MTAR Technologies, a key supplier of hot boxes for Bloom Energy’s (BE) solid oxide fuel cell units, announced plans to expand capacity from 8,000 units to 30,000 units by March 31, 2028, supporting potential growth for Bloom Energy, Wells Fargo tells investors in a research note. While MTAR provides roughly 50% of Bloom Energy’s hot boxes, the company’s 30% growth target through 2030 is vague and contrasts with the firm’s 9GW forecast, leaving some uncertainty about Bloom’s total supply trajectory. Wells Fargo has an Equal Weight rating and $95 price target on Bloom Energy shares.
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