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), opens new tab 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.
>> In Other News: Airhive Acquires Carbyon, Creating a European Leader in Low-Cost Direct Air Capture Technology
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), opens new tab 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.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
Mombak Delivered Google's Amazon Carbon Credits Early
Inside This Issue 🌳 Brazil's Mombak Delivers Early to Google, Other Buyers in Boost for Carbon Removal Credits 🛫 Two Years Later, Delta's Minnesota SAF Plant Opens 💧 Delaware Hydrogen Company Targ...
-
Can Amogy Power Data Centers With Ammonia?
Inside This Issue ⚡ Amogy and 2G Energy Successfully Demonstrate Integrated Ammonia-to-Power Generation With Natural Gas Multi-Fuel Capability ✈️ Argus Launches SAF Emissions Reduction Indexes and...
-
Ontario Nickel Project Could Add $70 Billion
Inside This Issue 🍁 Canada Nickel Secures Federal Approval for Crawford Nickel Project 🏛️ Whitehouse, Coons, Peters, and Tonko Reintroduce Carbon Dioxide Removal Bill 🌲 Plumas County's Top Biomass...
Company Announcements
-
Major financing milestone supported by Power Sustainable advances Canada's first biofuel plant with integrated CO2 liquefaction technology toward commissioning and commercial operations. Convertus...
-
GHG Protocol Announces Key Standard Development Updates
WASHINGTON, D.C. (July 29, 2026) – Greenhouse Gas Protocol (GHGP) today announces a series of updates to its corporate standards as it continues to strengthen its governance, leadership, and instit...
-
Crew Carbon Signs Offtake Agreement With Microsoft for Wastewater Carbon Removal
The agreement further validates CREW’s high-quality credits, advancing industrial carbon removal at scale. BROOKLYN, N.Y. — CREW Carbon, Inc. (“CREW”) today announced an offtake agreement with Mic...
-
Haffner Energy Has Achieved a Key Qualification Milestone for Its New Generation H6
Haffner Energy has achieved a key qualification milestone for its new H6 generation technology. Confirmation of stable syngas production reinforces the H6’s commercial roll-out trajectory. Vitry...