Fuel Cell Technologies
Market Report 2014
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FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Authors
This report was compiled and written by Sandra Curtin and Jennifer Gangi of the Fuel Cell and Hydrogen Energy
Association, in Washington, D.C.
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 and the staff of the U.S. Department of
Energy’s Fuel Cell Technologies Ofce for their support and guidance. Also thanks to Philipp Beiter, Tian Tian,
and Jeff Logan of the National Renewable Energy Laboratory, and David Hart and Franz Lehner of E4Tech.
Notice
This report is being disseminated by the Department of Energy. As such, this document was prepared in compli-
ance with Section 515 of the Treasury and General Government Appropriations Act for Fiscal Year 2001 (Public
Law 106-554) and information quality guidelines issued by the Department of Energy.
Neither the United States government nor any agency thereof, nor any of their employees, makes any warranty,
express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness
of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately
owned rights. Reference herein to any specic commercial product, process, or service by trade name, trademark,
manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring
by the United States government or any agency thereof.
Cover Image
Cal State L.A. Hydrogen Research and Fueling Facility in Los Angeles, California. The station was formally
opened on May 7, 2014 and is the largest University located hydrogen fueling facility in the nation. Image cour-
tesy of California Fuel Cell Partnership.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
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List of Acronyms
AFCB American Fuel Cell Bus
APU Auxiliary power unit
ARFVTP California’s Alternative and Renewable Fuel and Vehicle Technology Program
ARPA-E Advanced Research Projects Agency – Energy (DOE)
CEC California Energy Commission
CHP Combined heat and power
CTE Center for Transportation and the Environment
DMFC Direct methanol fuel cell
CO2 Carbon dioxide
DOE U.S. Department of Energy
DOT U.S. Department of Transportation
EERE Ofce of Energy Efciency and Renewable Energy (DOE)
FCEV Fuel cell electric vehicle
FCTO Fuel Cell Technologies Ofce (DOE)
FTA U.S. Federal Transit Administration
HNEI Hawaii Natural Energy Institute
IP Intellectual property
IPO Initial public offering
kg Kilogram
km Kilometer
km/h Kilometers per hour
kW Kilowatt
kWh Kilowatt-hour
MARAD U.S. Maritime Administration
MCFC Molten carbonate fuel cell
m-CHP Micro-combined heat and power
MEA Membrane electrode assembly
METI Japan’s Ministry of Economy, Trade and Industry
MHE Material handling equipment
mph miles per hour
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FUEL CELL TECHNOLOGIES MARKET REPORT 2014
MoU Memorandum of Understanding
MPa Megapascal
MW Megawatt
NFCBP National Fuel Cell Bus Program
NREL National Renewable Energy Laboratory
OEM Original equipment manufacturer
OTC Over-the-counter
PAFC Phosphoric acid fuel cell
PE Private equity
PEM Proton exchange membrane
PIPE Private in public equities
R&D Research and development
RD&D Research, development and demonstration
REBELS ARPA-E’s Reliable Electricity Based on ELectrochemical Systems
SBIR/STTR Small Business Innovation Research/Small Business Technology Transfer
SOFC Solid oxide fuel cell
UAV Unmanned Aerial Vehicle
VC Venture capital
W Watt
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
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Table of Contents
List of Acronyms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ii
Table of Contents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iv
List of Figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi
List of Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi
Currency Exchange Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . viii
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Business and Financial Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Business Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Revenues, Assets, and R&D Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Raising Capital/Equity Oerings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Intellectual Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Shipments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Government Policies, Activities, and Funding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
State Policies and Funding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
International Policies and Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Applications and Market Assessment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21
Light Duty Vehicles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Buses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Material Handling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26
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FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Other Transport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28
Hydrogen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
Hydrogen Infrastructure Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
Hydrogen Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
Power-to-Gas/Hydrogen Energy Storage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37
Hydrogen Regulations/Codes and Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39
Hydrogen Technology Advancements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Stationary Power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Prime Power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42
Micro Combined Heat and Power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Backup and Remote Power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .47
Micro Fuel Cells . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52
Military . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52
Materials/Components/Testing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .53
University News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .53
Reports and Studies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .54
Appendix 1: Compilation of Companies in this Report with Commercially Available Fuel Cell Products. . . . . . . .56
Endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .58
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
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List of Figures
Figure 1. Worldwide Venture Capital, Private Equity, Over-the-Counter, and Private Investment in Public Equities
Investments in Fuel Cell Companies (2012-2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Figure 2. U.S. Venture Capital, Private Equity, Over-the-Counter, and Private Investment in Public Equities
Investments in Fuel Cell Companies (2012-2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Figure 3. Top 10 Fuel Cell Energy Patent Assignees (2002-2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Figure 4. Fuel Cell Patents Geographic Distribution (2002-2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Figure 5. Fuel Cell System Revenue by Region of Manufacture. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Figure 6. Fuel Cell Systems Shipped Worldwide by Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Figure 7. Megawatts of Fuel Cells Shipped Worldwide by Application . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Figure 8. Megawatts of fuel Cells Shipped Worldwide by Region of Manufacture. . . . . . . . . . . . . . . . . . . . .14
List of Tables
Table 1. 2014 Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars . . . . . . . . . . . . . . viii
Table 2. Gross Revenue and Cost of Revenue for Select Public Fuel Cell Companies . . . . . . . . . . . . . . . . . . . 5
Table 3. R&D Expenditures for Select Public Fuel Cell Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Table 4. Total Assets and Liabilities for Select Public Fuel Cell Companies . . . . . . . . . . . . . . . . . . . . . . . . . 7
Table 5. Disclosed Top Venture Capital and Private Equity Investors in Fuel Cells, By Company and By Country
(2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Table 6. Top Ten Venture Capital and Private Equity Investors in Fuel Cells, By Company and By Country,
Cumulative 1/1/2000-12/31/2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Table 7. U.S. Department of Energy (DOE) 2014 Funding Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Table 8. DOE’s Advanced Research Projects Agency-Energy’s (ARPA-E) Reliable Electricity Based on
ELectrochemical Systems (REBELS) 2014 Funding Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Table 9. State Funding for Fuel Cells and Hydrogen 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Table 10. Overview of International Policies and Funding for Fuel Cells and Hydrogen 2014 . . . . . . . . . . . . . . 21
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FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Table 11. Examples of Commercially Available Fuel Cells for Transportation 2014 . . . . . . . . . . . . . . . . . . . . .23
Table 12. Ballard Power Systems’ Bus Orders and Deliveries in 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Table 13. Notable Plug Power 2014 GenDrive® Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26
Table 14. Examples of Commercially Available Fuel Cells for Material Handling 2014 . . . . . . . . . . . . . . . . . . .28
Table 15. California Energy Commission’s Alternative and Renewable Fuel and Vehicle Technology Program
Proceedings (ARFVTP) Funding Awards for New Public Hydrogen Refueling Stations. . . . . . . . . . . . . . . . . 30
Table 16. New, Planned and Upgraded Hydrogen Fueling Stations 2014 . . . . . . . . . . . . . . . . . . . . . . . . . .32
Table 17. Examples of Commercially Available Hydrogen Fueling Stations 2014 . . . . . . . . . . . . . . . . . . . . . .35
Table 18. Examples of Commercially Available Hydrogen Generation Systems 2014 . . . . . . . . . . . . . . . . . . .36
Table 19. Power-to-Gas/Hydrogen Energy Storage Projects Announced in 2014 . . . . . . . . . . . . . . . . . . . . .38
Table 20. Examples of Commercially Available Stationary Fuel Cells 2014 . . . . . . . . . . . . . . . . . . . . . . . . . 41
Table 21. Summary of FuelCell Energy Projects 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42
Table 22. Summary of Bloom Energy Projects 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
Table 23. Summary of Ballard/Dantherm Projects 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .48
Table 24. Examples of Commercially Available Backup and Remote Power Fuel Cells 2014. . . . . . . . . . . . . . 50
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
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Currency Exchange Rates
The U.S. Internal Revenue Service 2014 yearly average exchange rates were used to convert foreign currencies to
U.S. dollars using the following rates. If unspecied, amounts are reported in U.S. dollars.
Table 1. 2014 Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
2014 Average Exchange Rates
Country Currency Abbreviation/Symbol Rate
Australia Dollar AU$ 1.154
Canada Dollar CA$ 1.149
Euro Zone Euro € 0.784
Japan Yen ¥ 110.101
Sweden Krona kr 7.138
United Kingdom Pound £ 0.632
Source: U.S. Internal Revenue Service
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FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Introduction
Fuel cells are devices that electrochemically combine hydrogen and
oxygen to produce electricity, water, and heat. Unlike batteries, fuel cells
continuously generate electricity as long as a source of fuel is supplied.
Fuel cells do not burn fuel, making the process quiet, pollution-free, and
two to three times more efcient than combustion. A fuel cell system can
be a truly zero-emission source of electricity when hydrogen is produced
from nonpolluting sources.
There are three main markets for fuel cell technology: stationary power,
transportation, and portable power. Stationary power includes any
application in which the fuel cells are operated at a xed location for
primary power, backup power, or combined heat and power (CHP).
Transportation applications include motive power for passenger cars,
buses and other fuel cell electric vehicles (FCEVs), specialty vehicles,
material handling equipment (MHE), and auxiliary power units (APUs)
for off-road vehicles. Portable power applications include fuel cells that
are not permanently installed or fuel cells in a portable device.
There are many types of fuel cells currently in operation in a wide range
of applications, including molten carbonate fuel cells (MCFC), solid
oxide fuel cells (SOFC), phosphoric acid fuel cells (PAFC), direct metha-
nol fuel cells (DMFC) and low and high temperature proton exchange
membrane (PEM) fuel cells.
In 2014, the fuel cell industry grew by almost $1 billion, reaching $2.2
billion in sales, up from $1.3 billion in 2013. Major increases were seen
in North America and Asia Pacic revenues, spurred by fuel cells for
material handling (U.S.) and large-scale stationary sales by U.S. compa-
nies and residential fuel cells in Japan.
A number of ongoing market trends continued in 2014, contributing to an
increase in shipments and revenue:
• State incentives drove large stationary deployments, primarily in
California and Connecticut, but other states in the Northeast have
begun to fund fuel cells as part of microgrids and other resiliency
efforts.
• Major corporations deployed fuel cells at retail, corporate, and
warehouse facilities, many in multiple locations. Municipalities are
following suit, installing fuel cells at facilities that provide critical
city and county services, such as administrative centers, jails, and
wastewater treatment plants.
• Japan and South Korea continued their strong support of fuel cell
technology. Customer sales of the Enefarm residential fuel cell sys-
tem surpassed 115,000 units in Japan in 2014, while Korean utilities
continued to construct larger and larger multi-megawatt (MW) fuel
cell power parks to generate grid power.
• Energy storage and Power-to-Gas (P2G) projects grew in Europe,
while Japan began exploring large-scale production of renewable
hydrogen from various sources.
Notable in 2014
The fuel cell Industry grew to $2.2
billion in 2014, up from $1.3 billion
in 2013.
More than 50,000 fuel cells were
shipped in 2014, totaling 180 MW.
Almost 10% of Fortune 500
companies now use fuel cells for
stationary or motive power genera-
tion. Of the top 100 companies on
the Fortune list, 25% use fuel cells.
These fuel cells are often deployed
in multiple locations, powering
forklifts, data centers, cell phone
towers, and corporate or retail
facilities.
More than 2,500 fuel cells for mate-
rial handling vehicles were ordered
or installed in 2014, bringing the
number of fuel cell-powered fork-
lifts in North America to more than
7,500 units, located at more than
60 warehouses and distribution
facilities in 20 states and Canada.
Commercial introduction of FCEVs
started in late 2014, when Hyundai
started leasing vehicles in southern
California and in a number of
countries around the world. Toyota
announced it will begin FCEV
sales in the U.S. in 2015 and Honda
claimed its FCEV sales will start in
2016.
More than 90 new, planned,
or upgraded hydrogen fueling
stations were announced
worldwide.
California’s Energy Commission
awarded $46.6 million for 28 new
public hydrogen stations and one
mobile hydrogen refueler. The
state will provide at least $20
million annually until an initial
network of 100 hydrogen stations
exists in California.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
2
FCEVs generated major headlines and excitement as automakers delivered FCEVs to customers in select loca-
tions around the world and unveiled new FCEV models and market introduction strategies. The United Kingdom
(U.K.), Germany, Japan, and California reafrmed both commitments and funding to accelerate development of
the hydrogen fueling infrastructure, as did Toyota, which announced plans to help to fund hydrogen fueling station
development in the United States (U.S.), in California and the Northeast.
The fuel cell industry also saw the formation of strategic alliances, business reorganizations and expansions, suc-
cessful capital raising efforts, and more fuel cell companies going public. There were company acquisitions from
within and outside of the fuel cell industry, including the acquisition of a fuel cell manufacturer by Hyster-Yale,
a major global MHE company, with plans to integrate fuel cells and hydrogen fueling across large parts of the
company’s MHE products.
Business and Financial Data
This section provides information regarding a range of activity regarding fuel cell and hydrogen company nan-
cials. It includes business activities – mergers and acquisitions, company expansions, joint ventures, industry
investment, memoranda of understanding (MOUs) and collaborations. It provides an overview and analysis of
venture capital, private equity, and other investment activity, including equity and stock offerings to raise capital,
and an overview of intellectual property and patent activity in 2014. This section also includes fuel cell company
revenues, cost of revenue, and other key data for selected publicly traded fuel cell companies that have fuel cells as
their primary business. The focus is on public companies because many private companies do not release nancial
information.
Business Activities
There were many business acquisitions in 2014 that allowed purchasers to expand their end-user markets and fuel
cell product offerings.
In April 2014, Latham, New York, fuel cell manufacturer Plug Power acquired the assets of ReliOn, Inc., a fuel cell
company based in Spokane, Washington.
1
Following the acquisition, Plug Power restructured to offer ReliOn, a
Plug Power company, as a product brand, and announced plans to integrate ReliOn’s fuel cell stack technology and
products into several models of its GenDrive fuel cell systems for the backup and grid-support power requirements
of the telecommunications, transportation, utility and government sectors. ReliOn will continue its operations in
Spokane as a Plug Power company.
2
In April, fuel cell manufacturer ClearEdge Power announced it intended to le for bankruptcy.
3
In June 2014,
South Korean company Doosan Co. Ltd. entered into an asset purchase agreement to acquire the assets of
ClearEdge Power, Inc. for $32.4 million.
4
Doosan also acquired FuelCellPower Co. Ltd., another South Korean
company which focuses on smaller fuel cells for residential applications. Following its acquisition of ClearEdge
Power and Fuel Cell Power, Doosan Corporation formed the Doosan Fuel Cell Group, and from that, Doosan Fuel
Cell America, Inc. Doosan resumed operations at ClearEdge’s South Windsor, Connecticut, facility, focusing
primarily on manufacturing 400-kilowatt (kW) stationary fuel cell systems.
Prior to the ClearEdge bankruptcy and subsequent Doosan acquisition, Connecticut-based United Technologies
Corporation (UTC), once the parent company of UTC Power (ClearEdge Power’s predecessor), entered into ar-
rangements with other fuel cell companies:
• In January 2014, UTC entered into a global licensing agreement with US Hybrid Corporation, located in
Torrance, California, to commercialize UTC’s PEM fuel cell technologies, focusing on the medium and heavy
duty commercial vehicle sectors.
5
US Hybrid formed US FuelCell Corporation, a new division, located at
the former UTC Power plant in Windsor, Connecticut, and the company has taken over all contracts previ-
ously awarded to UTC Corporation, including ones from the Federal Transit Administration (FTA) through its
National Fuel Cell Bus Program (NFCBP).
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FUEL CELL TECHNOLOGIES MARKET REPORT 2014
• In May 2014, UTC completed the sale of intellectual property (IP) assets related to its PEM transportation-
and stationary-related fuel cell technology, including approximately 800 patents and patent applications, to
Ballard Power Systems, a Canada-based fuel cell manufacturer. In exchange for the IP, UTC received 5.1
million Ballard common shares, $2 million in cash, a grant-back license to use the patent portfolio in UTC’s
existing businesses and a royalty on Ballard’s future IP licensing income generated from the combined IP
portfolio. The companies also formed a strategic alliance, led by a joint Advisory Council, to focus on
licensing and other commercial market opportunities arising from the combination of the UTC portfolio with
Ballard’s existing IP.
6
In February, U.K.-based Western Standard Energy Corp. acquired Dominovas Energy, LLC (California), renamed
the company Dominovas Energy Corporation and moved its headquarters to Atlanta, Georgia. The company manu-
factures the RUBICON® SOFC system.
7
Ballard Power Systems signed a denitive agreement for the sub-license of IP and engineering services with
M-Field Energy Corporation (Taiwan) for fuel cell material handling systems to be deployed in Europe.
8
The
agreement has a value of approximately $1 million. Ballard’s subsidiary, Dantherm Power entered into an agree-
ment with H2 Logic A/S (Denmark) for a complete transfer of H2 Logic’s H2Drive® material handling fuel cell
activities, mainly its collaboration with M-Field. H2 Logic will instead focus and expand efforts on its H2Station®
hydrogen refueling stations.
9
In May, the Michelin Group (France) undertook a signicant minority stake in Symbio FCell, a French fuel cell
manufacturer developing fuel cell range extenders currently being tested by major commercial eet operators,
including La Poste (the French post ofce).
10
In June, Heliocentris Energy Solutions AG (Germany) acquired FutureE Fuel Cell Solutions GmbH, a German
company focused on the telecommunications industry.
11
In October, WATT Fuel Cell Corp., a New York developer of SOFC components and systems, purchased
Pennsylvania-based tubular SOFC developer Pittsburgh Electric Engines, Inc. (PEEI), making PEEI a wholly
owned subsidiary of WATT. The company opened a new 15,000 square foot manufacturing plant in Pennsylvania
and seeks to transition to larger systems for residential power and small-scale distributed generation.
12
In December, Hyster-Yale Materials Handling, Inc.’s operating company, NACCO Materials Handling Group, Inc.
(Ohio) acquired Massachusetts-based Nuvera Fuel Cells, Inc.
13
NACCO intends to integrate Nuvera’s fuel cells
into its MHE vehicles, including its Hyster® and Yale® product line, as well as offer customers hydrogen genera-
tion and refueling equipment.
Hydrogen Future Corp. (Texas), previously known as A5 Laboratories Inc., completed the acquisition of Hydra
Fuel Cell Corporation (Oregon) from American Security Resources Corporation. Hydra has developed fuel cell
technology for residential and small commercial grid replacement for electric generation.
14
Several companies expanded their operations, opening new facilities or setting up establishing ofces outside their
home country:
• General Electric (GE) opened a fuel cell testing and research facility in Malta, New York, to focus on devel-
oping its SOFC technology. GE expects to begin commercial production of systems with capacities ranging
from 1 to 10 MW in 2017.
15
• Fuel cell manufacturer PowerCell (Sweden) expanded its international business operations into Korea and
Asia for its new generation S2 fuel cell stack.
16
• U.K. fuel cell company Ceres Power opened an ofce in the Kansai area of Japan to service commercial
activity and support further strategic opportunities in Asia.
17
• FuelCell Energy announced a two-stage expansion project that will increase the size of its manufacturing
facility in Torrington, Connecticut.
18
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
4
• In addition, a few companies faced signicant challenges.
• Vision Industries Corp., a California developer of zero emission electric/hydrogen hybrid powered vehicles
and turnkey hydrogen fueling systems, led for Chapter 11 bankruptcy protection. During the reorganization
process, Vision will continue to operate and work on ongoing government-supported programs and research
and development (R&D) projects.
19
• Lilliputian Systems, a Massachusetts Institute of Technology-spinout company that developed a butane-
powered fuel cell charger called Nectar, sold its physical and intellectual property assets and closed. In the
past, the company raised about $150 million in investment from a half-dozen venture capital rms, but was
unsuccessful in raising additional investment.
20
• Danish company Haldor Topsoe A/S announced its plan to close Topsoe Fuel Cell A/S, a subsidiary com-
pany focused on components and technology for high temperature SOFCs. Haldor Topsoe will focus on the
development of selected applications in solid oxide electrolysis cell development.
21
There were also several announcements of joint ventures, MOUs and collaborations during the year:
• Plug Power signed a non-binding MOU with Hyundai Hysco Co. Ltd. to create a joint venture partnership to
develop and sell hydrogen fuel cells in countries throughout Asia.
22
• Air Products joined with Nippon Steel & Sumkin Pipeline & Engineering Co. Ltd. to work together on
Japan’s developing hydrogen fueling infrastructure market and work towards nalizing a long-term marketing
and supply relationship agreement.
23
• Hydrogenics Corporation and Universiti Teknologi Malaysia entered into an MOU to focus on the develop-
ment of highly efcient PEM fuel cell integrated systems using hydrogen.
24
• Hydrogenics created a joint venture, Kolon Hydrogenics, with Kolon Water & Energy of South Korea to work
on renewable power generation projects in Asia. This contract includes both a fuel cell system and a 20-year
maintenance and service agreement.
25
• Oorja Fuel Cells and Los Alamos National Laboratory (LANL) entered into a licensing agreement allowing
Oorja Fuel Cells to deploy two key energy technologies developed by LANL aimed at improving power
density and reducing the cost of DMFC based power systems.
26
Revenues, Assets, and R&D Expenses
Fuel cell companies derive revenue from the sale of fuel cells and related equipment (such as hydrogen generators),
support and maintenance contracts, and contract research and development.
Tables 2 through 4 provide nancial data for select public companies. These companies were chosen because fuel
cells are their primary product, and because they are traded on major stock exchanges and thus must report detailed
data.
Table 2 shows gross revenue and cost of revenue for select fuel cell companies over the past three years. Gross
revenue is money generated by all of a company’s operations during a specic period, before deductions for
expenses. Cost of revenue is the total cost of manufacturing and delivering a product or service. It represents the
direct costs associated with the goods and services the company provides and includes costs outside of production,
such as distribution and marketing. Indirect costs, such as salaries, are not included.
5
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Table 2. Gross Revenue and Cost of Revenue for Select Public Fuel Cell Companies
Gross Revenue and Cost of Revenue for Select Public Fuel Cell Companies
(Thousands US$ except where noted)
Companies
2014 2013 2012
Gross
Revenue
Cost of
Revenue
Gross
Revenue
Cost of
Revenue
Gross
Revenue
Cost of
Revenue
Ballard Power Systems (Canada) 68,721 58,475 61,251 44,492 43,690 36,321
FuelCell Energy
1
(U.S.) 180,293 166,567 187,658 180,536 120,603 120,158
Hydrogenics Corp. (Canada) 45,548 34,334 42,413 30,352 31,697 26,448
Plug Power (U.S.) 64,230 69,092 26,601 37,849 26,108 40,463
Ceramic Fuel Cells, Ltd.
2, 3
(Australia) 6,102 24,540 4,266 21,544 6,717 27,228
Ceres Power
2, 4
(U.K.) 1,224 10,128 523 13,255 226 18,480
SFC Energy AG
5
(Germany) 53,631 37,970 32,413 22,4886 31,260 18,497
1
Year ends October 31
2
Year ends June 30
3
AU$ Thousands
4
£ Thousands
5
€ Thousands
6
Updated (audited) number
from SFC Energy’s 2014 Annual Report. Source: Annual reports and investor presentations
The following discussion provides additional details regarding revenue drivers for select companies in 2014.
