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
-
400 Tons of Hydrogen Daily to Power Data Centers
Inside This Issue ⚡ HDF Energy Selects Topsoe for 250 MW Power Plant in Texas 🍁 Deep Conduit Signature Identified Near Lawson 4 Expands Commercial Potential of Canada’s First Subsurface Natural Hy...
-
Why Meta Wants 200,000 Tons of Cement Credits
Inside This Issue 🤝 Fortera and Meta Sign Multi-Year Environmental Attribute Certificate (EAC) Purchase Agreement for Low Carbon Cement ✈️ Massachusetts Marks 1st Barge Delivery of SAF to Boston L...
-
The $450M Offtake Deal Behind Emvolon’s $22M Raise
Inside This Issue 🏗️ Emvolon Raises $22 Million Funding Round to Launch Its Modular, Waste-to-fuel Chemical Plants 🔋 Terraton Turns Kenyan Nut Shells into Carbon Credits ⚡ Ballard Launches HPU Agi...
Company Announcements
-
Summary of Transaction: Minority shareholders of Tidewater Renewables will receive 0.88 common shares of Tidewater Midstream for each common share of Tidewater Renewables held Supported by holder...
-
HDF Energy Selects Topsoe for 250 MW Power Plant in Texas
HDF Energy's BaseBlue Power™ plant solution will use Topsoe's SynCOR™ technology to produce hydrogen from natural gas, capture CO ? and power fuel cells to deliver firm, low-carbon electricity to d...
-
Independent laboratory results advance first commercial waste-to-methanol module toward Portugal deployment November 02, 2026 08:00 ET | Source: HyOrc Corporation HOUSTON, Nov. 02, 2026 (GLOBE NE...
-
Confirmation of the Lawson Conduit and newly interpreted four-way structural closure near Lawson 4, combined with reprocessing of proprietary 3D seismic data through integration of rich new dataset...