Zhongjin: SOFC fuel cell system may become a new solution for powering data centers.

The research report of CITIC Securities Company stated that recently at Bloom Energy's 2025 second quarter performance meeting, the company announced that they will deploy on-site fuel cell systems for data center power supply at some of Oracle's data centers in the United States. Prior to this, the company had reached agreements with Equinix, American Electric Power Company, and a quantum computing company. So far, Bloom Energy has deployed over 400MW of power for data centers worldwide. CITIC Securities Company believes that solid oxide fuel cell (SOFC) systems may become a new solution for data center power supply. It is expected that the annual average installed capacity of SOFC in North American data centers from 2026 to 2030 may reach 0.5GW to 1.25GW. SOFC has strong fuel adaptability, environmental friendliness, and flexible deployment, therefore it also shows application potential in stationary power generation, household micro combined heat and power, transportation, and portable fields. Currently, the application bottleneck of SOFC data centers still lies in economics.