Robbins LLP Reminds Investors That a Securities Class Action was Filed Against Bloom Energy Corporation After the Company Revealed How Much It Relied on Scandium from China

Robbins LLP reminds investors that a securities class action has been filed on behalf of all persons and entities that purchased or otherwise acquired Bloom Energy Corporation (NYSE: BE) securities between February 27, 2025 and July 8, 2026 (the "Class Period"). Bloom Energy designs, manufactures, sells, and installs solid oxide fuel cell systems for on-site power generation in the United States and internationally. Scandium is a rare earth metal used as a dopant to stabilize the zirconia-based ceramic electrolyte in the Company's solid oxide fuel cells.

The lawsuit alleges that Bloom Energy misled investors regarding the source of its materials. Investors who suffered losses during the Class Period may have legal rights. The deadline to seek appointment as lead plaintiff is September 28, 2026.

According to the complaint, Bloom Energy described the Company's supply chain as not being dependent on China. The lawsuit alleges that Bloom Energy and certain defendants failed to adequately disclose that the Company was in fact reliant on Chinese scandium. According to plaintiff, defendants failed to disclose that: Bloom Energy obtained scandium through intermediaries who sourced the metal from China; the Company understated the extent to which it relied on scandium from China; and as a result, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The complaint alleges that several times during the class period, defendants reiterated that Bloom Energy was not reliant on China. Specifically:

February 27, 2025 - Bloom Energy stated in its annual report for the fiscal year ended December 31, 2024 on a Form 10-K filed with the SEC that the Company's "supply chain does not have significant exposure to China."

April 30, 2025 - on an earnings call in connection with the Company's first quarter 2025 financial results, defendant Sridhar stated that "there is no China supply chain for us" and "we are not dependent on China for scandium."

July 31, 2025 - Bloom Energy stated in its quarterly report for the period ended June 30, 2025 on a Form 10-Q filed with the SEC that the Company's "supply chain does not have significant exposure to China."

September 12, 2025 - Media outlet Semafor published an article containing an interview with defendant Sridhar in which Sridhar alleged "Starting in 2004, we said we are not going to depend on a Chinese supply chain. If we believe in energy abundance for all, there cannot be a single source to strangle you."

October 28, 2025 - Bloom Energy stated in its quarterly report for the period ended September 30, 2025 on a Form 10-Q filed with the SEC that the Company's "supply chain does not have significant exposure to China."

February 5, 2026 - Bloom Energy stated in its annual report for the fiscal year ended December 31, 2025 on a Form 10-K filed with the SEC that Company's "supply chain does not have significant exposure to China" and purported to assured investors China merely "supplies multiple components including rare earth metals and compounds used in electronic and electromechanical components that are part of our tier 2 and tier 3 sub-assembly suppliers."

June 10, 2026 - The Wall Street Journal published a video interview with defendant Sridhar in which Sridhar confirmed that one of the notable countries Bloom Energy is not sourcing from is China. Sridhar explained that "early on in the company we made a decision that we are only going to depend on supply chains that we can completely trust and that [China] was a country we avoided."

July 7, 2026 - Bloom Energy published a blog post authored by its COO in which they discussed the resiliency of Bloom Energy's supply chain and noted that the Company sources scandium from multiple sources.