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MARKET COMMENT
By
Carburton Street, London – Six months ago, this article looked at fuel cells and pondered the prospects for this alternative source of energy. Ballard Power Systems (Nasdaq: BLDP) was one of the companies highlighted as a potential beneficiary if the cars on our roads became fuel cell friendly. Since the article, shares in Ballard have endured a roller coaster ride, which reflect the general feeing by investors towards this type of technology. The market appears firmly divided into three main camps. Those who believe fuel cells powered vehicles will never replace the internal combustion engine. Then, there are those who know the days for petrol-guzzling cars are numbered but prefer to opt for the simpler solution of battery powered vehicles. And finally, die-hard fans of fuel cells deem it is only a question of time before their technology takes over as the main provider of energy for our cars. Companies like Ballard Power Systems are recognized as one of the leaders in the development of fuel cells. The company started 17 years ago but is yet to make a profit. This just shows how long it can take before some ideas become profitable, if indeed they ever do. Despite their strong liaison with motor manufacturers, which include DaimlerChrysler (NYSE: CDX) and General Motors (NYSE: GM), a commercially viable fuel cell car for the average motorist still looks some way off. Part of the reason lies in the lack of commitment by national governments that are more concerned with tax receipts from petrol levies than the protection of the environment. A noticeable exception is the State of California, which has taken active steps to ensure at least 10% of the vehicles sold by the year 2003 are at least partially emission free. However, if companies like Ballard are to benefit from this switch to a cleaner source of energy, they must ensure their fuel cells will match the expectation of consumers in both cost and power delivery. Where Next?
Fuel Cell Technology discussion board