Fuel cell manufacturer Ballard has announced several new deals.
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In the 1990s, fuel cells were one of number of outlandish technologies competing to be the environmentally friendly power source of the future. While others have hit dead ends, fuel cells are gaining ground. If their promise can be fulfilled, today’s humble fuel cell producers could be among the energy giants of tomorrow.
In the same week that Toyota and Honda begin trialling new fuel cell powered vehicles in California, Canadian fuel cell maker Ballard has launched its long awaited fuel cell powered generator.
Ballard has also announced a deal to supply Honda with 32 fuel cells, as well as a $US1.88 million deal with an unnamed automotive customer. Ballard’s stock has risen around 50% on the news.
Touted as the answer to pollution problems, fuel cells produce electricity from a chemical reaction, leaving nothing more harmful than water as waste. Best known are those that combine hydrogen and oxygen, but they can also run on chemicals including methanol and petrol.
Electric motors powered by hydrogen fuel cells are emerging as one of the lead contenders to replace the internal combustion engine in cars. But it is in homes, offices and industry that they are likely to find their initial use.
Ballard’s new generator, developed with outdoor equipment manufacturer Coleman, is the first small, portable fuel cell generator. But larger systems are already available as back-up generators in hospitals and factories. Natural gas powered fuel cells can also be used to provide combined heat and electricity in homes.
In the vehicle industry, competing technologies have been falling by the wayside. This week, Ford followed GM’s lead and abandoned its battery powered electric car. Hybrid engines – part electric and part petrol – are now the fuel cell’s main competition.
All this is good news for Ballard, already one of the industry leaders. Although Toyota and Honda’s trials involve just 15 cars in total, and the Coleman generator is noteworthy precisely because it is the first of its kind, at least they are concrete steps. With the door to the vast energy and automotive markets starting to open, fuel cell manufacturers could yet emerge as the BPs and Exxons of the future.
