Fuel Cells

Table of Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

• Study Reliability and Reporting Limitations
• Disclaimers
• Data Interpretation & Reporting Level
• Quantitative Techniques & Analytics
• Product Definitions and Scope of Study
• Phosphoric Acid Fuel Cells
• Molten Carbonate Fuel Cells
• Alkaline Fuel Cells
• Solid Oxide Fuel Cells
• Proton Exchange Membrane Fuel Cells

II. EXECUTIVE SUMMARY

1. Market Dynamics

• Trends and Issues
• Fuel Cells Promise Immense Long-Term Potential
• Table 1: Global Fuel Cell Market by Application - Power Generation, Portable Electronics, Industrial Stationary, Transportation and Other Applications: 2008P (includes corresponding Graph/Chart)
• Cost and Fuel Storage/Distribution Remain the Most Vital Issues
• Auto Industry Views Fuel Cell Systems in Positive Light
• MFCs - Promising Future, Challenges Abound
• Micro Fuel Cells Set to Increase the Power Supply for Portable Electronic Items
• Increasing Power Needs of Portables Stimulate Micro Fuel Cell Research
• Stationary Fuel Cell Industry Scenario
• Direct Methanol Fuel Cell Preferred Choice for Portable Devices
• Mobile Fuel Cells Receive Support from Electronics Industry
• Stationary and Distributed Energy Applications Garner Attention
• Table 2: Large Stationary Fuel Cell Systems Installed Worldwide: 2000-2004 (Units) (includes corresponding Graph/Chart)
• Attracting Attention of the Natural Gas Industry
• Competitive Landscape
• Developed World Dominates Industry
• A Diverse Assortment of Market Players
• Major Fuel Cell Systems Integrators
• Consolidation Trend in the Industry
• M&A Activity in the Industry: 2000-2005
• Market Snapshots
• Issues Facing the Industry
• Capital Costs
• Reliability
• Material Costs
• Manufacturing Issues
• Engineering Issues
• Modeling
• Reliability and Durability
• Materials
• Fuel Processor
• New Pumps
• Fuel Storage
• Electronics and Sensors
• Other Issues
• Materials Scenario
• Important Materials Used in Fuel Cells and Batteries
• Fuel Cell Activity Worldwide
• Overview
• Select Fuel Cell Policies and Programs in Developed Nations
• Research and Development
• Potential Sequence for Fuel Cell Development: 2005-2040
• Table 3: R&D Expenditure of Select North American Fuel Cell Companies: 2003 (US$ in ' 000s)

2. Product Overview

• Definition
• Basic Principle
• Table 4: Cost Structure of Fuel Cell - Percentage Share of Key Components (Polymer Membrane (Electrolyte), Carbon Electrode, Flowfield, Platinum Catalyst, Others) (includes corresponding Graph/Chart)
• Support Systems
• Technology
• Function
• Carnot Efficiency and Fuel Cells
• An Insight into Key Components
• Reformers
• Hydrocarbon Sources
• Steam Reforming
• Partial Oxidation
• Gasified
• Stacks
• Stack Contents
• Difference between Fuel Cells and Batteries
• History
• Timeline
• Classification of Fuel Cells
• An Insight
• Electrolyte Based Technologies
• Fuel Cell Technologies
• Technical Features
• Merits and Demerits
• Basic Application
• Fuel Cell Systems
• Major Types of Fuel Cells
• Alkaline Fuel Cells (AFC)
• Overview
• Principle of Operation
• Operational Principles
• Merits and Demerits
• Phosphoric Acid Fuel Cells (PAFCs)
• Overview
• Application Areas
• Operational Principles
• Merits
• Demerits
• Solid Polymer or Proton Exchange Membrane Fuel Cell (PEM)
• Overview
• Operational Principle
• Applications Areas
• Improved PEM Functionality due to Innovation of New Membranes
• Merits
• Demerits
• Molten Carbonate Fuel Cells (MCFCs)
• Overview
• Operational Principle
• Benefits
• Drawback
• Solid Oxide Fuel Cells (SOFCs)
• Overview
• SOFCs vs MCFCs
• Tubular and Planar Types
• Operational Principle
• Merits
• Demerits
• Components & Properties
• Yttria Stabilised Zirconia
• Nickel
• Strontium Doped Lanthanum Magnatite
• Lanthanum Chromite
• Gas Reforming in SOFC
• Intermediate Temperature Solid Oxide Fuel Cells
• Research Focus
• Other Types of Fuel Cells
• Direct Methanol Fuel Cells (DMFC)
• Regenerative Fuel Cells (RFC)
• Zinc-Air Fuel Cells (ZAFC)
• Working Principle
• Protonic Ceramic Fuel Cell (PCFC)
• Fuel Cell Materials
• Pumps
• Ceramics
• Motors
• Bulk Molding Compounds
• Plastics
• Fuel Cell Energy Sources
• An Insight
• Natural Gas
• Hydrogen
• Overview
• Table 5: Global Hydrogen Fuel Stations By Region/ Country- USA, Germany, Europe (excluding Germany), Japan, and Others: Recent Past Data for 2003 (includes corresponding Graph/Chart)
• Table 6: Global Hydrogen Fuel Stations by Hydrogen Type-Compressed Gaseous Hydrogen (CGH2), Liquid Hydrogen (LH2), LCGH, and Others: Recent Past Data for 2003 (includes corresponding Graph/Chart)
• Storage Issues
• Supply
• Challenges Plaguing Use of Hydrogen
• Hydrogen Infrastructure
• Low Energy Density
• Hydrogen Powered Fuel Cell Buses
• Methanol
• As a Source of Fuel
• Benefits
• Shortcoming
• EconomicViability
• Legislative Measures

