Why Bloom Energy's Shares Popped 34.3% Today

Shares of Bloom Energy (NYSE: BE) jumped as much as 34.3% in trading Tuesday after announcing a huge partnership with Samsung Heavy Industries. Shares are still up 31% as I'm writing at 2:20 p.m. EDT.

Bloom Energy and Samsung Heavy Industries have signed a joint development agreement to create fuel cell-powered ships. The companies hope to present the design to customers in 2022. This could be a 300-megawatt (MW) market annually for Bloom Energy, which is major considering the fact that the company had 380 MW of deployments between its founding in 2001 and the end of 2019.

Image source: Bloom Energy.

Source Fool.com