Silicon Valley’s Bloom Energy files for IPO after four years


Silicon Valley’s Bloom Energy files for IPO after four years

An initial public offering that’s been in the works for more than four years, may actually take place next month, after Silicon Valley-based Bloom Energy filed its prospectus to go public with the US Securities and Exchange Commission on Tuesday.

Long considered one of the Valley’s “It companies”, having raised an estimated $2.5 billion in equity and debt financing from some of Menlo Park’s biggest residents, Bloom Energy’s decision to go to Wall Street will also once again shine a spotlight on its founder —Indian-born KR Sridhar.

Sridhar had emerged as a darling of risk capital in the last decade as marquee investors, such as Kleiner Perkins Caulfied and Byers and New Enterprise Associates, among others, rushed to back clean energy ventures.

Prior to starting Bloom Energy, Sridhar, 58, shot to fame during his time at the University of Arizona, where he was the director of the Space Technology Laboratory and played a key role in NASA’s Mars programme. Read More

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