SoftBank Group and Bloom Energy Corp. today announced the establishment of a 50/50 joint venture called Bloom Energy Japan Limited, that intends to address Japan's urgent need for clean, reliable, and affordable electricity. Bloom Energy Japan Limited will deploy Bloom Energy's unique, rapidly deployable Energy Servers to customers seeking to take control of their energy destiny while contributing to Japan's energy security, sustainability, and also to its economy.
The damage caused by the Great East Japan Earthquake, the incident at the Fukushima Daiichi Nuclear Power Plant and the subsequent closure of nuclear power plants have created a significant electrical power deficit in Japan. Subsequent energy imports have greatly expanded Japan’s trade deficit while consumer electricity prices have recently risen by double digits.
Bloom Energy Japan was created to provide a reliable electricity alternative that is at once safe, clean, affordable, and compact, and provides electricity 24/7. With the establishment of this Joint Venture, SoftBank will add distributed baseload power from Bloom Energy and further encourages the domestic use of clean energy complementing its existing portfolio of renewable energy sources such as solar and wind.
“I am delighted that we are establishing this Joint Venture with Bloom Energy, an innovation leader in energy. By providing Bloom Energy's breakthrough technology through this new Joint Venture, SoftBank will further empower the adoption of innovative, clean energy,†said Masayoshi Son, Representative and CEO of SoftBank.
“Empowering customers in Japan to buy electricity on their terms is another significant step on our journey to change the way energy is generated and consumed in the world,†said Dr. KR Sridhar, Principal Co-Founder and CEO of Bloom Energy.
