Hydrogen Fuel Cells: future stars
Before the combined impact of the coronavirus and a surge in oil supply sparked a mass sell-off in global markets, hydrogen fuel cell companies had been enjoying strong share price performances on the back of resurgent interest in the gas. Following our recent review of ITM Power, here is an introduction to several of the other higher profile names, listed on both UK and overseas stock markets.
AIM leads the domestic marketAIM-quoted Ceres Power (LON:CERES) has patented fuel cell technology known as SteelCell to generate power from natural gas and hydrogen. The SteelCell is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price. Unlike ITM Power (LON:ITM), which has assumed responsibility for the manufacture of its electrolyser units, Ceres' strategy is to license its technology to global original equipment manufacturing partners and generate royalties as those partners achieve full-scale commercialisation of manufactured products. In November 2019 Ceres announced the development of its first zero-emission combined…