Bank of America Merrill Lynch Provides Fuel Cell Leasing Programme for Bloom Customers

14 Aug 2013

Bloom Merrill

Bloom Energy has announced the launch of a new leasing programme with Bank of America Merrill Lynch (BofA Merrill) for business customers to finance Bloom Energy projects that will generate clean, reliable, on-site power at customer facilities. The programme streamlines customer deployment of Bloom Energy Servers and eliminates the need for an upfront capital investment. BofA Merrill has made a multi-million dollar commitment to the programme’s two initial projects -- the TaylorMade-adidas Golf Company manufacturing facility in Carlsbad, CA and Honda Center in Anaheim, CA, home to the National Hockey League’s Anaheim Ducks. The two entities will use Bloom Energy’s clean energy technology to power their facilities.

“Bank of America Merrill Lynch has been a leader in providing capital and investment solutions for clean energy deployment,” said Bill Kurtz, Chief Financial & Commercial Officer of Bloom Energy. “This programme demonstrates the value in Bloom’s technology for customers and organisations looking for ways to invest and support the transition to a clean energy future.”

The multi-million dollar commitment is part of the Bank of America’s $50 billion environmental business initiative, which delivers lending, equipment finance, capital markets and advisory activities, and carbon markets finance to clients around the world to help address global climate change and demands on natural resources.

Merrill Lynch

“Our company has a long history of supporting innovation in energy and developing financing mechanisms to make clean energy more accessible,” said Paul Omohundro, head of Global Vendor Finance for BofA Merrill. “This programme extends the impact of the bank’s commitment to focusing on environmental issues and empowers other organisations to deploy clean energy on a large scale.”

“The Bloom project enhances our operations and reduces our carbon emissions while we remain focused on our main goal to deliver innovative high performance products,” said Andy Stenz, Facilities Director, TaylorMade-adidas Golf Company. “Through the Bank of America leasing programme, we can use our existing budget to support the Bloom project and realise benefits immediately.”

“We strive to be a progressive leader in our industry and are proud to be the second sports and entertainment arena to utilise this innovative technology,” said Michael Schulman, Chairman of the Board of Honda Center, Home of the Anaheim Ducks. “Working with Bloom Energy allows us to immediately reduce our carbon emissions, while continuing to provide the outstanding entertainment environment our fans have come to expect.”

This financing is a continuation of Bloom Energy's Bloom Electrons scheme, which was first launched in January 2011.


Source: Bloom Energy

Industry Directory: Bloom Energy


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