Bloom Energy Denies Supply Chain, Scandium Claims as Shares Climb After Activist Attack
BE•Bloom Energy shares rose after the company publicly rejected Crossroads Capital’s new report alleging supply chain irregularities and undisclosed scandium sourcing. The firm affirmed all supplier contracts meet quality standards and that no scandium deals occurred outside audited channels.
1. Crossroads Capital’s Allegations
On July 10, activist investor Crossroads Capital published a report accusing Bloom Energy of supplier quality lapses and engaging in undisclosed scandium sourcing, suggesting potential regulatory and compliance risks within its fuel cell manufacturing process.
2. Bloom Energy’s Rebuttal
Bloom Energy issued a statement fully rejecting the allegations, affirming that every supplier agreement meets strict quality standards and confirming that all scandium sourcing has been conducted through audited and approved channels with full transparency.
3. Market Reaction
Shares ended the trading session higher as investors reacted positively to the company’s prompt denial, easing intraday volatility and driving higher trading volume compared to recent days, signaling market confidence in Bloom Energy’s defense.
