SCHEDULE: Ameriprise Financial Boosts Bloom Energy Stake to 12.9%

Ameriprise Financial, Inc. and its subsidiaries reported an aggregate beneficial ownership of 12.9% of Bloom Energy Corp's Class A Common Stock as of September 30, 2025.

Summary

• Ameriprise Financial, Inc. (AFI) and its subsidiaries, including Columbia Management Investment Advisers, LLC (CMIA) and Columbia Seligman Technology and Information Fund, filed an Amendment No. 8 to Schedule 13G.
• AFI reported beneficial ownership of 30,147,240 shares, representing 12.9% of Bloom Energy Corp's Class A Common Stock.
• CMIA reported beneficial ownership of 28,916,372 shares, representing 12.3% of the class.
• Columbia Seligman Technology and Information Fund reported beneficial ownership of 228 shares, representing 0.0% of the class.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Bloom Energy Corp.
• AFI and CMIA disclaim direct beneficial ownership, with AFI's ownership stemming from its control over CMIA, and CMIA's from its role as an investment adviser to various accounts.

Sentiment

Score: 7

Explanation: The filing indicates a significant and passive institutional investment by a major financial entity, Ameriprise Financial, in Bloom Energy Corp. This suggests a positive long-term view from a sophisticated investor, without any intent to influence control, which is generally seen as a vote of confidence. No negative information about Bloom Energy Corp is present.

Positives

• Significant institutional investment by Ameriprise Financial, Inc. and its subsidiaries, indicating confidence in Bloom Energy Corp.
• The investment is for ordinary course of business, not for control-influencing purposes, suggesting a long-term passive investment strategy.

Future Outlook

This filing does not contain forward-looking statements or guidance from Bloom Energy Corp, as it is a disclosure of beneficial ownership by an institutional investor.

Management Comments

• The filing includes certifications that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Industry Context

A Schedule 13G filing indicates a significant passive investment by a large financial institution in a publicly traded company. For Bloom Energy, a company in the energy technology sector, a substantial stake by Ameriprise Financial suggests institutional confidence in its long-term prospects, potentially related to growth in clean energy or fuel cell technologies. This type of filing is common for institutional investors managing diversified portfolios.

Comparison to Industry Standards

• This filing is a standard disclosure of beneficial ownership by a passive institutional investor. It does not provide operational or financial results for Bloom Energy Corp that would allow for a direct comparison to industry benchmarks or competitors like Plug Power, Ballard Power Systems, or FuelCell Energy.
• The ownership percentage of 12.9% by Ameriprise Financial is a significant stake for an institutional investor in a company of Bloom Energy's size, indicating a strong conviction in the investment.

Stakeholder Impact

• Shareholders: Increased institutional ownership may be viewed positively, potentially signaling confidence in the company's future.
• Management: No direct impact on management or operations, as the investment is passive.

Next Steps

• No specific future actions or milestones for Bloom Energy Corp are mentioned in this beneficial ownership filing. Ameriprise Financial and its subsidiaries will continue to monitor their investment and may file further amendments if their ownership percentage changes significantly.

Key Dates

Recommendation

The filing indicates a substantial and passive institutional investment by Ameriprise Financial, Inc. and its subsidiaries in Bloom Energy Corp, reaching 12.9% of Class A Common Stock. This signals a vote of confidence from a major financial player, suggesting a positive long-term outlook for the company. However, as a Schedule 13G, it does not provide new operational or financial performance data for Bloom Energy Corp. Therefore, while the institutional backing is a positive indicator, it does not fundamentally alter the company's immediate financial or operational trajectory to warrant an aggressive 'buy' or 'sell' recommendation. Investors should 'hold' and consider this institutional confidence as part of their broader assessment of Bloom Energy's fundamentals and market position.

Keywords

Bloom Energy Corp, BE, Ameriprise Financial, Columbia Management, Institutional Ownership, Schedule 13G, Class A Common Stock, Energy Technology, Fuel Cells