Ballard Power Systems’ gross revenue was $68.7 million for 2014, an increase of $7.5 million compared to 2013
revenue of $61.3 million. The increase was ascribed to signicantly higher engineering services and material
handling revenues, which more than offset the decline in telecom backup power and development stage revenues.
27
The company did not record any engineering services, bus or telecom backup power revenue in the fourth quarter
of 2014 from the Azure Bus and Azure Telecom Backup Power Agreements as a result of contract breaches by
Azure Hydrogen (China).
28
Prior to the contract breaches by Azure, Ballard recognized a total of $8.7 million on
the two agreements in 2014 and a total of $5 million in 2013.
29
Ballard’s cost of revenue was $58.5 million.
FuelCell Energy reported that gross revenue for scal year (FY) 2014 decreased by $7.4 million, to $180.3 million,
down from $187.7 million in FY2013. This was due to a change in product mix with less revenue from multi-
megawatt installations and associated engineering, procurement and construction services.
30
Cost of revenue for
FY2014 was $166.6 million.
Hydrogenics’ gross revenue increased by $3.1 million to $45.5 million in 2014 compared to $42.4 million in 2013.
Growth in 2014 revenue was attributed to increases in Onsite Generation revenue, offset by decreases in Power
Systems revenue as a result of orders from the rst and second quarters of 2013, with no comparable orders during
the same periods in 2014.
31
The company’s cost of revenue was $34.3 million. Hydrogenics also reported that the
company posted its rst protable quarter during the fourth quarter of 2014, earning $0.6 million in net income on
revenue of $15.7 million.
32, 33
Plug Power’s gross revenue was $64.2 million, an increase of 141% over total revenue of $26.6 million in 2013.
This growth was predominantly driven by sales of the company’s new GenKey solution, comprised of GenDrive
or ReliOn hydrogen fuel cells for material handling equipment, GenFuel hydrogen infrastructure, and GenCare
customer service contracts.
34
Total cost of revenue was $69.1 million in 2014, compared to total cost of revenue
of $37.8 million in 2013, which Plug Power attributes to an improvement from a net margin rate of (42%) for 2013
versus a full year rate of (8%) for 2014, as well as higher product and installation site sales, substantial volume
leverage, supply chain cost downs, and continued product design improvements.
35
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
6
Ceramic Fuel Cells Ltd.’s gross revenue increased by AU$1.8 million ($1.6 million), to AU$6.1 million ($5.3
million), up from AU$4.3 million ($3.7 million) in FY2013. The increase in revenue was attributed to 210 fuel
cell units sold during the year compared to 147 units in 2013.
36
The cost of revenue was AU$24.5 million ($21.2
million) in FY2014.
Ceres Power’s gross revenue grew by £0.7 million ($1.1 million), reaching £1.2 million ($1.9 million) in FY2014,
up from £0.5 million ($0.8 million) in 2013. The company reported that its 2014 revenue was derived from one
customer in the U.K. (£0.7 million, or $1.1 million), one customer in Asia (£0.3 million, or $0.5 million) and
several customers outside of Europe.
37
The company’s cost of revenue was £10.1 million ($16 million) in FY2014.
SFC Energy reported that gross revenue increased by €21.2 million ($27.1 million) to €53.6 million ($68.4 million)
in FY2014, up from €32.4 million ($41.3 million) in FY 2013. Cost of revenue was €38.0 million ($48.5 million)
in FY2014.
R&D expenditures are shown in Table 3.
Table 3. R&D Expenditures for Select Public Fuel Cell Companies
R&D Expenditures for Select Public Fuel Cell Companies
(Thousands US$, unless footnoted)
Companies 2014 2013 2012
Ballard Power Systems (Canada) 14,294 17,117 19,273
FuelCell Energy
1
(U.S.) 18,240 15,717 14,354
Hydrogenics Corp. (Canada) 3,284 2,566 4,452
Plug Power (U.S.) 6,469 3,121 5,434
Ceramic Fuel Cells, Ltd.
2, 3
(Australia) 7,610 7,870 11,539
Ceres Power
2, 4
(U.K.) 7,138 7,190 13,205
SFC Energy AG
5
(Germany) 4,530 5,4336 4,257
1
Year ends October 31
2
Year ends June 30
3
AU$ Thousands
4
£ Thousands
5
€ Thousands
6
Updated (audited) number
from SFC Energy’s 2014 Annual Report. Source: Annual reports and investor presentations
Ballard Power Systems reported that R&D expenditures were $14.3 million in 2014, $2.8 million lower than 2013
expenditures of $17.1 million, largely driven by a 43% increase in engineering services revenues that resulted in
engineering staff resources being redirected to revenue generating engineering service projects.
38
Ceramic Fuel Cells also reported lower R&D expenditures, at AU$7.6 million ($6.59 million) in FY2014, which
is AU$0.3 million ($0.26 million) lower than FY2013 expenditures of AU$7.9 million ($6.85 million), attributed
to the March 2014 company restructuring that led to a reduction in work force and a lowering of operational and
production costs.
39, 40
Ceres Power showed a small decline in R&D expenditures, down by £0.05 million ($0.08 million) to £7.14 million
($11.3 million) in FY2014, from £7.19 million ($11.38 million) in FY2013.
FuelCell Energy’s R&D expenditures increased by $2.5 million, to $18.2 million during FY2014, compared to
$15.7 million FY2013. This increase was attributed to: continued product development initiatives to consolidate
select componentry and processes for the balance of plant functions as part of ongoing cost reduction programs;
product enhancements to further enhance the customer value proposition such as high-efciency solutions for
targeted applications; and a program to support European market development.
41
7
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Hydrogenics’ R&D expenditures were $3.3 million for FY2014, compared to $2.6 million in FY2013, with the
$0.7 million increase due to the development of the company’s Celerity™ fuel power system for medium and
heavy duty vehicles and power-to-gas projects.
42
Plug Power’s R&D expenditures for 2014 were $6.4 million, an increase of $3.3 million over 2013 expenditures of
$3.1 million. The increase mainly stemmed from investments commensurate with the company’s growth, as well
as incremental costs assumed with the acquisition of ReliOn, which will allow Plug Power to expand its fuel cell
stack development capabilities.
43
SFC Energy reported R&D expenditures of €4.5 million ($5.7 million) for 2014, down by €0.9 million ($1.1 mil-
lion) from 2013 expenditures of €5.4 million ($6.9 million).
Table 4 shows each company’s total assets and liabilities. Plug Power’s assets increased signicantly in 2014,
growing from $35 million in 2013 to more than $205 million in 2014, an increase of $170.5 million. Much of the
growth resulted from an increase in cash and cash equivalents, which rose from $5 million in at the end of 2013, to
more than $146 million at the end of 2014.
Table 4. Total Assets and Liabilities for Select Public Fuel Cell Companies
Total Assets and Liabilities for Select Public Fuel Cell Companies
(Thousands US$ except where noted)
Companies
2014 2013 2012
Assets Liabilities Assets Liabilities Assets Liabilities
Ballard Power Systems (Canada) 127,905 48,715 120,214 49,960 127,547 69,545
FuelCell Energy
1
(U.S.) 280,636 108,420 237,636 190,971 191,485 117,119
Hydrogenics Corp. (Canada) 47,555 32,079 40,070 33,909 41,877 37,570
Plug Power (U.S.) 205,881 46,445 35,355 50,856 39,460 24,430
Ceramic Fuel Cells, Ltd.
2, 3
(Australia) 26,330 18,415 33,326 17,580 32,810 11,913
Ceres Power
2, 4
(U.K.) 10,084 3,726 16,935 4,561 13,168 4,487
SFC Energy AG
5
(Germany) 47,256 19,667 47,649 18,586 47,617 11,224
1
Year ends October 31
2
Year ends June 30
3
AU$ Thousands
4
£ Thousands
5
€ Thousands
6
Updated (audited) number
from SFC Energy’s 2014 Annual Report. Source: Annual reports and investor presentations
Investment
Disclosed cumulative global investment in fuel cell companies - venture capital (VC), private equity (PE), over-
the-counter (OTC), and private investment in public equities (PIPE) - totaled $736.2 million for the period of 2012
to 2014, declining from $1.038.8 billion between 2011 and 2013 and $853.6 million between 2010 and 2012, as
reported in the 2013 and 2012 editions of this report. Figure 1 provides a breakdown by quarter and by investment
type.
Examining the numbers on a year-by-year basis, global investment declined from $307.1 million in 2012 and
$274.5 million in 2013, to $154.6 million in 2014.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
8
Chart created by Fuel Cell and Hydrogen Energy Association using data from Bloomberg New Energy Finance and New Zealand
Superannuation Fund. Data provided by Bloomberg New Energy Finance includes only disclosed and completed deals.
Figure 1. Worldwide Venture Capital, Private Equity, Over-the-Counter, and Private Investment in Public Equities
Investments in Fuel Cell Companies (2012-2014)
Figure 2 shows disclosed total U.S. investment in fuel cell companies between 2012 and 2014. U.S. investment
totaled $40.0 million in 2014, down from $172.7 million in 2013 and $245.8 million in 2012. The U.S. contribu-
tion to global fuel cell investment was 62% between 2012 and 2014, reecting a decrease from the 80% reported
for the period 2011 to 2013.
Chart created by Fuel Cell and Hydrogen Energy Association using data from Bloomberg New Energy Finance. Data provided
by Bloomberg New Energy Finance includes only disclosed and completed deals.
Figure 2. U.S. Venture Capital, Private Equity, Over-the-Counter, and Private Investment in Public Equities Investments in
Fuel Cell Companies (2012-2014)
9
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Table 5 shows disclosed VC and PE investments in fuel cell-related companies during 2014, totaling $119.9 mil-
lion. These investments were made by the following rms:
• The largest investment was made by Singapore’s GIC Pte Ltd (the Government of Singapore Investment
Corporation), which invested $63 million in Intelligent Energy Holdings (U.K.), a manufacturer of PEM fuel
cell systems.
• The New Zealand Superannuation Fund made a second investment of $50 million in SOFC manufacturer,
Bloom Energy (U.S.), having invested $50 million in Bloom during 2013.
• An undisclosed U.S. investor provided $5 million to CEP Reorganization, Inc., formerly ClearEdge Power
(U.S.), several months prior ClearEdge’s bankruptcy announcement in May. The PAFC manufacturer was
purchased in July by South Korea’s Doosan Corp., creating Doosan Fuel Cell America.
• Intelligent Energy Holdings PLC, SSE PLC, and Scottish Enterprise (U.K.) made a $1.3 million investment in
IE CHP UK & Eire Ltd. IE CHP UK & Eire operates as a subsidiary of Scottish & Southern Energy PLC and
is a joint venture company with Intelligent Energy, specializing in combined heat and power fuel cells.
• 350 Investment Partners (U.K.) invested a total of $0.3 million in PEM fuel cell manufacturer, Acal Energy,
making three separate investments of $0.1 million (March, June, and December).
Table 5. Disclosed Top Venture Capital and Private Equity Investors in Fuel Cells, By
Company and By Country (2014)
Top Fuel Cell Investors (2014)
Company Amount (million US$)
GIC Pte Ltd. (Singapore) 63.0
Superannuation Fund (New Zealand) 50.0
Undisclosed investor (U.S.) 5.0
Intelligent Energy Holdings PLC, SSE PLC, and Scottish Enterprise (U.K.) 1.3
350 Investment Partners LLC (U.K.) 0.3
TOTAL $119.6
Source: Bloomberg New Energy Finance and New Zealand’s Superannuation Fund
Further investments were made in 2014, but the values were not revealed:
• DAG Ventures LLC (U.S.) made an investment in Oorja Fuel Cells (U.S.).
• Idinvest Partners SA (France) and Total Energy Ventures International (France) invested in Sunre GmbH
(Germany).
• IPSA SA, CEA Investissement SA, and Michelin Group Inc. (France) invested in Symbio FCell SAS
(France).
In addition, Phystech Ventures and North Energy Ventures (Russia) completed an investment in PEM fuel cell
company AT Energy (Russia). The investment, reported to be about $1.9-$2.0 million, is expected to help develop
the company’s fuel cells for unmanned aerial vehicles and standby power supply systems for telecommunica-
tions projects.
44, 45
The investment made by Phystech Ventures and North Energy Ventures in AT Energy was not
included in Figure 1 or Tables 5 and 6 as the exact dollar value of the investment is not clear.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
10
Table 6 lists the top 10 reported global investors in fuel cells between 2000 and 2014, as well as countries with the
highest level of investment during that period. The top ve rms investing in fuel cell companies in the period are
Credit Suisse (Switzerland); Kleiner, Perkins, Caueld & Byers (U.S.); Superannuation Fund (New Zealand), New
Enterprise Associates (U.S.), and Mobius Venture Capital, Inc. (U.S.). In aggregate, the U.S. made the greatest cu-
mulative investment during the period, at $794.9 million, followed by the U.K. at $244.7 million and Switzerland
at $156.5 million. Overall, the Top 10 investor countries have provided 94% of reported global investment in fuel
cell companies during the period 2000 through 2014.
Table 6. Top Ten Venture Capital and Private Equity Investors in Fuel Cells, By Company
and By Country, Cumulative 1/1/2000-12/31/2014)
Top Ten Fuel Cell Investors Top Ten Countries with Highest Levels of Private
Investment in Fuel Cells
Company Amount (million US$) Country Total All VC and PE
Investment (million US$)
Credit Suisse (Switzerland) 136.2 U.S. 794.9
Kleiner Perkins Caufield &
Byers (U.S.)
105.7 U.K. 244.7
Superannuation Fund (New
Zealand)
100.0 Switzerland 156.5
New Enterprise Associates
(U.S.)
71.0 Singapore 113.0
Mobius Venture Capital, Inc.
(U.S.)
68.2 New Zealand 100.0
GIC Pte. Ltd. (Singapore) 63.0 Canada 73.8
GSV Capital Corp. (U.S.) 54.2 Germany 42.5
DAG Ventures LLC (U.S.) 54.2 Sweden 23.6
Rolls-Royce Holdings PLC
(U.K.)
50.0 Russian Federation 21.0
Enertek Services Pte. Ltd.
(Singapore)
50.0 Denmark 20.0
Subtotal (top 10 only) $752.5 Subtotal (top 10) $1,590.0
TOTAL (All Companies and Countries) $1,697.0
Source: Bloomberg New Energy Finance and New Zealand’s Superannuation Fund
Raising Capital/Equity Oerings
Aside from private equity from venture capital rms or industry investment, a number of fuel cell companies
raised money to support their R&D, capital expenditures, and/or commercialization efforts by pricing stock shares
and making them available to the public. These efforts raised more than $340 million in 2014 by the companies
involved.
11
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
In January, FuelCell Energy completed an underwritten public offering of 25.3 million shares of its common stock
at $1.25 per share, including 3.3 million shares sold pursuant to the full exercise of an over-allotment option previ-
ously granted to the underwriters. The total net proceeds after expenses were approximately $29.4 million, which
FuelCell Energy intends to use for project development, project nance, working capital support, and general
corporate purposes.
46
FuelCell Energy strengthened its existing relationship with NRG Energy in July, with the utility investing $35
million in FuelCell Energy common stock (14,644,352 shares at $2.39 a share) and establishing a new $40 million
revolving construction and term loan facility for project development. That deal brought NRG Energy’s ownership
to approximately 17 million shares of the FuelCell Energy’s common stock, or 6%, including 2.4 million shares
owned prior to this transaction.
47
FuelCell Energy intends to use the money for project development, project
nance, working capital support and general corporate purposes. The terms of the equity transaction include a war-
rant giving NRG the right to purchase an additional 2 million shares of common stock at a price $3.35 per share.
The warrant has a term of three years.
Plug Power completed an underwritten registered offering of 10 million shares of its common stock and accom-
panying warrants to purchase 4 million shares of its common stock in January. The shares and the warrants were
sold together in a xed combination, with each combination consisting of one share of common stock and 0.40 of
a warrant to purchase one share of common stock, at a price to the public of $3.00 per xed combination for gross
proceeds of $30.0 million. The securities were placed with a single investor.
48, 49
Plug Power completed an underwritten public offering of 22.6 million shares of its common stock in April, at $5.50
per share. Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses pay-
able by Plug Power, were approximately $116.3 million, which Plug Power said it would to use for working capital
and other general corporate purposes that may include capital expenditures and potential acquisitions.
50
Ceramic Fuel Cells Ltd. conditionally raised approximately £3.36 million ($5.3 million) in March through the
placement of 672 million New Ordinary Shares at a price of 0.5 pence (0.8 cents) per share.
51
In May, Hydrogenics Corporation successfully completed its underwritten public offering of 1.5 million common
shares (including 0.5 million secondary shares by CommScope, Inc. of North Carolina, a selling shareholder) at a
price of $15.00 per share. The net proceeds before expenses were $14,212,500, which Hydrogenics said it would
use for general corporate purposes. The company did not receive any proceeds from the sale of common shares by
CommScope.
52
SFC Energy placed a capital increase in November to accelerate growth with existing institutional shareholders and
new investors, raising gross proceeds of €3.26 million ($4.16 million). SFC states that it plans to use the funds to
accelerate growth in the oil and gas segment, with a focus on the U.S. market, and to launch the new EFOY GO!
product.
53
In October, AFC Energy raised funds through a placement and open offer to shareholders amounting to £6.1 mil-
lion ($9.7 million) before expenses.
54
In addition, several private companies have gone public:
• In July, Intelligent Energy’s initial public offering (IPO) in London valued the company at £639.3 million
($1 billion). The offering of 16.2 million shares was priced at £3.40 ($5.38) a share, raising £55 million ($87
million) in proceeds. The IPO represented about 8.8% of Intelligent Energy’s outstanding shares.
55
• In May, myFC Holding began trading on First North at NASDAQ OMX Stockholm in May.
56
• PowerCell Sweden AB also began trading on First North at NASDAQ Stockholm in December, attracting
SEK108 million ($15.1 million) in new capital from more than 2,300 new shareholders.
57
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
12
Intellectual Property
The Clean Energy Patent Growth Index report
58
from the Cleantech Group-Heslin Rothenberg Farley & Mesiti P.C.
tracks the intellectual property of the clean energy sector and provides detailed coverage on the different sectors
involved, including fuel cells.
In 2014, solar once again topped fuel cells with 1,238 patents, compared to 880 fuel cell patents.
Figure 3 shows that Toyota was the leader in fuel cell patents (101), with General Motors, Samsung, Honda and
Hyundai rounding out the top ve. The report indicates that approximately 300 different entities were granted fuel
cell patents in 2014.
Figure 3. Top 10 Fuel Cell Energy Patent Assignees (2002-2014)
Figure 4 shows that Japan regained the top country spot, moving the U.S. to second place, with Korea coming in
third. Within the U.S., Michigan was once again the leading state (99 patents), with California (44) coming in
second and Connecticut (18) taking third.
Figure 4. Fuel Cell Patents Geographic Distribution (2002-2014)
13
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Revenue
Fuel cell companies derive revenue from the sale of fuel cells and related equipment (such as hydrogen generation
and distribution infrastructure), support and maintenance contracts, and from contract research and development.
In 2014, worldwide fuel cell system revenue grew by almost $1 billion, reaching approximately $2.2 billion, up
from $1.3 billion in 2013 (Figure 5). Major increases were seen in North America and Asia Pacic revenues,
spurred by fuel cells for material handling (U.S.) and large-scale stationary sales by U.S. companies and residential
fuel cells in Japan.
Figure 5. Fuel Cell System Revenue by Region of Manufacture
Shipments
Globally, fuel cell shipments increased by around 37% over 2013 (Figure 6) and the number of MWs shipped grew
by about 7% (Figure 7). More than 50,000 fuel cells, totaling over 180 MW, were shipped worldwide in 2014.
North American (Figure 8) companies shipped more than 140 MW worldwide, more than triple the shipments
of Asia and Europe combined. Units ranged from kW to multi-MW in size and included large-scale stationary
systems, telecommunications backup systems and fuel cells for material handling, shipped to U.S. customers and
exported to Korea, Japan, Europe and range of other countries.
Japan (Figure 8) continues to deploy its Ene-Farm residential fuel cell system and from 2009-2014, the cumulative
number sold reached more than 115,000. In 2014, companies selling Ene-Farm systems installed more than 43,000,
representing 30 MW of fuel cells.
Portable fuel cell shipments grew substantially with increased sales to the oil and gas and security/surveillance
(remote power), recreation (auxiliary power units for RV, camping, boats), and military (portable soldier power)
market sectors.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
14
Figure 6. Fuel Cell Systems Shipped Worldwide by Application
Figure 7. Megawatts of Fuel Cells Shipped Worldwide by Application
Figure 8. Megawatts of fuel Cells Shipped Worldwide by Region of Manufacture
15
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Government Policies, Activities, and Funding
The federal government continues to fund a range of fuel cell and hydrogen research, development and demonstra-
tion (RD&D) activities. At the state level, numerous policies, both new and revamped, supported the development
and deployment of fuel cells and hydrogen fueling stations and state agencies made funding awards to fuel cell
companies and researchers.
Federal
The U.S. Department of Energy (DOE), through its Ofce of Energy Efciency and Renewable Energy (EERE)
Fuel Cell Technologies Ofce (FCTO), funds many research, development and deployment projects, via requests
for proposals or through programs such as the Small Business Innovation Research and Small Business Technology
Transfer (SBIR/STTR). These funding awards are summarized in Table 7.
Table 7. U.S. Department of Energy (DOE) 2014 Funding Awards
DOE 2014 Funding Awards
Company/Location Project Award
Amsen Technologies, LLC
Tucson, Arizona
SBIR/STTR Phase I Release 1 – To develop high-performance
proton exchange membranes for electrolysis cells.
$150,000
Ardica
San Francisco, California
To transition and scale-up a low-cost production process for
the production of aluminum hydride, a potential high-capacity
hydrogen storage material.
$1.2 million
Center for Transportation and
the Environment (CTE)
Atlanta, Georgia
To develop a fuel cell hybrid electric walk-in delivery van with a
150-mile range per fueling. The project will also retrofit 15 UPS
delivery vans with fuel cell hybrid power trains for testing at UPS
distribution facilities across California.
$3 million
Composite Technology
Development, Inc.
Lafayette, Colorado
SBIR Phase II Release 3 – To optimize the cost and performance
of composite cylinders for hydrogen storage using a graded
construction.
$999,927
FuelCell Energy
Danbury, Connecticut
To increase U.S. competitiveness in the fuel cell market
by enhancing the performance, increasing the lifespan,
and decreasing the cost of stationary fuel cells being used
for distributed generation and combined heat and power
applications.
$3 million
To develop a novel hybrid system for low-cost, low greenhouse
gas hydrogen production.
$900,000
Continuation of an award from DOE’s Advanced Manufacturing
Oce to install a DFC-H2® fuel cell at its manufacturing facility
in Torrington, Connecticut, to generate hydrogen, electricity and
heat.
