01:56 PM EST, 11/15/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Bloom Energy ( BE ) shares were up over 52% in recent trading Friday after the company signed an agreement to supply American Electric Power ( AEP ) up to 1 gigawatt of its fuel cells.

Financial terms were not disclosed.

As part of the deal, American Electric Power ( AEP ) has already placed an order for 100 megawatts of fuel cells and plans to order more in 2025, the companies said.

The initial installation of the fuel cells will help meet the power needs of AI data centers. The fuel cells can run on 100% hydrogen or any blend with natural gas, Bloom said.

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