Bloom Energy announces expansion of Oracle data center agreement

Bloom Energy, a company with a production facility in Newark, Delaware, has announced a significant expansion of its partnership with tech giant Oracle. Under the new agreement, Oracle plans to acquire up to 2.8 gigawatts of Bloom's modular fuel cell systems, with an initial 1.2 GW already contracted for deployment through next year. This capacity is comparable to Delaware's total summer electricity consumption. Mahesh Thiagarajan, Executive Vice President of Oracle Cloud Infrastructure, emphasized that Bloom's reliable and efficient fuel cell energy enables Oracle to swiftly meet customer demands across the United States, thereby accelerating American AI leadership by building essential power and AI infrastructure. Aman Joshi, Chief Commercial Officer at Bloom Energy, echoed this sentiment, highlighting the companies' shared vision for the future of energy and AI. The fuel cells, which operate on natural gas, offer rapid deployment advantages, as demonstrated by a previous successful installation for Oracle in 55 days, significantly ahead of schedule. This expanded agreement has positively impacted Bloom Energy's stock market value, contributing to its profitability following a period of losses.