're pulling a gap and a bridge type for a shorter term capacity and then we're also having conversations on the longer term. Right. The it's going to take, you know, it's going to take over a decade before the grid is really built to where it can sustain or even longer. So we've got customers who are really looking at that. They're, you know, they're getting varying responses from, from the utility. You know, one minute it's, it's 12 months, the next it's you know, 36 months, etc. So we're having conversations today on shorter term gap requirements where you know, we're offering bridge power and then longer term solutions from 15 plus years.

A (8:02)

And is Bloom both the construction contractor and the long term service provider or how does it work if somebody has a need for fuel cell, how does the contract member they have to bring their own contractor. How do you, how do you get the point?

B (8:19)

That's a great question. So we run and maintain our servers with a promised guarantee of performance by ensuring consistency and efficiency. So that's something that's a key differentiator from others in the market. We guarantee whether you're at year five in the contract or year 10 in the contract that we're going to maintain that same level of efficiency where we're servicing it. We have the ability to proactively monitor and are often out and explain and making infield replacements before there's even an impact or the end User is even aware. And that's proven in the history of the half dawat that we've already got installed today.

A (9:00)

And how about the installation in the first place, is that also done by Bloom?

B (9:04)

It is, it is. As I mentioned, a lot of the work we've done in our plant. Right. So we're modular. You know, we're delivered on spin. A lot of the work. And this is the direction we're seeing a lot of, you know, the folks go to speed up deployment is whatever can be done in the factory minimizes the time and the risk on the delivery and execution side. And that. And that's our model.

A (9:28)

And how about the financing to deploy it? Does the hosts also pay for the facility upfront and arrange their own financing? Are you basically getting vendor financing or how do you, how do they pay for it?

B (9:44)

Yeah, so, Todd, we, we offer flexibility. So we've got, we've got financial partnership where we can offer ppa. We can, you know, service ingest. They can purchase electrons from us. Or you can do a capex agreement, which is often partnered with a management agreement. So a maintenance, I'm sorry, agreement where we are all of the maintenance for them.

A (10:10)

Okay. And what, in terms of tax incentives and other clean energy programs, does the technology qualify for? So if I were to buy the system, can I qualify for an investment tax credit?

B (10:24)

Absolutely. So we thankfully have made our way back into the big beautiful bill, so we're able to offer and fall under the 30% tax credit. The other big advantage is the fact that we have no knocks, no stocks to make air permitting, which is typically a long pole in the tent when it comes to speed to delivery and getting projects up and running. So we typically fall under the threshold requiring air permits. So that's a huge advantage in, you know, our speed to market that we can offer to our customers.

A (11:03)

So what historically then has been the biggest barrier to you. Instead of having 500 megawatts, having 5,000 megawatts deployed.

B (11:12)

So there's a few things, Todd. They're optimizing the supply chain. Right. So over the course of the last decade or so, there's been a tremendous amount of work in optimizing our supply chain, bringing the cost down. There also is the need, Right. The demand. Prior to the last couple of years, the utility was always an option. So essentially we're competing with the utility. Now we're complementing the utility or filling the gap for the utility. So it's, you know, it's a, it's a couple of things I'd Say we've optimized supply chain. Our technology has continued to get better. Right. Our load following capabilities, some of the testing that we've done, we've been able to prove that we can support, support this AI growth in this market. So it's a few things. Cost gaps we're filling for the utility and then also our technology impairments.

A (12:10)

All right, so last question for you. If there's something you wish that the market understood about your product, since you're on the sales side, what is it that you wish people you could get them to understand which would make your job a lot easier?

B (12:26)

Yeah. So I think, Todd, the market is really starting. They're really seeing the value of our technology. We're seeing that in a lot of the partnerships that we've already announced. Most recently we announced the speed to delivery with an Oracle project where we delivered a project ahead of time and our initial timeline was 90 days. We've been able to collaborate and offer flexible programs right behind the meter, from the meter, collaboration with the utility grid tide islanded. We have creative financing options. And then not only are we here to help them meet a gap in power, but there's also a lot more to our discussion. What more strategic, strategic longer term discussions we can have on how we can really help them impact and reduce some of their carbon footprint and their footprint in the data center.

A (13:28)

As we all know, we need as many sources of new capacity as we can and especially something that can come online quickly. And it sounds like you guys are well positioned to do that. So good luck and I hope you ramp up a lot more than 2,000 megawatts per year. We need it.

B (13:46)

We will. You'll definitely see some exciting, exciting announcements. So we look forward to it. Thank you for the time. Thanks for having me.

A (13:55)

Thank you. You can find us online at www.projectfinance.law or send us an email at currentsortonrosefullbright.com Please rate, review and subscribe on Apple Podcasts, Spotify or your preferred podcast app. Our show today was produced by Emily Rogers. Stay ahead of the Currents.