Bloom Energy ECONOMIC

Target: Bloom Energy Corporation Research date: 29 September 2026 Domain: Economic

Bloom Energy Corporation is a Delaware corporation headquartered at 4353 North First Street, San Jose, California. Its 2025 Form 10-K describes the United States as its largest market and South Korea as its second-largest, with selective expansion elsewhere in Europe and Asia; the filing does not disclose Israel as a separately reported market or provide Israel-specific revenue.¹ Bloom’s current corporate history places the company’s origins in K.R. Sridhar’s U.S. NASA-related work, and a June 2026 SEC filing states that Bloom was founded in 2001 by Sridhar.^{2, 3}

Supply Chain & Sourcing Relationships

Direct supplier relationships. No public evidence identified of Bloom Energy purchasing agricultural products from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors or other Israeli agricultural aggregators. Bloom’s disclosed business is the design and manufacture of solid-oxide fuel-cell and electrolyzer systems, and its public supply-chain materials focus on industrial sourcing, supplier conduct and responsible-minerals due diligence.^{1, 4}

Mineral sourcing. Bloom’s Form SD filed 1 June 2026 states that its Energy Server and Electrolyzer products contain tin, tungsten, tantalum and/or gold and incorporates the company’s 2025 Conflict Minerals Report.⁵ That report lists Israel in Appendix B among aggregated possible countries of origin reported through the responsible-minerals process, but Bloom expressly cautions that supplier responses may include more data than can be directly linked to Bloom’s covered products and that Appendix B can therefore contain countries from which its covered products are not sourced.⁶ The disclosure does not establish a named Israeli supplier, a purchase from Israel, or a settlement-origin input.⁶

Importer-of-record structure. No public evidence identified of a Bloom-owned Israeli importer of record. Bloom’s significant-subsidiary exhibit for 2025 names Bloom Energy (India) Pvt. Ltd. and Bloom SK Fuel Cell, LLC in South Korea; it also states that other subsidiaries are omitted if, in aggregate, they are not significant under Regulation S-K, so the exhibit cannot establish that no smaller Israeli subsidiary exists.⁷

Third-party commercial channel. B Clean Energy’s current English-language page says it is the “official representative of Bloom Energy in Israel” and offers consultation, system design, installation and ongoing support from 6 Ha-Tikshoret Street, Migdal HaEmek.⁸ Public Israeli company-data mirrors identify B CLEAN ENERGY (BLOOM) LTD, company 517157756, as an active Israeli private company incorporated on 5 May 2025.^{9, 10} A Guideline company-registry page independently identifies company 517157756 as an active Israeli private company registered on 5 May 2025 at the same Nahalal address.¹¹ These records establish the local company’s existence; they do not establish Bloom Energy Corporation’s ownership percentage, if any, or the terms of the claimed representative appointment.^{8, 9, 11}

Seasonal sourcing. No public evidence identified. The seasonal-produce questions in the audit rubric did not produce target-relevant evidence for Bloom’s industrial power-equipment business.^{1, 4}

Product Origin, Labeling & Regulatory Compliance

Settlement-origin products. No public evidence identified that Bloom Energy equipment, components or other products are sourced from Israeli settlements or from the West Bank, East Jerusalem or Golan Heights. The conflict-minerals country list cannot support such an inference because Bloom expressly warns that the country appendix is broader than traceable sourcing for its covered products.⁶

Country-of-origin labeling. No public evidence identified of a government finding, customs audit, regulatory citation or enforcement action against Bloom concerning the labeling of settlement-origin goods. Bloom’s public customer catalogue and supply-chain page do not identify a settlement-origin product line.^{4, 12}

Corporate labeling or sourcing policy for occupied territories. No public evidence identified of a Bloom policy specifically addressing sourcing from, or country-of-origin labeling for, occupied or disputed territories. Bloom’s current public supply-chain page instead publishes general supplier-conduct and responsible-minerals materials.⁴