$2.8 million
For advanced material development to enhance power density
and performance of the next generation of the company’s Direct
FuelCell® products.
$3.2 million
To enhance the performance and durability of the company’s
solid oxide fuel cell technology to attain market expectations.
$7.5 million
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
16
Giner, Inc.
Newton, Massachusetts
SBIR Phase I Release 1 – To develop a water electrolysis process
that can provide high-pressure hydrogen straight to storage
tanks or vehicles.
$1,149,984
First-of-its-kind award under a new EERE SBIR technology-to-
market topic. Giner will use catalyst materials patented by Los
Alamos National Laboratory with its dimensionally-stabilized
membrane technology to develop advanced, high-performance
and durable polymer electrolyte membrane electrode assemblies
for fuel cell and electrolysis applications.
$149,949
GVD
Cambridge, Massachusetts
SBIR Phase I Release 1 – To develop improved plastic and
elastomer seal coatings to enable reliable performance of
hydrogen systems.
$149,830
HRL Laboratories
Malibu, California
To develop high capacity reversible hydrogen storage materials
that have properties needed for practical hydrogen storage
applications.
$1 million
Lawrence Livermore National
Laboratory
Livermore, California
To develop a reversible, high-capacity storage material that can
bond to and release hydrogen in a vehicle, reducing the amount
of hydrogen that needs to be pumped in the tank.
$1.2 million
Materia
Pasadena, California
To demonstrate a novel resin system that reduces the use of
expensive carbon fiber composites for high pressure storage
tanks.
$2 million
Michigan State University
College of Engineering
Lansing, Michigan
To develop the technology needed to improve SOFCs and design
new brazing alloys.
$694,000
National Renewable Energy
Laboratory
Golden, Colorado
To develop high-eciency tandem absorbers based on novel
semiconductor materials that can produce hydrogen from water
using solar energy.
$3 million
Nuvera Fuel Cells
Billerica, Massachusetts
To design and demonstrate an integrated, intelligent high
pressure hydrogen dispenser for fuel cell electric vehicle fueling.
$1.5 million
Oak Ridge National
Laboratory
Oak Ridge, Tennessee
To demonstrate a low cost, steel concrete composite vessel for
high pressure hydrogen storage.
$2 million
Ohio Fuel Cell Coalition
Elyria, Ohio
To develop a robust supply chain for fuel cell and hydrogen
systems that will accelerate mass production, reduce cost, and
improve performance and durability.
$450,000
Pacific Northwest National
Laboratory
Richmond, Washington
To develop a reactor for hydrogen production from bio-derived
liquids.
$2.2 million
PPG Industries
Greensboro, North Carolina
To demonstrate a novel high strength glass fiber that is stronger
than the carbon fibers used today at half of the cost.
$1.2 million
Sandia National Laboratories
Livermore, California
To systematically screen low cost alternative materials for use in
hydrogen storage systems.
$1.2 million
To develop an innovative high-eciency solar thermochemical
reactor for solar hydrogen production.
$2.2 million
17
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Southwest Research Institute
San Antonio, Texas
To demonstrate a hydrogen compression system. $1.8 million
Tetramer Technologies, LLC
Pendleton, South Carolina
SBIR Phase I Release 1 – To leverage membrane technology
developed through a previous EERE membrane humidifier
project to design improved PEM electrolyzer ion exchange
membranes.
$150,000
Treadstone Technologies
Princeton, New Jersey
SBIR Phase II Release 3 - To develop novel structured metal
bipolar plates for low cost manufacturing
$991,774
University of Colorado,
Boulder Boulder, Colorado
To develop a novel solar-thermal reactor to split water with
concentrated sunlight.
$2 million
University of Hawaii
Honolulu, Hawaii
To develop photoelectrodes for direct water splitting. $3 million
US Hybrid
Torrance, California
SBIR Phase I Release 2 - To develop a proof-of-concept design
approach for a fuel cell-battery electric hybrid truck for waste
transportation.
$149,562
Virginia Clean Cities at James
Madison University
Harrisonburg, Virginia
To develop a nationwide Fuel Cell and Hydrogen Opportunity
Center consisting of an innovative internet-based resource to
grow the domestic fuel cell and hydrogen industry.
$450,000
Vision Industries Corporation
Long Beach, California
SBIR Phase I Release 2 - To develop a proof-of-concept design
approach for a fuel cell electric truck for waste transportation. If
this project is selected to proceed to Phase 2, the design will be
prototyped as a Class 8 Hydrogen Fuel Cell Electric Refuse Truck
that will be demonstrated with the Santa Monica Public Works
Division.
$148,746
Westside Industrial Retention
& Expansion Network's GLWN
Cleveland, Ohio
To complete detailed global manufacturing analysis of fuel cell
systems (automotive and stationary), high pressure hydrogen
storage systems, and key high value hydrogen and fuel cell
subsystems and components.
$695,000
Wiretough Cylinders LLC
Bristol, Virginia
To demonstrate a low cost, high pressure hydrogen storage
vessel using a steel wire overwrap.
$2 million
TOTAL $42.8 million
DOE’s Advanced Research Projects Agency-Energy (ARPA-E) awarded $33 million in funding in June through its
Reliable Electricity Based on ELectrochemical Systems (REBELS) program for 13 new projects aimed at develop-
ing transformational fuel cell technologies for low-cost distributed power generation (Table 8).
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
18
Table 8. DOE’s Advanced Research Projects Agency-Energy’s (ARPA-E) Reliable Electricity
Based on ELectrochemical Systems (REBELS) 2014 Funding Awards
DOE’s (ARPA-E Reliable Electricity Based on ELectrochemical Systems (REBELS) 2014 Funding Awards
Company/Location Project Award
Argonne National
Laboratory
Argonne, Illinois
To develop a hybrid fuel cell technology that will both generate electricity
and produce liquid fuel.
$2 million
Colorado School of Mines
Golden, Colorado
To develop a mixed proton and oxygen ion conducting electrolyte that
allows a fuel cell to operate at temperatures less than 500°C.
$1 million
FuelCell Energy
Danbury, Connecticut
To develop an intermediate-temperature fuel cell that will directly convert
methane to methanol and other liquid fuels using advanced metal
catalysts.
$3.5 million
Georgia Tech Research
Corporation
Atlanta, Georgia
To develop a fuel cell that operates at temperatures less than 500°C by
integrating nanostructured materials into all cell components.
$1 million
Materials & Systems
Research, Inc.
Salt Lake City, Utah
To develop an intermediate-temperature fuel cell capable of
electrochemically converting natural gas into electricity or liquid fuel in a
single step.
$2.8 million
Oak Ridge National
Laboratory
Oak Ridge, Tennessee
To redesign a fuel cell electrode that operates at 250°C using highly
porous carbon nanostructures that dramatically increase the amount of
surface area, lowering the amount of expensive platinum catalysts used in
the cell.
$2.75 million
Palo Alto Research Center
Palo Alto, California
To develop an intermediate-temperature fuel cell capable of utilizing a
wide variety of carbon-based input fuels.
$1.5 million
Redox Power Systems
Fulton, Maryland
To develop a fuel cell with a mid-temperature operating target of 400°C
while maintaining high power density and enabling faster cycling.
$5 million
SAFCell
Pasadena, California
To develop solid acid fuel cells that will operate at 250°C and use new
catalysts based on carbon nanotubes and metal organic frameworks.
$3.7 million
SiEnergy Systems
Cambridge, Massachusetts
To develop a hybrid electrochemical system that uses a multi-functional
electrode to allow the cell to perform as both a fuel cell and a battery.
$2.65 million
United Technologies
Research Center East
Hartford, Connecticut
To develop an intermediate-temperature fuel cell for residential
applications that will combine a building’s heating and power systems
into one unit.
$3.2 million
University of California Los
Angeles
Los Angeles, California
To develop a low-cost, intermediate-temperature fuel cell that will use
new metal-oxide electrode materials.
$1 million
University of South
Carolina
Columbia, South Carolina
To develop an intermediate-temperature, ceramic-based fuel cell that will
incorporate a newly discovered ceramic electrolyte and nanostructured
electrodes that enable it to operate at temperatures lower than 500˚C.
$3.2 million
TOTAL $33.3 million
19
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
To support H2USA, a public-private partnership formed in 2013 to accelerate the rollout of a U.S. hydrogen
infrastructure for FCEVs, FCTO established the Hydrogen Fueling Infrastructure Research and Station Technology
(H2FIRST) project, a collaborative effort between Sandia National Laboratories and the National Renewable
Energy Laboratory (NREL). H2FIRST aims to provide world-class technical facilities to demonstrate hydrogen
refueling technologies and infrastructure and to reduce the cost and time of new fueling station construction and
improve station availability and reliability. Two research facilities, Sandia’s Center for Infrastructure Research and
Innovation and the NREL Energy Systems Integration Facility in Colorado, serve as hubs for H2FIRST to help
achieve its goals.
59
In October, FCTO and the Hydrogen Education Foundation launched the $1 Million H2 Refuel H-Prize. This two-
year competition challenges America’s engineers and entrepreneurs to develop affordable systems for small-scale
hydrogen using electricity or natural gas for refueling hydrogen vehicles.
60
As part of a DOE-supported project, Massachusetts-based fuel cell manufacturer Acumentrics tested two of its
250-watt (W) SOFCs to power several remote broadcast cameras and two 1-kW SOFCs to power lights in pit row
at the 2014 Daytona 500, the rst race in the NASCAR Sprint Cup series. Sandia National Laboratories analyzed
the results of the project in the report, “Fuel cell mobile lighting: A fuel cell market transformation project,”
61
and
found that NASCAR could save more than $2,000 per race weekend by replacing gasoline-powered generators
with fuel cells – a savings of $77,000 over the course of the season.
62
Sandia National Laboratories also signed an umbrella Cooperative Research & Development Agreement (CRADA)
with Linde LLC that includes two new research and development projects to accelerate the expansion of hydrogen
fueling stations to continue to support the market growth of FCEVs.
63
The Maritime Administration (MARAD), an agency of the Department of Transportation (DOT), partnered with
DOE and Sandia National Laboratories to explore the potential cost savings and emissions reductions through
the use of hydrogen fuel cells to provide electrical power to ships at berths.
64
MARAD is providing $700,000 to
support the construction of a 100-kW portable fuel cell power system at the Port of Honolulu to help power vessel
onboard systems pierside for ships, tugs, and barges operating between the Hawaiian Islands.
MARAD is also testing fuel cells onboard the Training Ship Kennedy, a National Defense Reserve Fleet vessel, for
a one-year project evaluating fuel cell performance and pathways that use low sulfur marine diesel fuel to ef-
ciently power a fuel cell to produce auxiliary power for shipboard electrical systems.
65
The Department of Commerce’s National Institute of Standards awarded $100,000 to the Rochester Institute of
Technology’s Golisano Institute for Sustainability in Rochester, New York, to fund the nal phase of its research
and design of a prototype residential fuel cell power system.
66
The U.S. Trade Development Agency (USTDA) signed an agreement with Oorja Fuel Cells to share the costs of a
project to pilot fuel cell technology for cell tower operations in South Africa, and also signed a corresponding grant
agreement with Plessey, a South African telecommunications systems integrator. These projects are funded under
the U.S.-Africa Clean Energy Finance Initiative, a U.S. government effort to catalyze private sector investment for
clean energy projects in sub-Saharan Africa by supporting early-stage project development.
67
State Policies and Funding
At the state level, numerous policies, both new and revamped, support the development and deployment of fuel
cells and hydrogen fueling stations. California, which has dedicated $20 million annually for at least 100 public
hydrogen fueling stations by 2017, announced signicant funding awards during 2014. Several state agencies also
made funding awards to fuel cell companies and researchers (Table 9).
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
20
Table 9. State Funding for Fuel Cells and Hydrogen 2014
State Funding for Fuel Cells and Hydrogen 2014
Funder Award Details
California
California Energy
Commission (CEC)
Alternative and Renewable
Fuel and Vehicle Technology
Program (ARFVTP)
$46.6 million
and $1.2 million
Providing $46.6 million for 28 new hydrogen fueling stations
and a mobile refueler. Will also provide another $1.2 million for
the operation and maintenance of hydrogen refueling stations
in the state. See the Hydrogen Fueling section of this report for
more details.
Connecticut
Connecticut’s Department of
Economic and Community
Development
$20 million
low-interest
loan, up to $10
million in tax
credits
Loan to FuelCell Energy for an expansion of its Torrington
manufacturing facility. Includes $20 million in low interest,
long-term loans and up to $10 million in tax credits, predicated
on certain terms and conditions, including the forgiveness of
50% of the loan principal if certain job retention and job creation
targets are reached.
Connecticut’s Department of
Energy and Environmental
Protection Microgrid
Program
$2.2 million Awarded to the University of Bridgeport to install a 1.4-MW
FuelCell Energy fuel cell system as part of a microgrid to power
campus buildings.
New York
New York State Energy
Research and Development
Authority (NYSERDA) and
New York Battery and
Energy Storage Technology
(NY-BEST) Consortium
$250,000 Awarded to Cornell University to develop and demonstrate a
regenerative fuel cell energy storage system, using a Cornell-
designed membrane, to produce hydrogen.
New York State‘s Economic
Development Awards
$600,000 • $500,000 to American Fuel Cell (Rochester) to further
develop membrane electrode assemblies (MEAs).
• $100,000 to MICROrganic Technologies, Inc. (Albany) to
commercialize its microbial fuel cell technology and to
advance the development of original equipment manufacturer
(OEM) production equipment to convert from chemical to
electrical energy the organic waste processed at wastewater
treatment facilities.
Ohio
Edison Advanced
Manufacturing Program
$297,056 To help develop and promote local advanced manufacturing
projects in fuel cell technology. The Ohio Fuel Cell Coalition will
provide $335,154 in matching funds.
21
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
International Policies and Investment
With the anticipated increase in fuel cell vehicle deployments by major automakers, international efforts focused
largely on support for FCEVs and the development of hydrogen fueling infrastructure. Japan also reinforced its
goal to create a hydrogen society, with vehicles, homes and businesses powered by fuel cells. Table 10 gives an
overview of international funding efforts announced during 2014.
Table 10. Overview of International Policies and Funding for Fuel Cells and Hydrogen 2014
Overview of International Funding for Fuel Cells and Hydrogen 2014
Country Funding Details
Germany $1.6 billion The National Organization Hydrogen Fuel Cell Technology
(NOW), Clean Energy Partnership, H2Mobility and Performing
Energy rearmed their commitment to the development of a
German hydrogen fueling infrastructure by signing a declaration
to invest €2 billion ($2.6 billion) over the next 10 years.
U.K. $7 million Unveiled a plan to provide up to £11 million ($17.4 million) to
facilitate the roll-out of hydrogen-fueled vehicles and associated
hydrogen refueling station infrastructure.
See the Vehicles, Hydrogen Infrastructure and Stationary sections for additional details on U.S. and international
policies.
Applications and Market Assessment
Today, fuel cells deliver power to a variety of industries, including transportation, stationary/backup and portable
power applications. Users are nding that fuel cells provide a wide range of benets including: low-to-zero
emissions, high efciency, reliability/resiliency, fuel exibility, energy security, durability, scalability, and quiet
operation.
Appendix 1 provides a listing of companies in this report with commercially
available fuel cell products.
Transportation
Fuel cells have been demonstrated and deployed in just about every form
of motive transportation there is, from light-duty passenger cars to buses; a
portfolio of material handling vehicles; boats, planes, scooters and a range of
other specialty vehicles; and also onboard internal combustion engine or other
alternative-fueled or battery-electric vehicles as range extenders or auxiliary
power units. In 2014, fuel cells were given the spotlight with regards to
light-duty vehicles, but also saw great progress with fuel cell bus and fuel
cell-powered forklift orders and deployments.
Light Duty Vehicles
In 2014, major automakers garnered major press coverage from FCEV debuts
and commercialization announcements and several countries reinforced their
support with policies and funding commitments.
A 10,000-km, 52-day road
show, sponsored by SAIC
Motor Corp., drove through 64
cities in 15 provinces in China.
During the tour, Air Liquide
supplied a total of 3,000 m
of hydrogen, fueling the three
hydrogen-powered cars 128
times with a mobile refueler.
The longest daily distance
driven per car in a day was
365 miles. The mobile station
fueled the cars at elevations
of up to 6,500 feet and test
drives were successfully
conducted at an elevation of
13,000 meters in Tibet.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
22
In April, ve automakers – BMW, Daimler, Honda, Hyundai, and Toyota – joined together to launch the HyFive
project, agreeing to deploy 110 fuel cell electric vehicles in several European cities. The £31 million ($49 million)
program will also develop hydrogen refueling stations in London, Denmark, and Austria, working with fuel provid-
ers Air Products, Linde, ITM Power, and other stakeholders.
69
Japan’s government announced it will offer a rebate of at least ¥2 million ($18,165) to customers purchasing
FCEVs and will make FCEVs the ofcial car of its ministries and other government ofces.
70
China’s government mandated that electric cars, including FCEVs, comprise at least 30% of government vehicle
purchases by 2016. This percentage will be raised after 2016, when local provinces are required to meet the target.
Electric cars were also exempted from a purchase tax.
71
To prepare for the increase in FCEVs entering the marketplace, 51 countries and regions, including Japan, the
European Union, and Russia, agreed to relax inspection regulations on FCEVs, based on common safety standards
to be implemented among them. Common safety standards for FCEVs were set mainly on fuel tanks into which
hydrogen is injected at high pressure. If automobile makers manufacture vehicles based on the unied standards
and the products pass each manufacturing country’s screening, safety inspections which have been conventionally
conducted for each export destination could be skipped.
72
The United Nations Economic Commission for Europe World Forum for Harmonization of Vehicle Regulations
(WP.29) adopted a United Nations Global Technical Regulation (UN GTR) governing the safety of hydrogen and
both internal combustion engines fueled by liqueed hydrogen and fuel cell electric vehicles fueled by compressed
gaseous hydrogen. This new UN GTR represents the rst international legislation in this eld and species provi-
sions to ensure that such vehicles attain the same safety level as conventional gasoline vehicles.
73
Hyundai
After making news in 2014 with its announcements about the Tucson Fuel Cell FCEV, Hyundai previewed its latest
fuel cell concept car, the Intrado, in advance of the Geneva Auto Show in March.
74
In June, Hyundai started to accept leasing applications for its 2015 Tucson Fuel Cell FCEV (known as the Hyundai
ix35 Fuel Cell FCEV outside of the U.S.) at three select Southern California Hyundai dealers.
75
Hyundai also an-
nounced that it was negotiating with several insurance companies to simplify the Tucson Fuel Cell leasing process
and had negotiated an insurance strategy with State Farm Insurance.
76
The vehicle is currently available to customers in a number of countries around the world (U.S., the U.K.,
Germany, France, Belgium, Italy, Austria, Netherland, Denmark, Sweden, Norway, Finland, and South Korea)
and in November, Hyundai announced it would begin leasing in Vancouver, Canada in early 2015.
77
In addition,
Hyundai Australia imported an ix35 FCEV, the country’s rst, and unveiled proposals to build a national Hydrogen
Highway between Sydney, Canberra, and Melbourne.
78
Toyota
Toyota introduced its new Mirai – which means “future” in Japanese – FCEV at the Paris Motor show
79
and sales
began in Japan on December 15, 2014.
80
The vehicle can travel up to 300 miles on a single tank of hydrogen.
81
The company also announced plans to invest around ¥20 billion ($182 million) to triple domestic production
capacity of the Mirai in response to demand, adding two lines at its factory by the end of 2015.
82
The car is hand-
built at the former Lexus LFA Works Plant One in Motomachi, Japan.
83
Honda
At the Los Angeles Auto Show, Honda unveiled its FCV CONCEPT, a successor to the FCX Clarity, which it plans
to begin selling in Japan by the end of March 2016, and in the U.S. and Europe after that.
84
The FCV CONCEPT features a next generation fuel cell stack that is 33% smaller than Honda’s previous fuel cell
stack, with an output of more than 100 kW and an output density as high as 3.1 kW per liter. Honda claims overall
performance is improved by approximately 60% and the vehicle is equipped with 70 MPa high-pressure hydrogen
23
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
storage tank to give it a range of more than 430 miles. The FCV CONCEPT is world’s rst fuel cell sedan with the
entire powertrain, including the fuel cell stack, located under the hood of the vehicle.
The Honda FCV CONCEPT also features an external power feeding function, which when combined with an
external power feeding device, allows it to function as a small-sized mobile power plant to provide electricity in
times of disaster or power outages.
Volkswagen
At the Los Angeles Auto Show, Volkswagen premiered the Golf SportWagen HyMotion, a research vehicle with a
fourth-generation 100-kW fuel cell powertrain.
85
The front-wheel-drive HyMotion accelerates from 0 to 62 mph
(100 km/h) in 10.0 seconds. The hydrogen is stored under the vehicle in four high-tech carbon ber tanks, and the
vehicle has a driving range of 310 mi (500 km).
Several research vehicles have been built based on the U.S. version of the Passat, using the same drive components
as the Golf SportWagen HyMotion. This eet of Passat HyMotion vehicles is currently being tested in California.
At the show, Volkswagen Group brand Audi showcased the same fuel cell system in an A7 Sportback h-tron quattro
vehicle.
86
Daimler
In October, the Mercedes-Benz FCEV eet passed the 300,000 km (186,000 mi) mark in their long-term test under
everyday driving conditions. For this achievement, Daimler AG was honored with the “f-cell Award 2014.”
Daimler debuted its G-Code sport utility vehicle concept at the opening of its new Mercedes-Benz Research &
Development Center in Beijing, China in November. The vehicle is powered by both a compact, turbocharged
hydrogen-fueled combustion engine which solely drives the front wheels, and an electric motor which drives the
rear axle and transmits its power selectively to the two wheels via a dual multi-disc clutch.
87
General Motors (GM)
DOE’s NREL and GM have partnered on a multi-year, multi-million dollar joint effort to accelerate the reduction
of automotive fuel cell stack costs through fuel cell material and manufacturing R&D.
88
NREL and GM will focus
on critical next-generation FCEV challenges, which include reducing platinum loading, achieving high power
densities, understanding the implication of contaminants on fuel cell performance and durability, and accelerating
manufacturing processes to achieve the benets of increased economies of scale. The work will be done under
a CRADA between NREL and GM and takes advantage of NREL’s state-of-the-art Energy Systems Integration
Facility.
Table 11. Examples of Commercially Available Fuel Cells for Transportation 2014
Examples of Commercially Available Fuel Cells for Transportation 2014
Manufacturer/
Location
Product Name Type Output Vehicle Type
Ballard Power
Systems Canada
FCvelocity-HD6 PEM 75 kW & 150 kW Cars, buses
Hydrogenics Canada Celerity/CelerityPlus PEM 60 kW Buses, trucks
HyPM™ HD 30 PEM 33 kW Vehicles with existing
electric drive platform
HyPM™ HD 90 PEM 99 kW Vehicles with existing
electric drive platform
HyPM™ HD 180 PEM 198 kW Vehicles with existing
electric drive platform
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
24
SymbioFC France ALP® PEM 80 kW-100 kW (full
system)
Utility vehicles, trucks
US FuelCell* U.S. Model 80 auxiliary
power unit (APU)
PEM 80 kW Cars, buses
Model 150 APU PEM 150 kW Buses, trucks
UTC PureMotion® PEM 120 kW, Legacy Buses
For the purpose of this chart, transportation includes light duty vehicles, trucks and buses. Many automakers are developing
and manufacturing proprietary fuel cells for their fuel cell electric vehicles.
