California Resources Corporation Announces Strategic Collaboration with Bloom Energy to Advance Decarbonized Power Across California
Key Highlights
- ➤CRC and Bloom signed an MOU targeting 1 GW or more of California fuel-cell power generation.
- ➤Potential projects could capture and permanently store up to 3 million metric tons of CO2 annually.
- ➤Projects may serve utilities, municipalities, data centers and industrial users through FTM and BTM power.
- ➤MOU projects require definitive agreements, final investment decisions, EPA Class VI permits and other approvals.
Expert Statements
Francisco Leon, President and Chief Executive Officer of California Resources Corporation
“California needs more clean, firm, reliable, and affordable power generated here at home. We are uniquely positioned with land, vast subsurface storage and CO2 transportation and storage expertise”
Francisco Leon, President and Chief Executive Officer of California Resources Corporation
“When combined with Bloom’s non-combustion technology with highly efficient carbon capture, we are positioned to deliver clean and affordable energy to power data centers and the grid at scale. This has the potential to significantly expand the value proposition for Carbon TerraVault's storage business and CRC’s integrated strategy.”
Aman Joshi, Chief Commercial Officer of Bloom Energy
“Our non-combustion technology makes carbon capture more efficient and economically viable at scale, opening a new path to carbon-neutral power generation and addressing the decarbonization needs of large critical infrastructure.”
LONG BEACH, Calif., Nov. 02, 2026 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC), and its carbon management business, Carbon TerraVault (CTV), today announced the signing of a memorandum of understanding¹ (MOU) with Bloom Energy (NYSE: BE) (Bloom), to jointly evaluate and target the potential development of 1 gigawatt (GW) or more of solid-oxide fuel cell power generation paired with carbon capture and storage in California.
"California needs more clean, firm, reliable, and affordable power generated here at home. We are uniquely positioned with land, vast subsurface storage and CO(2) transportation and storage expertise," said Francisco Leon, CRC's President and Chief Executive Officer. "When combined with Bloom’s non-combustion technology with highly efficient carbon capture, we are positioned to deliver clean and affordable energy to power data centers and the grid at scale. This has the potential to significantly expand the value proposition for Carbon TerraVault's storage business and CRC’s integrated strategy."
Get started
Create a free account to read the full story.