Benzinga | Jul 21, 2021 01:10PM EDT

Bloom Energy Announces CHP Project In South Korea In Collaboration With SK Ecoplant

* Bloom Energy Corp (NYSE:BE) collaborates with SK ecoplant in South Korea on its first Combined Heat and Power (CHP) project. Terms not disclosed.

* The new 4.2 MW utility-scale CHP installation will leverage Bloom's solid oxide fuel cell (SOFC) technology configured in Power Tower format. Construction is expected to begin later this year.

* To be located in Donghae City, the power generated by Bloom Energy will produce 35,000-megawatt-hours per year of electricity while capturing 4 million megacalories of thermal energy through the Power Tower and SK ecoplant's heat recovery system.

* CHP technology simultaneously utilizes both the electricity it generates and the excess thermal energy it emits to recover and reuse the heat that would have otherwise been lost during the power generation process.

* Price Action: BE shares are trading higher by 7.18% at $22.38 on the last check Wednesday.