Rystad forecasts $30B fuel cell investments from US AI centers
AI data centers in the US are creating a surge in demand for fuel cells, the tech that generates electricity using chemical reactions.
With power grids getting stretched, these centers need reliable on-site power, and fuel cells fit the bill.
According to Rystad Energy, investments in this space could leap from $2.8 billion in 2025 to $30 billion by 2030.
Bloom Energy Q3 revenue $1.24B
Fuel cells can complement grid power for years, making them super appealing for data center operators.
Companies like Bloom Energy and FuelCell Energy are seeing their order books fill up: Rystad estimates the industry's order book at roughly 9 GW, including framework agreements involving Oracle, AEP, Equinix, and Brookfield.
Bloom's third-quarter revenue surged 138% to $1.24 billion, while FuelCell expects data centers will soon make up most of its business, way up from where it is now.