Growth will be driven by the fact that fuel cells satisfy demand for renewable, environmentally friendly energy sources. Long regarded as a lackluster technology with limited applications, such as spacecraft, fuel cells are finally coming of age after more than half a century of development.
New technology is reported daily, deals are made, projects started and companies formed.
The excitement among investors and venture capitalists is soaring. Because these electrochemical devices convert fuels such as hydrogen and methanol directly into electrical energy without combustion, they create virtually no pollution. Moreover, new developments in catalysts and improved reliability have made them viable candidates in a broad range of energy applications. No doubt about it, within the next decade, fuel cells will be providing energy for cars and trucks, producing electricity for utilities, and heating and cooling homes and businesses. They may even replace the expensive batteries in palmtop computers, cellular phones and other portable electronics with power sources that can run for almost a year on a teaspoonful of alcohol.