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Hydrogenics

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uuid0005jnu

Namestring
Hydrogenics
Legal namestring
Hydrogenics Corporation
Websiteurl
hydrogenics.com
Company typeenum
Private
Founded yearint
2019
Descriptiontext

Hydrogenics was a Canadian-headquartered industrial technology company specializing in proton exchange membrane (PEM) fuel cell systems and electrolyzer technology for hydrogen production. Its two operating segments were (1) commercial fuel cell systems, most notably deployed in rail transportation through the Coradia iLint — recognized as the world's first hydrogen fuel cell passenger train — and the Coradia Stream H program, and (2) PEM electrolyzer systems marketed under the HyLYZER product line for industrial hydrogen generation. Manufacturing was centered at a facility in Herten, Germany for fuel cell production, with electrolyzer operations primarily based in Belgium.

Originally a NASDAQ-listed public company (HYGS) founded in Mississauga, Ontario in 1996, Hydrogenics was acquired by Cummins Inc. in 2019 for approximately $290 million. Cummins subsequently purchased Air Liquide's remaining 19% stake in 2023 to take full ownership. In April 2026, Cummins divested the Hydrogenics fuel cell business — including the Coradia iLint and Coradia Stream H programs and the Herten facility — to French rail company Alstom, retaining only the Belgian electrolyzer operations (now operated under the Accelera zero-emissions brand alongside Cummins' broader eMobility portfolio). Cummins recorded approximately $657 million in cumulative charges over a 15-month period leading up to the divestiture, citing weak demand and lower-than-expected hydrogen adoption. As a result, Hydrogenics no longer operates as an independent entity.

The company's revenue mechanics were anchored in B2B industrial equipment sales and long-cycle transportation programs, with the bulk of commercial traction concentrated in two rail deployments with Alstom as the lead OEM customer. Go-to-market relied on direct sales into rail operators and industrial hydrogen producers, supplemented by co-development partnerships; no pricing, subscription, or recurring-revenue model is disclosed. The company no longer exists as a standalone reporting entity following the April 2026 carve-out.

Short descriptiontext

Hydrogenics was a Canadian PEM fuel cell and electrolyzer technology company acquired by Cummins in 2019 for ~$290M; its fuel cell business (including Coradia iLint rail programs) was sold to Alstom in April 2026.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
501–1,000
akta.pro rankint
HeadquartersMississauga, Canada
HQ citystring
Mississauga
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
hydrogen fuel cells, PEM electrolysis, industrial hydrogen production, fuel cell rail systems, clean energy technology
Industry5 codes
1Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems)
CodeIMAGAHAMPrimaryYes
2Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM)
CodeEUACALAKPrimaryNo
3Hydrogen (Industrial & Mobility)
CodeIMAEACABPrimaryNo
4Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol)
CodeEUABAJACPrimaryNo
5Hydrogen CHP (Fuel Cell & H2-Ready Turbines)
CodeEUACAKAFPrimaryNo
NAICS code2 codes
  • Industrial Gas Manufacturing32512
  • Pump and Compressor Manufacturing33391
SIC code2 codes
  • Electrical Industrial Apparatus3620
  • Electronic & Other Electrical Equipment (No Computer Equip)3600
Product category
Hydrogen Fuel Cell and Electrolyzer Systems
Social media profiles1 record
Cost components5 values
Technology or R&D, Supply Chain, Personnel, Operations, Infrastructure
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

Hydrogenics designed, manufactured, and installed commercial hydrogen fuel cell systems and PEM (proton exchange membrane) electrolyzers. The company produced fuel cell powertrains for rail applications (Coradia iLint and Coradia Stream H programs) and electrolyzer systems (HyLYZER product line) for hydrogen production. Operations spanned fuel cell manufacturing in Herten, Germany, and electrolyzer production in Belgium.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Hydrogenics was a fuel cell and electrolyzer technology company that specialized in hydrogen energy solutions. The company operated two primary business segments: fuel cell systems for transportation (particularly rail applications) and electrolyzer technology for hydrogen production. In 2019, Cummins acquired Hydrogenics for approximately $290 million, and subsequently acquired Air Liquide's remaining stake. In April 2026, Cummins sold the Hydrogenics fuel cell business to Alstom, retaining only the Belgian electrolyzer operations. The company's fuel cell technology powered some of the world's most successful commercial fuel cell rail deployments, including the Coradia iLint and Coradia Stream H programs.

