BEBloom Energy Corporation

Bloom Energy makes fuel cells that generate electricity on site — without a grid connection.

The unit runs on natural gas or hydrogen and generates electricity electrochemically, without combustion. Its main advantage today is not environmental but temporal: a grid connection in the United States takes years, while on-site generation is installed in months.

That is what made the company prominent: AI data centres need capacity faster than the grid can supply it and will pay for autonomy. The demand arose from an infrastructure constraint rather than from a climate agenda.

The economics are not yet settled: unit costs are high, many projects depend on tax credits, and profitability is not achieved in every quarter. This is a bet on execution and on incentives surviving rather than on current results. The company pays no dividend.