The molten carbonate fuel cell industry is a rapidly developing sector within the broader fuel cell technology market. Companies in this industry specialize in creating reliable and cost-effective energy solutions through innovative fuel cell technology. Their offerings range from fuel cell power solutions for different applications to the production and commercialization of fuel cell systems. While major strides have been made in leveraging fuel cells for transit, trucks, rail, marine, and stationary power generation, there are continual advancements for broader applications and scopes. With strong commitments to sustainable and climate-neutral technologies, these companies are playing a pivotal role in shaping the future of clean energy.


Top 26 Molten Carbonate Fuel Cell Companies

1. Ballard Power Systems

  • Website: ballard.com
  • Headquarters: Burnaby, B.C., Canada
  • Founded: 1979
  • Headcount: 501-1000
  • Latest funding type: Post Ipo Equity
  • LinkedIn

Ballard Power Systems is a leading provider of fuel cell power solutions for a range of applications including transit, trucks, rail, marine, and stationary power generation. Their products include heavy-duty modules, fuel cell stacks, and marine modules. Ballard focuses on accelerating fuel cell technology adoption and delivering sustainable, zero-emission mobility solutions. They offer product development, energy system and powertrain integration, component design and manufacturing, testing services and stations, and licensing and technology transfer. Ballard is committed to providing the highest level of service to their customers worldwide.


2. cellcentric GmbH & Co. KG

  • Website: cellcentric.net
  • Headquarters: Kirchheim Teck/ Nabern, Baden - Württemberg, Germany
  • Founded: 2021
  • Headcount: 201-500
  • LinkedIn

Cellcentric is a leading global manufacturer of fuel cells, working towards climate-neutral and sustainable transportation. With 30 years of experience, they develop, produce, and commercialize fuel cell systems for efficient and clean energy generation. Through their partnership with Daimler Truck AG and the Volvo Group AB, they combine expertise to create innovative hydrogen-based solutions.


3. Doosan Fuel Cell America, Inc.

Doosan Fuel Cell America is a leading global fuel cell company offering clean and quiet fuel cell products, solutions, and services. We partner with businesses to power a cleaner, energy-independent tomorrow. Our multi-tiered service options are tailored to meet the specific needs of our customers. We also provide government incentives and programs to promote the adoption of fuel cells and energize education on clean energy technology.


4. Design By Analysis, Inc.

  • Website: dbaworks.com
  • Headquarters: Middlebury, Connecticut, United States
  • Founded: 1995
  • Headcount: 11-50
  • LinkedIn

Design By Analysis provides advanced technology solutions to various industries worldwide.


5. Pragma Industries

Pragma Industries is a leader in the design and production of compact hydrogen fuel cells. With 15 years of technological expertise, the company aims to democratize hydrogen as an energy vector, focusing on transport, mobility, and nomadism.


6. Appice

  • Website: appice.es
  • Headquarters: Madrid, Madrid, Spain
  • Founded: 2002
  • Headcount: 51-200
  • LinkedIn

APPICE is a Spanish SME that specializes in providing highly innovative products and services related to fuel cells and hydrogen technology for the market. Their objective is to contribute to society by offering innovative solutions for safety and clean energy efficiency.


7. FuelCell Energy

  • Website: fuelcellenergy.com
  • Headquarters: Danbury, Connecticut, United States
  • Founded: 1969
  • Headcount: 501-1000
  • Latest funding type: Grant
  • LinkedIn

FuelCell Energy is a company that offers efficient and clean solutions for decarbonizing power and producing hydrogen. They provide platforms for distributed power generation, fuel cell platforms, solid oxide electrolysis, and energy storage. Their solutions cater to various industries such as power utilities, microgrids, industrial applications, transportation, buildings, and waste management. They also offer energy services and have a strong focus on carbon capture and tri-generation. FuelCell Energy aims to enable the transition to clean energy and contribute to a sustainable future.


8. W. L. Gore & Associates

  • Website: gore.com
  • Headquarters: Newark, Delaware, United States
  • Founded: 1958
  • Headcount: 10001+
  • LinkedIn

Gore is a materials science company focused on advanced materials engineering and supply chain reliability. They support fuel cell industry leaders in the development of RE100 solutions using pure hydrogen fuel cell generators. Gore also supports global companies addressing sustainable energy issues with their GORE-SELECT® Membranes.


9. Yildiz Technical University

Yildiz.edu.tr is a company that is focused on the development of polybenzimidazole/graphene oxide composite membranes for high temperature PEM fuel cells. They aim to enhance the performance and efficiency of these fuel cells through their innovative materials. With their expertise in materials science and fuel cell technology, they provide cutting-edge solutions for the energy industry.


