New York, Jan 12, 2026, 19:21 EST — After-hours
- Bloom Energy shares ended the day up 2.1% but dipped 0.1% in after-hours trading following a sharp intraday swing.
- Traders remain fixated on a utility-scale fuel-cell project linked to American Electric Power’s Wyoming initiative.
- Next up: details on the unnamed offtake customer and when Bloom will release its next earnings report.
Shares of Bloom Energy Corp (BE) climbed 2.1% to $136.87 during Monday’s regular session, after fluctuating between $128.45 and $138.17. In after-hours trading, the stock slipped 0.1% to $136.72. About 12.3 million shares changed hands on the day. (StockAnalysis)
The latest shift is significant since Bloom now stands in for a broader wager: the pace at which the U.S. power grid can supply new data centers without multi-year upgrades. Investors have rushed to back anything resembling “firm” power — electricity available on demand, not just when the wind blows or the sun shines.
Bloom sells solid oxide fuel cells, devices that produce electricity via an electrochemical process instead of combustion. Supporters say the product is timely: data centers demand speed, reliability, and on-site solutions, even though natural gas often remains the primary fuel source.
American Electric Power set the stage earlier this month when it revealed in an SEC filing that an unregulated subsidiary signed an unconditional purchase agreement for a large chunk of its option on solid oxide fuel cells. The deal, worth roughly $2.65 billion, is linked to a planned generation project near Cheyenne, Wyoming. (SEC)
The filing also revealed that AEP secured a 20-year offtake agreement — a deal to purchase the plant’s entire output — with a “high investment grade” third-party customer. AEP expects to meet the conditions tied to this contract by the second quarter of 2026. If those conditions aren’t fulfilled, AEP will receive compensation for capital and costs. (SEC)
Fuel-cell stocks showed a mixed picture. Plug Power edged up roughly 3.9%, while FuelCell Energy dipped around 0.4%. Ballard Power added about 1.1%. GE Vernova, the power equipment maker, rose close to 2.8%.
Bloom’s upside is clear: larger utility-scale orders combined with growth in data-center clients might elevate a niche product to mainstream status. Still, the stock already reflects high execution expectations, and the journey so far has been anything but smooth.
The biggest risk lies in slipping timelines and conditions on major projects, particularly when a facility relies on end-customers, permitting, and construction sequencing. Even a slight delay, cost surge, or constraints on Bloom’s ability to build and deliver units could send the shares tumbling as fast as they climbed.
Heading into Tuesday, traders are keen to see if any fresh details link the Wyoming project to a defined end-customer, and which milestones lie between now and the Q2 2026 condition window. They’ll also be watching to see if the stock’s heavy volume starts to ease up or shifts into profit-taking territory.
Bloom’s events calendar doesn’t show an upcoming earnings date yet. Nasdaq and Zacks put Feb. 26 as the estimated next report date, which, if it holds, would probably be the next big catalyst. (Bloomenergy)
