Oracle has expanded its partnership with fuel cell maker Bloom Energy to procure up to 2.8 GW of capacity. The enterprise software company received a warrant to purchase $400 million in Bloom stock.
The expanded partnership deepens Oracle's commitment to Bloom Energy's fuel cell technology as the tech giant seeks to power its data centers and cloud infrastructure with clean energy.
The warrant grants Oracle the right to purchase shares at a set price, positioning the company to benefit financially from Bloom's growth while securing long-term fuel cell capacity. This arrangement aligns with Oracle's sustainability goals and energy security needs.
Bloom Energy manufactures solid oxide fuel cells that generate electricity through an electrochemical process, producing power with minimal emissions. The 2.8 GW procurement represents a significant scaling of Oracle's previous commitments to the technology.
The deal reflects growing interest among tech giants in fuel cells as an alternative to traditional power sources and renewable energy. Companies including Amazon, eBay, and Microsoft have made similar investments in fuel cell technology to meet their expanding energy demands and decarbonization targets.
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