Bloom Energy will be profitable this year, CEO says after IPO

Wall Street seemingly could not get enough of Bloom Energy Corp. on Wednesday, with shares rising more than 60% after an initial public offering that chief executive and founder K.R. Sridhar credited to his company’s ability to explain its purpose.

Investors “understood very clearly what the size of the market is, they understood what the opportunity is,” Sridhar told MarketWatch in a telephone interview.

Other solutions for rising global energy needs are “Band-Aids” that are not as reliable, as resilient to power fluctuations or as sustainable, he said.

Sridhar went on to say that Bloom Energy BE, +66.67% will be cash-flow positive and GAAP-profitable this year, and sustainably onward.

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