*In January 2014, US Hybrid (US FuelCell’s parent company) entered a global licensing agreement with United Technologies
Corporation (UTC) for UTC’s PEM fuel cell technologies for the vehicle market.
Additionally, fuel cell company Intelligent Energy signed a two-year, multi-million dollar development agreement
with a Japanese automotive OEM to focus on the development of Intelligent Energy’s fuel cell engine technology
for compact cars and two-wheeled vehicles, as well as for range extenders.
89
Buses
Five major European bus manufacturers, Daimler Buses (EvoBus), MAN, Solaris, Van Hool and VDL Bus &
Coach, signed a joint Letter of Understanding in November underlining their commitment for the commercializa-
tion and market introduction of fuel cell electric buses in urban public transport.
90
Ballard Power Systems, with partners BC Transit, New Flyer, and PW Transit, was awarded the Canadian Urban
Transit Association (CUTA) 2014 Corporate Leadership Innovation Award for its Whistler Fuel Cell Bus Project.
The project terminated in 2014, and at the completion of the ve-year evaluation, the 20 fuel cell buses had logged
close to 4 million km (2.5 million mi) of revenue service.
91
The buses have been since slated for sale and conver-
sion to utilize diesel or another fuel.
92
In November, Ballard and Van Hool N.V. opened a dedicated joint European Service and Parts Centre for fuel cell
buses (ESPACE), co-located with Van Hool’s Lier, Belgium manufacturing facility, to support Van Hool fuel cell
buses in Europe that are powered by Ballard fuel cell modules.
93
By the end of 2014, 27 Ballard/Van Hool fuel cell
buses were expected to be in operation in ve European cities.
Ballard was also involved with many sales, orders and deployments of its fuel cell system for transit buses in 2014,
partnering with bus manufacturers and transit agencies around the world.
Table 12. Ballard Power Systems’ Bus Orders and Deliveries in 2014
Ballard Power Systems’ Bus Orders and Deliveries, 2014
Organization Deployment Site
# of Fuel
Cells
Details
Aberdeen City
Council
Aberdeen, Scotland 4 Four of 10 fuel cell buses on order from Van Hool
were delivered as part of the Aberdeen Hydrogen
Bus Project.
Center for
Transportation and
the Environment
(CTE)
Birmingham,
Alabama
1 Delivered a fuel cell bus with a 75-kW Ballard fuel
cell to the Birmingham-Jeerson County Transit
Metro Area Express (MAX) for daily use in a two-
year demonstration project. Funded by the FTA
National Fuel Cell Bus Program (NFCBP). Air
Liquide constructed the hydrogen fueling station.
25
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
New Flyer Industries Not specified 1 Received a purchase order from New Flyer
Industries for a FCvelocity®-HD7 fuel cell power
module to be used in a next-generation New Flyer
Industries fuel cell bus in a project administered
by CALSTART. The bus will be sent to Altoona,
Pennsylvania for testing and qualification prior to
deployment in revenue service under the NFCBP.
SunLine Transit
Agency
Thousand Palms,
California
2 SunLine deployed two new fuel cell buses powered
by Ballard’s FCvelocity®-HD6 fuel cell module. The
buses evolve the previously deployed American Fuel
Cell Bus (AFCB) configuration, first introduced with
SunLine in 2011.
University of
California, Irvine
Irvine, California 1 Ballard, with partners BAE Systems and ElDorado
National, signed an agreement with CALSTART
to deploy a fuel cell hybrid bus at the University
of California, Irvine, in 2015. Ballard will supply
the Company’s 6th generation FCvelocity®-HD6
power module. This is the 6th fuel cell hybrid bus
produced based on the AFCB configuration.
Solaris Bus
and Coach and
Hamburger
Hochbahn AG
Hamburg, Germany 2 Signed an equipment supply agreement with Solaris
for two FCvelocity®-HD7 fuel cell power modules
to be used in buses planned for deployment by
Hamburger Hochbahn AG. The fuel cells were
delivered in late 2014 and will be used as range
extenders, in combination with batteries, in Solaris
electric bus platforms.
Van Hool and
Regional Verkehr
Koln (RVK)
Cologne, Germany 2 Ballard and partner Van Hool NV delivered two new
buses powered by Ballard’s FCvelocity®-HD6 fuel cell
modules to transit authority RVK, joining two fuel
cell buses that have been in regular transit service
since 2011.
Škoda Electric and
Rigas Satiksme
Riga, Latvia Up to 27 Signed a non-binding MOU with Latvian transit bus
operator Rigas Satiksme and Czech Republic bus
and tram manufacturer Škoda Electric regarding
the Hy-Trolley fuel cell trolley bus development and
deployment program for Riga, Latvia. Škoda and
Ballard will perform a feasibility study and product
evaluation, followed by potential replacement of up
to 27 diesel generators on existing trolley buses with
Ballard’s FCvelocity®-HD7 fuel cell power module in
the 2016 timeframe.
TOTAL Up to 40
The rst of two Urbino 18.75 electric buses had its world premiere in Hamburg, Germany, in December 2014.
Designed for operator Hochbahn, the Solaris buses are equipped with 120 kilowatt-hour (kWh) batteries as the
main energy provider to the drive system. The batteries will be charged by Ballard 101-kW fuel cells during opera-
tion. The fuel cells are used only when 100% of output is required, which signicantly increases their durability.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
26
The bus will be fueled with hydrogen at night in the depot. Battery charging cycles will be pre-programmed so the
bus is able to drive 300 km (186 mi) per day.
94
The Stark Area Regional Transit Authority (SARTA) in Ohio has partnered with California organization
CALSTART to deploy two fuel cell buses through its No Emissions Bus Program. The buses are tentatively sched-
uled for production in February 2015 for the rst bus and July 2015 for the second, with delivery in August 2015
and December 2015. The Ohio Department of Transportation granted SARTA $500,000 to construct a hydrogen
station to fuel the bus.
95
US Hybrid was awarded a contract by the Hawaii Center for Advanced Transportation Technologies (HCATT) to
design, integrate, and deliver its H2Ride™ Fuel Cell Plug-In Shuttle Bus for operation by the County of Hawaii
Mass Transit Agency’s HELE-ON Big Island bus service. The project is funded by the State of Hawaii and Ofce
of Naval Research via the Hawaii Natural Energy Institute (HNEI). The 25-passenger shuttle bus will be integrated
at US Hybrid’s Honolulu facility and utilizes a 30-kW fuel cell, 20 kilograms (kg) of hydrogen storage and delivery
system, and a lithium ion battery.
96
Material Handling
Fuel cells for material handling received a big boost in 2014 from several repeat customers, including Walmart,
Ace Hardware, and Central Grocers.
Plug Power launched the GenKey package in January, an all-inclusive hydrogen solution for material handling sites
that includes fuel cells, fueling, and maintenance, thus offering customers one-stop shopping.
97
GenKey is com-
prised of three separate elements: GenDrive fuel cell units, GenFuel hydrogen fuel and infrastructure, and GenCare
maintenance service. Plug Power was also named to the 2014 Food Logistics FL100+ list, a list of innovative
technology and software providers that inuence the global food and beverage supply chains.
98
In October, Ballard Power Systems signed a long term supply agreement with Plug Power to provide fuel cell
stacks for use in Plug’s GenDrive® systems for material handling vehicles. The new supply agreement replaces an
existing agreement and runs to the end of 2017, with the provision for two 1-year extensions.
99
This new supply
agreement includes Ballard’s FCgenTM-1020ACS air-cooled stacks used in GenDrive® systems to power Class 3
pallet jacks; and FCvelocityTM-9SSL liquid-cooled stacks used in systems to power Class 2 reach trucks and Class
1 counterbalanced lift trucks.
Table 13. Notable Plug Power 2014 GenDrive® Sales
Notable Plug Power 2014 GenDrive® Sales
Customer Deployment Site
# of Fuel
Cells
Details
Ace Hardware West Jeerson, Ohio 71 The fleet of fuel cell-powered Class 2 and Class
3 lift and reach trucks at its newly constructed
450,000-square-foot Retail Support Center in
Wilmer, Texas, has performed so well that Ace
Hardware ordered 35 fuel cell-powered reach trucks
and 36 fuel cell pallet jacks for its new Ohio facility.
A Nuvera PowerTap™ generator was installed at the
Ohio facility, dispensing up to 50 kg/day of high-
purity hydrogen.
Central Grocers Joliet, Illinois 182 The new units will replace the original fuel cell
forklifts Central Grocers has had in place since 2009
– the entire fleet at this site – which have operated
for more than two million hours. Central Grocers
also signed a 5-year GenCare service contract.
27
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Golden State Foods McCook, Illinois 39 GenDrive fuel cells will power 39 material handling
vehicles – 11 Class 2 stand-up reach lift trucks
and 28 class-3 rider pallet trucks – at a new food
distribution center west of Chicago serving more
than 460 McDonald's in the Midwest region. Will
also provide GenCare onsite maintenance and
service. Nuvera supplied a PowerTap™ hydrogen
station to the site.
Newark Farmers
Market
Newark, New Jersey 110 This is the second purchase, more than doubling the
size of the facility’s fuel cell-powered lift truck fleet
at the Newark location. The new order is comprised
of 25 class-2 standup reach truck units and 85
class-3 pallet jack units.
Volkswagen Chattanooga,
Tennessee
45 No details are available.
Walmart 7 sites, including
Sterling, Illinois;
Pottsville,
Pennsylvania; and
Johnstown, New
York
2,069 The GenKey purchase order also includes GenFuel
infrastructure construction and hydrogen fuel supply
and six-year GenCare service contracts for each site.
Cologne, Germany 2 Ballard and partner Van Hool NV delivered two new
buses powered by Ballard’s FCvelocity®-HD6 fuel cell
modules to transit authority RVK, joining two fuel
cell buses that have been in regular transit service
since 2011.
Škoda Electric and
Rigas Satiksme
Riga, Latvia Up to 27 Signed a non-binding MOU with Latvian transit bus
operator Rigas Satiksme and Czech Republic bus
and tram manufacturer Škoda Electric regarding
the Hy-Trolley fuel cell trolley bus development and
deployment program for Riga, Latvia. Škoda and
Ballard will perform a feasibility study and product
evaluation, followed by potential replacement of up
to 27 diesel generators on existing trolley buses with
Ballard’s FCvelocity®-HD7 fuel cell power module in
the 2016 timeframe.
TOTAL 2,516
Fuel cell-powered material handling equipment is being tested for use in airport operations.
In late 2014, as part of a DOE $2.5 million project, Plug Power delivered its GSE (ground support equipment) fuel
cells, to power a 15-truck eet of FedEx airport tuggers at the FedEx hub of the Memphis Airport. Plug Power
also installed its rst GenFuel hydrogen infrastructure, including a standard hydrogen storage tank, compression
system, fuel pipelines, and Plug Power’s rst outdoor GenFuel hydrogen dispensers.
In Japan, New Kansai International Airport Co. launched a demonstration project at Kansai Airport in May to
test two fuel cell-powered forklifts at the airport’s shared drug storage, cargo shed, and other areas. A full-scale
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
28
hydrogen station will be built to fuel the forklifts and other fuel cell vehicles that will operate in and around the
terminal area.
100
Table 14. Examples of Commercially Available Fuel Cells for Material Handling 2014
Examples of Commercially Available Fuel Cells for Material Handling 2014
Manufacturer/Location Product Type Output
Ballard Power Systems
Canada
FCgen-1020ACS PEM 1.5-3.6 kW
FCvelocity-9SSL PEM 4-19 kW
H2Logic
Denmark
H2Drive PEM ~10 kW
Hydrogenics
Canada
HyPX Power Packs PEM/ hybrid N/a
Intelligent Energy
U.K.
Gen4 PEM 3.9 kW
Nuvera Fuel Cells
U.S.
Orion PEM 10-30 kW
Oorja Protonics
U.S.
OorjaPac Model III DMFC 1.5 kW
Plug Power
U.S.
GenDrive Series 1000 PEM 8–10 kW
GenDrive Series 2000 PEM 8–10 kW
GenDrive Series 3000 PEM 1.8–3.2 kW
Proton Motor GmbH
Germany
HyRange® 8 PEM 8.2 kW
HyRange® 25 PEM 25 kW
PM400 PEM Up to 30 kW
SymbioFC
France
ALP® PEM 5 kW-20 kW (range
extender)
For purpose of this chart, material handling includes fuel cells for forklifts, lift trucks, two-wheeled vehicles, as well as range
extenders for battery-electric utility and commercial vehicles.
Other Transport
Fuel cells are being integrated into a wide range of other transportation vehicles, including utility and delivery
vehicles which don’t require as large a fuel cell or hydrogen storage system as passenger cars or buses; as range
extenders for battery electric vehicles; two-wheeled scooters; and to provide long-running power to unmanned
vehicles and even trains.
The California Energy Commission (CEC) approved a $1.1 million grant to CTE to develop and deploy fuel cell
hybrid electric walk-in delivery vans.
101
This funding award builds upon the $3 million that CTE was awarded
from DOE in January (see Table 7).
29
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Microcab, a spin-off of Coventry University in the U.K., produced a new commercial version of its H2EV that
features a 3-kW fuel cell system, has a range of 180 miles per tank, and a top speed of 55 mph.
102
The H2EV fea-
tures a hybrid powertrain architecture that combines the power capability of a lithium-ion battery with the energy
capability of a hydrogen fuel cell.
103
A eet of 50 hybrid electric/hydrogen-powered Renault Kangoo ZEs utility vehicles, equipped with Symbio
FCell’s fuel cell range extender, were deployed in the Hyway program in the Rhône-Alpes region of France. Two
hydrogen lling stations will be built in Grenoble and Lyon in early 2015. The HyWay project received nancial
backing of the Rhône-Alpes regional government, the French national energy management, and several other
government agencies.
104
Proton Power Systems PLC was selected to integrate its new HyRange® 25 system as a range extender into a
3-ton battery passenger transport vehicle manufactured by a major automotive OEM. The project is funded by the
Austrian government.
105
Proton was also contracted to perform a feasibility study for a fuel cell maritime applica-
tion from an Asia Pacic-based customer, in a deal worth €297,000 ($379,000).
106
National Cheng Kung University in southern Taiwan unveiled its rst hydrogen-fueled electric scooter called
“Pegasus One,” which completed a maiden voyage of 80 km (50 mi). The scooter combines a lithium battery with
a 3-kW Ballard Power Systems’ fuel cell to enhance range and battery charging.
107
Israeli company Bluebird demonstrated the WanderB, the rst-ever civilian operational unmanned aerial vehicle
(UAV) to be powered by a fuel cell. The Horizon Energy Systems’ fuel cell was integrated into the UAV by
Bluebird with support from the Singapore Israel Industrial R&D Foundation.
108
South Africa’s HySA Systems Competence Centre at the University of the Western Cape joined with the National
Aerospace Centre and Airbus to examine fuel cell APUs to generate onboard electrical power and heat while an
aircraft is on the ground.
109
Alstom has signed Letters of Intent with the German regions of Lower Saxony, North Rhine-Westphalia, Baden-
Württemberg, and the Public Transportation Authorities of Hesse, for the use of a new generation of emission-free
train equipped with fuel cell drive. The German Federal Ministry of Transportation intends to support the develop-
ment of the train. Two prototypes will be tested in 2018.
110
Hydrogen
Hydrogen station development progressed in 2014, with signicant policy efforts and funding commitments that
will enable the number of hydrogen fueling stations to grow across the U.S., Europe, and Asia. These efforts sup-
port the expected growth in commercial FCEV deployments by Hyundai, Honda, Toyota, and other automakers.
Hydrogen energy storage is also increasingly regarded as a way to utilize surplus energy produced by wind or solar
technologies. This renewably-generated hydrogen can be injected in natural gas pipelines for widespread distribu-
tion, or used for fuel cell power generation or for hydrogen vehicle fueling.
Hydrogen Infrastructure Development
An annual assessment by H2stations.org, a website of Ludwig-Bölkow-Systemtechnik (LBST) and TÜV SÜD,
reports that 17 new hydrogen stations were opened worldwide in 2014 – two In North America, three in Asia, 12 in
Europe.
111
The H2USA partnership, which was rst announced in 2013 to accelerate the rollout of a U.S. hydrogen infrastruc-
ture for FCEVs, has grown to more than 30 businesses and organizations, including the U.S. Department of Energy,
automakers, fuel cell suppliers, materials and component manufacturers, energy companies, national laboratories,
associations, and NGOs. In 2014, H2USA welcomed several new participants, including:
112
• California, represented by the state’s Energy Commission and the Air Resources Board;
• Northeast States for Coordinated Air Use Management (NESCAUM);
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
30
• Pacic Northwest National Laboratory; and
• Intelligent Energy.
The CEC awarded $46.6 million from the ARFVTP for 28 new public hydrogen stations and one mobile hydrogen
refueler (Table 15). This funding adds 13 new stations in Northern California and 15 in Southern California. Six
of the stations will generate 100% renewable hydrogen.
113
Table 15. California Energy Commission’s Alternative and Renewable Fuel and Vehicle
Technology Program Proceedings (ARFVTP) Funding Awards for New Public Hydrogen
Refueling Stations
California Energy Commission – ARFVTP Funding Awards for New Public Hydrogen Refueling Stations
Company Award Details
FirstElement Fuel, Inc. $2,902,000 To construct two 100% renewable refueling stations in Los
Angeles.
$24,667,000 For 17 stations located in Campbell, Coalinga, Costa Mesa,
Hayward, Laguna Niguel, Lake Forest, La Canada Flintridge,
Long Beach, Mill Valley, San Diego, San Jose, Santa
Barbara, Saratoga, South Pasadena, South San Francisco,
Redwood City, and Truckee.
HyGen Industries, LLC $5,306,814 To construct three 100% renewable hydrogen refueling
stations located in Orange, Pacific Palisades, and Rohnert
Park.
Linde LLC $4,250,000 To install two hydrogen refueling stations in San Ramon
and Oakland.
ITM Power Inc. $2,125,000 To install a hydrogen refueling station in Riverside.
Air Liquide Industrial US $2,125,000 To install a hydrogen refueling station in Palo Alto.
HTEC Hydrogen Technology &
Energy Corporation
$2,125,000 To install a hydrogen refueling station in Woodside.
Ontario CNG Station Inc. $2,125,000 To install a 100% renewable hydrogen refueling station in
Ontario.
Gas Technology Institute $999,677 To design, fabricate, test, and deploy a fully operational,
commercial mobile hydrogen refueler with the capability to
fill either 350 bar or 700 bar vehicle tanks through onboard
metered dispensing hoses.
TOTAL $46,625,491
FirstElement Fuel, which was awarded more than $27 million in ARFVTP funding for 19 hydrogen fueling sta-
tions, will receive an additional $7.3 million loan from Toyota to aid in the development of these stations.
Honda will provide $13.8 million to FirstElement Fuel to build additional hydrogen fueling stations in California.
Combined with state grants, Honda’s funding could enable FirstElement to add at least 12 more stations, expanding
FirstElement’s California network to 31 or more hydrogen fueling stations.
114
31
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Toyota and Air Liquide announced a partnership to develop and supply a phased network of 12 state-of-the-art
hydrogen stations in New York, New Jersey, Massachusetts, Connecticut, and Rhode Island, targeting the greater
New York and Boston areas rst to provide the backbone of a northeast corridor hydrogen highway.
115
In Japan, the Ministry of Economy, Trade and Industry (METI) Hydrogen/Fuel Cell Strategy Council released a
“Hydrogen/Fuel Cell Strategy Roadmap” that outlines three phases to introduce and expand hydrogen and fuel cell
technologies in Japan.
• Phase 1: Increase the number of residential fuel cell units in Japan to 1.4 million in 2020 and 5.3 million in
2030; increase the number of hydrogen stations for FCEVs to 100 in 2015; and to commercialize FCEVs in
2015, fuel cell buses in 2016, and commercial/industrial fuel cell systems using SOFCs in 2017.
• Phase 2: 2025-2030. Introduction of hydrogen-based power generation on a full scale and the establishment
of large-scale hydrogen supply systems.
• Phase 3: 2040 and beyond. Full-scale production, transportation and storage of hydrogen without emitting
carbon dioxide using carbon capture and storage.
116
Japan’s Environment Ministry announced a model project to use surplus energy from renewable sources to produce
hydrogen.
117
Japan’s JX Nippon Oil & Energy plans to build a nationwide hydrogen fueling infrastructure to provide fuel for
FCEVs and other hydrogen-powered technologies. The company will develop 10 Japan-based hydrogen produc-
tion sites by 2020, including seven located at the company’s reneries. JX is also working to open 40 hydrogen
fueling stations, most located in the Tokyo area, by the end of FY2015.
118
The Gwangju Metropolitan City in Korea declared that it will aggressively foster the hydrogen fuel and fuel
cell automobile industry as its core and strategic industry. The plan includes developing technologies, installing
hydrogen fueling stations, and providing commercially-available FCEVs. As part of the action plan, Gwangju
established a fueling station at Jingok Industrial Complex for test operation.
119
The European Union (EU) adopted new rules to ensure the build-up of alternative refueling points, but dropped
proposed targets for the number of hydrogen stations and electric charging points that member countries must
install by 2020. Member states must set and make public their targets and present their national policy frameworks
by the end of 2016. In member states that opt for hydrogen fueling infrastructure, the directive aims at ensuring a
sufcient number of publicly accessible refueling points, with common standards, to be built by the end of 2025.
120
The EU’s Trans-European Transport Network (TEN-T) Program will develop national implementation plans for
Belgium, Finland, Poland and a regional implementation plan for Riga, Latvia, as well as deploy and test three
hydrogen refueling stations with innovative elements in Finland and Sweden.
121
Germany’s National Organization Hydrogen Fuel Cell Technology (NOW), Clean Energy Partnership, H2Mobility,
and Performing Energy reafrmed their commitment to the development of a German hydrogen fueling infrastruc-
ture by signing a declaration to invest €2 billion ($2.6 billion) over the next 10 years.
122
Daimler and the Linde Group are partnering with oil and gas companies TOTAL, OMV, Avia and Hoyer to increase
the number of hydrogen fueling stations in Germany. Daimler and The Linde Group will invest around €10 mil-
lion ($12.8 million) in 10 fueling stations each. In September, the rst of the Daimler and Linde-initiated public
hydrogen fueling stations opened at a TOTAL multi-energy fueling station in Berlin-Charlottenburg.
123
Linde also opened the world’s rst small-series production facility for hydrogen fueling stations in Vienna,
Austria.
