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Brookfield Asset Management is committing to spend billions on fuel cells. And they’re partnering up with a company on the New York Stock Exchange to do it.

What’s happening:

  • Brookfield Asset Management has formed a new partnership with Bloom Energy (NYSE: BE) to invest up to $5B USD into deploying Bloom Energy’s fuel cells at large scale data centres globally

Why it matters:‍

  • This is the single largest deal Bloom Energy has ever landed for their fuel cells since the company was founded

Going deeper:‍

  • Brookfield Asset Management plans to deploy the first Bloom Energy fuel cell at a data centre located in Europe imminently and will collaborate directly with Bloom Energy on the infrastructure design
  • The new deal with Brookfield Asset Management builds on existing partnerships Bloom Energy has already secured to power data centres for artificial intelligence workloads with large companies including American Electric Power and Oracle (NYSE: ORCL)