By Michael Dabaie

Duke Energy Corp. (DUK) said it would acquire a portfolio of distributed fuel cell technology projects from Bloom Energy Corp. (BE).

Bloom Energy shares were up 14% to $14 premarket.

Duke will purchase about 37 megawatts of Bloom Energy Servers and has secured long-term power purchase agreements with customers mostly in California, Connecticut, Maryland and New York. Bloom Energy Servers produce energy by converting natural gas or biogas into electricity without combustion.

Over the next 18 months, the companies will deploy the servers at more than 30 sites for customers including hospitals, technology companies, data centers and universities.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

July 01, 2019 09:25 ET (13:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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