3. Fuel Cell Applications

• General End-Use Markets
• Application Areas
• Large-Scale Power-Intensive Applications
• Portable Applications
• Stationary Applications
• Transportation Applications
• Snapshots of Select End Uses
• Military/Aerospace
• Table 7: US Market for Fuel Cells in Military Applications by Technology - PEMFC, Alkaline Fuel Cells, PAFC, MCFC, and SOFC: 2004 & 2008P (includes corresponding Graph/Chart)
• Power Generation
• An Overview
• Alternative Energy Technologies
• Types
• Fuel Cells Vs Gensets
• Fuel Cells Vs Microturbines
• Prospects for Renewable Technology
• Transportation
• Table 8: Number of Fuel Cell Buses Operating Worldwide (includes corresponding Graph/Chart)
• Table 9: Fuel Cell Buses By Type of Technology- PEMFC, PAFC, and Others (includes corresponding Graph/Chart)
• Industrial
• Residential
• Commercial
• Marine
• Major Application Areas
• Portable Fuel Cells
• Overview
• Technical Challenges
• Players
• Micro Fuel Cells vis-à-vis Batteries
• MEMS Technology
• Stationary Fuel Cells
• Overview
• Categories
• Technology Type
• Table 10: Fuel Cell Technologies for Stationary Applications: 2004-2005 (In %) (includes corresponding Graph/Chart)
• Fuel Cells vis-à-vis Conventional Systems
• Market Participants
• Fuel Cells Market Worldwide (2004): Major Stationary Fuel Cell Developers
• Fuels
• Benefits
• Installations
• Micro CHP
• Table 11: Assessment of Fuel Cells In CHP: 2002-2010
• Automotive Fuel Cells
• An Overview
• Table 12: Assessment of Fuel Cells for Automotive Applications: 2001-2020
• Table 13: Leading Makers of Electric Vehicles: Market Share of Peugeot, Fiat, General Motors, Ford, Honda, Toyota, and Others: Historic Data for 2000 (includes corresponding Graph/Chart)
• Trends
• PEM Fuel Cells Show Great Promise in Automobile Applications
• Advantages of Fuel Cell Vehicles over Conventional Systems
• Fuel Cells Vehicles: Facing Commercialization and Technical Challenges
• Collaborations in Fuel Cell Development
• Fuel Cell Prototypes for Automobiles: 2002
• Barriers
• Hypercar Vehicles Concept

4. Product Introductions/Innovations

• IdaTech Launches 250 Watt iGen™ System
• Ford Motor Unveils Hybrid Fuel Cell Vehicle
• New Micro-Fuel Cell System Developed by Fraunhofer Researchers
• Total Acta Introduces New HYPERMEC 3-Series Fuel Cell Catalysts
• AIST, FCRA and NGK Plug Studio Develop Ultra Small SOFC
• NanoDynamics Introduces NDRevolution 50H Hybrid SOFC
• SAIT and Samsung SDI Co-develop Mobile Fuel Cell Charger
• Hydrogen Power Develops Portable Hydrogen Reactor
• Volkswagen Develops New High-Temperature Fuel Cell
• EnerFuel Introduces EFH-100 Fuel Cell Humidifiers for PEM Fuel Cell Systems
• SFC Smart Fuel Cell Unveils EFOY Fuel Cell Products
• Hitachi Introduces DMFC Prototype for External Recharging of Mobile Devices
• Seiko Instruments Develops Small Size Polymer Electrolyte Fuel Cell
• Voller Energy Group Launches Fuel Cell ABC™ Automatic Battery Charger
• Gashub Technology Launches Smallest PEM Fuel Cell Stacks
• Voller Energy Group Launches VE100 Rack Mount Industrial Fuel Cell System
• ReliOn Launches Two New Hydrogen Fuel Cells
• Kuraray Develops New Fuel Cell Electrolyte Membrane
• Hosokawa Micron Subsidiary Develops New Solid-Oxide Fuel Cell
• CFCL Develops Next Generation Fuel Cells
• Samsung SDI Announces Development of New Fuel Cell Battery
• NTT DoCoMo Displays Prototype of Polymer Electrolyte Fuel Cell
• UltraCell Unveils XX25 Micro Fuel Cell
• Jadoo Power Systems Introduces New Fuel Cell Products
• Casio Computer Unveils a Prototype Methanol Reformate Fuel Cell
• Jadoo Power Systems Introduces XRT Fuel Cell System
• Modine Manufacturing Rolls out New Green Fuel Cell Product
• Astris Energi Launches New Products under TL6 Platform
• IdaTech Rolls Out New ElectraGen™3 Fuel Cell System
• Sony Develops New Fullerenes Film for High-Efficiency Direct Methanol Fuel Cell
• Samsung SDI Develops New Longer Lasting Fuel Cell for Laptops
• FCT and TOTO to Design an SOFC for Residential Use
• Nuvera and East Penn to Develop Hybrid Battery Fuel Cells
• Hyundai Rolls Out Second Generation Fuel Cell Electric Vehicle
• Astris Energi Launches Alkaline Fuel Cell Powered Golf Car

