Softbank Corp, the Japanese majority owner of Sprint Corp, formed a joint venture with Bloom Energy Corp to market and distribute the California startup’s fuel cell technology in Japan, the companies said.
Softbank, Japan’s third-biggest mobile phone company, and Sunnyvale-based Bloom will each contribute $10 million to the Bloom Energy Japan Ltd. venture, in which they will share equal ownership, according to a statement today on Softbank’s website.
Bloom’s units generate electricity from gas without burning the fuel, a more efficient process that produces fewer carbon emissions, according to Bloom’s website. Using fuel cell units also reduces the risk of blackouts, such as those that occurred in Japan after the March 2011 Fukushima accident, since they’re not dependent on centralized power plants.
“By providing Bloom Energy’s breakthrough technology through this new joint venture, SoftBank will further empower the adoption of innovative, clean energy,” Softbank Chief Executive Officer Masayoshi Son said in the statement.
Bloom Energy Financial Officer Bill Kurtz declined in an e-mail to provide details about the number of units that would be sold in Japan or their total generating capacity.
“I can state that both Softbank and Bloom envision Japan as a large market opportunity,” he said in the e-mail.
Bloom’s customers in the U.S. include Wal-Mart Stores Inc., AT&T Inc., Google Inc. and Coca-Cola Co., according to the joint statement.
Softbank’s renewable energy projects include stakes in a proposed 48-megawatt wind farm and a planned 39.5-megawatt solar plant at sites in western Japan. The company completed its takeover of Sprint this month.
