Clean energy is an emerging industry. As technological advances are leading the development of new and more efficient energy sources that are better for the environment we’re seeing a surge in the number of new startups aiming to capitalize on the trend. This is good for investors who are keeping a finger on the pulse of the most successful businesses producing clean energy sources. Hydrogen fuel cell technology is currently one of the leading technologies. If you’re considering diversifying your portfolio to include an investment in this relatively new energy source, hydrogen fuel cell development appears to be the wave of the future. For your consideration, here are 5 companies leading with way.
5. Bloom Energy Corporation
Bloom Energy Corporation is a publicly traded company that is listed on the New York Stock Exchange under the ticker symbol BE. The company is one of the leaders in the production of hydrogen fuel cell products for the commercial markets. This viable energy option is being used to convert plants that feature conventional energy to operations that emit zero carbon particles. The system that is based 100 percent on hydrogen fuel is set to be deployed in South Korea. Sales of energy generated by the fuel cells are already in progress in South Korea. Bloom Energy Corporation is currently bringing in a revenue of more than $1 billion. Bloom Energy’s technology was inspired by the research conducted by the founders of the business. They used solar panels to produce energy. The energy is produced by fuel and oxygen and was used on the planet Mars by the NASA space agency. When the technology was reversed it produced hydrogen through the use of solid oxide electrolyzers. This is a renewable form of hydrogen that can be used for fuel for vehicles.
4. Nikola Corporation
Nikola Corporation is publicly traded on the NASDAQ stock exchange under the ticker symbol NKLA. The company is a technology company with a primary focus on producing electric car technology. Nikola has produced a variety of hydrogen fuel cell projects including the Nikola One, a truck that is powered with hydrogen. The company maintains its current focus on developing fueling solutions for the transportation industry that are hydrogen-based. The enterprise has recently entered into a deal that provides it with the Arizona Public Service Company to provide fueling solutions for its local economy. Nikola aims to provide heavy-duty fuel cell and electronic vehicles with new fuel technology that adds to the current range to create clean power sources that increase horsepower and torque while emitting zero carbon from the processes. It also seeks to provide a solution to the issues that come from using conventional batteries in electric vehicles such as cold start, the additional weight, limited range, and lengthy recharge times. Nikola Corporation offers new and improved energy alternatives that are in line with the current trends in cleaner energy sources.
3. Ballard Power Systems Inc.
Ballard Power Systems Inc. is a publicly-traded company that is listed on the NASDAQ stock exchange under the ticker symbol BLDP. Ballard Power Systems Inc. is a Canadian business that specializes in the production of hydrogen fuel cells that are used in the automotive industry. Additionally, Ballard Power System makes proton exchange membrane fuel cell product. The company is forging ahead with a deal that calls for a series of purchase orders from the Netherlands’ Van Hool company for 10 fuel cell modules. This is the beginning of what could become a lucrative exchange as the fuel cells will be used in the brand’s A330 buses to power public transportation in the region. Ballard’s operation in Canada has also expanded throughout China, the United States, and Europe. The company is continuing to expand with a count of 900 employees with a current drive to hire more for its next expansion. Ballard Power Systems is pursuing its vision to deliver fuel cell power to help create a more sustainable planet.
2. Plug Power Inc.
Plug Power Inc. is a hydrogen fuel company that is publicly traded and listed on the NASDAQ stock exchange under the ticker symbol PLUG. Plug Power Inc. is an enterprise that has its headquarters in New York. The business focuses on the production of hydrogen fuel cell systems that serve as replacements for the conventional batteries that were previously used in automobiles as well as for other devices. The company signed a deal with the French automaker Renault for the development, production, and marketing of electric fuel cells that will be deployed in light commercial vehicles. So far, Plug Power Inc has developed and produced 38,000 hydrogen fuel cells that are in active deployment. The company is the largest purchaser of liquid hydrogen as a raw resource for its operation. It also claims to have built the most number of refueling stations over all of its competitors worldwide.
1. Dow Incorporated
Dow Incorporated is a publicly-traded enterprise that is listed on the New York Stock Exchange under the ticker symbol DOW. Dow is a colossal-sized company in the chemical industry. It embarked on a project with General Motors for the production of hydrogen energy in 2004. The technology has been under development since that time. Dow developed a form of hydrogen featuring high purity levels through a unique process that involves the use of a pressure swing adsorption method. Dow’s agreement of understanding with GM is currently the largest transaction made in the hydrogen fuel cell industry. The joint effort intends to commercialize hydrogen fuel cell technology in a manner that results in the generation of electricity that will be used to power homes. This is a cleaner and more ecologically friendly approach to producing cleaner, safer, and more efficient energy for a myriad of uses. Dow’s manufacturing plant is located in Houston, Texas in a complex that takes up 30 square miles.