125
The U.K. government unveiled a plan to provide up to £11 million ($17.4 million) to facilitate the roll-out of
FCEVs and a hydrogen refueling station infrastructure. The government will provide £7.5 million ($11.9 million)
in funding:
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
32
• £2 million ($3.2 million) to upgrade six to eight hydrogen stations that are already operational or are in
development, taking them from demonstration projects to publicly accessible sites;
• £3.5 million ($5.5 million) to be matched by industry for four to seven new hydrogen stations. This will
include mobile stations, stand-alone sites, and stations integrated into conventional gas station forecourts; and
• £2 million ($3.2 million) for public sector eets to encourage deployment of around 40 hydrogen FCEVs in
focused geographical clusters.
Industry will contribute £3.5 million ($5.5 million) to the U.K. effort.
Table 16. New, Planned and Upgraded Hydrogen Fueling Stations 2014
New, Planned and Upgraded Hydrogen Fueling Stations 2014
Supplier Station Site # of Stations Details
Air Liquide Connecticut,
Massachusetts, New
Jersey, New York, and
Rhode Island
12 To support 2016 FCEV introduction to the
northeastern U.S., Toyota and Air Liquide are
collaborating to develop and supply a phased
network of 12 state-of-the-art hydrogen stations.
States and locations have been strategically
selected in the greater New York and Boston areas
to provide the backbone of a hydrogen highway
for the northeast corridor.
Copenhagen, Aalborg
and Vejle, Denmark
4 Four stations are planned as part of the
Copenhagen Hydrogen Network. Two will be
located in Copenhagen.
Saint-Lô, France 1 Won a competitive bid launched by the Conseil
Général de la Manche to supply and install a
hydrogen filling station.
Torrance, California 1 A SmartFuel® branded station is located at Honda’s
R&D headquarters and was completed in just seven
months.
Air Products and
Chemicals, Inc.
New South Wales,
Australia
1 Working with Coregas to install a fueling station at
Hyundai’s Australian headquarters.
Heathrow, England 1 The existing station, which began operation in
2012, was upgraded for 350 and 700 bar refueling.
The Heathrow station is part of the Fuel Cells and
Hydrogen Joint Undertaking’s Hydrogen Transport
in European Cities (HyTEC) initiative and a part of
the London hydrogen refueling network within the
HyFIVE project.
Hendon, England 1 British supermarket chain Sainsbury’s announced
the U.K.’s first supermarket forecourt hydrogen
dispenser, located at its Hendon store. The 700-bar
SmartFuel® station is part of the London Hydrogen
Network Expansion project, backed by the U.K.
government and co-funded by Innovate UK.
33
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
California -- FirstElement Fuel has contracted with Air Products
to supply hydrogen fueling and fuel technology for
19 stations. See FirstElement Fuel’s entry, below,
for further details.
Hamburg, Germany 1 Station will be based on the company’s H2Station®
CAR-100 product and will include onsite
electrolysis production.
FirstElement
Fuel
Ontario, California 1 Awarded a contract to install a 700 bar hydrogen
fueling station at an existing "76" fuel and electric
charging location.
Various locations,
California
19 Awarded a $27 million grant from CEC to develop
the first phase of the California Hydrogen Network
(19 stations). Toyota also announced a $7.3 million
loan to FirstElement Fuel to support the operation
and maintenance of the stations. Air Products
will supply the hydrogen fueling technology and
hydrogen fuel for the 19 sites.
H2Logic,
Proton OnSite,
Hydrogenics
Los Angeles,
California
1 Located at the College of Engineering, Computer
Science, and Technology at California State
University. Hydrogenics’ HySTAT-30 electrolyzers
provide 65 kg of hydrogen per day.
Hydrogenics Swindon, England 1 Will provide a HySTAT™ 30 electrolyzer to be
installed as part of a fueling station at Honda
Motors’ Swindon, England plant. Solar energy
will power the electrolysis. BOC will operate the
station.
Aberdeen, Scotland 1 Working with BOC and providing three HySTAT™
60 electrolyzers for a large fueling station to
be constructed for Aberdeen City Council’s
Kittybrewster depot. The station is part of the
Aberdeen Hydrogen Bus Project and will fuel 10
fuel cell buses.
Aberdeen, Scotland 1 Will supply a turnkey 350/700 bar hydrogen
fueling station that will produce up to 130 kg of
hydrogen/day onsite using a HySTAT™ electrolyzer.
The station is part of the Aberdeen City Hydrogen
Energy Storage project and also includes a
HyPM®10-kW fuel cell.
Isle of Wight, England 4 Granted planning permission for four 80 kg/day
hydrogen refueling stations at four locations and
one 15kg/day marine hydrogen refueling station.
Tokyo and Aichi
Prefecture, Japan
2 Teaming with Seven-Eleven Japan Co. to open
convenience stores with hydrogen stations on
the premises. The two companies plan to open
two outlets in Tokyo and Aichi Prefecture in 2015.
Seven-Eleven will demonstrate using hydrogen
from the stations to generate electricity for the
stores.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
34
ITM Power West Sacramento,
California
1 Hydrogen fueling is located alongside other fueling
pumps at the Ramos Oil Company fueling station.
Iwatani Corp. Berlin, Germany 1 With partner, Daimler, developed hydrogen fueling
at a TOTAL multi-energy public fueling station.
Linde LLC Rotterdam, the
Netherlands
1 First hydrogen fueling station in Rotterdam.
Amagasaki, and other
locations in Japan
28 Finalized a deal with Iwatani Corporation for the
delivery of 28 hydrogen fueling stations with ionic
compressors. The first of these units is operating
in a station in Amagasaki near Osaka, Japan.
Berlin, Germany 1 TOTAL operates two hydrogen fueling pumps at
the Berlin-Brandenburg Airport, one for cars and
one for buses. Hydrogen is produced onsite via
a McPhy 500-kW alkaline electrolyzer, producing
more than 200 kg/day.
McPhy Gothenburg, Sweden 1 Will be open to the public in 2015 and located
next to the premises of fuel cell manufacturer
PowerCell.
Oy Woikoski Port of Finland 1 The Port of Helsinki deployed Finland’s first
commercial hydrogen station for private vehicles
and buses.
Unspecified Fort Armstrong,
Honolulu, Hawaii
1 DOE and the General Services Administration
are conducting a feasibility study for a $5 million
hydrogen fueling station that would serve as a
production concept that could be replicated at
other sites in Hawaii. The publicly accessible
station, which would include a rooftop solar
energy system and a small hydrogen production
and distribution station, would support fueling for
85 to 100 vehicles per day. The station could be
operational in the fourth quarter of 2017.
TOTAL 88+
Table 17 provides examples of commercially available hydrogen fueling stations. Hydrogen fueling stations may
use delivered hydrogen or may generate hydrogen onsite. The stations also include liquid or gaseous hydrogen
storage, a hydrogen compressor, and hydrogen dispensing equipment.
35
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Table 17. Examples of Commercially Available Hydrogen Fueling Stations 2014
Examples of Commercially Available Hydrogen Fueling Stations 2014
Company Product Application
Dispensing
pressure
Dispensing output/
day
Air Liquide France F Series Forklift 350 bar 20-200 kg/day
B200 Bus 350 bar 200 kg/day
C Series Car 700 bar 50-200 kg/day
Air Products and
Chemicals, Inc. U.S.
SmartFuel H70/
H35
Automotive 350 and 700 bar N/a
SmartFuel S150 Material handling
vehicles
350 bar Up to 100 kg/day
SmartFuel
S7000
Material handling
vehicles
350 bar More than 100 kg
day
H2 Logic Denmark H2 Station
CAR-100
Automotive 70 MPa fast-fill 50-100kg/day
H2 Station
MH-100
Material handling
vehicles
35 MPa 25-100 kg/day
Hydrogenics Canada HyStat™
Hydrogen
Station
Material handling
vehicles, cars
350 and 700 bar 22-130 kg/day and
larger
ITM Power U.K. HFuel Hydrogen
Station
Automotive 350 and 700 bar 5-92 vehicle
fuelings/day
Nuvera Fuel Cells U.S. PowerTap
Hydrogen
Station
Automotive 700 bar 50 kg/day
PowerTap
Hydrogen
Station
Industrial vehicles 350 bar 50 kg/day
Linde Germany Large, small
and portable
hydrogen
fueling stations
Car, bus, material
handling vehicles
350 and 700 bar N/a
Plug Power U.S. GenFuel Material handling
vehicles
350 bar N/a
Powertech Canada Modular
hydrogen
fueling station
Automotive 700 bar Up to 500 kg/day,
or more
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
36
Hydrogen Supply
Hydrogen supply activities expanded in 2014 to meet the growing demand of fuel cell and FCEV applications.
Airgas, Inc. announced plans to build a liquid hydrogen plant in Calvert City, Kentucky. The new facility is
targeted to be on-stream in the summer of 2016 with the capacity to produce 10 tons per day of liquid hydrogen for
use in a range of applications including fuel cells.
126
Plug Power signed a long-term hydrogen distribution agreement with Praxair, Inc. to offer Praxair hydrogen to
its customers throughout the U.S. who are using the company’s GenKey package, which includes both hydrogen
fueling and infrastructure.
127
Praxair is building a steam methane reformer to increase the supply of hydrogen for customers served from its liq-
uid hydrogen plant in Niagara Falls, New York. When completed in 2015, Praxair’s Niagara Falls liquid hydrogen
production capacity will be increased by 50%.
128
In addition to delivered hydrogen, hydrogen gas can also be generated onsite using a reformer or electrolyzer.
Table 18 shows commercial hydrogen generation systems and their manufacturers.
Table 18. Examples of Commercially Available Hydrogen Generation Systems 2014
Examples of Commercially Available Hydrogen Generation Systems 2014
Manufacturer Product Type Hydrogen Production
Acta S.p.A.
Italy
EL 250 Alkaline solid polymeric
electrolytic process
50 liters (l)/hr
EL 500 Alkaline solid polymeric
electrolytic process
500 l/hr
EL 1000 Alkaline solid polymeric
electrolytic process
1000 l/hr
Air Products and
Chemicals, Inc.
U.S.
PRISM® Reformer Onsite: 200-500 kg/day
Mobile: 50-150 kg/day
Hydrogen electrolyzer PEM or potassium hydroxide
electrolysis
Various quantities/day
Element 1
U.S.
H-Series Reformer 9.7-19.5 kg/day
S-Series Reformer 1.9-4.5 kg/day
NG-Series Reformer Depends upon customer
requirements
Hydrogenics
Canada
HySTAT Alkaline Electrolysis 8.6 kg-130 kg/day
HyLYZER PEM Electrolysis 1-2 Nm3/hr
HyGear
Netherlands
HyGEN 5 Reformer 5 Nm3/hr
HyGEN 50 Reformer 52 Nm3/hr
HyGEN 100 Reformer 104 Nm3/hr
37
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
ITM Power
U.K.
HPac 20 PEM electrolysis 2.5 kg/day
HPac 40 PEM electrolysis 5 kg/day
HFuel Hydrogen
Station
PEM electrolysis 25-462 kg/day
HGas PEM electrolysis 25-462 kg/day
McPhy
France
Baby McPhy Alkaline electrolysis 400 Nlt/hr
McLyzer Alkaline electrolysis 1-20 Nm3/hr
Large H2 production
units
Alkaline electrolysis 100-400 Nm3/hr
Nuvera Fuel Cells
U.S.
PowerTap Reformer 50 kg/day
Osaka Gas
Japan
HYSERVE-30 Reformer 30 Nm3/hr
HYSERVE-100 Reformer 100 Nm3/hr
HYSERVE-300 Reformer 300 Nm3/hr
Proton OnSite
U.S.
G Series PEM electrolysis 200-600 cc/min
G4800 PEM electrolysis 4800 cc/min
S Series PEM electrolysis 0.57-2.27 kg/day
H Series PEM electrolysis 4.31-12.94 kg/day
C Series PEM electrolysis 21.6-65 kg/day
M Series PEM electrolysis Up to 1000 kg/day
Power-to-Gas/Hydrogen Energy Storage
Power-to-gas (P2G) applications continued to grow, with new projects announced in Canada, Europe, Australia,
and Japan (Table 19). P2G uses surplus electrical energy, typically generated from wind or solar technologies, to
produce hydrogen by electrolysis. This hydrogen gas either “stores” the excess energy for later use or is injected
into existing natural gas supply pipelines, to generate power using a fuel cell or to supply vehicle fuel at hydrogen
refueling stations.
To assist the growing P2G market, DNV GL in Norway initiated the global HYREADY industry project to develop
guidelines for the preparation of transmission and distribution system operator networks for the injection of hy-
drogen produced from renewable sources. Stakeholders from the natural gas industry, including transmission and
distribution system operators, have signed up. The HYREADY initiative will encourage the industry to “Be ready
for Hydrogen” by developing practical processes and procedures for the introduction of hydrogen to the grid.
129
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
38
Table 19. Power-to-Gas/Hydrogen Energy Storage Projects Announced in 2014
Power-to-Gas/Hydrogen Energy Storage Projects Announced in 2014
Manufacturer
Deployment
Site
Details
Acta SpA Seville, Spain Clean technology company, Abengoa, installed an Acta electrolyzer hydrogen
generator at its Palmas Altas campus in a demonstration project. Electricity
produced by solar panels is converted into hydrogen by the electrolyzer and
stored onsite in metal hydride canisters. When required, the hydrogen is
converted back to electricity through a Ballard fuel cell.
AREVA La Croix
Valmer,
France
Signed a strategic partnership agreement with Schneider Electric to develop
fuel cell energy management and storage solutions. AREVA will provide the
Greenergy Box™ (an electrolyzer and fuel cell) which will be connected to
35-kW peak power photovoltaic panels. The companies also signed an R&D
agreement to develop a new energy storage solution, the flow battery, to
produce and store electricity by combining hydrobromic acid and hydrogen.
Hydrogenics Denmark Will install a 1-MW water electrolysis plant at one of the Denmark’s largest
wastewater treatment plants under the Power-to-Gas Biological Catalysis
(BioCat) project. Hydrogen, generated via electrolysis using surplus grid
electricity, will be combined with CO2 from raw biogas and fed into a separate
bioreactor where microorganisms will perform a catalytic reaction to produce
pipeline-grade renewable methane. Product gas will be injected into a nearby
gas distribution system.
Toronto,
Ontario,
Canada
Will supply PEM electrolyzers to a power-to-gas project that will deliver 2
MW of storage capacity. Hydrogenics is partnering with Enbridge to develop,
build, and operate the energy storage facility.
Canada Will supply a microgrid energy storage application in Canada, storing surplus
wind energy as hydrogen using a Hydrogenics electrolyzer. Hydrogen
will be stored onsite and converted back to energy when needed using a
Hydrogenics fuel cell system. When complete, the project will replace a diesel
generation system. Hydrogenics was awarded CA$3.8 million ($3.3 million)
for the project.
ITM Power Cardi,
Wales
Received a grant of £897,000 ($1.4 million) from Innovate UK’s Local Energy
Systems Scheme for the Hydrogen Enabled Local Energy Systems (HELES)
project, conducted in partnership with Cardi City Council. The project will
use a rapid response electrolyzer to generate solar PV hydrogen and inject the
hydrogen directly into a landfill gas engine.
Germany ITM Power won a competitive tender for the sale of a rapid response PEM
Power-to-Gas electrolyzer system from RWE Deutschland AG. ITM will supply
the plant with a two year warranty and is supplying a three-year after sales
support contract.
39
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
McPhy Energy Queensland,
Australia
Signed an agreement to sell an integrated production-storage solution to
Petawatt® Energy-Electrygen Pty Ltd., enabling Petawatt® Energy to complete
work to build its first sun, water, and wind land-based hydrogen energy
production system designed for both isolated and grid-connected sites
across Australia and Oceania. The first test system will be set up at Petawatt®
Energy’s client demonstration site in Queensland State, Australia, which will
be fitted with a small-capacity (4 kg) solid hydrogen storage solution, making
it possible to store 130 kW of energy.
Not specified Japan Japan’s Environment Ministry launched a 3 billion yen ($27 million) power-to-
fuel project to covert excess renewables into hydrogen, via electrolysis, for use
later in use in transport. The ministry will launch projects in several locations
in FY2015. Full-scale operation of these facilities is anticipated in three years.
Hydrogen storage RD&D continued in 2014, undertaken by both public and private entities.
A Sandia National Laboratories study, sponsored by FCTO, reported that large-scale storage of low-pressure,
gaseous hydrogen in salt caverns and other underground sites for transportation fuel and grid-scale energy applica-
tions offers both cost and volume advantages over above-ground storage. The researchers concluded that geologic
storage of hydrogen gas could make it possible to produce and distribute large quantities of hydrogen fuel for the
growing fuel cell electric vehicle market.
130
Hitachi Zosen Corporation and Daiki Ataka Engineering Co., Ltd. were selected to undertake research and devel-
opment of a low-cost hydrogen production system as part of the 2013 Technology Development for the Storage and
Transport of Renewable Energy program, organized by Japan’s METI. The program aims to reduce the costs of
power conversion and electrolysis, as well as to develop an energy carrier technology for the long-distance trans-
port and long-term storage of hydrogen at a price competitive with fossil fuels.
131
ITM Power secured a commercial contract from AMEC and National Grid to assess the cost and energy benet of
deploying P2G technology at specic sites on the gas network to reduce energy losses and increase system ef-
ciency. AMEC will undertake a third party assessment of the cost benet analysis.
132
In a new manufacturing partnership, AREVA, SMART ENERGIES through its subsidiary CETH2, and the
ADEME (French Environment and Energy Management Agency) joined to launch the AREVA H2-Gen joint ven-
ture to manufacture PEM electrolyzers for industrial applications and renewable energy storage markets, to supply
service stations with hydrogen for fuel cell vehicles, or to supply natural gas networks via P2G platforms.
133
The Thüga Group’s P2G project, located at the Mainova AG site in Frankfurt am Main, Germany, successfully
passed its rst annual reassessment, meeting every aspect of its specication including efciency, remote control
functionality and response time. The project includes a 300-kW rapid response PEM electrolyzer supplied by ITM
Power.
134
Hydrogen Regulations/Codes and Standards
After 13 years of testing and development with the international automotive and hydrogen industry, including
BMW, Daimler, Hyundai, and Toyota, the Society of Automotive Engineers (SAE) published J2601, “Fueling
Protocols for Light Duty Gaseous Hydrogen Surface Vehicles.” The standard will serve as the baseline for
commercial fueling at 35 MPa (300 bar) and 70 MPa (700 bar) and establishes safety limits and performance
requirements for gaseous hydrogen fuel dispensers. SAE also published J2799, “Hydrogen Surface Vehicle to
Station Hardware and Software,” which species the communications hardware and software requirements for
fueling Hydrogen Surface Vehicles and is intended to be used in conjunction with J2601 and J2600, “Compressed
Hydrogen Surface Vehicle Fueling Connection Devices.”
135
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
40
Japan’s METI passed several revisions to hydrogen fueling station regulations, making it easier to install and oper-
ate the stations:
136
• Hydrogen refueling stations can use composite storage tanks for the rst time in Japan, allowing the use of
materials like carbon ber-reinforced plastics.
• The temperature operating range of steel-based tanks has been expanded, making them less costly and easier
to install and maintain.
• Operators can transport and store liqueed hydrogen, which takes up less space than compressed hydrogen,
making it easier to transport and allowing stations to store greater quantities of the fuel. Hydrogen can be
compressed during the pre-lling and lling process.
• The concept of hydrogen freezing, or pre-cooling, was introduced to help cool FCEV tanks prior to refueling.
Pre-cooling a vehicle’s tanks enables a faster refueling time while curbing an increase in temperature of the
compressed gas due to adiabatic compression of the hydrogen as it passes from lling station tank into the
vehicle.
METI will also allow hydrogen tanks to be lled to a maximum pressure of 875 atmospheres (886 bar), up from
about 700 atmospheres (709 bar), which will extend fuel cell vehicle range by about 20% without refueling.
137
Toyota Motor Corporation received approval from METI to self-inspect and manufacture high-pressure hydrogen
tanks for FCEVs and is the rst company to become a registered manufacturer of 70 MPa (700 bar) hydrogen tanks
under Japan’s High Pressure Gas Safety Act.
138
In the U.S., researchers at the Department of Commerce’s National Institute of Standards and Technology (NIST)
developed a prototype eld test standard to test the accuracy of hydrogen fuel dispensers.
139
The U.S. Environmental Protection Agency (EPA) nalized their Renewable Fuel Standard Pathways II Rule,
which classies biogas as a transportation fuel feedstock rather than a fuel itself. Hydrogen generated from biogas
projects used to power FCEVs would be eligible for cellulosic renewable fuel credits.
140
Hydrogen Technology Advancements
Given the expected increase in the number of fuel cell vehicles in coming years, many 2014 technology develop-
ments centered on hydrogen for transportation. This was particularly true in Japan, where many RD&D efforts
focused on large-scale hydrogen production and the efcient transport of hydrogen for vehicle fueling and other
uses.
Kawasaki Heavy Industries Ltd. (KHI) established a plant that turns hydrogen into liquid fuel with one-800th the
volume of hydrogen gas, with the capability of producing about ve tons of liquid hydrogen a day. In two years,
KHI will begin sales of the plant to operators of steel factories that generate hydrogen as a byproduct. The com-
pany also intends to establish a mass production system and long-distance transport of liquid hydrogen before the
2020 Tokyo Olympic Games.
141
KHI will also conduct an experiment with Australia in which hydrogen will be extracted from low-grade Australian
brown coal using a catalyst. The hydrogen will be transported to Japan by sea. The company plans to establish a
small-scale system to supply hydrogen by 2020 and introduce six large ocean carriers in 2030.
142
Industrial plant engineering rm, Chiyoda Corp., has developed technology to convert hydrogen into toluene,
which can be transported commercially using ordinary tankers, and transform it back to hydrogen. Chiyoda hopes
to put the technology into practical use in 2020. Chiyoda has also developed a oating facility with Mitsubishi
Heavy Industries Ltd. to produce hydrogen from petroleum gas contained in undersea oil elds.
143
Industrial gas provider, Taiyo Nippon Sanso, is partnering with Toyota Tsusho and Sumitomo Mitsui Finance
and Leasing to in a new company that will operate mobile hydrogen fueling stations using Taiyo Nippon Sanso’s
equipment.
144
41
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Fujitsu launched a new hydrogen station data management service, the rst in Japan, which enables people to
access real-time information on the location and hours of operation of both xed and mobile hydrogen fueling sta-
tions via their car-navigation systems, smartphones, or other devices. The service became available to automakers
in December 2014.
For its Mirai FCEV, Toyota is providing a special application, Hydrogen Station List, for the navigation sys-
tem included in its T-Connect Data Communication Module package, as well as a “Pocket Mirai” smartphone
application.
145
Outside of Japan, Royal DSM of Singapore reported that a combination of two of its thermoplastics technologies
has resulted in high-performance pressure vessels that are well suited for use as lightweight fuel tanks for automo-
biles running on compressed natural gas or hydrogen. With a solution for both the inner liner and the outer tape
reinforcement, DSM is able to reduce the weight of the tank by up to 70%.
