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Year 2022 saw fuel cell shipments creep up over 2021 numbers, though the latter was a remarkable year. When 2021 exceeded 2020’s MW numbers by over 70%, we thought we were finally seeing the uptick that had been anticipated – the classic “hockey stick” pattern. But the structure of the industry – and its reliance on only a few players for the majority of shipments – means that growth comes in spurts.
