Shares of Bloom Energy (NYSE: BE) rallied 28.2% in March, according to data from S&P Global Market Intelligence.

The fuel cell and electrolyzer manufacturer sold off hard after its fourth-quarter earnings report in February, so the stock was perhaps primed for a rebound on any good news. The announcement of a major collaboration on hydrogen technology with a prominent oil and gas giant, along with analyst upgrades, was just the thing.

On March 6, Bloom announced a large, wide-ranging collaboration with oil and gas giant Shell plc (NYSE: SHEL). According to the press release, the two companies will collaborate on studying how to build and deploy "replicable, large-scale, solid oxide electrolyzer (SOEC) systems that would produce hydrogen for potential use at Shell assets."

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Source Fool.com