146
Quantum Fuel Systems Technologies Worldwide, in partnership with Linde North America, has developed a
specialized hydrogen dispenser system for 35 and 70 MPa service that, for the rst time, measures the mass of
hydrogen from a dispensing unit with connection to retail interface and user-friendly payment features. The
technology has received conditional approval for commercial service in California by the state’s Department
of Measurements and Standards. The system is in operation at a new hydrogen fueling station located in West
Sacramento, California.
147
Stationary Power
The stationary fuel cell market includes several sizes and sectors including large-scale systems for prime power,
backup power or combined heat and power, small systems for micro combined heat and power (m-CHP) for resi-
dential or commercial operations, and prime and backup systems for remote or essential applications such as data
centers and telecommunications towers. Systems can range from several kilowatts to multiple megawatts in size.
Table 20. Examples of Commercially Available Stationary Fuel Cells 2014
Examples of Commercially Available Stationary Fuel Cells 2014 - Prime Power and m-CHP
Manufacturer Product Type Output
Ballard Power Systems
Canada
ClearGen PEM Multi-500 kW power banks
Bloom Energy U.S. ES-5400 SOFC 100 kW
ES-5700 SOFC 200 kW
UPM-570 SOFC 160 kW
Ceramic Fuel Cells Ltd.
Australia
BlueGen SOFC 2 kW
Gennex SOFC 1.5 kW
Doosan Fuel Cell America
U.S.
PureCell System
Model 400
PAFC 400 kW
Elcore GmbH Germany Elcore 2400 SOFC 300 W
ENEOS CellTech Japan Ene-Farm PEM 250-700 W
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
42
FuelCell Energy U.S. DFC 300 MCFC 300 kW
DFC 1500 MCFC 1,400 kW
DFC 3000 MCFC 2,800 kW
DFC-ERG MCFC Multi-MW
Fuji Electric Japan FP-100i PAFC 100 kW
Panasonic Japan Ene-Farm PEM 200-750 W
Toshiba Japan Ene-Farm PEM 250-700 W
Prime Power
More than 81 MW of large stationary fuel cells were deployed or ordered in 2014.
FuelCell Energy (FCE) saw multi-MW sales in the U.S. and Korea, and continued its growth in the German market
with FuelCell Energy Solutions GmbH (FCES). The company now has Direct FuelCell® (DFC®) units operating
in nine countries in North America, Asia, and Europe.
In Korea, FuelCell Energy continued to strengthen its strategic relationship with POSCO Energy. In addition to
the 37+ MW sold or installed to POSCO in 2014 as outlined in the Table 21, the two companies reinforced and
enhanced their integrated global supply chain agreement. POSCO is also constructing a manufacturing facility in
Pohang, set to be operational in mid-2015, that will double FuelCell Energy’s global manufacturing capacity.
148
In
February, the Gyeonggi Green Energy fuel cell park, located in Hwasung City, became the largest fuel cell park in
the world (59 MW), comprised of 21 DFC3000® power plants to provide continuous baseload electricity to the
South Korean electric grid as well as heat for a district heating system.
149
FuelCell Energy also secured a multi-million dollar contract with a global
energy company in October to evaluate the potential integration of DFC®
power plants with combustion-based natural gas fueled processes.
150
In Germany, FCES received nearly €5 million ($6.4 million) in awards from
the Federal Ministry for Economic Affairs and Energy to support a three-year
research and development project between FCES and partner Fraunhofer
Institute for Ceramic Technologies and Systems (IKTS) to increase power
density and operating life of the DFC®system.
151
Table 21. Summary of FuelCell Energy Projects 2014
Summary of FuelCell Energy Projects 2014
Customer/Location Capacity Details
Federal Ministry of
Education and Research
Berlin, Germany
N/A FuelCell Energy Solutions installed a fuel cell power plant to supply
about 40% of the electricity needs of the oce complex and 20% of
its thermal requirements.
FuelCell Energy
Torrington, Connecticut
300 kW A tri-generation DFC-H2 plant will be installed at FuelCell Energy’s
facility to showcase production of electricity, heat, and hydrogen
for industrial applications. Supported by DOE’s Advanced
Manufacturing Oce.
In December, FuelCell Energy
reached three billion kWh of
power generation from its
fleet of DFC® power plants
in nine countries in North
America, Asia and Europe
since its first commercial
installation in 2003.
43
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Microsoft Cheyenne,
Wyoming
300 kW In November, Microsoft opened a fuel cell-powered mini-data center
to replicate a data center environment. The fuel cell generates
electricity using biogas from the adjacent Dry Creek Water
Reclamation Facility and provides about 200 kW of energy to power
the Data Plant’s 200 computer servers. Excess electricity from
the fuel cell is delivered back to the wastewater treatment plant to
reduce its electrical bills.
POSCO Energy Korea 3.7 MW Two 1.4-MW and three 300-kW fuel cell modules.
5.6 MW Four fuel cell modules.
8.4 MW Six fuel cell modules. These modules are in addition to the monthly
fuel cell kit shipments under an existing multi-year 122-MW order. In
total for fiscal year 2014 [11/1/2013 to 10/31/2014], POSCO Energy
has purchased 17.7-MW of fuel cell modules and 42 MW of fuel cell
kits.
19.6 MW Godeok Rolling Stock Management Oce fuel cell park in Seoul City.
United Illuminating (UI)
Bridgeport and New
Haven, Connecticut
5.6 MW (2.8
MW at each
site)
UI Is installing 2.8 MWs of fuel cell power plants at two of its sites –
Bridgeport and New Haven. The Bridgeport fuel cell will be located
at a former landfill site that will also include 2.2 MW of solar power
to create a renewable energy park. The New Haven fuel cell will
be located in the port area of the city near an electrical substation
owned by UI and will provide continuous power to the substation.
UIL Holdings Corp.
Glastonbury, Connecticut
2.8 MW UIL Holdings (parent company of UI) is purchasing a 3.4-MW fuel
cell plant that will be installed at a Connecticut Natural Gas Corp.
pressure reduction facility in Glastonbury. The plant includes a
2.8-MW fuel cell and a 600-kW turbo expander that will generate
renewable power by harnessing energy not used during the process
of reducing natural gas pressure. UIL will sell the electricity to
Connecticut Light & Power under a 20-year contract. Production will
begin in late 2015.
University of Bridgeport
Bridgeport, Connecticut
1.4 MW The fuel cell will be installed as part of a microgrid to power campus
buildings, including a dining hall, recreation center, student center,
police station, and two residence halls, and will supply approximately
80% of the campus power needs. The university buildings will serve
as an emergency shelter during power outages.
University of California,
Irvine Medical Center
Irvine, California
1.4 MW The fuel cell will generate about 30% of the facility power needs and
the excess heat produced will be used in a direct exhaust absorption
chiller to produce 200 tons of cooling for an oce building and
associated institutional requirements.
TOTAL 49+ MW
Chart based on publicly available data.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
44
Bloom Energy announced many installations of its SOFC systems during 2014, most in California, but also several
in other states: Connecticut, Maryland, New Jersey, and New York. The company also revealed two installations in
Japan.
Table 22. Summary of Bloom Energy Projects 2014
Summary of Bloom Energy Projects 2014
Location Capacity Details
Macerich/Danbury
Fair Mall, Danbury,
Connecticut
750 kW Will help to power to the 1.3 million-square-foot building.
Chino Valley Medical
Center, Chino, California
600 kW Reduces the facility’s carbon footprint by 22%.
DreamWorks Animation
SKG Glendale, California
750 kW Will provide 6 million kWh of electricity for the 6 acre campus and
460,000 square feet of oce space.
Exelon Corporation
California, Connecticut,
New Jersey and New York
21 MW Exelon is providing equity financing for 21 MW of fuel cell projects
for two customers (one being AT&T for nine sites) at 75 commercial
facilities in California, Connecticut, New Jersey, and New York.
Hines/LPL Financial San
Diego, California
500 kW The LPL Financial LLC headquarters, Tower II at La Jolla Commons, is
believed to be the largest net-zero energy commercial oce building
in the U.S. The surplus power generated is delivered back to the
grid.
JP Morgan Chase Newark,
Delaware
500 kW Powers about 10% of JPMorgan Chase’s 155-acre Christiana Center
Campus.
Keio University Fujisawa-
shi, Japan
200 kW Installed at the Delta building and powers the Delta and Tau
buildings. As the biggest risk for this research center is a power
outage, Keio was eager to implement energy redundancy by
installing Bloom fuel cells for the stable running of mission critical
activities.
Medtronic Santa Rosa,
California
400 kW Will provide 96% of the electrical requirement for the Fountaingrove
B building, while generating an estimated $2.3 million in energy
savings over 15 years.
Morgan Stanley Purchase,
New York
250 kW Located at the firm’s headquarters, the fuel cell system will constant
base load power to the facility, as well as grid-independent
electricity to power portions of the building’s critical load during grid
outages.
National Security Agency
(NSA) campus Fort
Meade, Maryland
1.6 MW No further details available.
Pacific Cheese Hayward,
California
300 kW No further details available.
45
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Santa Clara County,
California
2.6 MW Four fuel cell installations located at the county’s Government Center
(400 kW), Main Jail North (1 MW), Berger Service Center (400 kW),
Elmwood Correctional Facility (800 kW). Washington Gas Energy
Systems will finance, build, own, and operate the fuel cell system
and sell all energy generated to the County under a 20-year power
purchase agreement (PPA).
Disney Pixar Animation
Studios Emeryville,
California
1 MW No further details are available.
Panasonic Avionics Lake
Forest, California
750 kW Installed in the parking lot of Panasonic Avionic’s global
headquarters, the fuel cell provides 85% of the facility’s energy load.
SoftBank headquarters
Tokyo, Japan
200 kW Installed at SoftBank’s headquarters at the Tokyo Shiodome Building
in Tokyo, the fuel cell provides 14% of the building’s overall electricity
needs. The electricity generated is also used for electric vehicle
charging stations installed in the underground parking garage of the
building, and can also be directed to streetlights and public power
outlets in the case of an emergency.
Sutter Santa Rosa
Hospital, Santa Rosa,
California
375 kW Sutter Medical Center opened its newest $284 million dollar hospital,
Sutter Santa Rosa Hospital in October. The fuel cells generate about
70% of the hospital’s electricity needs. The total output of electricity
will be about 3 million kWh annually. The hospital plans to buy
natural gas from Pacific Gas & Electric (PG&E) and sell back any
excess electricity.
Yahoo! Sunnyvale,
California
1 MW Fuel cell provides one-third of the electricity for the campus.
TOTAL 32+ MW
Chart based on publicly available data. It includes installations from 2013 made public in 2014 and not included in the 2013
report.
In other SOFC news, a new European Union project, Solid Oxide Cell Testing, Safety and Quality Assurance
(SOCTESQA), will develop new uniform and industry wide test procedures for high temperature solid oxide fuel
cells by gathering the experience and the methodology gained by European research institutes, plus input from the
industry on requirements from different applications. The consortium will make a complete set of application-
specic test procedures addressing function, performance, durability, and degradation.
152
Dominovas Energy Corporation (U.S.) signed an MOU with Delphi Automotive Systems LLC to jointly develop
new technology that will facilitate the manufacture, assembly, sale, and deployment of electrical power generation
equipment using SOFC technology.
153
U.K.-based AFC Energy, a manufacturer of alkaline fuel cell systems, had several new partnerships arise in 2014,
including:
• A non-binding MOU with Allied New Technologies Inc. to conduct a feasibility study for a fuel cell system to
generate clean energy from surplus hydrogen produced at Allied’s chlor-alkaline plant in Florida. The MOU
marks AFC Energy’s rst move into the U.S. market.
154
• A new cooperation agreement with Waste2Tricity International Ltd. and Alter NRG Corporation to focus on
incorporating fuel cell systems in proposed energy-from-waste projects in Thailand.
155
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
46
• A Heads of Agreement with South Korean company Daniel Inc. for an initial 1-MW fuel cell system that will
be installed at Daniel’s facility and use a mixture of liqueed natural gas and biomass gas. The agreement
includes a follow-on option for an additional 3-MW project that could increase the value of the contract to
approximately $15 million.
156
• An MOU with Chang Shin Chemical Co., for the supply of multiple fuel cell systems with a total potential
generating capacity of up to 5 MW.
157
Other projects announced in 2014 include the following:
• GEI Global Energy Corp. received a purchase order from Lynntech, Inc. for a biogas fuel cell power gen-
eration system that will provide hydrogen fuel to a high temperature PEM fuel cell stack. The GEI fuel
cell system will extract hydrogen from a bio-methane fuel produced via a proprietary biogas generation
technology.
158
• NovoFuel, Inc., a wholly-owned subsidiary of AlumiFuel Power Corporation, completed the design of a
Renewable Energy System to power lights, heat, air conditioning, dehumidiers, driers, and other ancil-
lary equipment for indoor facilities, and massive irrigation for legal outdoor marijuana growing locations.
These integrated RES components include mini-wind turbine systems, solar panels, batteries, and hydrogen
fuel cells – all integrated by a real-time microgrid energy management and control system.
159
In late
2014, NovoFuel nalized a series of strategic partnerships related to the development and installation of a
Michigan-based renewable energy project within the cannabis industry.
160
• As part of the EU project, Biogas2 PEM-FC, PowerCell, working with partners from Spain, Greece, Sweden,
and the U.K., developed a three-part subsystem at an olive mill in Andalucía that includes the reprocessing
of waste from olive oil production, biogas production from waste, reforming of biogas, and a fuel cell power
generation system that will utilize the reformate gas, converting it to electricity and heat that can be used by
the olive mill. The project is now in its nal stage and a complete pilot plant has been built and tested on the
cooperative of San Isidro de Loja, Granada.
161
• VTT Technical Research Centre of Finland developed a pilot-scale fuel cell power plant that produces elec-
tricity from hydrogen generated as a by-product of a sodium chlorate process at the Kemira Chemicals’ site in
Finland and is the rst of its kind in the Nordic Countries.
162
With the increase of large-scale stationary fuel cell sales and deployments, several energy companies have taken on
the role of nancier, providing funding for installations.
• Energy provider Exelon Corporation is providing equity nancing for 21 MW of Bloom Energy fuel cell
projects at 75 commercial facilities in California, Connecticut, New Jersey, and New York.
163
The customers
include AT&T, which will use the fuel cells to power operations at nine sites. Exelon will nance Bloom
Energy projects through Bloom Electrons™, a service that allows customers to buy power as a service, rather
than purchasing the equipment directly.
• NRG Energy extended a $40 million revolving construction and term nancing facility for the purpose of
accelerating project development by FuelCell Energy and its subsidiaries.
164
In addition, XL Group’s Complex Accounts unit, Munich Re’s Green Tech Solutions team, and consultants New
Energy Risk, have teamed to deliver a performance insurance policy for a portfolio of fuel cell servers installed
across the U.S. The insurance covers critical support for project nancing by insuring the fuel cells’ performance
over 15 years, should the manufacturer be unable to meet its warranty obligations. The $99 million bond issued
to help nance the portfolio of servers was granted investment grade rating, which resulted in notable nancing
efciencies.
165
Micro Combined Heat and Power
Micro combined heat and power fuel cell systems generate power and heat for residential or other smaller-scale
applications. PEMs and SOFCs are the two main types of fuel cells used in m-CHP applications. Hundreds of
47
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
m-CHP fuel cells have been deployed in Europe in eld trials, and more than 100,000 fuel cells have been sold to
power Japanese homes. A number of new projects and sales were announced in 2014.
Panasonic reports that Japan’s stationary fuel cell market continues to develop, with more than 40,000 Ene-farm
units sold during 2014 (compared to 26,000 units sold in 2013). By September 2014, the Ene-farm program had
cumulatively sold about 100,000 units since sales began in 2009. Panasonic also offered a condominium Ene-Farm
model for Japanese market in 2014. In April, Panasonic started sales of a fuel cell model for Europe in Germany,
in a partnership between German heating and renewable energy systems company Viessmann.
166
GDF SUEZ installed two residential CHP fuel cells in the towns of Hagenau and MunschHausen in eastern France
in April, the rst project of its kind to be completed anywhere in the country. The Group plans to install around
30 systems in French homes and ofces by summer 2015. Manufactured by BAXI, the rst two fuel cells were
installed in recently-built houses, with installation and maintenance support from DeDietrich. Three more instal-
lations were planned in new-build homes. The fuel cells were installed as part of the European ene.eld project,
which will eventually install 1,000 fuel cells in homes in 12 European countries.
167
Ceramic Fuel Cells Ltd. (CFCL) announced the commencement of the rst fully funded BlueGEN program, where
the end user doesn’t pay for the fuel cell installation, just the cost of gas and maintenance. The program, compris-
ing a 100-kW eet of BlueGENs (a minimum of 65 units) is targeted primarily at public sector organizations and
will be run by one of CFCL’s U.K. distributors, iPower.
168
CFCL also received an order for 100 BlueGEN units from Avilos GmbH on a take-or-pay basis to sell to private
and small commercial customers.
169
In addition, CFCL reported that it has achieved a reduction of up to 70% of the average degradation rate experi-
enced in its BlueGEN product. These improvements were validated via in-house and eld testing as well as at a
EWE, a current BlueGEN customer, site.
170
With funding of £230,000 ($364,000) from U.K.’s innovation agency, the Technology Strategy Board, fuel cell
manufacturer Ceres Power and engineers from Lancaster University are collaborating on the development of low-
cost, intermediate-temperature SOFC technology for m-CHP.
171
Ceres Power and DEK, a U.K.-based global provider of screen printing equipment and processes, were awarded
£0.7 million ($1.1 million) by the Technology Strategy Board’s Fuel Cell Manufacturing and the Supply Chain
collaboration initiative. The award co-funds a £1.1 million ($1.7 million) collaboration project that will combine
DEK’s photovoltaic manufacturing processes with Ceres’ existing manufacturing capability to scale up production
in response to growing market opportunities.
172
Ceres Power signed a next-stage Joint Development Agreement with a Japanese power systems company following
extensive testing both in the U.K. and Japan. The non-exclusive agreement enables the companies to combine their
respective engineering and R&D expertise to produce a jointly developed Steel Cell SOFC stack using Ceres’ Steel
Cell technology. The stacks will be supplied from Ceres manufacturing facility in the U.K. followed by system
level testing in Japan.
173
Backup and Remote Power
Fuel cells provide reliable backup power for telecommunications networks which, in many cases, are located in
remote areas without a developed power infrastructure. The backup and remote power fuel cell markets continued
to grow in countries such as India and Africa and 2014 saw new partnerships between fuel cell manufacturers and
companies in the Middle East and China.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
48
Table 23. Summary of Ballard/Dantherm Projects 2014
Summary of Ballard/Dantherm Projects 2014
Location # of Units Details
AECi Philippines 20 Methanol-fuelled ElectraGen™-ME backup power systems were
installed on rooftop locations in Manila for Globe Telecom.
Eskom, Anglo American
Platinum South Africa
1 A 12-month field trial of a 5-kW ElectraGen™-ME fuel cell in an o-
grid residential application in the rural community of Naledi Trust.
The fuel cell will be integrated with a battery bank and inverter to
operate within a micro-grid to power 34 rural homes, with monthly
delivery of liquid methanol fuel to an external storage tank.
Cascadiant Pakistan N/a Conducted a successful Mobile Energy Eciency Optimization
field trial with Warid Telecom and the Global System for Mobile
Communications Association trialing ElectraGen™-ME systems at a
number of Warid Telecom network sites. Fuel theft was reduced and
reliability improved with the fuel cell system, both of which positively
impacted operating cost of the network site.
Precision Power & Air
Caribbean
13 Methanol-fuelled ElectraGen™-ME backup power systems were
deployed at critical sites in the Digicel Group Limited’s network in
Jamaica, bringing the total number for Digicel to 25.
TOTAL 34
Chart based on publicly available data.
Ballard sold approximately 400 kW of its FCgen™-1300 fuel cell stacks to M-Field Energy Ltd. of Taiwan to
integrate into multiple 100-kW fuel cell systems to provide baseload power in combination with wind turbines
or photovoltaic power as part of a complete hybrid renewable energy solution. These systems will be deployed
throughout Asia.
174
Italian company Acta S.p.A entered into a cooperation agreement with ReliOn for the product launch and North
America marketing/promotion of a new Acta Power backup power system incorporating ReliOn’s fuel cell sys-
tem.
175
Acta also formed a product development partnership with Dantherm Power A/S to develop a self-recharg-
ing fuel cell backup power system for remote areas in colder climates. The system will integrate Acta’s EL 1000
electrolyzer with Dantherm’s fuel cell backup power system and then deploy on an island location near the Arctic
Circle, where it will be powered by a wind turbine.
Acta sold an additional three fuel cell systems to SEFCA Pty Ltd, its Australian distributor, for use by one of
Australia’s largest mobile phone operators. The three Acta systems will each incorporate a ReliOn fuel cell module
with a power output of 2.5 kW.
176
Acta also received an order for two of its systems for a renewable power storage
application in Chiang Mai, Thailand. The systems, which have a combined power output of 4 kW, will be installed
at a low-carbon residential and tourist development project to provide a secure and grid-independent source of
power with renewable energy storage.
177
In September, an Acta system successfully supplied electricity to a mobile telecommunication base station in Cairo,
during a city-wide electricity outage that caused major disruption for almost 12 hours, including taking more than
2,000 mobile phone towers ofine.
178
In March, German company Heliocentris Energy Solutions AG announced it will replace diesel generators at 25
digital radio base stations owned by BOS Digitalfunk in the German state of Brandenburg with its fuel cells in a
€1 million ($1.3 million) deal.
179
The company also received a follow-up order for 30 units from the Emirates
49
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Integrated Telecommunications Company, “du”, in the Middle East, which has already deployed 100 Heliocentris
units on its network.
180
In June, Heliocentris acquired FutureE Fuel Cell Solutions GmbH, a company focused on the telecommunications
industry.
181
In August, FutureE entered into a master distribution agreement with a Beijing IT banking solutions
provider to market its Jupiter fuel cell systems to Chinese banking customers. The contract aims for delivery of at
least 300 in 2015 with a potential sales value of €12 million ($15 million).
182
U.K. fuel cell manufacturer Intelligent Energy entered into several collaboration agreements with companies in
India in 2014, including:
• Microqual Techno Limited – an exclusive 15-year agreement to provide Intelligent Energy’s fuel cell power
solutions to Microqual-installed mobile telecom base station equipment on existing electricity transmission
towers.
183
• Ascend Telecom Infrastructure Private Limited – multi-year agreement to provide advanced power solutions,
including fuel cell power systems, to reduce both operating costs and the carbon footprint relative to the cur-
rent traditional diesel generators used to power India’s telecom tower network.
184
• Hydro Industries – collaboration with Intelligent Energy’s subsidiary Essential Energy, to support the com-
mercialization of Hydro’s water purication technology across India. The partnership could result in Hydro’s
technology being powered by Intelligent Energy’s fuel cells and deployed at thousands of sites over the next
ve years.
185
In April, Communication Infrastructure Corp. (CIC) installed two Plug Power ReliOn E-200 fuel cell systems to
provide primary power to a remote microwave relay site with two microwave radios.
