IDF, Oaktree to invest $1.7 billion in Bloom Energy fuel cells for AI infrastructure

BLOOM ENERGY CORP

BLOOM ENERGY CORP

BE

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July 16 (Reuters) - Industrial Development Funding (IDF) and U.S.-based asset manager Oaktree said on Thursday they will invest $1.7 billion in deploying Bloom Energy's BE.N fuel-cell technology to help power AI cloud infrastructure, including dedicated electricity supply for Nebius' AI computing operations.

  • The investment will fund behind-the-meter power generation using Bloom's fuel cells, allowing Nebius to meet growing demand for AI compute capacity, the companies said.

  • IDF is leading the development of the Nebius project, while Oaktree is participating as a minority equity investor.

  • Data center operators are increasingly turning to nuclear, renewables and fuel cells to meet soaring power needs from AI and cloud computing, fueling billions in new infrastructure spending.

  • Brookfield BAM.N in 2025 had agreed to invest up to $5 billion in Bloom's fuel cell technology to power data centers

  • Fuel cells offer a cleaner alternative to traditional power by generating electricity through chemical reactions rather than combustion. Depending on the fuel, byproducts can include water and heat, making them more environmentally friendly.


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