Bloom Energy Touts Breakthrough In Affordable Energy Technology

Bloom Energy will launch itself into the biogas market this summer with IKEA confirming two of its retail stores in the San Francisco area will start producing electricity from Bloom’s manufactured fuel-cell system. “For IKEA, Bloom’s fuel cells will help offset carbon dioxide emissions and contribute to the global home-furnishings chain’s 2020 goal of being energy-independent.

For Bloom Energy, IKEA’s installation of its fuel-cell technology marks yet another point of growth for the cleantech company, whose list of big-name customers also includes eBay, Google, Adobe, Coca-Cola, Apple and more than 60 others.” [CNBC]

A U.S. bankruptcy judge has granted Energy Future Holdings Corp. more time to round up investors as creditors and potential bidders flock towards its valuable transmissions subsidary, Oncor. “Judge Christopher Sontchi of the U.S. Bankruptcy Court in Wilmington, Del., granted Energy Future’s request to ward off the threat of competing chapter 11 plans until Oct. 29, the maximum time allowed by law.

The decision means all offers for Oncor must go through Energy Future. Making the most of Oncor is Energy Future’s chief hope to resolve the $42 billion debt load that pushed it into bankruptcy more than a year ago.” [WSJ]

Saudi Arabia is developing a new energy agenda with a focus on delivering fuel to its growing economy rather than the global price of crude oil that has traditionally driven OPEC policy. “The shift is upending the traditional market dynamics that have influenced the direction of oil prices for decades.

While American producers are pulling back in the face of the current weak prices, Saudi Arabia, the largest OPEC producer by far, has been pumping more and more barrels. Saudi Arabia’s daily production in March and April nearly equaled its record output in 1980 when prices were soaring.” [The NY Times]