Wednesday, August 8, 2018

Bloom Hires Deforest Gump As Lobbyist For Hazmat



After Bloom got Schumer The Bloomer and the democrats to reinstate their 30% Investment Tax Credit retroactively, they fired their lobbyists.

They have now hired Deforest Gump to lobby republicans  to classify their hazmat as benign.

AKIN GUMP SIGNS BLOOM ENERGY: Akin Gump Strauss Hauer & Feld has signed Bloom Energy, a clean energy company. Ryan Thompson, a former chief of staff to Sen. Jim Inhofe (R-Okla.), will lobby on “issues related to the regulation of fuel cells under the [Resource Conservation and Recovery Act]” and “issues related to treatment of fuel cells under Public Utility Regulatory Policy Act,” according to the disclosure filing. Bloom Energy hired Akin Gump after terminating its relationship with several other Washington lobbying firms earlier this year, including Bay Bridge Strategies, Ridge Policy Group and Monument Policy Group.

Jim Inhofe and Bloom Energy both believe that CO2 in the air and Hazmat with Benzene is good for the country

Bloom Could Have Huge Service Liabilities



I sent this email five minutes ago to the SEC, Bloom Officers, and the green journalists

Good journalists should ask Bloom about their very low growth in Service Revenue over the past year.  Only 5.8% growth.

The installed base has grown by 26% in kilowatts of capacity.

Taking the $19.975 million of service revenue per quarter and dividing by 328,000 kw of installed base we have service revenue of $60.90 per kw per quarter.

Bloom claims a 5 year life (20 quarters).  This means service revenue over 5 years will total $1,218 per kw.  I do not believe this is enough to cover the service costs.  We know from Delaware  that there is much deferred maintenance. In Delaware almost 10% of capacity is lost due to lack of replacement parts. 

Bloom could have enormous service liabilities that are not shown on their books.

The SEC is requested to add this to the SEC file on Bloom Energy.

GREEN LIES MATTER

Tuesday, August 7, 2018

Bloom Q2 2018 Results



I took a look at the letter Bloom sent to investors.  My take away on their Q2 results.

The 30% ITC given to them by Schumer the Bloomer saved their ass.  They sold their boxes at an average price of $7,093 per kilowatt in Q2 2018 versus $5,581 in Q2 2017.  This is a 27% higher unit price that was made possible by the Schumer gift from us taxpayers.

Bloom's Total Installed System Costs increased from $4,966 per kilowatt in Q2 2017 to $5,607 per kilowatt in Q2 2018.  This is bad news given that Bloom operated at a larger scale in Q2 2018 versus a year ago.  Bloom claimed to have increased acceptances by 11.7% versus a year ago.  Why did unit costs increase by 12.9% when operating at a larger scale???  Bloom needs to answer this question.

They did raise $284.4 million in the IPO which means the underwriters took more shares to market than 18 million.  My guess is the full 20.7 million shares were sold for an average net price of $13.74 each.  This also means that Bloom paid a fairly hefty fee of 8.4% to get the IPO done.

Bloom gave projections on revenues per kilowatt and costs per kilowatt and how many kilowatts they will deliver in Q3.  Doing the math means Bloom is forecasting an addition of $8 million to gross margin in Q3 2018 over Q2 2018.

This means Bloom is forecasting being profitable at the operating level in Q3 2018 after having a loss at the operating level in Q2 2018.

It is interesting that Bloom did not report on the amount of new orders it received and what their backlog is.  Bloom sold 18.1 megawatts of fuel cells in Q2 and is forecasting selling 22.5 megawatts in Q3

Bloom's cumulative losses have now grown to $2.394 Billion.  This rounds off to three billion dollars.  Dr. Evil Sridhar needs to learn a new game for his lead role In Electric Powers The Con Who Screwed Us

How Bloom Energy Lied About Hazmat



The Bloomdogglers had their IPO and the CEO Lying Sridhar lied about profitability in the second quarter.  These are small lies compared to the lies Bloom has made for years on their hazardous solid waste.

I blogged about the hazmat in 2012, 2013, 2014, 2015, 2016, 2017 and 2018.

The S1 states the EPA intends to fine Bloom $1,000,000 for lying about hazmat.  One million dollars is bupkis for all the lies Bloom has made on the hazmat.  In Delaware alone, the fake Coastal Zone Act permit based on the lies Bloom told to DNREC has caused almost $300 million in subsidies so far.

Given that Crooked Colin Powell the War On Carbon Criminal can buy $5 million of shares to prop up the IPO.  Given that Deep State John Doerr has a net worth of $7.5 billion.  I think the EPA fine should be at least $1 billion.

This screenshot from Bloom Japan and the dangerous nature of the hazmat is priceless.  DANGEROUS GOODS IN APPARATUS ASSY,DESULFURIZER CANISTER,SILIPORITE (WITH FILTER UNIT ES5700…BLOOM ENERGY JAPAN LIMITED…BLOOM ENERGY U.S.A C/NO.1-2…Bloom Energy Japan Ltd


Sunday, August 5, 2018

JOIN THE RESISTANCE TO GREENWASHED BLOOM

I love this cartoon.  Ohm's Law says it all.




Thursday, August 2, 2018

Was there a DOE loan to Bloom Energy ???



My email of the day sent to the SEC

I reread the SEC document on Badger and Daubenspeck at Advanced Equities.  There is discussion about the AE guys telling investors in the Series F that DOE was going to make a huge loan of $300 million  but the SEC said Bloom only asked for a large loan of $96.8 million.


We do not know if the DOE made the loan and in searching online records of DOE loans I cannot find any loan made by the DOE to Bloom.  The S1 makes no mention of a DOE loan. We need to know if the loan was ever made or was rejected by the DOE.

One has to remember the DOE funded the voodoo science project of Ion America in 2006 at the University of Tennessee Chattanooga in 2005.  The DOE must have been aware of the results of the ASME study in 2008 on fuel cells that ranked Bloom dead last.

Hence by the time in 2009 when Bloom was requesting the loan from the DOE, the DOE must have known Bloom was a dog.   If the loan was not made, this probably was because the DOE knew how bad Bloom was.  If the DOE loan was made it was because Doerr, Gore and Powell were pulling strings.

Maybe the Stormy Times One Forty hush money Bloom paid to Badger and Daubenspeck has to do with their knowledge of the DOE loan?

Dan Primack do more digging on the DOE loan of $96.8 million and whether it happened or did not happen.

To the OIG of the SEC please put Burson and Stoltz on unpaid leave as they let the real stock fraudsters off the hook.   They nailed minnows while the real loan sharks got away

GREEN LIES MATTER


UPDATE


Reading a little more from the SEC document

47. During the March 5, 2010 call, Badger misstated that Company A had applied for a $400 million loan from the Department of Energy and that the Department of Energy had approved Company A to “draw the first hundred million” on the loan. In reality, Company A only had applied for a $96.8 million loan from the Department of Energy and never had the ability to draw down any amount of the loan. 48. Ultimately, Company A declined to accept the $47 million and returned the money to Advanced Equities and the investors in late March 2010. 

It looks like Bloom "never had the ability to draw down any amount of the loan".  This means the DOE knew Bloom was greenwashing and had a terrible Fuel Cell.

Steven Chu What Say You??