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Bloom Energy Rejects Scandium Supply Claims
10 Jul
Summary
- Bloom Energy denies dependency on China for scandium oxide.
- Short-sellers allege Bloom's targets risk global scandium supply.
- Company states sufficient inventory to meet demand and growth.
- Reports claim Bloom's needs could exhaust nearly all global supply.
Bloom Energy Corp. has strongly denied allegations made by short-seller firms Crossroads Capital and Hunterbrook Capital concerning its supply chain transparency and material dependencies. In a recent SEC 8-K filing, the clean energy provider forcefully rejected claims of a critical reliance on China for scandium oxide, a key component in its solid oxide fuel cell servers.
The company stated it has sufficient scandium oxide inventory to meet current demand and backlog, asserting that its supply is not dependent on China. Bloom Energy also indicated that its supply chain visibility supports scaling production to 25 gigawatts annually, with plans for further capacity expansion.
However, short-seller reports, including one from Crossroads Capital, criticized Bloom's disclosures and warned of a potential "supply wall." Hunterbrook Research specifically alleged that Bloom's 5-gigawatt production goal would necessitate approximately 220 tons of scandium oxide, nearly the entire projected global supply of 240 tons, making such targets commercially unattainable.
