Fuel Cells

Hydrogen fuel cells at a glance

Fuel cells create electricity chemically, rather than by combustion, and are therefore not subject to the thermodynamic laws (based on the Carnot cycle), which limits the efficiency of conventional power plants [Smart Green Cities, 2016].

They can be employed in a variety of applications such as i) stationary power generation (for FTM & BTM applications), ii) transportation (trucks, inter-city buses, rails, and vessels), iii) material handling (forklifts), and iv) portable power supply.

Fuel cell electric trucks (e-trucks) have clear advantages over battery powered e-trucks, as they i) operate over a longer range, ii) refuel quickly, ensuring continuous operation of the transport service (generating revenue for the fleet operator), and iii) maximize payload due to its higher energy density [Ballard, 2022].

Figure 1 shows some of the largest H2 fuel cell companies by market capitalization.

Figure 1: Largest hydrogen fuel cell companies by market cap