Related Party Transactions

12 Months Ended

Dec. 31, 2020

Our operations include the following related party transactions (in thousands):


	Years Ended December 31,
		2020		2019		2018

Total revenue from related parties		$	7,562	$	228,100	$	32,381
Interest expense to related parties		2,513		6,756		8,893
Consulting expenses to related parties 1 (included in general and administrative expense)		—		—		125
1As of July 2019, we no longer have a consultant considered to be a related party.

Bloom Energy Japan Limited

In May 2013, we entered into a joint venture with Softbank Corp., which is accounted for as an equity method investment. Under this arrangement, we sell Energy Servers and provide maintenance services to the joint venture. For the years ended December 31, 2020 and 2019, we recognized related party total revenue of $3.4 million and $4.2 million, respectively. Accounts receivable from this joint venture was $2.4 million as of December 31, 2020 and 2019.

SK Engineering & Construction Co., Ltd Joint Venture

In September 2019, we entered into a joint venture agreement with SK E&C to establish a light-assembly facility in the Republic of Korea for sales of certain portions of our Energy Server for the stationary utility and commercial and industrial market in the Republic of Korea. The joint venture is majority controlled and managed by us and is accounted for as a consolidated subsidiary. For the year ended December 31, 2020, we recognized related party total revenue of $4.2 million and we had no outstanding accounts receivable from this joint venture as of December 31, 2020.

Debt to Related Parties

We had no debt or convertible notes from investors considered to be related parties as of December 31, 2020.

The following is a summary of our debt and convertible notes from investors considered to be related parties as of December 31, 2019 (in thousands):


	Unpaid Principal Balance		Net Carrying Value
			Current		Long- Term		Total

Recourse debt from related parties:
10% Convertible Promissory Notes due December 2021 from related parties	$	20,801	$	20,801	$	—	$	20,801
Non-recourse debt from related parties:
7.5% Term Loan due September 2028 from related parties	38,337		3,882		31,088		34,970
Total debt from related parties	$	59,138	$	24,683	$	31,088	$	55,771

In November 2019, one related-party note holder exchanged $6.9 million of their 10% Convertible Notes at the conversion price of $11.25 per share into 616,302 shares of Class A common stock. On March 31, 2020, we issued $30.0 million of new 10% Convertible Notes to two related-party note holders. In May 2020, the 7.5% term loan note holder ceased to be considered a related party. We repaid $2.1 million and $2.2 million of the non-recourse 7.5% term loan principal balance in the year ended December 31, 2020 and 2019, respectively, and we paid $0.7 million and $3.0 million of interest in the year ended December 31, 2020 and 2019, respectively. In August 2020, NEA, Foris Ventures, LLC, and KPCB converted their notes of $33.9 million, $10.0 million and $6.9 million, plus accrued and unpaid interest into 4.2 million, 1.3 million and 0.9 million shares of Class B common stock respectively. All of the noteholders subsequently converted their shares into Class A common stock during August and September 2020. The unamortized premium of $2.3 million was reclassified to additional paid in capital. See Note 7 - Outstanding Loans and Security Agreements for additional information on our debt facilities.