RTTNews | Oct 25, 2021 10:06AM EDT

10:06 Monday, October 25, 2021 (RTTNews.com) - Shares of Bloom Energy Corporation (BE) are surging more than 27% in the morning trade on Monday after the company announced expanded partnership with SK ecoplant.

The deal includes purchasing a minimum of 500 megawatts from Bloom Energy through 2024, a commitment of $4.5 billion in equipment and service revenues.

Further, SK ecoplant aims about $500 million equity investment in Bloom Energy.

Bloom Energy and SK ecoplant are also planning to create hydrogen innovation centers in the U.S. and South Korea

The companies started their partnership three year ago and have transacted about 200 MW of projects together with more than $1.8 billion of equipment and expected service revenue.

"We have seen the unparalleled performance of Bloom Energy's product over the past three years and the company's ability to execute and deliver a superior solution," said Kyung-II Park, CEO, SK ecoplant.

BE, currently at $25.66, has been trading in the range of $12.37- $44.95 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3235175/bloom-energy-spikes-on-4-5-bln-expanded-partnership-with-sk-ecoplant.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved