10 AI News Making Waves Today

8. Bloom Energy Corporation (NYSE:BE)

Market Capitalization: $4.71 billion

Bloom Energy Corporation (NYSE:BE) is engaged in the design, manufacture, selling, and installation of solid-oxide fuel cell systems for on-site power generation. Its proprietary solid oxide technology converts natural gas, biogas, or hydrogen into electricity without combustion, leading to low or no CO2 emission. The company has the potential to meet the power needs of AI data centers.

On November 14, Bloom Energy Corporation (NYSE:BE) announced that it has signed a supply agreement with American Electric Power (AEP) for up to 1 gigawatt (GW) of its products. The agreement marks the world’s largest commercial procurement of fuel cells to date. AEP has ordered 100 MW of fuel cells from Bloom Energy Corporation (NYSE:BE), with further orders expected in 2025. Fuel cell solutions offered by Bloom Energy Corporation (NYSE:BE) have the ability to be rapidly deployed, and have high availability and density, producing 100MW per acre. This initial installation will allow Bloom Energy’s fuel cells to meet the immediate power of AI data centers.

“I am delighted that there is strong market recognition that the Bloom Energy platform is the ideal choice for powering AI data centers. We are thrilled to be working with AEP as they lead the charge to bring innovative solutions to the transforming electricity market. With our proven track record of more than 1.3 GW deployed, and a fully functional factory that can deliver GWs of products per year, we are ready and able to meet this rapid electricity demand growth”.

– KR Sridhar, Founder, Chairman, and CEO of Bloom Energy.