Tran Capital said Bloom Energy aided its Midcap Equity Strategy’s Q2 2026 performance, citing on-site fuel cells for AI power needs and an Oracle deal for up to 2.8 gigawatts; 1.2 gigawatts was initially contracted and deploying.
Tran Capital said grid interconnection queues can stretch for years, while Bloom’s systems can provide on-site power in months. The firm said it believes the fuel cells are now cost-competitive with gas generation.
The strategy returned 16.9% net in Q2, compared with 11.1% for the Bloomberg U.S. Mid Cap Index; year-to-date returns were 12.3% and 12.1%, respectively. The letter said Bloom’s Q1 2026 revenue more than doubled year over year, the company swung to GAAP profitability and management raised full-year guidance to roughly 80% growth at the midpoint.