186
The equipment’s power
requirements can be met for 17-19 days by the fuel cell system without being refueled and that window could be
pushed to 21 days if a storm prevented access during the normal refueling window.
In December, Plug Power executed a $20 million, multi-year contract for its ReliOn integrated fuel cell solution
and GenFuel hydrogen services with a major North American telecommunications provider for use in the cus-
tomer’s wireless network. In January 2015, the telecommunications company was revealed to be SouthernLINC
Wireless.
187
Through this contract, Plug Power anticipates supporting as many as 500 new sites.
188
First Element Energy partnered with Fuel Cell Solutions to install a PEM hydrogen fuel cell at La Universidad
APEC (UNAPEC) in the Dominican Republic. The fuel cell is installed on the Engineering campus at
UNAPEC.
189
First Element Energy was also involved in a feasibility study and pilot project, partially funded by the USTDA,
for Jiangsu Communications Services Company, Ltd. to evaluate fuel cell applications for busload and off-grid
power within the telecommunications infrastructure in China.
190
The pilot portion consisted of installation of
First Element Energy’s fuel cell units at two sites. The rst unit, which is fueled by compressed hydrogen gas, was
successfully tested and approved by a major Chinese carrier. The second system uses a mixture of liquid methanol
and water as fuel. The company also has a hydrogen fuel cell project in China providing 15 kW AC voltage for
a railroad, as well as methanol-powered fuel cell telecom projects in Indonesia and the Philippines (2.5 and 5-kW
systems), and India (2.5 kW systems).
Fuel cells were also deployed in a variety of other backup and remote applications.
BOC provided two of its Hymera portable hydrogen-fueled fuel cells to power a week-long live radio broadcast of
visiting and local artists, called Remote Performances, from a remote tree-house studio in Glen Nevis, Scotland.
191
In 2014, SFC Energy AG introduced new products and features:
• The EFOY ProCabinet fuel cell power solution designed for demanding industrial applications in arctic
conditions.
192
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
50
• The EFOY Pro fuel cell power systems for oil and gas applications added a new intelligent, secure, remote
support, control, notication and data acquisition/logging feature, jointly developed by SFC Group member
Simark Controls and Semaphore.
193
• In June, TÜV SÜD Product Service GmbH certied SFC’s environmental management system according to
International Organization for Standardization (ISO) 14001:2004.
194
The rst EFOY ProCabinet systems were developed to power off-grid oil and gas devices in the extreme cold and
are already in operation across Canada. To support these units and future sales, SFC Energy has opened a new ser-
vice center and warehouse in Calgary, Canada, at the head ofce of SFC Energy Group member Simark Controls,
which helped develop the fuel cell system.
SFC’s EFOY Pro fuel cells also provided temporary power to the obstruction lights of wind turbines during the
construction phase of wind energy plants. SFC is working with Windkraft Service GmbH, Lutherstadt Eisleben,
which leases the systems to the wind energy plant companies for powering obstruction lights during the plant
construction phase.
195
In other SFC news, the company received a €400,000 ($510,200) order from Singapore-based Innoverde that uses
EFOY Pro fuel cell generators and solar modules for its integrated hybrid power solution to power closed circuit
television for various applications, including construction sites.
196
Toshiba and the Kawasaki municipal authorities in Japan announced plans to combine a fuel cell, a 25-kW solar
array, and a lithium ion battery into an independent energy demonstration system to provide electricity during
emergencies. The system will be tested from April 2015 through the end of scal year 2020 and will be located
at an emergency evacuation area near the Kawasaki port and able to supply power and hot water to roughly 300
people.
197
Table 24. Examples of Commercially Available Backup and Remote Power Fuel Cells 2014
Examples of Commercially Available Backup and Remote Power Fuel Cells 2014
Manufacturer Product Name Type Output
Acta S.p.A.
Italy
Acta Power PEM 2 kW & 4 kW
Ajusa
Spain
NOIL 5000 AC UPS PEM 5 kW
Acumentrics
U.S.
RP250P-LITE SOFC 250 W
RP250/RP500 SOFC 250 W/500 W
RP1000/RP1500 SOFC 1 kW/1.5 kW
Altergy Systems
U.S.
Freedom Power™ PEM 500 W, 1 kW, 5 kW & 7.5 kW
Axane
France
CommPAC 500™ PEM 500 W-10 kW
Ballard Power Systems
Canada/Dantherm Power
Denmark
FCgen-1020ACS PEM 1.5-3.6 kW
FCgen-1300 PEM 2-11 kW
ElectraGen-ME PEM 2.5 & 5 kW
ElectraGen-H2 PEM 1.7, 2.5 & 5 kW
51
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
PowerCell
Sweden
S1 PEM 3 kW
Electro Power Systems
S.p.A. Italy/VP Energy,
LLC
U.S.
Electro™, ElectroSelf™ PEM 1.5 kW-10 kW
First Element Energy
U.S.
Air-cooled/Water-cooled PEM 2 kW-25 kW
Heliocentris Fuel Cells AG
Germany
Nexa 1200 PEM 1.2 kW
Horizon Fuel Cell
Technologies
Singapore
H-Series PEM 10W-5 kW
Ecobox-MR PEM 1-10 kW
GreenHub Powerbox PEM 500 W-2 kW
Hydrogenics
Canada
HyPM XR Power Modules PEM 4.5 kW-12.6 kW
HyPM Rack PEM 2-200 kW
Intelligent Energy U.K./
Essential Energy
India
Air-cooled PEM 5 kW
Oorja Fuel Cells
U.S.
Model T DMFC 1.5 kW
ReliOn, a Plug Power
Company
U.S.
E-200 PEM 175-525 W
E-1000x PEM 1-4 kW
E-1100 PEM 1.1-4.4 kW
E-1100v PEM 1.1 kW
E-2200x PEM 2.2-17.5 kW
E-2500 PEM 2.5-20 kW
T-2000 PEM 100 W-6 kW+
SFC Energy
Germany
EFOY Pro 800 DMFC 45 W
EFOY Pro 2400 DMFC 110 W
EFOY ProCube DMFC hybrid Depends on configuration
EFOY ProEnergyBox DMFC hybrid Depends on configuration
EFOY ProCabinet DMFC 90 W
UltraCell U.S. XX25 RMFC 50 W
Blade 50 RMFC 50 W
Blade 0-165 RMFC 75, 100, and 150 W
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
52
Micro Fuel Cells
Following up on its launch of its Upp™ fuel cell personal energy device in 2013, Intelligent Energy announced
new distribution and sales partners in 2014, including:
• U.S. retailer Brookstone;
199
• Apple stores across the U.K.;
200
• Telecommunications services supplier Sure stores across the Channel Islands and the Isle of Man;
201
and
• U.K. parcel exchange hub, Doddle, for cartridge exchange.
202
In November, the Upp™ was named a 2015 Consumer Electronics Show (CES) Innovation Awards Honoree by the
Consumer Electronics Association.
203
Neah Power Systems Inc. began shipping its BuzzBar Suite of products in August, and also completed both Federal
Communications Commission (U.S.) and CE (EU) certications.
204
AK GlobalTech unveiled a new alcohol sensor breathalyzer product, the AlcoMate Revo, which includes a fuel cell
sensor.
205
Military
NexTech Materials, Ltd. received a Phase II SBIR contract from the U.S. Army Tank Automotive Research,
Development and Engineering Center (TARDEC) to design, develop and demonstrate a SOFC stack to be integrat-
ed into a 10-kW scale APU for military ground vehicles. In Phase I, NexTech incorporated its sulfur-tolerant anode
technology into its stack design to enable use with military logistic fuels. In Phase II, NexTech will build and test
these stacks to validate its design against key military specications. Additional engineering efforts will focus on
reducing stack weight and volume, improving stack efciency, and increasing sulfur tolerance. The project will
culminate with the delivery of a 10-kW stack to the Army for testing and evaluation.
206
The Ofce of Naval Research (ONR) selected UTC Aerospace Systems to proceed with the next phases of the
Long Endurance Undersea Vehicle Propulsion energy program. UTC Aerospace Systems will continue the design
and development of a PEM-based fuel cell energy system for a 21-inch diameter unmanned undersea vehicle.
207
In the previous phase, the system operated successfully for over 30 hours using an integrated cryogenic reactant
system and fuel cell power plant to provide 42 kWh of total energy over a power range of 100 to 3800 W.
UltraCell unveiled its BLADE Fuel Cell Power System for professional and military customers. The company also
announced that after development and eld testing in extreme conditions, its XX55 fuel cell system exceeded Air
Force requirements for meantime between failures and cycling.
208
Neah Power Systems, Inc. is partnering with Silent Falcon UAS Technologies to integrate the Formira™, formic
acid fuel cell reformer into the Silent Falcon UAV.
209
The U.S. Navy is working with the Japanese Defense Ministry to develop a 30-ft. fuel cell-powered unmanned
underwater vehicle (UUV) that would be capable of conducting undersea surveillance activities for 30 days.
210
The Ministry plans to spend about ¥2.6 billion ($23.6 million) for the project during a four-year period through
scal 2018.
Materials/Components/Testing
ElectroChem introduced its new compact liquid-cooled PEM fuel cell stacks (500-1,500 W) with MEAs to under-
stand the effect of reactant gas supply on power generation, and the effect of heat and water in the performance.
211
Toray Industries’ carbon ber material will be used for a range of parts in Toyota Motor Corporation’s Mirai FCEV.
In particular, Carbon Fiber Reinforced Thermoplastics will be used in a stack frame part, equivalent to the vehicle
53
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
oor. Toray also supplied carbon paper for the electrode substrate of fuel cell stack and a high strength carbon ber
for the high pressure hydrogen tank.
212
University News
Researchers at universities around the world, both staff and student, made news in 2014 with technical advance-
ments in materials, stacks, systems, and fueling for the fuel cell and hydrogen industry.
• Binghamton University (New York): The University broke ground on a $70 million, 114,000-square-foot
Smart Energy Research and Development Facility at the campus’ Innovative Technologies Complex. The fa-
cility, scheduled for completion in 2017, will house the physics and chemistry departments and plans include
installing a fuel cell to produce electricity at a reduced cost to heat and cool the building. Fuel cells will also
be part of the research conducted at the facility.
213
• Georgia Institute of Technology: Researchers developed a new type of low-temperature fuel cell that directly
converts biomass to electricity with assistance from a catalyst activated by solar or thermal energy. The
hybrid fuel cell can use a wide variety of biomass sources, including starch, cellulose, lignin, switchgrass,
powdered wood, algae, and waste from poultry processing.
214
• Michigan State University: Researchers developed a new fuel cell concept that allows biodiesel plants to
eliminate the creation of hazardous wastes while removing their dependence on fossil fuel from their produc-
tion process.
215
• Northwestern University (Illinois): Engineers invented inks that a 3-D printer can use to create the individual
components of a solid oxide fuel cell, the cathode, anode, electrolyte, and interconnects.
216
• Rice University (Texas): Researchers combined graphene quantum dots from coal with microscopic sheets of
grapheme to create a hybrid material that outperforms and is less costly than platinum/carbon hybrid catalysts
used in some types of fuel cells.
217
• Rice University (Texas): Scientists have turned molybdenum disulde’s two-dimensional form into a nano-
porous lm that can catalyze the production of hydrogen or be used for energy storage.
218
• University of New Mexico: In December, UNM received a “Top 10 Innovation” award at the inaugural
conference of the Innovation for Cool Earth Forum held in Tokyo, Japan, for an novel method for making
non-platinum-based fuel cells jointly developed with Daihatsu Motor Co., Ltd.
219
• University of Utah: A professor developed a fuel cell which can convert jet fuel to electricity at room tem-
perature without igniting the fuel, using enzymes as catalysts in the reaction.
220
• Washington State University: A team from WSU won the Hydrogen Education Foundation’s 2014 Hydrogen
Student Design Contest. The contest, supported by DOE, challenged teams to design a transportable, contain-
erized, cost-effective hydrogen fueling station solution for areas of initial low demand.
221
• Banaras Hindu University (India): Researchers at the Hydrogen Energy Center have discovered that carbon-
ized coconut esh can serve as a hydrogen storage medium.
222
• Universiti Teknologi Mara (UiTM) Malaysia: A team from UiTM Malaysia won both the Urban Concept
and Prototype categories at the 2014 Shell Eco Marathon Asia which took place in the Philippines using fuel
cells from Horizon Fuel Cell Technologies.
223
The second place participant, Universiti Kebangsaan Malaysia
(UKM), also used Horizon hybrid technology in the contest that drew more than 100 teams from top universi-
ties and Engineering institutes all over Asia.
• École polytechnique fédérale de Lausanne (EPFL) (Switzerland): EPFL researchers combined solar cells
made with a mineral called perovskite and low cost electrodes to achieve a 12.3% conversion efciency from
solar energy to hydrogen, a record using earth-abundant materials as opposed to rare metals.
224
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
54
• University of Manchester (U.K.): Researchers suggests that the use of graphene or monolayer boron nitride
can allow the existing membranes to become thinner and more efcient, with less fuel crossover and poison-
ing, boosting the competitiveness of fuel cells. The Manchester group also demonstrated that their one-atom-
thick membranes can be used to extract hydrogen from a humid atmosphere.
225
Reports and Studies
DOE’s FCTO released the latest edition of the report, Pathways to Commercial Success: Technologies and
Products Supported by the Fuel Cell Technologies Ofce, which shows that FCTO’s R&D efforts over the last
decade have resulted in more than 500 patents, 45 commercial technologies that have entered the market, and
65 technologies that are projected to be commercialized within three to ve years (as of November 2014). These
include fuel cell systems and components as well as hydrogen production, delivery, and storage technologies.
Safety, Codes and Standards for Hydrogen Installations: Hydrogen Fueling System Footprint Metric Development,
published in April 2014 by Sandia National Laboratories, examined 70 commercial gasoline stations in the state of
California and sought to determine which, if any, could integrate hydrogen fuel at their sites based on the National
Fire Protection Association (NFPA) hydrogen technologies code published in 2011. The study found that 14 of the
70 gas stations involved in the study could readily accept hydrogen fuel and that 17 more possibly could accept
hydrogen with property expansions.
NREL published Zero Emission Bay Area (ZEBA) Fuel Cell Bus Demonstration Results: Third Report, BC Transit
Fuel Cell Bus Project Evaluation Results: Second Report, BC Transit Fuel Cell Bus Project: Evaluation Results
Report, Fuel Cell Buses in U.S. Transit Fleets: Current Status 2014, and Fuel Cell Bus Evaluations.
The California Air Resources Board (ARB) published the Annual Evaluation of Fuel Cell Electric Vehicle
Deployment and Hydrogen Fuel Station Network Development, Pursuant to AB 8, Statutes of 2013.
The California Fuel Cell Partnership (CaFCP) published the Hydrogen Progress, Priorities and Opportunities
report that reviewed its progress toward roadmap goals and denes important next steps to create a 100-station
hydrogen network in California.
The CaFCP also published Air Climate Energy Water Security: a guide to understanding the well-to-wheels impact
of fuel cell electric vehicles, which summarizes the most common vehicle/fuel pathways in California.
The NextSTEPS (Sustainable Transportation Energy Pathways) Program at the University of California, Davis
Institute of Transportation Studies (ITS-Davis) published a white paper, The Hydrogen Transition, which details
the convergence of new factors propelling an international market rollout of hydrogen fuel cell vehicles.
The Business Case for Fuel Cells 2014: Powering the Bottom Line for Businesses and Communities, written and
compiled by Breakthrough Technologies Institute (BTI) with support from DOE, was published in November. The
report provides an overview of fuel cell installations at businesses and municipal buildings or facilities run by non-
prot organizations or institutions. These include wastewater treatment plants, government buildings, universities,
military bases, hospitals, and other sites.
State of the States: Fuel Cells in America 2014, the fth edition of this report series, also written by BTI and
partially funded by DOE, provides details on the fuel cell and hydrogen progress and activities of the 50 states and
District of Columbia and includes in-depth proles of policies, initiatives, and installations that have contributed to
the fuel cell industry in specic states, the country, and the world.
The New York State Renewable Portfolio Standard Annual Performance Report Through December 31, 2013
was released in March 2014 and reports that, under the Customer-Sited Tier, small fuel cells were installed at 19
sites between 2007 and December 31, 2013, comprising 187-kW of installed capacity, and large fuel cells were
installed at two sites comprising 600-kW of installed capacity. Additional fuel cells are planned under the Main
Tier component of the program, with ve fuel cell facilities, totaling 3.2 MW of power, expected to be in operation
by December 31, 2014. The report notes that, since Superstorm Sandy, there has been a resurgence of applications
55
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
for large-scale fuel cells, with eight applications for $1 million each on track for implementation. There has also
renewed interest in emergency backup power fuel cells – the 19 backup power fuel cells installed during the
program’s early years played a role in keeping communications open during Superstorm Sandy for both residents
and emergency responders.
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
56
Appendix 1: Compilation of Companies in this
Report with Commercially Available Fuel Cell
Products
Companies with Commercially Available Fuel Cells 2014
Company Company
Type
Headquarters Annual
Manufacturing
Capability
# of
Employees
Fuel Cell
Type
Applications
Acta S.p.A. Public - AIM:
ACTA.L
Italy 2.4 MW 60 PEM Backup/
remote
Ajusa Private Spain N/a N/a PEM Backup/
remote
Acumentrics Private U.S. N/a N/a SOFC Backup/
remote
Altergy
Systems
Private U.S. N/a N/a PEM Backup/
remote
Axane Subsidiary of
Air Liquide
France N/a N/a PEM Backup/
remote
Ballard Power
Systems
Public -
NASDAQ:
BLDP,
TSX:BLD
Canada >150 MW 400 PEM Transport,
MHE,
stationary,
backup/
remote
Bloom Energy Private U.S. N/a N/a SOFC Stationary
Ceramic Fuel
Cells Ltd.
Public -
AIM:CFU,
ASX:CFU 2015
– Company is
in liquidation
Australia N/a N/a SOFC Stationary
(m-CHP)
Doosan Fuel
Cell America
Subsidiary of
Doosan Corp.
U.S. Plans to
manufacture 90
units in 2015
241 PAFC Stationary
Elcore GmbH Private Germany 500 units 100 SOFC Stationary
(m-CHP)
ENEOS
CellTech
A joint
company of
JX Holdings
Inc. and
Sanyo Electric
Company
Japan N/a N/a PEM Stationary
(m-CHP)
First Element
Energy
Private U.S. 1000-1500
systems
N/a PEM Backup/
remote
FuelCell
Energy
Public -
NASDAQ:
FCEL
U.S. U.S.: 100 MW
Germany: 20
MW
South Korea:
Will have initial
capacity of 100
MW
622 MCFC Stationary
57
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
Fuji Electric Public
- 6504:Tokyo
Japan 2+ MW (under
expansion)
N/a PAFC Stationary
Heliocentris
Fuel Cells AG
Public Germany N/a 185 PEM Backup/
remote
Horizon
Fuel Cell
Technologies
Private Singapore 1 MW 130 PEM Backup/
remote,
educational,
specialty
vehicles
Hydrogenics Public -
NASDAQ:
HYGS
Canada 300 power
units/year in
Missisauga,
Canada facility
170 PEM Transport,
MHE, backup/
remote
Intelligent
Energy
Public U.K. Manufacturing
is contracted
out or assigned
to joint venture
partners
380 PEM MHE, backup/
remote
Nuvera Private U.S. N/a 119 PEM MHE
Oorja Fuel
Cells
Private U.S. N/a N/a DMFC MHE, backup/
remote
Panasonic Public
- NYSE:PCRFY
Japan approximately
25,000 units/
year
N/a PEM Stationary
(m-CHP)
Plug Power/
ReliOn
Public
- NYSE:PLUG
U.S. 10,000 units 326 PEM MHE, backup/
remote
PowerCell Public Sweden 10 MW (2,000
units)
25+ PEM Backup/
remote
Proton Motor
Fuel Cell
GmbH
Subsidiary of
Proton Power
Systems
Germany N/a 60 PEM MHE
SFC Energy Public - F3CG.
DE
Germany N/a 250 DMFC Backup/
remote
Symbio FCell Private France N/a N/a PEM Transport,
MHE
Toshiba Public
- NYSE:TOSBF
Japan N/a N/a PEM Stationary
(m-CHP)
UltraCell Private U.S. 100 kW N/a RMFC Backup/
remote
US FuelCell
Corporation
Division of US
Hybrid
U.S. N/a N/a PEM Transport
Companies list is derived from the commercial products charts in this report.
