Brookfield and Bloom Energy Announce $5 Billion Strategic AI Infrastructure Partnership

• $5 billion partnership launches first phase of joint AI infrastructure vision
• Bloom Energy to become preferred onsite power provider for Brookfield's global AI factories
• The partnership marks Brookfield's first investment through its dedicated AI Infrastructure strategy

Bloom Energy (NYSE:BE), a global leader in power solutions, and Brookfield today announced a $5 billion strategic partnership to implement a reimagined future for AI infrastructure. This partnership marks the first phase of a joint vision to build AI factories capable of meeting the growing compute and power demands of artificial intelligence.

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AI factories require infrastructure that tightly integrates compute, power, data center architecture, and capital. Bloom Energy's fuel cells deliver reliable, scalable and clean onsite power that can be rapidly deployed without legacy grids. Brookfield brings world-class expertise in infrastructure development and financing. Together, the two companies are redefining how AI factories are built and powered.

At the center of the new partnership, Brookfield will invest up to $5 billion to deploy Bloom's advanced fuel cell technology. The two companies are actively collaborating on the design and delivery of AI factories globally, including a site in Europe that will be announced before the end of the year.

"AI infrastructure must be built like a factory—with purpose, speed, and scale," said KR Sridhar, Founder, Chairman and CEO of Bloom Energy. "Unlike traditional factories, AI factories demand massive power, rapid deployment and real-time load responsiveness that legacy grids cannot support. The lean AI factory is achieved with power, infrastructure, and compute designed in sync from day one. That principle guides our collaboration with Brookfield to reimagine the data center of the future. Together, we are creating a new blueprint for powering AI at scale."

"Behind-the-meter power solutions are essential to closing the grid gap for AI factories," said Sikander Rashid, Global Head of AI Infrastructure at Brookfield. "Bloom's advanced fuel cell technology gives us the unique capability to design and construct modern AI factories with a holistic and innovative approach to power needs. As the world's largest AI infrastructure investor, this partnership adds a powerful new tool to our global growth strategy, especially in a grid-constrained market environment."

Over the next decade, foundational models and generative AI are expected to drive ongoing demand for power. According to experts, power demand from AI data centers in the United States is expected to grow exponentially and surpass 100 gigawatts by 2035. Fuel cells have become a key solution for this issue and the partnership between Bloom Energy and Brookfield is designed to address this supply gap.

Bloom Energy has already deployed hundreds of megawatts of its fuel cell technology to data centers, powering some of the world's most critical digital infrastructure through partnerships with American Electric Power (AEP), Equinix, and Oracle.

This partnership will form Brookfield's first investment in its dedicated AI Infrastructure strategy focused on investing in large AI factories, power solutions, compute infrastructure, and strategic capital partnerships. The strategy builds on Brookfield's track record of over $100 billion invested in digital infrastructure globally.

Brookfield has over $550 billion of critical assets and services operating across the U.S. Today's announcement follows recent investments in leading U.S. energy, utility and digital infrastructure businesses including Compass Datacenters, Duke Energy Florida, Colonial Enterprises and Hotwire Communications, as well as a landmark agreement to supply Google with up to 3GW of hydro power in the U.S.

About Brookfield

Brookfield Asset Management (NYSE:BAM, TSX:BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management. Brookfield invests client capital for the long term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

About Bloom Energy

Bloom Energy empowers enterprises to meet soaring energy demands and responsibly take charge of their power needs. The company's fuel cell system provides ultra-resilient, highly scalable onsite electricity generation for Fortune 500 companies around the world, including data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors. Headquartered in Silicon Valley, Bloom Energy has deployed 1.5 GW of low-carbon power across more than 1,200 installations globally. For more information, visit BloomEnergy.com.

Forward Looking Statements (Bloom Energy)

This press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or the negative of these words or similar terms or expressions that concern Bloom's expectations, strategy, priorities, plans or intentions. These forward-looking statements include, but are not limited to, plans and expectations regarding the partnership with Brookfield including the design and development of AI factories and the expected European site expectations regarding the growth of onsite power generation and distributed and behind the meter power and the pace of deployment, the reliability, scalability and cost efficiency of fuel cells and the demand for AI data centers and resulting power needs. The readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, but not limited to, risks and uncertainties detailed in Bloom's SEC filings. More information on potential risks and uncertainties that may impact Bloom's business are set forth in Bloom's periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025, as well as subsequent reports filed with or furnished to the SEC. Bloom assumes no obligation to, and does not intend to, update any such forward-looking statements.

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For Bloom Energy

Media – Katja Gagen ([email protected])

Investors – Michael Tierney ([email protected])

For Brookfield

John Hamlin ([email protected])