Mentioned:
Oracle is making an ambitious bet on fuel cells to power their data centres. And they’re partnering up with a publicly traded company to do it.
What’s happening:
- Bloom Energy (NYSE: BE) has landed a new deal with Oracle (NYSE: ORCL) in which they will sell Oracle 2.8 gigawatts of solid oxide fuel cell systems to power Oracle’s data centres in the United States
Why it matters:
- This is the single largest deal Bloom Energy has ever done to install their fuel cells directly on site at data centres
Going deeper:
- Oracle has publicly stated they will begin immediately deploying 1.2 gigawatts of Bloom Energy’s fuel cells at their American data centres as part of the new deal
- Bloom Energy has been landing a flurry of large deals for their fuel cells recently, including previously striking a $2.65B USD deal with American Electric Power (NASDAQ: AEP)
The intrigue:
- Oracle also received roughly 3.5M warrants in Bloom Energy with an exercise price of $113.00 USD per share as part of the new deal
