Its basically a fuel cell which converts oxygen and fuel into hydrogen. And the founder wants the technology to be affordable to everyone.
Each fuel cell plate has enough power to run one light bulb. They stack these fuel cell plates and box them up as it is called Bloom Box.
Google and ebay are already using Bloom energy boxes. Can you imagine a Toyota Prius running on a bloom energy box?
Many expect G.E. General Electric will buy the technology or compete with them. I am sure many energy companies have produced something similar but have held back because traditional power is more profitable.