2010 Fuel Cell Technologies Market Report
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2010 FUEL CELL TECHNOLOGIES MARKET REPORT JUNE 2011 Authors This report was a collaborative effort by staff of the Breakthrough Technologies Institute, Inc., in Washington, DC. Acknowledgement The authors relied upon the hard work and valuable contributions of many men and women in government and in the fuel cell industry. The authors especially wish to thank Sunita Satyapal, Nancy Garland and the staff of the U.S. Department of Energy’s Fuel Cell Technologies Program for their support and guidance in the preparation of this report. The authors also wish to thank Lisa Callaghan- Jerram of Pike Research and Rachel Gelman of the National Renewable Energy Laboratory, and the many others who made this report possible. i Contents List of Figures ............................................................................................................................................... iv List of Tables ................................................................................................................................................ iv List of Acronyms ............................................................................................................................................ v Introduction .................................................................................................................................................. 1 Financial Data ................................................................................................................................................ 4 Fuel Cell and Hydrogen Costs ................................................................................................................... 4 Revenues, Assets, and R&D Expenses....................................................................................................... 5 Venture Capital and Private Equity ............................................................................................................... 6 Shipments ..................................................................................................................................................... 8 Government Policy, Standards, and Regulation ......................................................................................... 11 Applications and Market Assessment ......................................................................................................... 13 Materials Handling .................................................................................................................................. 13 Back-up and Remote Power.................................................................................................................... 14 Stationary Power..................................................................................................................................... 15 Fuel Cell Vehicles .................................................................................................................................... 17 Hydrogen Infrastructure and Delivery ................................................................................................ 18 Fuel Cell Buses .................................................................................................................................... 20 Other Transportation Applications ..................................................................................................... 21 Energy Storage ........................................................................................................................................ 22 Military .................................................................................................................................................... 22 Portable/Micro ........................................................................................................................................ 24 Intellectual Property ............................................................................................................................... 24 Spotlight on Japan ....................................................................................................................................... 26 Residential ............................................................................................................................................... 27 Vehicles: Two Million FCEVs by 2025 ...................................................................................................... 28 Appendix 1: Select Company Profiles ........................................................................................................ 31 Public Companies .................................................................................................................................... 31 Ballard Power Systems Inc. ................................................................................................................. 31 Ceramic Fuel Cells Limited .................................................................................................................. 32 FuelCell Energy .................................................................................................................................... 33 Hydrogenics ........................................................................................................................................ 35 IdaTech ................................................................................................................................................ 36 ITM Power ........................................................................................................................................... 36 Panasonic ............................................................................................................................................ 37 Plug Power .......................................................................................................................................... 38 SFC Energy AG ..................................................................................................................................... 39 Toshiba ................................................................................................................................................ 40 UTC Power .......................................................................................................................................... 41 Private Companies .................................................................................................................................. 42 Adaptive Materials .............................................................................................................................. 42 Bloom Energy ...................................................................................................................................... 42 ii ClearEdge Power ................................................................................................................................. 43 Horizon Fuel Cell Technologies ........................................................................................................... 44 Intelligent Energy ................................................................................................................................ 45 Microcell ............................................................................................................................................. 45 NedStack ............................................................................................................................................. 46 Nuvera Fuel Cells ................................................................................................................................ 46 Oorja Protonics ................................................................................................................................... 47 Protonex .............................................................................................................................................. 47 ReliOn .................................................................................................................................................. 48 Trenergi ............................................................................................................................................... 49 UltraCell .............................................................................................................................................. 49 Automotive Companies .......................................................................................................................... 50 Daimler AG .......................................................................................................................................... 50 General Motors ................................................................................................................................... 51 Honda .................................................................................................................................................. 52 Hyundai ............................................................................................................................................... 53 Toyota ................................................................................................................................................. 53 Appendix 2: Examples Fuel Cell Vehicles from Major