Acronyms:
m-CHP - micro combined heat and power; MCFC - molten carbonate fuel cell; MHE – material handling equipment; N/a –
information is not available; PAFC - phosphoric acid fuel cell; PEM - proton exchange membrane fuel cell; RMFC - reformed
methanol fuel cell; SOFC - solid oxide fuel cell
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
58
Endnotes
1. http://www.plugpower.com/news/pressreleases/14-04-02/PLUG_POWER_ACQUIRES_RELION_INC_BRINGING_
INNOVATIVE_FUEL_CELL_STACK_TECHNOLOGY_IN-HOUSE.aspx
2. http://www.plugpower.com/news/pressreleases/14-11-11/PLUG_POWER_STRUCTURES_RELION_AS_
STATIONARY_POWER_PRODUCT_BRAND.aspx
3. http://www.hartfordbusiness.com/article/20140429/NEWS01/140429939
4. http://www.doosanfuelcell.com/en/resources/releases_view.do?page=1&pressSeq=6&parSrchTxt=&contentsCode=7041
5. http://www.ushybrid.com/index.php/news/98-us-hybrid-executes-global-fuel-cell-technology-licensing-agreement-with-
united-technologies
6. http://www.utc.com/News/News-Center/Pages/United-Technologies-Closes-Strategic-Intellectual-Property-Transaction-
with-Balla.aspx
7. http://www.dominovasenergy.com/wp-content/uploads/2014/05/DEC-Press-Release-24-Feb-2014.pdf
8. http://ballard.com/about-ballard/newsroom/news-releases/news06291401.aspx
9. http://www.h2logic.com/com/shownews.asp?lang=en&id=448
10. http://www.greencarcongress.com/2014/05/20140506-symbio.html
11. http://www.heliocentris.com/en/our-company/press/press-releases/new-details/article/heliocentris-uebernimmt-futuree.
html
12. http://powersource.post-gazette.com/powersource/companies-powersource/2014/10/25/
Watt-Fuel-Cell-Inc-welcome-sight-for-research-industry-begin-operations-in-Mt-Pleasant/stories/201410250012
13. http://www.nuvera.com/pressroom/press-releases/187-hypress-release
14. http://lings.irdirect.net/data/1381054/000135448815000264/hfco_10k.pdf
15. http://www.bloomberg.com/news/2014-07-22/general-electric-opens-fuel-cell-pilot-plant-in-new-york.html
16. http://www.powercell.se/2014/11/
17. http://www.cerespower.com/news-media/press-releases/2014-02-12-ceres-announces-commercial-progress-and-
expansion-in-japan
18. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=879097
19. http://www.stockhouse.com/news/press-releases/2014/09/25/vision-industries-les-for-voluntary-chapter-11-bankruptcy-
protection#j5i1aA5EFa5vRgk4.99
20. http://www.betaboston.com/news/2014/07/31/lilliputian-systems-mit-spin-out-that-raised-150-million-runs-out-of-fuel/
21. http://www.topsoefuelcell.com/news_and_info/press_releases/120814.aspx
22. http://www.plugpower.com/news/pressreleases/14-04-21/PLUG_POWER_AND_HYUNDAI_HYSCO_SIGN_
MEMORANDUM_OF_UNDERSTANDING_TO_FORM_FUEL_CELL_JOINT_VENTURE_IN_ASIA.aspx
23. http://www.airproducts.com/company/news-center/2014/02/0227-air-products-and-nippon-steel-sign-agreement-for-
hydrogen-fueling-station-work-in-japan.aspx
24. http://www.hydrogenics.com/about-the-company/news-updates/2014/06/18/
hydrogenics-and-universiti-teknologi-malaysia-signed-a-memorandum-of-understanding-in-korea
59
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
25. http://www.hydrogenics.com/about-the-company/news-updates/2014/06/23/
hydrogenics-signs-agreement-to-create-kolon-hydrogenics-joint-venture-for-power-generation-in-south-korea
26. http://oorjafuelcells.com/wp-content/uploads/2014/05/LICENSE-PRESS-RELEASE_OorjaFinal_1.pdf
27. http://www.sec.gov/Archives/edgar/data/1453015/000091228215000077/ex99_2.htm
28. http://www.sec.gov/Archives/edgar/data/1453015/000091228215000077/ex99_2.htm
29. http://www.sec.gov/Archives/edgar/data/1453015/000091228215000077/ex99_2.htm
30. http://les.shareholder.com/downloads/FCEL/3511873063x7757298x805460/04E94953-CA46-4377-8498-
4F670A41E241/FuelCell_14AR_FINAL.pdf
31. http://www.sedar.com/GetFile.do?lang=EN&docClass=2&issuerNo=00029022&leName=/csfsprod/data150/
lings/02316107/00000001/t%3A%5CHydrogenics%5CSEDAR%5C0047945_Mar3_2015%5Cle%5Chydrogenics030
4ar.pdf
32. http://www.hydrogenics.com/docs/default-source/earnings-releases-pdf/hydrogenics-reports-fourth-quarter-and-full-
year-2014.pdf?sfvrsn=0
33. http://www.hydrogenics.com/docs/default-source/default-document-library/hygs-q4-2014-earnings-call-presentation-
(nal).pdf?sfvrsn=0
34. http://www.plugpower.com/News/PressReleases/15-03-17/PLUG_POWER_ANNOUNCES_2014_FOURTH_
QUARTER_AND_YEAR-END_RESULTS.aspx
35. http://www.plugpower.com/News/PressReleases/15-03-17/PLUG_POWER_ANNOUNCES_2014_FOURTH_
QUARTER_AND_YEAR-END_RESULTS.aspx
36. http://www.cfcl.com.au/Assets/Files/20140926%20-%20CFCL%20Annual%20Report%202014%20FINAL.pdf
37. http://www.cerespower.com/admin/resources/cerespowerar14.pdf
38. http://www.sec.gov/Archives/edgar/data/1453015/000091228215000077/ex99_2.htm
39. http://www.cfcl.com.au/Assets/Files/20140926%20-%20CFCL%20Annual%20Report%202014%20FINAL.pdf
40. http://www.cfcl.com.au/Assets/Files/20140430%20-%20Quarterly%20Cashow%20Report.pdf
41. http://les.shareholder.com/downloads/FCEL/3511873063x7757298x805460/04E94953-CA46-4377-8498-
4F670A41E241/FuelCell_14AR_FINAL.pdf
42. http://www.hydrogenics.com/docs/default-source/earnings-releases-pdf/hydrogenics-reports-fourth-quarter-and-full-
year-2014.pdf?sfvrsn=0
43. http://www.plugpower.com/News/PressReleases/15-03-17/PLUG_POWER_ANNOUNCES_2014_FOURTH_
QUARTER_AND_YEAR-END_RESULTS.aspx
44. https://www.facebook.com/phystechventures
45. http://rusbase.com/news/author/robinmunby/investment-phystech-ventures/
46. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=820858
47. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=863343
48. http://www.b2i.us/proles/investor/ResLibraryView.asp?ResLibraryID=67306&GoTopage=7&Category=44&BzID=604
49. http://www.b2i.us/proles/investor/ResLibraryView.asp?ResLibraryID=67306&GoTopage=7&Category=44&BzID=604
and http://www.thestreet.com/story/12241641/1/plug-power-inc-announces-closing-of-30-million-registered-offering.html
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
60
50. http://www.plugpower.com/News/PressReleases/14-04-25/PLUG_POWER_INC_ANNOUNCES_PRICING_
OF_124_300_000_REGISTERED_OFFERING.aspx
51. http://www.cfcl.com.au/Assets/Files/20140324%20ASX%20and%20AIM%20Fundraising%20Announcement.pdf
52. http://www.hydrogenics.com/about-the-company/news-updates/2014/05/16/
Hydrogenics-Announces-Closing-of-Underwritten-Public-Offering
53. http://www.sfc.com/en/investors/ir-home#header
54. http://www.afcenergy.com/_userles/pages/les/AFC%20Annual%20Report%202014%20Web-ready.pdf
55. http://dealbook.nytimes.com/2014/07/04/intelligent-energy-valued-at-1-09-billion-in-london-i-p-o/?_php=true&_
type=blogs&_r=0
56. http://www.nasdaqomxnordic.com/news/listings/rstnorth/2014/myfc
57. http://www.nasdaqomxnordic.com/news/listings/rstnorth/2014/powercell and www.bequoted.com/beQPress/download.
asp?Id=14077
58. http://www.cepgi.com/2015/04/2014-year-end.html#more
59. http://energy.gov/eere/articles/leveraging-national-laboratories-support-h2usa
60. http://www.altenergymag.com/news/2014/10/29/us-doe-launches-1-million-h2-refuel-h-prize-competition-for-small-scale-
hydrogen-refueling-system/35214
61. https://share.sandia.gov/news/resources/news_releases/mobile_lights/#.VEFqtyLF_Ns
62. http://energy.gov/articles/nascar-green-gets-rst-place-daytona-500
63. https://share.sandia.gov/news/resources/news_releases/linde_crada/#.VJRuasAA
64. http://www.dot.gov/fastlane/maritime-administration-helping-green-port-honolulu
65. http://www.marad.dot.gov/news_room_landing_page/news_releases_summary/news_release/dot100-14.htm
66. http://www.rit.edu/news/story.php?id=50887
67. http://www.ustda.gov/news/pressreleases/2014/SubSaharanAfrica/Ethiopia/USAfricaEnergyMinisterial_060414.asp
68. http://www.governor.ct.gov/malloy/cwp/view.asp?Q=555864&A=4010
69. http://www.london.gov.uk/media/mayor-press-releases/2014/04/
global-leaders-sign-up-to-31m-plan-to-demonstrate-viability-of
70. http://www.reuters.com/article/2014/07/23/us-japan-autos-fuelcells-idUSKBN0FS19420140723 and http://www.
japantimes.co.jp/news/2014/07/25/business/japanese-government-to-make-fuel-cell-cars-the-ofcial-vehicle-for-all-
ministries/#.U9Y_8WBOXIU
71. http://www.bloomberg.com/news/2014-07-13/china-targets-30-new-government-vehicles-use-alternative-energy.html and
http://www.gov.cn/xinwen/2014-07/13/content_2716563.htm
72. http://the-japan-news.com/news/article/0001874527
73. http://www.unece.org/leadmin/DAM/trans/doc/2013/wp29/ECE-TRANS-WP29-2013-041e.pdf
74. http://worldwide.hyundai.com/WW/Corporate/News/News/DF_WW_GLOBALNEWSVIEW_131210.
html?testValue=DF_WW_RD_GLOBALNEWS&title=DF_WW_GLOBALNEWSVIEW_131210&selx2=intrado
75. https://www.hyundaiusa.com/about-hyundai/news/Corporate_HYUNDAI_PROUDLY_HANDS_KEYS_TO_FIRST_
TUCSON_FUEL_CELL_CUSTOMER_AT_TUSTIN_HYUNDAI-20140613.aspx
61
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
76. http://www.edmunds.com/car-news/hyundai-negotiates-insurance-deals-for-2015-hyundai-tucson-fuel-cell-vehicle.html
77. http://news.yahoo.com/hyundai-rst-offer-hydrogen-fuel-181000055.html
78. http://www.canberratimes.com.au/act-news/hydrogen-fuel-pumps-could-be-headed-for-canberra-20141210-124816.html
79. http://www.autonet.ca/en/2014/10/03/toyota-brings-economy-to-paris
80. http://www.japantimes.co.jp/news/2014/12/15/business/toyotas-hydrogen-powered-mirai-goes-sale-japan/#.
VI9EkNLF_Ns
81. http://newsroom.toyota.co.jp/en/detail/4198334/
82. http://www.foxbusiness.com/2014/12/05/report-toyota-to-boost-fuel-cell-sedan-output/
83. http://newsroom.toyota.co.jp/en/detail/6402089/
84. http://world.honda.com/news/2014/4141117All-New-Fuel-Cell-Vehicle-FCV-CONCEPT/index.html
85. http://media.vw.com/release/889/
86. http://www.audi.com/com/brand/en/vorsprung_durch_technik/content/2014/11/audi-a7-sportback-h-tron-quattro.html
87. http://www.greencarcongress.com/2014/11/20141104-gcode.html
88. http://www.nrel.gov/news/press/2014/14370.html
89. http://www.intelligent-energy.com/about-us/media-room/news/company-news/2014/07/29/intelligent-energy-signs-
agreement-with-japanese-volume-automotive-oem-to-develop-its-class-leading-fuel-cell-engine-technology-towards-
commercial-launch
90. http://www.fch-ju.eu/sites/default/les/Joint%20press%20-%20release%20-%20zero-%20emission%20buses.pdf
91. http://www.ballard.com/about-ballard/newsroom/news-releases/news06171401.aspx
92. http://www.cbc.ca/news/canada/british-columbia/bc-transit-s-90m-hydrogen-bus-eet-to-be-sold-off-converted-to-
diesel-1.2861060
93. http://www.ballard.com/about-ballard/newsroom/news-releases/news10211401.aspx
94. http://www.solarisbus.com/busmania/news/
95. http://www.sartaonline.com/ohio-to-test-fuel-cells-for-public-transit
96. http://www.ushybrid.com/index.php/news/140-us-hybrid-awarded-contract-to-deliver-hydrogen-powered-shuttle-bus-to-
hawaii-county-mass-transit-agency
97. http://www.plugpower.com/news/pressreleases/14-01-16/PLUG_POWER_LAUNCHES_NEW_TURNKEY_
SOLUTION_TO_SMOOTH_CUSTOMER_TRANSITION_TO_HYDROGEN_FUEL_CELLS.aspx
98. http://www.plugpower.com/news/pressreleases/14-12-16/PLUG_POWER_HYDROGEN_AND_FUEL_CELL_
SOLUTION_EARNS_A_SPOT_ON_FOOD_LOGISTICS_2014_FL100_LIST.aspx
99. http://www.ballard.com/about-ballard/newsroom/news-releases/news10081401.aspx
100. http://fuelcellsworks.com/news/2014/05/22/hydrogen-to-power-kansai-airport/
101. http://www.energy.ca.gov/releases/2014_releases/2014-04-22_investing_in_electricity_r_and_d_and_alt_fuels_nr.html
102. http://www.thegreencarwebsite.co.uk/blog/index.php/2014/11/04/microcab-to-showcase-new-hydrogen-fuelled-van/
103. http://www.microcab.co.uk/h2ev.html
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
62
104. http://www.businesswire.com/news/home/20141014005088/en/Symbio-FCell-Announces-World-Real-Life-Hydrogen#.
VEFs_iLF_Ns
105. http://www.protonpowersystems.com/leadmin/documents_pps/20140902_RNS_PPS_Development_Project_Austria_
Sep_2014.pdf
106. http://www.lse.co.uk/AllNews.asp?code=9877y8dh&headline=Prot
on_Power_Systems_Secures_Asian_Contract_For_Maritime_Fuel_Cell_Study
107. http://www.businesswire.com/news/home/20141203006607/en/NCKU-Unveils-Hydrogen-Fueled-Electric-Scooter#.
VIh1MtLF_Ns
108. http://www.unmannedsystemstechnology.com/2014/02/singapore-israel-cooperation-leads-to-worlds-rst-civilian-fuel-
cell-uav/
109. http://www.uwc.ac.za/News/Pages/HySA,-NAC-and-Airbus-project-takes-ight.aspx#.VG9KVPnF-Ck
110. http://www.alstom.com/press-centre/2014/9/innotrans2014-alstom-to-develop-a-new-emission-free-train-for-passengers-
in-germany/
111. http://www.tuv-sud.com/news-media/news-archive/17-new-hydrogen-refuelling-stations-worldwide-in-2014
112. http://www.pnnl.gov/news/release.aspx?id=1045, http://www.nescaum.org/documents/nescaum-joins-h2usa-
press-release-20140429.pdf, http://www.energy.ca.gov/releases/2014_releases/2014-04-29_Energy_Commission_
and_ARB_H2USA_news_release.pdf, and http://www.intelligent-energy.com/about-us/media-room/news/
company-news/2014/06/19/intelligent-energy-joins-h2usa
113. http://www.energy.ca.gov/releases/2014_releases/2014-05-01_hydrogen_refueling_stations_funding_awards_nr.html
114. http://green.autoblog.com/2014/11/19/honda-spending-13-8-million-on-hydrogen-infrastructure-with-r/
115. http://pressroom.toyota.com/releases/toyota+names+fuel+cell+vehicle+mirai.htm
116. http://techon.nikkeibp.co.jp/english/NEWS_EN/20140703/362860/
117. http://the-japan-news.com/news/article/0001620485
118. http://asia.nikkei.com/Business/Companies/JX-Energy-to-build-expansive-hydrogen-infrastructure-in-Japan
119. http://koreabizwire.com/gwangju-dreams-of-mecca-of-eco-friendly-hydrogen-vehicles/21331
120. http://www.autoexpress.co.uk/car-news/consumer-news/88920/eu-drops-targets-for-number-of-ev-and-hydrogen-
stations#ixzz3GQYFsTYV and http://europa.eu/rapid/press-release_IP-14-1053_en.htm
121. http://www.nationaljournal.com/library/214662
122. http://www.now-gmbh.de/en/presse-aktuelles/2014/visit-state-secretary-reiche.html
123. http://www.daimler.com/dccom/0-5-658451-1-1747646-1-0-0-0-0-0-9293-0-0-0-0-0-0-0-0.html
124. http://www.the-linde-group.com/en/news_and_media/press_releases/news_20140714.html
125. http://www.h2euro.org/2014/uk-government-unveils-major-investment-in-h2-infrastructure
126. http://www.inddist.com/news/2014/12/airgas-build-liquid-hydrogen-plant-kentucky
127. http://globenewswire.com/news-release/2014/11/04/679457/10106081/en/Plug-Power-Signs-Long-Term-Agreement-to-
Use-Praxair-Hydrogen-for-State-of-the-Art-Fuel-Cell-Solution.html#sthash.8i9LO4Lu.dpuf
128. http://globenewswire.com/news-release/2014/11/04/679457/10106081/en/Plug-Power-Signs-Long-Term-Agreement-to-
Use-Praxair-Hydrogen-for-State-of-the-Art-Fuel-Cell-Solution.html#sthash.8i9LO4Lu.dpuf
63
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
129. http://www.dnvgl.com/news-events/news/dnv-gl-jip-urges-natural-gas-industry-to-be-ready-for-hydrogen.aspx
130. https://share.sandia.gov/news/resources/news_releases/underground_hydrogen/#.VIhdzdLF_Ns
131. http://www.hitachizosen.co.jp/english/news/2014/01/001148.html
132. http://www.itm-power.com/news-item/gas-network-optimisation-contract-with-amec-and-national-grid/
133. http://www.areva.com/EN/news-10217/hydrogen-production-creation-of-a-global-leader-in-pem-electrolysis.html
134. http://www.csp-world.com/news/20141125/001502/th-ga-groups-p2g-project-marks-rst-year-succesfully-injecting-
hydrogen-gas
135. http://standards.sae.org/j2601_201407/, http://www.prweb.com/releases/2014/07/prweb12042788.htm, http://standards.
sae.org/j2601_201407/, and http://standards.sae.org/j2799_201404/
136. https://transportevolved.com/2014/12/03/japanese-government-revises-rules-hydrogen-refueling-stations-make-easier-
install/
137. http://www.cnet.com/news/japan-putting-full-weight-of-government-behind-fuel-cell-vehicles/
138. http://newsroom.toyota.co.jp/en/detail/3906446
139. http://www.nist.gov/pml/div685/hydrogen-meter-072114.cfm
140. http://www.epa.gov/otaq/fuels/renewablefuels/documents/rfs-path-II-fr-07-02-14.pdf
141. http://ajw.asahi.com/article/business/AJ201411200039
142. http://the-japan-news.com/news/article/0001808388
143. http://the-japan-news.com/news/article/0001808388, http://www.greencarcongress.com/2013/06/mch-20130603.html and
http://www.chiyoda-corp.com/technology/en/spera-hydrogen/spera02.html
144. http://asia.nikkei.com/Tech-Science/Tech/Taiyo-Nippon-Sanso-to-cut-costs-of-hydrogen-fueling-stations
145. http://www.fujitsu.com/global/about/resources/news/press-releases/2014/1215-01.html
146. http://www.compositesworld.com/news/dsm-thermoplastics-featured-in-cng-and-hydrogen-tanks
147. http://www.prnewswire.com/news-releases/quantum-delivers-hydrogen-dispensing-system-to-linde-for-a-retail-fueling-
station-in-west-sacramento-ca-300009314.html
148. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=847482
149. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=826618
150. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=874910
151. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=861060
152. http://www.ecs.dtu.dk/english/News/2014/09/Research-in-hydrogen-and-fuel-cell-energy-systems-to-be-accelerated-
through-standardization
153. http://nance.yahoo.com/news/dominovas-energy-delphi-sign-mou-123000948.html
154. http://www.afcenergy.com/news/2014/2/2/1268/mou_signed_with_allied_new_technologies
155. http://www.afcenergy.com/news/2014/2/24/1273/new_drive_to_accelerate_launch_of_energyfromwaste_projects_in_
thailand
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
64
156. http://www.afcenergy.com/news/2014/7/7/1284/landmark_agreement___signed_for_stationary_fuel_cell_systems_in_
south_korea
157. Ibid.
158. http://globenewswire.com/news-release/2014/06/10/643007/10085181/en/GEI-Global-Energy-Corp-Announces-Biogas-
Power-Generation-Order.html
159. http://www.alumifuelpowertech.com/?page_id=1073/
160. http://www.cannabisfn.com/novofuel-gears-power-cannabis-operation-michigan/
161. http://www.biogas2pemfc.eu/
162. http://www.theengineer.co.uk/energy/news/nland-pilots-waste-hydrogen-power-plant/1018756.article#ixzz3KlxekJmT
163. http://www.exeloncorp.com/newsroom/pr_20140729_EXC_Bloom.aspx
164. http://fcel.client.shareholder.com/releasedetail.cfm?ReleaseID=863343
165. http://xlgroup.com/press/xl-munich-and-new-energy-risk-product-for-fuel-cell-portfolio
166. Email contact with Panasonic.
167. http://www.gasworld.com/regions/west-europe/range-extender-win-for-hyway/2004419.article
168. http://www.cfcl.com.au/Assets/Files/20141117%20-%20ASX%20Announcement%20iPower%20draft.pdf
169. http://www.cfcl.com.au/Assets/Files/20140303%20-%20ASX%20Announcement%20-%20Avilos%20order.pdf
170. http://www.cfcl.com.au/Assets/Files/20140630%20-%20Technology%20Update%5b1%5d.pdf
171. http://www.renewableenergyfocus.com/view/40255/ceres-power-working-with-energy-lancaster-to-study-next-generation-
solid-oxide-fuel-cell-materials/
172. http://www.cerespower.com/admin/resources/0.7millionfundingaward.pdf
173. http://www.cerespower.com/admin/resources/japan-da-29-oct14-agreed-v3.pdf
174. ttp://www.ballard.com/about-ballard/newsroom/news-releases/news01091401.aspx
175. http://www.relion-inc.com/news.asp#52
176. http://www.actaspa.com/rst-repeat-order-from-australian-telco-customer/
177. http://www.actaspa.com/product-sales-and-trading-update/
178. http://www.actaspa.com/acta-power-successfully-delivers-back-up-power-during-blackout/#sthash.NT9S0Ar3.dpuf
179. http://www.heliocentris.com/en/our-company/press/press-releases/new-details/article/bos-digitalfunk-brandenburg-
chooses-heliocentris.html
180. http://www.heliocentris.com/en/our-company/press/press-releases/new-details/article/heliocentris-deploys-rst-free-
cooling-system-in-dus-mobile-network-in-the-middle-east-and.html
181. http://www.heliocentris.com/en/our-company/press/press-releases/new-details/article/heliocentris-uebernimmt-futuree.
html
182. http://www.heliocentris.com/en/our-company/press/press-releases/new-details/article/heliocentris-signs-major-
distribution-agreement-in-china.html
65
FUEL CELL TECHNOLOGIES MARKET REPORT 2014
183. http://www.intelligent-energy.com/about-us/media-room/news/company-news/2014/03/27/intelligent-energy-signs-a-long-
term-exclusive-contract-with-microqual-to-power-mobile-telecom-equipment-to-be-mounted-on-existing-transmission-t-
owers
184. http://www.intelligent-energy.com/about-us/media-room/news/company-news/2014/01/14/
intelligent-energy-delivers-cost-effective-clean-power-for-ascend-telecom-towers
185. http://www.intelligent-energy.com/about-us/media-room/news/company-news/2014/03/20/
hydro-industries-to-provide-water-purication-technology-to-supply-clean-water-across-india
186. http://www.nxtbook.com/nxtbooks/webcom/remote_2015spring/#/10
187. http://www.plugpower.com/news/pressreleases/15-01-05/PLUG_POWER_IDENTIFIES_SOUTHERNLINC_
WIRELESS_AS_MULTI-YEAR_RELION_FUEL_CELL_CUSTOMER.aspx
188. http://www.plugpower.com/news/pressreleases/14-12-04/PLUG_POWER_SIGNS_MULTI-YEAR_RELION_FUEL_
CELL_CONTRACT_WITH_COMMUNICATIONS_COMPANY_VALUED_AT_20M.aspx
189. http://rstelementenergy.com/dominican-republic-university-installs-fuel-cell/
190. http://library.ustda.gov/tradeleads/april2014/tradelead04072014web.html
191. http://www.boconline.co.uk/en/news-and-media/press_releases/news2014-08-08.html
192. http://www.sfc.com/en/SFC-Energy-launches-new-extreme-temperature-EFOY-ProCabinet-fuel-cell-solution-and-opens-
EFOY-service-center-in-Canada
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