What you need to know about the Hydrogen fuel $12-Trillion Market

As the world evolves and population increases, the demand for an eco-friendly business operation is also on a high. The mobile industry is one of the highest contributors to environmental waste or more precisely air pollution. Elon Musk started Tesla with the focus of building an industry that can reduce environmental waste and build a futuristic automotive sector. 

Today, the technology around generating clean renewable energy is evolving about as fast as the rest of our modern world. And among the most versatile examples is in fuel cell technology.

Hydrogen is the simplest and most abundant element in the universe. It is a major component of water, oil, natural gas, and all living matter. It is almost always combined with other elements. It can be generated from oil, natural gas, and biomass or by splitting water using renewable solar or electrical energy.

Once hydrogen is produced as molecular hydrogen, the energy present within the molecule can be released, by reacting with oxygen to produce water. This can be achieved by either traditional internal combustion engines, or by devices called fuel cells. In a fuel cell, hydrogen energy is converted directly into electricity with high efficiency and low power losses.

Fuel cells provide critical energy backup for many large facilities, and they provide primary energy for some remote locations. Fuel cells are even being used to power vehicles and homes. Fuel cells work like batteries, but they do not run down or need recharging. They produce electricity and heat as long as fuel is supplied.

The industry is estimated to be a $12 trillion industry, with four major companies in the race.

This includes;

Bloom Energy Corporation

Bloom Energy, through its proprietary solid oxide fuel cell technology, converts hydrogen fuel into electricity through an electrochemical process without combustion. It offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion. The company has a market capitalisation of $5.29 Billion, with a year-to-date return of 128.58%.

Plug Power Inc.

Plug Power appears to be the largest in the industry with a market capitalization of $30.9 Billion, the company provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure. The stock has gained 92% over the six-session stretch, and 1,377% in the past 12 months.

Ballard Power Systems Inc.

Ballard Power Systems is involved in the design, development, manufacturing, sale and service of proton exchange membrane fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems and portable power/unmanned aerial vehicles, along with material handling products.  The company is working to reduce cost by producing higher-efficiency modules through improved manufacturing and designing processes. 

FuelCell Energy Inc.

FuelCell Energy designs, manufactures, sells, installs, operates and services stationary fuel cell power plants for distributed power generation. Its Sure Source product line is based on carbonate fuel cell technology in various configurations. The company is utilizing the fuel cell technology to generate clean energy for a wide customer base across the globe. It has a market Capitalization of $6.14 Billion.

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