Bloom Energy Lands $2.65B Fuel Cell Deal
Bloom Energy has signed a 20-year offtake agreement with a subsidiary of American Electric Power to supply solid oxide fuel cells valued at $2.65 billion. The company also announced a new partnership with Brookfield Asset Management focused on delivering on-site power solutions for AI data centers worldwide, reflecting rising demand for reliable, non-grid power.
GM Shares Jump After EV Write-Down, Strong Cash Flow
General Motors shares surged nearly 9%, adding more than $7 billion in market value after the automaker reported earnings. While GM disclosed a $7.6 billion write-down tied to its electric vehicle strategy, investors reacted positively to strong cash generation, increased shareholder payouts, and a confident 2026 outlook.
Colorado Targets Heat Pumps for Low-Income Households
A Colorado council of local governments plans to invest $200 million in federal clean energy funding to expand access to electric heat pumps and efficiency upgrades for low-income residents, aiming to reduce utility costs and cut emissions.
ConocoPhillips Presses Ahead on Alaska Drilling
ConocoPhillips said it will continue oil and gas exploration drilling on Alaska’s North Slope, even after a contractor’s rig toppled in one of its fields. The company indicated the incident would not alter its longer-term development plans in the region.
World Energy Developments
Ukraine Faces Severe Energy Strain
A senior Ukrainian lawmaker warned that plunging temperatures and a heavily damaged energy infrastructure, battered by Russian attacks, will make the coming weeks particularly difficult for millions lacking reliable heat and electricity.
Kazakhstan Oil Output Recovery Slows
Kazakhstan’s Tengiz oilfield, the country’s largest, is expected to restore less than half of normal production by February 7, as recovery continues following a fire and power outage, according to sources cited by Reuters.
Canada EV Imports Raise Industry Concerns
General Motors CEO Mary Barra said Canada’s decision to allow imports of up to 49,000 Chinese-built EVs annually poses a risk to North American auto manufacturing, highlighting growing trade and industrial policy tensions.
China Launches New Electric Pickup
Chinese automaker Chery has launched its first battery-electric pickup truck under the Rely brand, with prices starting at 127,800 yuan (about $18,300) and topping out at 158,800 yuan for higher trims.