10. Implats

  • Website: implats.co.za
  • Headquarters: Johannesburg, Na - South Africa, South Africa
  • Founded: 1966
  • Headcount: 10001+
  • LinkedIn

Implats is a leading producer of platinum group metals (PGMs) with operations in South Africa, Zimbabwe, and Canada. They specialize in extracting PGMs from the Bushveld Complex and the Great Dyke, which are the two largest PGM-bearing ore bodies in the world. Implats aims to create value by maximizing their employees' potential and providing sustainable human settlements and decent accommodation for their workforce. They are dedicated to harnessing PGMs for fuel cell technology and contributing to a better future through resilient and sustainable operations.


11. Powerflow Systems

PowerFlow Systems, Inc. manufactures high quality industrial batteries for use in electric fork lifts, order pickers, pallet jacks, etc. Our line also includes explosion proof (EX) batteries, spark proof (EE) batteries, diesel starting, mine locomotive and special application batteries. PowerFlow Systems, Inc. has been in business since 1980 and is located in Terrell, Texas, Our modern manufacturing facility includes approximately 115,000 square feet of plant and warehouse space. PowerFlow Systems, Inc. is a privately owned corporation that has shown steady growth during our 20 years in the industry. Recently, this growth has stabilized at about 25% per year. This is a direct result of producing a high quality product, our low overhead expenses and our aggressive approach to the industrial battery market. The sale and distribution of PowerFlow batteries is throughout the continental United States. Export sales are to Canada, Puerto Rico and Hong Kong. Our network of factory authorized sales and service centers provide us with new battery sales as well as servicing batteries currently in use. PowerFlow Systems, Inc. is dedicated to supplying its customers with the highest quality batteries available today. Our Quality Control Department in conjunction with the Quality Assurance Program monitors all phases of the manufacturing process. This will allow PowerFlow Systems, Inc. to continue as a viable force in a highly competitive industry.


12. HyAxiom, Inc.

  • Website: hyaxiom.com
  • Headquarters: East Hartford, Connecticut, United States
  • Founded: 2014
  • Headcount: 201-500
  • LinkedIn

HyAxiom is a leading provider of stationary fuel cell solutions, specializing in clean hydrogen production and fuel cell solutions for land and maritime transportation. They develop, manufacture, and service hydrogen fuel cells for utility, industrial, and commercial customers seeking sustainable and reliable energy sources.


13. URE solar

  • Website: urecorp.com
  • Headquarters: Taipei, Taipei, Taiwan
  • Founded: 2005
  • Headcount: 1001-5000
  • LinkedIn

URE Corp is a leading provider of renewable energy solutions, specializing in energy storage systems, solar power products, and hydrogen fuel cell technology. They offer a comprehensive range of energy solutions for both commercial and residential customers.


14. Nuvera Fuel Cells, LLC

  • Website: nuvera.com
  • Headquarters: Billerica, Massachusetts, United States
  • Founded: 2000
  • Headcount: 51-200
  • Latest funding type: Acquired
  • LinkedIn

Nuvera is a fuel cell pioneer that specializes in manufacturing heavy-duty, zero-emission engines for mobility applications. With teams located in the U.S., Europe, and Asia, Nuvera provides clean, safe, and efficient products designed to meet the rigorous needs of industrial vehicles and other transportation markets.


15. Sunfire GmbH

  • Website: sunfire.de
  • Headquarters: Dresden, Sachsen, Germany
  • Founded: 2010
  • Headcount: 201-500
  • Latest funding type: Series D
  • LinkedIn

Sunfire is a company that offers innovative energy solutions through its CE-certified fuel cell technology. Their Sunfire-Home fuel cell enables autonomous power and heat supply for residential and commercial buildings. With applications in various sectors, Sunfire-Home has proven its efficiency and reliability nationwide. The company aims to provide secure and clean energy services, contributing to reduced CO2 emissions.


16. SFC Energy AG

  • Website: efoy-pro.com
  • Headquarters: Brunnthal, Alberta, Germany
  • Founded: 2000
  • Headcount: 201-500
  • LinkedIn

SFC Energy AG is a leading international supplier of hybrid power supply solutions. They specialize in stationary and mobile fuel cell technology, catering to various industries including oil and gas, safety/security, and telecommunications.


17. VDL Energy Systems

VDL Energy Systems develops sustainable energy storage and conversion systems, utilizing advanced PEM fuel cell and lithium-ion battery technology. Their offerings include hydrogen solutions for converting hydrogen into electrical energy and clean energy storage systems with capacities ranging from 60 kWh to >1000 kWh.


