Bloom Energy Rejects Allegations Over Financial Reporting
Bloom Energy (NYSE:BE) shares gained 6% in Thursday morning trading after the fuel cell manufacturer strongly rejected allegations contained in a recent short-seller report concerning its financial reporting and supply chain.
The company issued a statement responding to claims published on 8 July 2026 by Hunterbrook Media LLC, which disclosed that it may hold positions that would benefit if Bloom Energy’s share price declines.
Bloom Energy said the report’s allegations regarding its accounting practices and financial performance are “false and misleading.” The company reaffirmed the integrity of its audited financial statements and referred investors to its latest Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission.
Company Defends Supply Chain Strength
Bloom Energy also responded to concerns surrounding its supply of scandium oxide, a key material used in its fuel cell technology.
The company said it currently has sufficient scandium oxide inventories to support existing customer demand and its order backlog. It also emphasized that its supply chain is not dependent on China.
Management added that future expansion plans will likewise not rely on Chinese sources for scandium oxide as production capacity increases.
Production Capacity Remains on Track
According to Bloom Energy, the company has clear visibility across its supply chain to support annual fuel cell production of up to 25 gigawatts.
The business also said it intends to continue expanding manufacturing capacity to meet future demand as the global market for fuel cell technology grows.