Long-time Global Co-Head of Energy Investment Banking at Morgan Stanley Joins Bloom at Time of Unprecedented Power Demand to Expand Energy Partnership Ecosystem

Bloom Energy (NYSE:BE), a global leader in power solutions, today announced that Aaron Hoover will join the company to head business and corporate development. In this role, he will develop and oversee strategic partnerships with energy ecosystem players and drive corporate development initiatives as Bloom advances its mission to deliver reliable, clean, and affordable energy.

Mr. Hoover brings more than two decades of leadership experience in the energy and finance sectors. Most recently, he served as Global Co-Head of Energy Investment Banking at Morgan Stanley, where he advised leading energy and infrastructure companies on strategic transactions, capital raising, and long-term growth initiatives. His deep expertise across the energy value chain and proven track record of building transformative and trusted partnerships will be a tremendous asset to Bloom's next phase of growth and market expansion.

KR Sridhar, Founder, Chairman, and CEO of Bloom Energy, said:

"In a digital world where electricity abundance is a necessity, we see real opportunity to partner with the broader gas ecosystem to convert their molecules to reliable, clean power at AI speed and scale. Additionally, we are moving toward a future that demands not only the clean and reliable electricity we provide today, but also a near-zero emission power option. This decarbonization can only occur in the midterm with carbon capture and sequestration. While Bloom has an ideal platform for carbon capture at scale, sequestration can only be achieved through deep collaboration with the natural gas sector. Aaron joins Bloom at a pivotal moment in the global energy transition. His expertise, energy relationships and vision for evolving markets will help us scale our impact, and deliver clean, reliable energy where and when it's needed. I'm thrilled to welcome Aaron to our leadership team."

Aaron Hoover added:

"I'm deeply honored to join Bloom Energy and partner with KR, its world-renowned board, and the entire team at such a pivotal moment in the company's journey. The energy sector is undergoing a profound transformation, and Bloom's technology is well positioned to meet the urgent demand for clean, reliable, and scalable power solutions. I look forward to helping accelerate Bloom's growth, forge lasting partnerships, and contribute to its leadership in the energy transition. As Bloom strives to become the world's most meaningful energy company, I'm excited to leverage my expertise and relationships to help evaluate partnerships that are aligned with the company's growth strategy."

Mr. Hoover has been recognized by Business Insider as one of the "20 Powerhouse Bankers." Based in Houston, he will leverage his long-standing relationships across the energy sector to expand Bloom's partnerships and market presence.

About Bloom Energy

Bloom Energy empowers enterprises to meet soaring energy demands and responsibly take charge of their power needs. The company's fuel cell system provides ultra-resilient, highly scalable onsite electricity generation for Fortune 500 companies around the world, including data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors. Headquartered in Silicon Valley, Bloom Energy has deployed 1.5 GW of low-carbon power across more than 1,200 installations globally. For more information, visit our website.

Forward Looking Statements

This press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or the negative of these words or similar terms or expressions that concern Bloom's expectations, strategy, priorities, plans or intentions. These forward-looking statements include, but are not limited to, Bloom's leadership role in the energy transition, the ability of Bloom's technology to meet the energy demand needs, expectations regarding the growth of onsite power generation and distributed power, the pace of deployment, the ability for fuel cells to scale, the cost efficiency of fuel cells, Bloom's fuel cell solutions' ability to capture carbon at scale and Bloom's ability to develop partnerships in the energy ecosystem and otherwise. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, but not limited to, risks and uncertainties detailed in Bloom's SEC filings. More information on potential risks and uncertainties that may impact Bloom's business are set forth in Bloom's periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025, as well as subsequent reports filed with or furnished to the SEC. Bloom assumes no obligation to, and does not intend to, update any such forward-looking statements.

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For Bloom Energy

Media – Katja Gagen (press@bloomenergy.com)

Investors – Michael Tierney (investor@bloomenergy.com)

Bloom Energy Appoints Aaron Hoover to Lead Business and Corporate Development