5. Product Introductions in Recent Past

• Ballard’s Fuel Cells Power Ford’s Production Vehicles
• UTC Power Renames PC25 as PureCell 200 Power System
• Hydrogenics Launches Two HyPM Fuel Cell Power Modules
• IdaTech Launches Portable Fuel Cell System
• Plug Power Launches Additions in Gencore Product Line
• Vectrix Corp Rolls Out Fuel Cell-Powered Scooters
• SiGEN and BOC Develop Eco-friendly, Fuel-Efficient Fuel Cell-based Car
• Daimler-Chrysler Unveils F-Cell Fuel Cell-based Car
• Toyota Makes Contemporary Fuel Cell-based Sports Utility Vehicle
• Kobe Steel Creates High-Capacity Hydrogen Compressor for Fuel-Cell Cars
• IMRE Scientists Develop Cheaper Fuel Cells
• UQM Technologies Provides Electronic Controller for Fuel Cell Vehicles
• CIT Develops Solid Acid Fuel Cells
• Pacific Fuel Cell Produces Nanotube-based Fuel Cell
• MTU Unveils First Fuel Cell-based Yacht
• Caterpillar and Deere Foray into Fuel Cell Industry
• Honda Creates New Fuel Cell Generator
• MMC Develops Fuel Cell-based Minivan
• Ballard Launches Stationary Fuel Cell Power Generator
• NIT Develops Glass-based Electrolyte Membrane for Fuel Cell Battery
• Brown University Researchers Develop Fuel Cells for Medical Implants
• Toshiba Develops Direct Methanol Fuel Cell for Laptops
• Palcan Rolls Out Fuel Cell Scooter
• Astris Unveils Latest Alkaline Fuel Cell Generator
• ST Microelectronics Develops Micro Fuel Cells for Handsets
• Nissan Launches Fuel Cell Vehicles
• Nuvera and BWT to Develop Polymeric Membrane
• Fraunhofer ISE Develops Autothermal Gasoline Reforming
• Ballard and Ford Introduce Hydrogen Generator
• Plug Power Introduces Fuel Cell Systems
• MTI Launches Direct Methanol Micro Fuel Cell Prototype
• LG Develops Fuel Cells
• Shell, Mitsubishi, and Johnson Matthey Form New Joint Venture Company
• Gifu University Develops Thin Palladium Film
• Donaldson Introduces Noise Filtration System
• FuMA Develops Proton-Conducting Membranes
• Toshiba and Hitachi Develop Direct Methanol Fuel Cells
• Yuasa Develops Electric Power Systems
• GM Unveils Stationary Fuel Cell Generator and Gasoline Processor
• Ballard Builds Fuel Cell Power Generator
• Delphi Develops Solid-Oxide Fuel Cells

6. Recent Industry Activity

• MTI Micro & Trident Systems in Partnership
• FuelCell Energy Obtains DPUC’s Approval for 16.2 Megawatts Project
• Hydrogenics to Supply Hydrogen Generation System to Air Liquide Canada
• Hydrogenics Bags Contract to Supply On-Site Hydrogen Generation to Ford
• FuelCell Energy Sells 4.8 Megawatts of Direct FuelCell to POSCO Power
• IdaTech Inks Distribution Agreement with b+w Telecom Solutions
• Acumentrics Canada to Explore the Usage of Ammonia as Fuel
• Nippon Oil & Sanyo to Establish Joint Venture for Fuel Cells
• Morphic Technologies Acquires Arcotronics
• FuelCell Energy Sells 3.9 Megawatts of Power Plants to The Linde Group
• FuelCell Energy Sells 3 DFC300 Power Plants to California’s EMWD
• Ballard Bags Contract to Supply Fuel Cells for 5 Buses in London
• Ballard to Sell Automotive Fuel Cell Assets to Daimler AG and Ford
• FuelCell Energy Sells 600 kW power plants to M&L/ICS
• FuelCell Energy Sells DFC300 Power Plant to Pacific Missile Range Facility on Kauai
• MTI MicroFuel Cells Extends Non-exclusive Collaboration with Korean Partner
• AFC Energy Completes First Phase of Akzo Nobel Fuel Cell Agreement
• Ballard Inks Supply Agreement with Voller
• CFC Solutions to Supply HotModule High Temperature Fuel Cell
• POSCO to Establish Fuel Cell Plant in Korea
• Acumentrics Receives Phase-II SBIR Funding for Fuel Cell Development
• Exide Inks Agreement with Ballard
• Altergy Systems Commences Automated Fuel Cell Assembly Line
• ECOtality Acquires Online Retailer Fuel Cell Store
• Plug Power Takes over General Hydrogen
• Plug Power Completes the Acquisition of Cellex Power Products
• Protonex Completes Acquisition of Mesoscopic Devices
• Rolls-Royce Fuel Cell Systems Acquires Assets of SOFCo-EFS Holdings LLC
• Millennium Cell Acquires Remaining Stake in Gecko Energy
• Tyco Electronics and DMFCC Signs Design and Manufacture Agreement
• IdaTech Signs Distribution Agreement with Three Companies
• Daiichi Kigenso and Tanaka Chemical Sign Agreement for Fuel Cell Materials
• E.ON UK Enters into Agreement with CFCL
  • CMR Fuel Enters into Collaborative Agreementwith Samsung
  • STMicroelectronics Enters into an Agreementwith CEA
  • ARSC Receives First HydraStax® Order from TeleBlu
  • ElectroChem Partners with K-PAS and Phadke
  • VIASPACE Partners with e-Fuel Cell Technologies
  • Heliocentris Enters into Distribution Agreement withParker
  • Ceramic Fuels Enters into Partnership with Jülich
  • CMR Fuel cells Enters into Collaborative Agreementwith Xaar and Solvay
  • Cenergie Opens POC Production Factory in France
  • NTT DoCoMo Signs an Agreement with Aquafairy
  • Catamount Acquires 50% Stake in EPG Fuel Cell
  • Lumasense Technologies Acquires Andros
  • Siemens VDO Acquires Electric Drive Operation ofBallard Power Systems
  • A123Systems Acquires Hymotion
  • Hydrogenics Inks an Agreement with Heliocentris
  • Hydrogenics and LiftOne Alliance bags Award fromGreater Columbia Fuel cell Challenge
  • IdaTech Signs an Agreement with Chloride Group
  • BASF Acquires PEMEAS GmbH
  • Medis Technologies and Israel Aircraft IndustriesEnter into an Agreement
  • NexTech Materials and Plug Power Form Collaborationfor SOFC Development
  • Voller Energy Group Signs MOU with Conergy
  • Mitsubishi and Battelle Memorial Institute EstablishJoint Venture for Fuel Cells
  • Nuvera Fuel Cells and QuestAir Technologies Enter intoSupply Agreement
  • Neah Power Systems Enters into Contractwith MTBSolutions
  • Voller Energy Signs MoU with Calor Gas
  • FCT Signs Agreement with Siemens Power Generation
  • Sandia Signs Agreement with Sharp
  • Webasto and Vaillant Group Sign Agreement forFuel Cell Development
  • Plug Power and Ballard to Develop PEM Fuel CellPrototype for the US DoD
  • Neah Power Enters into Alliance with Danfoss
  • Quantum Fuel Systems Acquires Strategic Stake inAdvanced Lithium
  • Hydrogenics Secures Supply Contract fromAmerican Power
  • Hydrogenics Signs Supplier Agreement with Linde Gas
  • IdaTech Secures CERDEC Contract for DevelopingTactical Fuel cell Generator
  • IdaTech Enters into Supplier Agreement with IGSAand Norco
  • Rolls-Royce Establishes New US Subsidiaryfor Fuel Cells
  • PEMEAS Completes E-TEK Merger
  • American Security Resources Acquires EGO Design
  • Astris Energi Appoints Tropical as Reseller in Greece
  • Ceramic Fuel Cells Partners with Precision Flow
  • Direct Methanol Signs Production Agreementwith Elentec
  • POSCO Forms Joint Venture with KEPCO Subsidiary
  • Ballard Enters into Supply Deal with General Hydrogen
  • Nuvera, Centro Ricerche and Fiat Powertrain toJointly Research Fuel Cell Propulsion
  • Nuvera and Deka Batteries Form Joint Venture to DevelopHybrid Propulsion for Industrial Vehicles
  • Plug Power Enters into Distribution Agreementwith FDT Associates
  • University of Illinois Develops Membraneless Fuel Cell
  • MSU Develops Longer Lasting Fuel Cell
  • Chiste Corporation Acquires HydroGen, LLC
  • Gruppo De Nora, PEMEAS Merges Fuel Cell Business
  • US Defense Selects DuPont Fuel Cells for DACF
  • Voller Energy Acquires KAT-Chem and Starts ReformerActivities
  • Sumitomo, Nippon, Acumentrics Form Joint Venture inJapan
  • VIASPACE Signs Agreement with Elentec for Fuel CellCartridges
  • DaimlerChrysler AG, General Motors Signs Agreementwith US DoE
  • Rolls-Royce Inks Fuel Cell Agreement With SingaporeanConsortium
  • Pacific Fuel Cell Corp. Collaborates with Bourns, Inc.for nanoMEA Process
  • Ballard Enters into Supply Deal for Fuel Cell-PoweredLift Truck Market
  • ARSC Concludes Acquisition of EGO Design, Inc
  • Pacific Fuel Cell Acquires Certain Rights to CarbonNanotube MEA
  • Whistler, Inc. Acquires Fuel Cell VisualizationTechnology
  • Ballard Inks Supply Deal with Cellex
  • Ceramic Fuel Cells Signs Letter of Intent with EWEfor CHP systems
  • Ballard’s Mercedes-Benz Citaro Fuel Cell BusesIntroduced on Beijing Roads
  • Hydrogenics Rolls Out HyPM Fuel Cell Products
  • Meidensha, Siemens Power Generation to Form JointVenture in Japan
  • Fuel Cell Energy to Deliver Fuel Cell Stacks to MTU
  • PolyFuel’s Hydrocarbon DMFC Reachesthe 5,000-Hour Mark
  • Manhattan Scientifics Obtains Patent for Micro FuelCells in Japan
  • LG Chem to Commercialize Micro Fuel Cells.
  • Chrysalix Energy Management Unleashes New FuelCell Technology Investments
  • Ticona Unveils Prototype of Plastic Fuel Cell
  • Ashlawn Secures Contract for Fuel Cell Productionfrom US Army
  • DaimlerChrysler and Ford Acquire Ballard' s GermanFuel Cell System Business
  • Hydrogenics Acquires Equity in Stuart Energy Systems
  • Ener1 Acquires Giner Electrochemical
  • Astris Energi Acquires Czech Affiliate
  • GenCell to Supply 40 kW Fuel Cell System
  • Nanosys and Sharp Partner for Nanotechnology-EnabledFuel Cells
  • ATI Bags Contract to Develop Fuel Cell Materials
  • MTI Develops Micro Fuel Cells to Power Mobile Phones

7. Strategic Corporate Developments in Recent Past

• Avista Labs Renamed as ReliOn
• UTC and Shell Hydrogen to Disband HydrogenSource
• Pacific Fuel Cell Acquires Intellectual Property
• Quantum Acquires Starcraft Corporation
• Renault SA Acquires Stake in Nuvera Fuel Cells
• EnerTad and Gepafin Acquire Stake in Ansaldo Fuel Cells
• Proton Energy Acquires Northern Power Systems
• Toshiba Acquires Toshiba International Fuel Cells Corp
• FuelCell Energy Sells SOFC Operations to Versa Power Systems
• Maxwell and Hydrogenics Form Strategic Alliance
• Areva Group’s Helion Develops First French Fuel Cell Stack
• Protonex Enters into an Agreement with Parker Hannifin
• Astris and El.Ma Sign Strategic Agreement
• Praxair Canada’s Hydrogen Fueling Systems for Fuel Cells
• GM Signs Agreement with Shanghai Auto
• NASA Buys Fuel Cell System from Hydrogenics
• Hydrogenics Delivers HyPM 10 Power Module to Quantum Fuel Systems
• SFC and Max Power Develop Methanol Fuel Cell for Sailboats
• Buderus and IdaTech Team Up with RWE to Develop CHP Fuel Cells
• Precision Industrial Automation Receives Grant
• FuelCell Energy Signs Agreement with US Army Unit
• IdaTech Signs Up RENCO for Fuel Cell Systems
• Plug Power Signs Agreement with Tyco for Gencore System
• Ballard Inks Agreement with Heliocentris Energy
• First Bi-Fuel Fuel Cell Debuts at Vattenfall Europe
• Japan and US Sign Agreement to Cooperate on Fuel Cell Development
• GM Fuels Fuel Cell Research Project
• FuelCell Energy Acquires Global Thermoelectric
• Teleflex Inc Acquires Koltec-Necam BV
• Astris and Care Action Form Joint Venture
• Sumitomo and Acumentrics form Joint Venture to Sell Fuel Cells in Japan
• UTC and Nissan to Develop Fuel Cell Technology
• Voller Selects Cixxx to Distribute Fuel Cell Products
• Webasto Grants Fuel Cell Contract
• MTI Partners with Gillette to Develop Fuel Refilling Systems
• MARUBENI and Plug Power Enter into Distribution Partnership
• Major Automakers Cooperate On Fuel Cell Technology Development
• Proton Terminates Distribution Agreement
• SMP Signs Contract to Support DOE Program
• GrafTech Bags Supply Contract from Ballard
• Fuel Cell Technologies and California’s AQMD Enter into Contract
• IdaTech Obtains US Dept of Energy Fuel Cell Award
• Greenlight Power Obtains $3 Million Orders for Fuel Cell Testing
• Hydrogenics Acquires Greenlight
• General Motors and Dow Chemical Sign Deal for Supply of Fuel Cell System
• AAEC Signs Agreement with Select Molecular Technologies
• Palcan Fuel Cells Enters into Agreement with Clean Fuel Generation
• Dana Corporation Starts New Fuel Cell Support Centers
• Neutron Technologies and Fuel Cells Canada Join Forces
• NREL Builds Research Facility for Fuel Cell Technology
• Marubeni Sets Up Two Direct FuelCell Power Plants
• Two Fuel Cell Installations in the US
• AAEC’s Hydrogen Technology Makes FCVs More Affordable and Safe
• McDonald’s Adopts Fuel Cell Technology
• Toyota Leases Six Fuel Cell Hybrid Vehicles
• Eletropaulo Invests in Fuel Cells
• FuelCell Energy Invests in Versa Power
• Fuel Cell Energy’s Direct Fuel Cell Plant Dedicated
• CALSTART and Industry Leaders Put Fuel Cells in Transit Through Bus Initiative
• Sustainable Energy Technologies Expands Fuel Cell Customer Base
• GM Forms Strategic Alliance
• General Motors Unveils AUTOnomy Concept Car
• Ballard Launches Gas Diffusion Layer Product
• DuPont Partners with MTI
• Agreements between Ballard and UCAR
• UOP and Sud-Chemie Establish New Company
• Caterpillar and FuelCell Sign Agreement
• LG and FSES Develop Fuel Cells
• UTC Signs Agreements with Nissan
• Nuvera Starts New Fuel Cell Business
• Wartsila and Haldore Topsoe Reach Agreement
• Palcan Signs MoU with Chinese Companies
• NEC Jointly Develops Micro Fuel Cell
• European Commission Establishes High Level Group
• Fuel Cell Technologies Enters into Agreement

8. Focus on Select Players

• Acumentrics Corp. (US)
• Alternative Energy Corporation (US)
• Ansaldo Fuel Cells SpA (Italy)
• Apollo Energy Systems Inc. (US)
• Areva Group (France)
• Arotech Corp. (US)
• Astris Energi Inc. (Canada)
• Axane Fuel Cells (France)
• Ballard Power Systems Inc. (Canada)
• Ball Aerospace & Technologies Corp. (US)
• BCS Fuel Cells (US)
• Ceramic Fuel Cells Ltd. (Australia)
• Ceres Power Holdings Plc (UK)
• CFC Solutions GmbH (Germany)
• Distributed Energy Systems Corp. (US)
• Northern Power Systems
• Proton Energy Systems
• Electro-Chem-Technic (UK)
• Fuel Cell Energy Inc. (US)
• Hydrogenics Corp. (Canada)
• IdaTech LLC (US)
• Independent Power Technologies (Russia)
• Mitsubishi Heavy Industries Ltd. (Japan)
• Morgan Fuel Cells (UK)
• MTI MicroFuel Cells Inc. (US)
• Nuvera Fuel Cells Inc. (US)
• Plug Power Inc. (US)
• Quantum Fuel Systems Technologies Worldwide, Inc. (US)
• ReliOn Inc. (US)
• RWE Fuel Cells GmbH (Germany)
• SFC Smart Fuel Cell AG (Germany)
• Siemens Power Generation (Germany)
• Teledyne Energy Systems Inc. (US)
• UTC Fuel Cells (US)
• Voller Energy Group Plc (UK)

