Fuel Cell Market is Growing

The-Fuel-Cell-Industry-Review-2015November 2015 saw the publication of the Fuel Cell Industry Review 2015, including market data and analyses for 2015. Since 2014, a team led by E4tech had contacted fuel cell companies around the globe, aggregated their supply figures and can now show the latest trends in the industry, much as Fuel Cell Today had done before its survey came to a halt. The following will present some excerpts from the review.

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H2IntraDrive – Testing Industrial Fuel Cell Trucks

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Quick H2 refill, © Linde MH

The presentation of the results of the H2IntraDrive project was not a sales event or press conference – it was both. On Nov. 23, 2015, the project partners as well as representatives of prospective new partners and some reporters gathered in the BMW factory in Leipzig to take a look at the results of two years of development. The important thing to take away from the event was:

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Plug Power: Unshakable growth

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Forklift trucks near Prelodis in France, © Plug Power

Whichever enterprise figure is in the focus of the stock market, it will become the basis for share price development: With around US$ 31.5 million in the third quarter, Plug did deliver the expected turnover revenue, but had to continue posting a loss that the stock market took as a negative sign (expressed in US cents per share).

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Plug Power takes over HyPulsion

The HyPulsion joint venture has now been owned in full by Plug Power since August 2015. As announced by the American (USA) company on July 27th 2015, it has acquired all of the shares in its former partner Axane, a subsidiary of the gases company Air Liquide. The New York-based manufacturer of fuel cells paid US-$ 11.5 m. for 80 % of the shares. In 2012, Plug Power and Axane joined forces to form HyPulsion, primarily with the goal of kick-starting the market for fuel cell forklift trucks. Andy Marsh, managing director of Plug Power, made the following comments: “We are now moving ahead with optimism to extend our presence in the European materials handling market. […] I am pleased that our collaboration with Air Liquide for the further development of the hydrogen sector in Europe is continuing.”

Fuel Cell Forklift Trucks Undergoing Testing

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(Source: Daimler)

Mercedes-Benz doesn’t only sell vehicles powered by hydrogen fuel cells; it also uses them at its production facilities. Since the start of June 2015, the firm’s transporter plant in Düsseldorf has been operating two forklift trucks which are powered by hydrogen fuel cell. The forklift trucks were manufactured by Linde Material Handling and are supplied on location at a mobile H2 filling station provided by Air Products. One of the goals of the project, which will

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Plug Power: Such stuff as dreams are made on

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The NASDAQ tower with Plug Power advertising (Source: Plug Power)

At first glance, the figures for the first quarter of 2015 turned out to be disappointing: a loss of US$11.1m. with a turnover of US$9.4m. (+ 69% compared with the same quarter in the previous year). However, Plug Power  (PLUG, US$2.65) has also succeeded in generating an orders backlog of US$160m. (US$46m. in the 1st quarter, goal for this year: US$200m.). 265 GenDrive systems have been accounted for, while the accounting for a further 419 has been delayed to the second quarter. One H2 filling station has been accounted for while seven are to begin their duties in the second quarter (2014: 10 H2 filling station installation, there are to be more than 15 in 2015). As stated by the executive team during the telephone conference, the turnover is set to

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