Product and service1 record
1Fuel Cell Technology
Scale indicator2 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
1Alstom
Strategic tierFlagshipTypeStrategic or Co-development PartnerAnnounced on2026-04-01
Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
1Plug Power
TypeDirect peer
Description

Plug Power is a direct peer offering PEM fuel cell systems and PEM electrolyzers (via its green hydrogen business) for mobility, material handling, and stationary applications, overlapping directly with Hydrogenics' core product lines.

2Ballard Power Systems
TypeDirect peer
Description

Ballard Power Systems designs and manufactures PEM fuel cell stacks and systems for heavy-duty mobility including buses, trucks, and rail — directly comparable to Hydrogenics' fuel cell rail and commercial transportation focus.

3Nel ASA
TypeDirect peer
Description

Nel ASA manufactures PEM and alkaline electrolyzers for industrial, mobility, and refueling applications, directly comparable to Hydrogenics' HyLYZER electrolyzer product line under Cummins/Accelera.

4ITM Power
TypeDirect peer
Description

ITM Power is a UK-based PEM electrolyzer manufacturer focused on large-scale green hydrogen production for industrial and mobility end-uses, comparable to Hydrogenics' electrolyzer business.

5Cummins (Accelera)
TypeBroad incumbent
Description

Cummins is the strategic parent that acquired Hydrogenics in 2019 and continues to operate the electrolyzer business through its Accelera zero-emissions brand; comparable as the operating platform that absorbed Hydrogenics' technology.

6Alstom
TypeBroad incumbent
Description

Alstom acquired Hydrogenics' fuel cell business in April 2026 to vertically integrate the Coradia iLint and Stream H hydrogen rail programs; comparable as the current owner and operator of Hydrogenics' flagship commercial rail technology.

7Bloom Energy
TypeBroad incumbent
Description

Bloom Energy manufactures solid oxide fuel cell systems for stationary power and has expanded into electrolyzers, broadly comparable to Hydrogenics' distributed generation and industrial fuel cell offerings.

8Thyssenkrupp nucera
TypeBroad incumbent
Description

Thyssenkrupp nucera is a large-scale electrolyzer technology provider focused on alkaline water electrolysis for industrial green hydrogen, comparable to Hydrogenics' industrial hydrogen production capabilities.

9SFC Energy
TypeEmerging player
Description

SFC Energy develops PEM fuel cell systems for off-grid and backup power as well as mobile applications, partially overlapping with Hydrogenics' stationary and commercial fuel cell product scope.

10AFC Energy
TypeEmerging player
Description

AFC Energy develops hydrogen fuel cell systems primarily for industrial off-grid power and EV charging, an emerging player partially comparable to Hydrogenics' stationary and industrial fuel cell applications.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles4 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds8 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors4 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Hydrogenics

Hydrogen Fuel Cell and Electrolyzer Systemshydrogenics.com

Hydrogenics was a Canadian PEM fuel cell and electrolyzer technology company acquired by Cummins in 2019 for ~$290M; its fuel cell business (including Coradia iLint rail programs) was sold to Alstom in April 2026.

What Hydrogenics does

Hydrogenics was a Canadian-headquartered industrial technology company specializing in proton exchange membrane (PEM) fuel cell systems and electrolyzer technology for hydrogen production. Its two operating segments were (1) commercial fuel cell systems, most notably deployed in rail transportation through the Coradia iLint — recognized as the world's first hydrogen fuel cell passenger train — and the Coradia Stream H program, and (2) PEM electrolyzer systems marketed under the HyLYZER product line for industrial hydrogen generation. Manufacturing was centered at a facility in Herten, Germany for fuel cell production, with electrolyzer operations primarily based in Belgium.