9. Global Market Perspective

• Table 14: World Recent Past, Current & Future Analysis for Fuel Cells by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
• Table 15: World 10-Year Perspective for Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, and Rest of World for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)
• World Market for Fuel Cells - Regional Market Analysis by Cell Type
• Table 16: World Recent Past, Current & Future Analysis for Phosphoric Acid Fuel Cells by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
• Table 17: World 10-Year Perspective for Phosphoric Acid Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, and Rest of World for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)
• Table 18: World Recent Past, Current & Future Analysis for Molten Carbonate Fuel Cells by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
• Table 19: World 10-Year Perspective for Molten Carbonate Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, and Rest of World for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)
• Table 20: World Recent Past, Current & Future Analysis for Alkaline Fuel Cells by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
• Table 21: World 10-Year Perspective for Alkaline Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, and Rest of World for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)
• Table 22: World Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
• Table 23: World 10-Year Perspective for Solid Oxide Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, and Rest of World for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)
• Table 24: World Recent Past, Current & Future Analysis for Proton Exchange Membrane Fuel Cells by Geographic Region - US, Canada, Japan, Europe and Rest of World Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
• Table 25: World 10-Year Perspective for Proton Exchange Membrane Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, and Rest of World for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

III. MARKET

1. United States

• A. Market Analysis
  • Outlook
  • Trends and Issues
  • Small Fuel Cell Sector Solidifies Presence in Market
  • Fuel Cells: The American Advantage
  • Table 26: US Fuel Cell Market by Application - Power Generation, Military/Space, Transportation, Portable Electronics and Others: 2004, 2008 & 2012 (includes corresponding Graph/Chart)
  • Table 27: Fuel Cell Forecasts by Application in the US: 2015P (includes corresponding Graph/Chart)
  • Automotive Applications: Still Far Away
  • Innovation in Mobile Technology Fuels MicroCell Advancement
  • Distributed Power and Cogeneration PromiseOpportunities
  • Table 28: Load Leveling Sector in the US: 2001 and 2006 (US$ Million) (includes corresponding Graph/Chart)
  • Alternate Energy Sources Gain Attention
  • Table 29: Renewable Energy Segments in the US: 1995, 2000, and 2005 (US$ million) (includes corresponding Graph/Chart)
  • Table 30: Generation of Electric Power in the US from Various Fuels-Coal, Nuclear, Natural Gas, Hydroelectric, Petroleum, and Other Renewables (includes corresponding Graph/Chart)
  • Market Participants
  • Growth Factors
  • Market Constraints
  • Research Scenario
  • Government Initiatives
  • Overview
  • Role in Promoting a Hydrogen Economy
  • Energy Policy Act
  • Renewable Portfolio Standards
  • FreedomCAR Program
  • FreedomFuel Program
  • Solid State Energy Conversion Alliance
  • Programs at State Level
  • Initiatives in Select US States
  • California
  • Texas and Ohio
  • Michigan
  • Strategic Corporate Developments
  • Strategic Corporate Developments in Recent Past
  • Focus on Select Players
  • Acumentrics Corp.
  • Alternative Energy Corporation
  • Apollo Energy Systems Inc.
  • Arotech Corp
  • Ball Aerospace & Technologies Corp
  • BCS Fuel Cells
  • Distributed Energy Systems Corp
  • Fuel Cell Energy Inc
  • IdaTech LLC
  • MTI MicroFuel Cells Inc
  • Nuvera Fuel Cells Inc.
  • Plug Power Inc
  • Quantum Fuel Systems TechnologiesWorldwide, Inc.
  • ReliOn Inc
  • Teledyne Energy Systems Inc
  • UTC Fuel Cells
• B. Market Analytics
  • Table 31: US Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 32: US 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

2. Canada

• A. Market Analysis
  • Outlook
  • Overview
  • Future Potential for Canadian FuelCell Technologies
  • Market Activity
  • Fuel Cell Programs
  • Government Programs
  • Market Snapshots
  • Strategic Corporate Developments
  • Strategic Corporate Developments in Recent Past
  • Focus on Select Players
  • Astris Energi Inc
  • Ballard Power Systems Inc.
  • Hydrogenics Corp
• B. Market Analytics
  • Table 33: Canadian Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 34: Canadian 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

3. Japan

• A. Market Analysis
  • Outlook
  • Fuel Cells: A Promising Market
  • Japanese Households Offer Huge Growthfor Fuel Cells
  • Oil and Gas Companies in the Cogeneration Fray
  • Increased Lifetime at Reduced Costs toBe the Goals
  • Fuel Cells Ideal for Advanced MilitaryApplications
  • Mobile Applications to Fuel Growth
  • Challenges Ahead for the Developers to DeliverQuality Products
  • Government and Industry Initiatives
  • Future Potential
  • Fuel Cell Vehicles
  • Stationary Cogeneration
  • Cost Constraints
  • Strategic Corporate Developments
  • Strategic Corporate Developments in Recent Past
  • Mitsubishi Heavy Industries Ltd - A Major Player
• B. Market Analytics
  • Table 35: Japanese Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 36: Japanese 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

