The following report was prepared and published by our sister platform SPEEDA—November 2023.

A fuel cell is a battery device that reacts hydrogen with oxygen to generate electricity, heat, and water. They are primarily used in transport applications such as fuel cell vehicles (FCVs) and forklifts, stationary applications such as household-use energy farms (ENE-FARM) and industrial power supplies, and portable applications including mobile batteries. This report provides an overview of fuel cell technology, its challenges, and its future potential, with a focus on its use in transport and stationary applications.

The private sector's efforts alone are unlikely to be sufficient for driving the widespread adoption of fuel cells. Achieving such a goal is therefore likely to require support in the form of government policies, with a movement already underway involving both cooperation between public and private sector entities and across international borders. Going forward, the market is nearing a critical stage that will determine whether the widespread adoption of this technology is feasible.