Originally a NASDAQ-listed public company (HYGS) founded in Mississauga, Ontario in 1996, Hydrogenics was acquired by Cummins Inc. in 2019 for approximately $290 million. Cummins subsequently purchased Air Liquide's remaining 19% stake in 2023 to take full ownership. In April 2026, Cummins divested the Hydrogenics fuel cell business — including the Coradia iLint and Coradia Stream H programs and the Herten facility — to French rail company Alstom, retaining only the Belgian electrolyzer operations (now operated under the Accelera zero-emissions brand alongside Cummins' broader eMobility portfolio). Cummins recorded approximately $657 million in cumulative charges over a 15-month period leading up to the divestiture, citing weak demand and lower-than-expected hydrogen adoption. As a result, Hydrogenics no longer operates as an independent entity.

The company's revenue mechanics were anchored in B2B industrial equipment sales and long-cycle transportation programs, with the bulk of commercial traction concentrated in two rail deployments with Alstom as the lead OEM customer. Go-to-market relied on direct sales into rail operators and industrial hydrogen producers, supplemented by co-development partnerships; no pricing, subscription, or recurring-revenue model is disclosed. The company no longer exists as a standalone reporting entity following the April 2026 carve-out.

Hydrogenics firmographics

Firmographics
Name
Hydrogenics
Legal name
Hydrogenics Corporation
Website
https://hydrogenics.com
Company type
Private
Founded year
2019
Operating status
Acquired
Headcount range
501–1,000 employees
Short description
Hydrogenics was a Canadian PEM fuel cell and electrolyzer technology company acquired by Cummins in 2019 for ~$290M; its fuel cell business (including Coradia iLint rail programs) was sold to Alstom in April 2026.
Ownership category
akta.pro rank

Hydrogenics industry classification

Industry
Product category
Hydrogen Fuel Cell and Electrolyzer Systems
NAICS
Industrial Gas Manufacturing (32512), Pump and Compressor Manufacturing (33391)
SIC
Electrical Industrial Apparatus (3620), Electronic & Other Electrical Equipment (No Computer Equip) (3600)
akta.pro primary industry
Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)
akta.pro secondary industries
Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM) (EUACALAK), Hydrogen (Industrial & Mobility) (IMAEACAB), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen CHP (Fuel Cell & H2-Ready Turbines) (EUACAKAF)

Keywords

  • Hydrogen fuel cells
  • PEM electrolysis
  • Industrial hydrogen production
  • Fuel cell rail systems
  • Clean energy technology

Where Hydrogenics is headquartered

Location

Headquarters

HQ city
Mississauga
HQ country
Canada
HQ region
North America

Offices1 record

Markets served

Hydrogenics business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Technology or R&D, Supply Chain, Personnel, Operations, Infrastructure

Hydrogenics product offering

Product offering

Core offering

Hydrogenics designed, manufactured, and installed commercial hydrogen fuel cell systems and PEM (proton exchange membrane) electrolyzers. The company produced fuel cell powertrains for rail applications (Coradia iLint and Coradia Stream H programs) and electrolyzer systems (HyLYZER product line) for hydrogen production. Operations spanned fuel cell manufacturing in Herten, Germany, and electrolyzer production in Belgium.

Product overview

Hydrogenics was a fuel cell and electrolyzer technology company that specialized in hydrogen energy solutions. The company operated two primary business segments: fuel cell systems for transportation (particularly rail applications) and electrolyzer technology for hydrogen production. In 2019, Cummins acquired Hydrogenics for approximately $290 million, and subsequently acquired Air Liquide's remaining stake. In April 2026, Cummins sold the Hydrogenics fuel cell business to Alstom, retaining only the Belgian electrolyzer operations. The company's fuel cell technology powered some of the world's most successful commercial fuel cell rail deployments, including the Coradia iLint and Coradia Stream H programs.

Differentiator

Problem solved

Functional benefit

Products and services

  • Fuel Cell Technology

Companies that use Hydrogenics

Customer profile

Segments1 record

Ideal customer profiles2 records

Hydrogenics technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Hydrogenics partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • AlstomflagshipStrategic or Co-development Partner · 1 April 2026

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Hydrogenics competitors and assessment

Company assessment

Direct peers

  • Plug Power: Plug Power is a direct peer offering PEM fuel cell systems and PEM electrolyzers (via its green hydrogen business) for mobility, material handling, and stationary applications, overlapping directly with Hydrogenics' core product lines.
  • Ballard Power Systems: Ballard Power Systems designs and manufactures PEM fuel cell stacks and systems for heavy-duty mobility including buses, trucks, and rail — directly comparable to Hydrogenics' fuel cell rail and commercial transportation focus.
  • Nel ASA: Nel ASA manufactures PEM and alkaline electrolyzers for industrial, mobility, and refueling applications, directly comparable to Hydrogenics' HyLYZER electrolyzer product line under Cummins/Accelera.
  • ITM Power: ITM Power is a UK-based PEM electrolyzer manufacturer focused on large-scale green hydrogen production for industrial and mobility end-uses, comparable to Hydrogenics' electrolyzer business.

