November 15, 2024 – (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas for traders, including fuel cell and AI stocks reports on trading for -Bloom Energy (NYSE:BE), the world leader in stationary fuel cell power generation.
Bloom Energy stock is trending today on news of an AI Power Data deal. The stock is currently trading at $19.72, up 6.44, gaining 48.49% on volume of over 43 Million shares as of this report. The stock has a day’s high of $22.50.
Bloom announced that it has signed a supply agreement with American Electric Power (AEP) for up to 1 gigawatt (GW) of its products, the largest commercial procurement of fuel cells in the world to date. As part of this agreement, AEP has placed an order for 100 megawatts (MW) of fuel cells with further expansion orders expected in 2025.
The agreement expands Bloom’s previous work with AEP to deploy solid oxide fuel cells (SOFCs) in commercial and industrial settings. Bloom Energy’s fuel cell solutions can be rapidly deployed and offer very high availability – a combination of attributes that are not offered by any other commercial solution. Bloom fuel cell deployments have very high-power density, 100 MW per acre. The initial installation of Bloom’s fuel cells will help 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,” said KR Sridhar, Founder, Chairman, and CEO of Bloom Energy. “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.”
The solution will provide power with 34% lower CO2 emissions than today’s displaced marginal generation resources in PJM Interconnection. When running on natural gas, the solution also virtually eliminates SOx and NOx emissions. Bloom’s fuel cells can run on 100% hydrogen or any blend thereof with natural gas, providing flexibility to continue lowering its carbon footprint in the future.
Recent news:
https://finance.yahoo.com/news/bloom-energy-announces-gigawatt-fuel-231000591.html
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