4. Europe

• A. Market Analysis
  • Outlook
  • Overview
  • Renewable Energy Sector
  • Research Programs
  • Historic Data
  • Table 37: EC Aid for Fuel Cell Development Based on End-Use- Transport, Stationary, Common (H2), and Portable: Historic Data for 1999-2001 (includes corresponding Graph/Chart)
  • Table 38: EC Aid for Fuel Cell Development Based on Cell Technology- PEM, Hydrogen, Solid Oxide, Fuel Purchase, Molten Carbonate, and Direct Methanol: Historic Data for 1999- 2001 (includes corresponding Graph/Chart)
  • Highlights of Key Stationary Fuel Cell Products andProjects in Europe
  • Focus on Select Players
  • Ansaldo Fuel Cells SpA (Italy)
  • Areva Group (France)
  • Axane Fuel Cells (France)
  • Ceres Power Holdings Plc (UK)
  • CFC Solutions GmbH (Germany)
  • Electro-Chem-Technic (UK)
  • Independent Power Technologies (Russia)
  • Morgan Fuel Cells (UK)
  • RWE Fuel Cells GmbH (Germany)
  • SFC Smart Fuel Cell AG (Germany)
  • Siemens Power Generation (Germany)
  • Voller Energy Group Plc (UK)
• B. Market Analytics
  • Table 39: European Recent Past, Current & Future Analysis for Fuel Cells by Geographic Region - France, Germany, UK, Italy and Rest of Europe Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 40: European Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 41: European 10-Year Perspective for Fuel Cells by Geographic Region - Percentage Breakdown of Dollar Sales for France, Germany, UK, Italy and Rest of Europe Markets for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)
  • Table 42: European 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

4a. France

• A. Market Analysis
  • Outlook
  • An Overview
  • Strategic Corporate Developments
• B. Market Analytics
  • Table 43: French Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 44: French 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

4b. Germany

• A. Market Analysis
  • Outlook
  • Future Potential
  • Table 45: Fuel Cell Market in Germany by Application Area - Power Generation, Transportation, Portable Electronics, Industrial Stationary and Other Applications: 2010 & 2015 (includes corresponding Graph/Chart)
  • Primary Fuel Cell Programs
  • Strategic Corporate Developments
• B. Market Analytics
  • Table 46: German Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 47: German 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

4c. United Kingdom

• A. Market Analysis
  • Outlook
  • Government Initiatives
  • Strategic Corporate Developments
• B. Market Analytics
  • Table 48: UK Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 49: UK 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

4d. Italy

• A. Market Analysis
  • Outlook
  • An Overview
  • Strategic Corporate Developments
• B. Market Analytics
  • Table 50: Italian Recent Past, Current & Future Analysis for Fuel Cells by Cell Type - Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 51: Italian 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)

4e. Rest of Europe

• A. Market Analysis
  • Outlook
  • Denmark
  • Iceland
  • Switzerland
  • Norway
  • Spain
  • Sweden
  • Russia
  • Strategic Corporate Developments
• B. Market Analytics
  • Table 52: Rest of Europe Market for Fuel Cells - Recent Past, Current & Future Analysis by Product Segment for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 53: Rest of Europe 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003,2007 & 2012 (includes corresponding Graph/Chart)

5. Rest of World

• A. Market Analysis
  • Outlook
  • Australia
  • Pacific Rim
  • New Zealand
  • India
  • China
  • Overview
  • Transportation: The Focus Sector
  • Southeast Asia
  • Southeast Asia Fuel Cells Market: Limitationsin Power Generation
  • Biomass Power Generation Poses DirectCompetition to Fuel Cells Market
  • Concentration on Various RenewableTechnologies Hinders Fuel CellsDevelopment
  • Over-Priced Fuel Cells Technology RestrainsCommercialization
  • Inconsistent Regulations Curtail Development ofFuel Cells Technology
  • Taiwan
  • Developing Fuel Cell Technology in theTaiwanese Market
  • A Potential Market for Fuel Cells
  • Opportunities for OEMs
  • Transportation - Another Segment OfferingHuge Potential
  • Strategic Corporate Developments
  • Ceramic Fuel Cells Ltd. (Australia) -A Key Regional Player
• B. Market Analytics
  • Table 54: Rest of World Market for Fuel Cells - Recent Past, Current & Future Analysis by Product Segment for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells Markets Independently Analyzed with Annual Sales in US$ Million for Years 2003 through 2012 (includes corresponding Graph/Chart)
  • Table 55: Rest of World 10-Year Perspective for Fuel Cells by Cell Type - Percentage Breakdown of Dollar Sales for Phosphoric Acid Fuel Cells, Molten Carbonate Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells, and Proton Exchange Membrane Fuel Cells for Years 2003, 2007 & 2012 (includes corresponding Graph/Chart)