Why Bloom Energy Stock Is Zooming Today
Shares of Bloom Energy (NYSE: BE) shot up this morning and were 6.3% higher as of 11 a.m. ET. The hydrogen fuel-cell maker bagged a new deal, refueling investor interest in the stock that has dropped sharply since early April.
Bloom Energy has received an order from industrial and agricultural chemicals producer LSB Industries (NYSE: LXU) for a 10-megawatt electrolyzing device, which produces hydrogen by splitting water into hydrogen and oxygen with electricity.
LSB plans to install the device at its Oklahoma facility to produce green hydrogen that can synthesize roughly 13,000 metric tons of zero-carbon ammonia per year. Production is expected to start in 2023.
Source Fool.com