Introducing Bloom Energy Bloom Energy delivers a clean, cost effective, and highly reliable “on-site” energy generation solution for stationary applications Total global electricity market is >$1 trillion per year, and there are over 2 billion people in the world who currently have no access to power Bloom Energy’s solution leverages Solid Oxide Fuel Cell technology; first pioneered for NASA Management team combines fuel cell expertise, semiconductor process and volume manufacturing experience, and business/startup know-how. Top tier investors include Kleiner Perkins and NEA; Board includes John Doerr, Vinod Khosla Confidential

Traditional Distributed Generation Technologies Diesel/Gas Genset Solar / Photovoltaic Proven Technology But… Dirty, Noisy, Inefficient Renewable, Clean and Quiet, But… Undependable, Expensive Microturbine Wind Turbine Little Bit Cleaner But… Noisy, Inefficient Renewable and Clean But… Undependable, Noisy, Expensive Today there exists a number of distributed generation technologies, each with their own sets of pros and cons Most common is the diesel genset- Pro– economics, proven Con- dirty, noisy Microturbines a newer technology- some improvements upon diesel but not far enough Solar- and Wind promises a “free source of energy” but is still quite expensive and “un-controllable” We are looking for the combination of Clean, Dependable, and Affordable… what about fuel cells? What’s Been Missing? Clean AND Reliable AND Affordable Confidential

Introducing Bloom Energy Making Clean, Reliable Energy Affordable Market Adoption Threshold Legacy Generators Solar / Wind X Clean X Reliable X Affordable Win for the environment and the economy Confidential

Our Vision The Color Of Money Nov 13, 2006 Confidential

Fuel Cells Explained A fuel cell is an electrochemical device in which fuel is oxidized without combustion to generate electrical energy (direct energy conversion) Different Types = Different Applications Commonly Four Types Associated with Stationary Power Generation current Carbon + Hydrogen fuel air Oxygen positive ions (H+) CxHy + zO2 nCO2 + mH2O + e–+ Heat (or) negative ions (O--) A fuel cell is electrochemical device for generating electricity No combustion Direct conversion (high efficiency) Essentially C and H in as fuel O in as air produce e, heat, water and CO2 Different Types of Fuel Cells for different apps (Automotive, Stationary, Portable) Commonly 4 types associated w/ Stationary Power anode electrolyte cathode Confidential

Fuel Cell Technology Comparison Proton Exchange Membrane Fuel Cell Type Phosphoric Acid Molten Carbonate Solid Oxide Electrolyte Membrane Acid Liquid Ceramic Cheaper Cleaner Fuel Flexible Reliable Reversible Why Solid Oxide? Temperature Low Medium High Highest Precious Metals Required Yes Yes No No Availability 95% 95% 95% 99+% Fuel Flexible No No No Yes CO2 Emissions 1200 lbs/MWh 1200 lbs/MWh 1000 lbs/MWh 750 lbs/MWh Electrical Efficiency 35% 37% 44% 58% National Renewable Energy Laboratory (NREL) Gas-Fired Distributed Energy Resource Technology Characterizations, 2003; BE Analysis Higher fuel utilization Higher current densities Dramatically cheaper to manufacture Current Flow e- e- Why Planar? Why Solid Oxide– High Temp, High Efficiency, Fuel Flexible, Low Emissions Why Planar– high volume low cost manufacturing (semiconductor analogy) e- Interconnect e- e- Anode e- e- Electrolyte (Solid Ceramic) Fuel Cathode Air Interconnect e- e- e- Bloom Energy has overcome the key technological hurdles to planar SOFC development… Confidential

Competitive Advantage: SOFC vs Solar / Wind Solar, while clean, is only available 18% of the time on average. Dirty, grid electricity (“brown power”) is required the other 82% of the time. SOFC is available 24 hours a day; making it a cleaner, cheaper alternative Confidential

Bloom Energy Value Propositions Premium quality continuous power Reduced CO2 emissions Reduced operating costs Protection against price volatility Energy generation and storage Summary of Benefits of Stationary Fuel Cells Confidential

Interest in Bloom Energy General Colin Powell Speaker of the House Pelosi Mayor Bloomberg (NYC) and Governor Schwarzenegger (CA) Senator Lieberman (CT) Charlie Rose Show w/ John Doerr and Scott McNealy Senator Bingaman (NM) Senator Ensign (NV) Congressman Wamp (TN) Senator Brownback (KS) Senator Feinstein (CA) Confidential

Why Bloom Energy? Right Technology… Right Team… Right Backing… Solid oxide holds the most promise for stationary power generation BE has solved the technical challenges to viable mass production Right Team… Blend of Fuel Cell, Semiconductor Volume Manufacturing, and Startup Know-how Right Backing… Silicon Valley’s Premier Venture Capitalists Right Time… Energy will be for the next decade what the Internet was for the last Confidential