Investment, Capital & Financial Exposure

Foreign direct investment and acquired Israeli subsidiaries. No public evidence identified of Bloom Energy acquiring or holding a controlling stake in an Israeli operating company, or of a Bloom-owned Israeli factory, data centre, logistics hub or real-estate asset. The 2025 significant-subsidiary exhibit lists India and South Korea only, subject to its express materiality-based omission of other subsidiaries.⁷ The Israeli B CLEAN ENERGY (BLOOM) LTD entity is not identified as a Bloom subsidiary in the public evidence reviewed; its own website’s “official representative” wording establishes a claimed commercial relationship, not corporate ownership.^{8, 9}

R&D and innovation centres. No public evidence identified of a Bloom R&D or innovation centre in Israel. Bloom’s 2025 Form 10-K describes its principal U.S. facilities in San Jose, Fremont and Newark, Delaware, and describes its principal R&D/manufacturing activity without identifying an Israeli facility.¹ Bloom’s current contact page lists international contacts and locations but does not list an Israel office; that omission is not treated as proof that no other activity exists.¹³

Beneficial ownership and Israeli-Nexus factors. Bloom’s 2026 proxy reports holders above 5% as Ameriprise Financial (10.7%), BlackRock (7.9%) and Vanguard (6.9%) as of 27 February 2026; it also describes SK ecoplant’s stake as approximately 2.5% at 31 December 2025 after 2025 share sales.¹⁴ No Israeli holder appears in that disclosed >5% table.¹⁴ no public evidence identified that Bloom was founded in Israel, has its headquarters or principal place of management in Israel, holds Israeli tax-resident or Preferred Technology Enterprise status, or is beneficially controlled by Israeli capital.^{1, 14, 2, 3}

Controlling principals. Bloom’s current leadership page identifies K.R. Sridhar as founder, chairman and chief executive officer.¹⁵ Targeted searches for Sridhar and the disclosed controlling/significant ownership relationships did not identify a material personal or family-office investment by a controlling Bloom principal in an Israeli company. No public evidence identified.^{14, 15}

Portfolio exposure and financing the State. Bloom is an industrial power-technology issuer rather than a financial-sector target.¹ no public evidence identified that Bloom or a disclosed corporate parent holds Israeli sovereign debt, Israel-focused investment funds, or a material portfolio of Israeli-domiciled securities; no public evidence identified of Bloom underwriting, arranging or selling Israeli sovereign debt or Israel Bonds.^{1, 14}

Constructive-notice timing. The Israeli private company used by the representative website was incorporated on 5 May 2025, and the representative website was live when reviewed on 29 September 2026.^{8, 9} The identified Israel-channel evidence therefore post-dates both the 19 July 2024 ICJ advisory opinion and the November 2024 checkpoint specified by this audit rubric; this dates the evidence only and does not establish when Bloom itself authorized the relationship.^{8, 9, 16}

Operational Presence & Market Activity

Physical footprint. No Bloom-owned Israel office, manufacturing plant, warehouse or support centre was identified in Bloom’s 2025 Form 10-K or current contact page.^{1, 13} B Clean Energy, which describes itself as Bloom’s official Israeli representative, publishes a Migdal HaEmek contact address; the separately identified Israeli legal entity is registered in Nahalal.^{8, 9}

Employment and tax contribution. No public evidence identified of Bloom Energy’s employee count in Israel, Israeli tax payments, Israeli tax-residency status, PTE status or a Bloom corporate tax registration. The public registry evidence establishes an Israeli private company named B CLEAN ENERGY (BLOOM) LTD but does not establish that entity’s tax contribution or that it is Bloom-owned.^{9, 10}

Market positioning. Bloom’s 2025 Form 10-K describes the United States as its largest market by revenue and installed base and South Korea as its second-largest market; it does not separately characterize Israel as a strategic growth market or regional hub.¹ By contrast, B Clean Energy’s own marketing page says it brings Bloom fuel-cell technology to the Israeli energy market and offers local design, installation and support.⁸

Customers and deployments. Bloom’s current public customer catalogue contains many named global customers, but no named Israeli customer was identified in the page reviewed.¹² Because that catalogue is not represented as exhaustive, this is not evidence that Bloom has no Israeli customer. No independently verified Israeli Bloom installation, capacity figure, purchase order or completed sale was identified.

