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Michael Kanellos | February 26, 2009 at 7:22 AM 7 Comments

Paranoid Startup Bloom Energy Raising More Money

I didn't even know there was a Round F. Does this one go to eleven? The smug, highly secretive solid oxide fuel cell maker is said to be trying to raise a sixth round of venture funding. The new round is for $150 million, according to VentureWire. In all, that would bring the total in funding to over $400 million. Sources close to the company say that the mood inside is upbeat and that Bloom may soon discuss its technology. But we've heard this before. Bloom essentially makes a stationary device for industrial sites that produces power from chemical reactions. Bloom tends to have a selective form of paranoia. If the New York Times or Tom Friedman come knocking, the doors open. All others use the service entrance. Unfortunately, the obsequious gushing coverage of the company has yet to hit on one of the most important questions how come over six years of work and hundreds of millions in capital has resulted in virtually zero commercially available solid oxide fuel cells from the company? Inquiring minds want to know.

Fun side note: Bloom used to be called Ion America, which made it the only company in greentech to have a name that you could confuse with an afternoon TV talk show.

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Comments [7]

  • Jay 02/26/09 8:06 AM

    Sounds like they wont grant you an interview. Apply to the NY Times and maybe inquiring will know.

     Reply
  • Jay 02/26/09 8:07 AM

    Sounds like they wont grant you an interview. Apply to the NY Times and maybe inquiring minds will know.

     Reply
  • Robert Ellis 02/26/09 7:48 AM

    You may want to check your facts. The vaulation is 1.45 billion not total funding. I beleive the total funding is significantly less.

     Reply
  • ivan 03/4/09 5:52 AM

    what does it matter if they have a product or not? if youre not putting your money in, what do you care if they 15 or 20 rounds of funding? sounds to me like youre upset that they wont answer your questions, and after your bratty reaction its probably a good thing they didnt grant you an interview.

     Reply
  • vv-tec.com 03/25/09 6:34 PM

    The cogeneration Reinhardt Turbine piston turbine achieves over 60% efficiency for a cost of only $10 per KW.  A 30KW generator that costs a mere $300 while achieving 60%+ efficiency could solve the energy crisis.

    The company is proud to fully display its technology on its website, including prototype videos, patent applications, flash animations and downloadable 3d CAD files.

    vv-tec will not work with financiers, the technology is for the people of the world.  The 6th Kondratieff will be based on vv-tec technology.

     Reply
  • tooclose2detroit 04/19/09 9:56 AM

    Al Gore has tons of money invested in them-Al Gore has tons of money invested in Obama-Obama has tons of Chinese money to invest where the people that invested in him want him to invest-therefore, they will probably, eventually, be succesful.

     Reply

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