EQT’s certified natural gas agreement will enable Bloom Energy customers such as T-Mobile to use responsible fuels
SAN JOSE, Calif. and PITTSBURGH, Penn. – April 21, 2022– Bloom Energy (NYSE: BE) and EQT, the largest producer of natural gas in the U.S., today announced they have closed a certificate trade agreement (CTA) for certified, responsibly sourced natural gas. Bloom Energy has purchased certificates for all of its U.S. fleet’s natural gas consumption for the next two years from EQT. EQT’s certified natural gas became available for sale in December 2021. The agreement marks the realization of Bloom’s commitment made in July 2021 to convert its fleet to certified gas.
Together, Bloom and EQT are leading the market for certified natural gas, which not only allows end-users to reduce the emissions associated with their value chain but also incentives emissions reduction efforts by producers.
By converting its U.S. fleet of fuel cell installations – deployed at more than 700 sites – to EQT’s certified natural gas, an estimated 176,000 metric tons of CO2e emissions will be avoided per year when compared to the national average leak rate, the equivalent of 38,329 passenger vehicles taken off the road annually.
The certificates purchased by Bloom from EQT represent gas production jointly approved under both the MiQ Methane Standard and the Equitable Origin EO100TM Standard for Responsible Energy Development, which together provide a transparent, verified method for tracking environmental, social and governance (ESG) performance. The certification standards developed by MiQ and EO aim to bring transparency to an opaque market, drive demand for certified natural gas and help operators differentiate themselves through methane-emissions performance and overall responsible energy production.
“As the energy industry works to make renewable and zero-carbon technologies more widely available, we must do everything in our power to reduce the carbon intensity of today’s energy production,” said Stephen Lamm, senior director of sustainability, Bloom Energy. “By transitioning our domestic fleet of fuel cells to certified natural gas, we believe we are taking an immediate and impactful step to help eliminate harmful methane emissions as we lay the foundation for a net-zero future. We’re proud to partner with EQT on their mission to transform the natural gas market, and we strongly urge other gas producers and consumers to join us in embracing more responsible practices – not only for the industry, but the planet.”
“We are excited to support Bloom’s transition to certified, responsibly sourced natural gas, which is expected to make an immediate and significant impact on their customers’ efforts to reduce their own environmental footprint,” said Toby Z. Rice, President and CEO, EQT. “Natural gas offers an immediate path to decarbonize industries in an impactful way. This agreement validates our belief that certified natural gas is a differentiator for customers seeking affordable, reliable and clean energy sources that are produced with the highest of ESG standards.”
EQT’s certified natural gas production currently comprises 4.5% of all-natural gas produced in the U.S., making EQT not only the nation’s largest natural gas producer, but also the nation’s largest producer of certified natural gas.
The use of certified natural gas is gaining increasing interest from major organizations, such as T-Mobile, who value the benefits of clean, reliable, and resilient energy.
“Bloom Energy power will support approximately 20 T-Mobile data centers across multiple states and, more broadly, help us deliver on our commitment to create a more sustainable future by sourcing clean and lower carbon resources for our operations,” said Chad Wilkerson, director of sustainability and infrastructure sourcing, T-Mobile.
This work aligns with Bloom’s gas sector transformation and consistent decarbonization efforts, including the implementation of waste-to-electricity solutions using biogas and the production of low-cost green hydrogen through the integration of concentrated solar and solid oxide electrolyzer technologies.