18. Horizon Fuel Cell Technologies Pte Ltd

  • Website: horizonfuelcell.com
  • Headquarters: Singapore, Central Region, Singapore
  • Founded: 2003
  • Headcount: 201-500
  • Latest funding type: Series Unknown
  • LinkedIn

Horizon is focused on decarbonising heavy transport by supplying the world’s highest power PEM fuel cells with the highest power density available today. By following a unique approach to start commercialization with small and simple products before entering larger and more complex applications, Horizon has emerged as the world's largest volume producer of commercial PEM fuel cell products. Horizon's wide range of capabilities has enabled the company to rapidly develop unique products with clearly defined competitive advantages over existing power or energy storage technologies, focusing on immediate to near-term commercial markets. Today, Horizon is able to produce extremely compact, lightweight PEM fuel cells at varying degrees of complexity and performance to suit the customer end-use scenario.


19. Mama-mea

Mama Mea is a company focused on manufacturing the development of fuel cells and related technologies in collaboration with various partners.


20. Hyzon Motors

  • Website: hyzonmotors.com
  • Headquarters: Rochester, New York, United States
  • Founded: 2019
  • Headcount: 201-500
  • Latest funding type: Post Ipo Equity
  • LinkedIn

Hyzon Motors is a global clean mobility company committed to accelerating the clean energy transition. With a focus on providing zero-emission vehicles powered by renewable, affordable hydrogen, Hyzon aims to bring environmental benefits to the world in a socially responsible manner.


21. Proton Motor Fuel Cell GmbH

  • Website: proton-motor.de
  • Headquarters: Puchheim, Bavaria, Germany
  • Founded: 1989
  • Headcount: 51-200
  • Latest funding type: Ipo
  • LinkedIn

Proton Motor is a CleanTech Competence company specializing in the development and production of integrations-ready fuel cell systems for the stationary, automotive, maritime, and rail sectors. With a focus on sustainability and decarbonization, they combine their own hydrogen fuel cells with selected components to create emission-free energy solutions from renewable sources. They also prioritize recycling, reuse, and extending the lifespan of their products and materials.


22. Loop Energy Inc.

  • Website: loopenergy.com
  • Headquarters: Burnaby, British Columbia, Canada
  • Founded: 2000
  • Headcount: 51-200
  • Latest funding type: Grant
  • LinkedIn

Loop Energy is a global company that specializes in hydrogen fuel cell technology. They offer innovative solutions for various industries, including construction equipment, transit buses, materials handling, and stationary power systems. With their patented fuel cell architecture, Loop Energy aims to increase fuel efficiency and reduce emissions. They have been selected by Wiggins Lift Co. to provide the fuel cell system for its hydrogen-powered eBull forklift product.


23. AFC Energy plc

  • Website: afcenergy.com
  • Headquarters: Cranleigh, Surrey, United Kingdom
  • Founded: 2006
  • Headcount: 51-200
  • Latest funding type: Ipo
  • LinkedIn

AFC Energy is a UK-based company specializing in hydrogen fuel cell technology. They offer a range of hydrogen fuel cells and hydrogen carrier fuel conversion technologies for organizations in need of affordable, flexible, and clean off-grid power. Their solutions are used in various industries such as construction, electric vehicle charging, shipping, and data centers.


24. Advent Technologies Holdings, Inc.

  • Website: advent.energy
  • Headquarters: Boston, Massachusetts, United States
  • Founded: 2006
  • Headcount: 51-200
  • Latest funding type: Post Ipo Equity
  • LinkedIn

Advent is a clean energy company specializing in fuel cell technology. They offer complete fuel cell systems that are low-cost, fuel-flexible, and resilient. Advent's fuel cells can convert hydrogen and other renewable fuels to electricity, making them ideal for power generation in various industries. With a world-class team of material scientists and electrochemists, Advent focuses on addressing clean energy challenges and decarbonizing the world.


25. SerEnergy A/S

  • Website: serenergy.com
  • Headquarters: Aalborg, Nordjylland, Denmark
  • Founded: 2006
  • Headcount: 51-200
  • Latest funding type: Acquired
  • LinkedIn

Serenergy is a company that specializes in fuel cell technology. They offer methanol-based fuel cells for various applications, including stationary power generation, range extenders for electric vehicles, and remote locations. Their fuel cells are environmentally friendly and have high electrical efficiency. Serenergy's solutions can be easily installed and repaired, with a single unit capable of being replaced in less than 15 minutes. They have a scalable and modular design, allowing for customization and flexibility. Their fuel cells are fueled by a methanol mix, which makes them less flammable than pure methanol.


26. GenCell Energy

  • Website: gencellenergy.com
  • Headquarters: Petah Tikva, Hamerkaz, Israel
  • Founded: 2011
  • Headcount: 51-200
  • Latest funding type: Post Ipo Equity
  • LinkedIn

GenCell offers unique fuel cell solutions that create clean off-grid and backup power for humanity.


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