Corporate Structure & Foundational Ties

Founding and incorporation. Bloom’s current company history says its beginnings were in K.R. Sridhar’s work at the University of Arizona for NASA-related Mars technology, and a June 2026 SEC filing states that Bloom was founded in 2001 by Sridhar.^{2, 3} Bloom Energy Corporation is currently incorporated in Delaware and headquartered in San Jose, California.¹ no public evidence identified that Bloom was founded or originally incorporated in Israel.^{1, 2, 3}

Israeli operating companies acquired or controlled. No public evidence identified of an Israeli manufacturer, technology company, infrastructure firm or other Israeli operating company acquired by Bloom or held by Bloom at a controlling stake.^{1, 7} B CLEAN ENERGY (BLOOM) LTD was incorporated in Israel in May 2025 and is independently visible in Israeli company-data sources, but the evidence reviewed does not establish a Bloom acquisition, Bloom shareholding percentage or control.^{8, 9, 11, 10}

State and institutional linkages. No public evidence identified of Israeli state ownership in Bloom, an Israeli government board appointee, an Israeli state procurement award to Bloom, or a designation of Bloom as Israeli critical national infrastructure.^{1, 14} The representative’s current website does not name a government customer or project.⁸

Structural governance. No public evidence identified of a golden share, charter right or other Bloom governance mechanism tying the company to the Israeli state. Bloom’s current proxy identifies its material holders and governance structure without disclosing such a mechanism.¹⁴

Settlement nexus and authoritative-source checks. OHCHR’s 2023 database update described the mandate and then-current settlement-related business list; the 2024 progress report described the next review cycle, and the 2025 update reported 158 listed enterprises after reviewing 215 companies.^{17, 18, 19} A/HRC/59/23 states that more than 45 entities were named in that report from a broader body of submissions; a targeted full-text search for “Bloom” produced no match in the worker’s retrieved copy.²⁰ A 25 September 2026 Reuters report says OHCHR’s latest update expanded the database to 214 companies, adding 61 and removing five, and a Palestinian public-body page identifies that update as A/HRC/63/20.^{21, 22} The worker could not retrieve the official 2026 annex from OHCHR because the current official endpoints returned HTTP 403, so no definitive claim is made that Bloom Energy or B Clean Energy is absent from the latest A/HRC/63/20 list. No public evidence identified in the retrievable sources reviewed of a Bloom or B Clean Energy sale, installation, branch, service, sourcing relationship or revenue in an Israeli settlement or other occupied territory.^{8, 19, 20, 18, 17, 21, 22}

Profit Repatriation & Economic Contribution

Revenue attribution. Bloom reported approximately $2.024 billion of 2025 revenue and described the United States and South Korea as its two largest markets in its 2025 Form 10-K, but it did not disclose Israel-specific revenue.¹ no public evidence identified of the value of sales, if any, generated through B Clean Energy.⁸

Profit flows. No public evidence identified showing Bloom-generated profits flowing into Israel through Israeli-domiciled ownership, or showing the direction or value of profits generated by B Clean Energy flowing to Bloom Energy Corporation. The unresolved ownership and contractual relationship between Bloom and B CLEAN ENERGY (BLOOM) LTD prevents a supported profit-repatriation finding.^{8, 9, 11, 10}

Economic-ecosystem role. No public evidence identified from Bloom’s filings or the reviewed Israeli corporate sources characterizing Bloom as a key Israeli employer, sector anchor, critical-infrastructure provider or dominant participant in the Israeli energy market.^{1, 8, 9} B Clean Energy markets Bloom technology to the Israeli energy market, but no independently verified deployment scale, revenue, installed megawatts or market share was identified.⁸

Unresolved evidence gaps

• Official Bloom confirmation of B Clean Energy’s representative appointment, effective date, exclusivity and contract terms.⁸
• A primary Israeli Registrar extract establishing all current shareholders and ownership percentages of company 517157756.^{9, 11, 10}
• Named Israeli customers, orders, deployed megawatts, Israel-specific revenue, employees, taxes and regulatory registrations.^{1, 12, 8}
• Any evidence locating a Bloom/B Clean Energy transaction or service in the West Bank, East Jerusalem or Golan Heights.⁸
• A definitive Bloom/B Clean Energy name check against the full current A/HRC/63/20 annex, which the worker could not retrieve from the official OHCHR endpoint.^{21, 22}