California Resources and Carbon TerraVault signed a non-binding MoU with Bloom Energy to jointly evaluate developing 1 gigawatt or more of solid-oxide fuel cell power generation paired with carbon capture and permanent storage in California.

  • The contemplated projects, focused on Central and Northern California, could make up to 3 million metric tons of CO₂ per year available for capture and storage.
  • The companies are evaluating both front-of-the-meter projects that could supply the grid and behind-the-meter installations for on-site use.
  • The collaboration aligns with Bloom’s push into high-demand segments such as data centers and AI infrastructure, where power demand is rising.

Shares of Bloom Energy (BE) rose 4% after hours on Monday after California Resources Corporation (CRC) announced a strategic collaboration with the fuel-cell maker.

California Resources and its carbon management unit, Carbon TerraVault, signed a non-binding memorandum of understanding with Bloom Energy to jointly evaluate developing 1 gigawatt or more of solid-oxide fuel cell power generation paired with carbon capture and permanent storage in California. The contemplated projects, focused on Central and Northern California, could make up to 3 million metric tons of CO₂ per year available for capture and storage, California Resources said. The agreement is subject to definitive contracts, final investment decisions, permits, and other regulatory approvals.

The effort would combine Bloom’s fuel-cell technology with Carbon TerraVault’s CO₂ transportation and storage capabilities. The companies are evaluating both front-of-the-meter projects that could supply the grid and behind-the-meter installations for on-site use. Potential customers include utilities, community choice aggregators, municipalities, data centers, and industrial customers, the company said.

AI And Data-Center Demand Aid BE Rally

The collaboration aligns with Bloom’s push into high-demand segments such as data centers and AI infrastructure, where power demand is rising.  Pairing its systems with carbon capture may also increase the appeal to customers facing decarbonization requirements.

Bloom Energy has already secured several major partnerships in 2026 focused on AI data centers. It expanded its deal with Oracle (ORCL) to supply up to 2.8 GW of fuel-cell capacity, including a large deployment at the Project Jupiter campus, and raised its financing framework with Brookfield from $5 billion to $25 billion to fund AI power projects. The company also recently broadened its collaboration with MiTAC for an on-site microgrid at a Fremont server campus.

How Did BE Retail Traders React?

On Stocktwits, retail sentiment around BE stock fell from ‘bullish’ to ‘neutral’ territory over the past 24 hours, while message volume stayed at ‘normal’ levels.

A Stocktwits user noted that power demand will stay strong with AI development.

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Another voiced optimism for more collaborations, including with Next Energy.

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A third user expressed optimism for the tech selloff leading to investments in players like Bloom Energy.

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BE stock has gained 126% year-to-date. 

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