Fuel Cell Summer Update: Is This (Finally) the Brink of Profitability?

By [email protected] Publicly listed fuel cell companies have yet to post a profitable year. But Canada’s Ballard Power Systems recently announced the next best thing: positive adjusted EBITDA over the trailing 12-month period ending on June 30.

So, is this another false start for fuel cells, or does it portend profits will soon come to the sector?

Ballard was founded in 1979, making this its 38th year of operations and 22nd as a public company. Its North American-listed compatriots — Plug Power, Hydrogenics and FuelCell Energy — have been publicly listed for almost as long. Last year, FuelCell Energy CEO Chip Bottone said the

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