Broad incumbents

  • Cummins (Accelera): Cummins is the strategic parent that acquired Hydrogenics in 2019 and continues to operate the electrolyzer business through its Accelera zero-emissions brand; comparable as the operating platform that absorbed Hydrogenics' technology.
  • Alstom: Alstom acquired Hydrogenics' fuel cell business in April 2026 to vertically integrate the Coradia iLint and Stream H hydrogen rail programs; comparable as the current owner and operator of Hydrogenics' flagship commercial rail technology.
  • Bloom Energy: Bloom Energy manufactures solid oxide fuel cell systems for stationary power and has expanded into electrolyzers, broadly comparable to Hydrogenics' distributed generation and industrial fuel cell offerings.
  • Thyssenkrupp nucera: Thyssenkrupp nucera is a large-scale electrolyzer technology provider focused on alkaline water electrolysis for industrial green hydrogen, comparable to Hydrogenics' industrial hydrogen production capabilities.

Emerging players

  • SFC Energy: SFC Energy develops PEM fuel cell systems for off-grid and backup power as well as mobile applications, partially overlapping with Hydrogenics' stationary and commercial fuel cell product scope.
  • AFC Energy: AFC Energy develops hydrogen fuel cell systems primarily for industrial off-grid power and EV charging, an emerging player partially comparable to Hydrogenics' stationary and industrial fuel cell applications.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Hydrogenics social profiles

Digital presence

Hydrogenics financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Hydrogenics leadership team

Management profile

Number of profiles

Profiles4 records

Hydrogenics funding detail

Funding detail

Funding overview

Funding rounds8 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Hydrogenics M&A and investment

M&A and investment

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hydrogenics

What does Hydrogenics do?

Hydrogenics designed, manufactured, and installed commercial hydrogen fuel cell systems and PEM (proton exchange membrane) electrolyzers. The company produced fuel cell powertrains for rail applications (Coradia iLint and Coradia Stream H programs) and electrolyzer systems (HyLYZER product line) for hydrogen production. Operations spanned fuel cell manufacturing in Herten, Germany, and electrolyzer production in Belgium.

Is Hydrogenics a public or private company?

Hydrogenics is a private company. It is classified as corporate owned and is currently acquired.

When was Hydrogenics founded?

Hydrogenics was founded in 2019. It employs 501 to 1,000 people.

Where is Hydrogenics based?

Hydrogenics is headquartered in Mississauga, Canada, in the North America region.

Who are Hydrogenics's main competitors?

Direct peers on record are Plug Power, Ballard Power Systems, Nel ASA and ITM Power. Broad incumbents are Cummins (Accelera), Alstom, Bloom Energy and Thyssenkrupp nucera. Emerging players are SFC Energy and AFC Energy.

Does Hydrogenics have an API?

No public API is recorded for Hydrogenics.

What industry is Hydrogenics in?

Hydrogenics's product category is Hydrogen Fuel Cell and Electrolyzer Systems. Its primary akta.pro industry code is IMAGAHAM, Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems), with a secondary code of EUACALAK, Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM). Its NAICS code is 32512 and its SIC code is 3620.

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Live signals
openPR.comWater Power Hydrogen Stove Market Future Business Opportunities 2026-2033 | Hydrogenics Corporation • Ballard Power Systems • Plug Power IncThe article discusses the Water Power Hydrogen Stove Market, providing insights into trends, growth drivers, challenges, and opportunities projected from 2026 to 2033. It emphasizes the strong global presence of the market and highlights the importance of strategic decision-making for market participants. The report includes an analysis of various companies within the market sector.openPR.comFuture Perspectives: Key Trends Shaping the Regenerative Fuel Cell Market Until 2030The regenerative fuel cell market is projected to reach $3.8 billion by 2030, growing at a compound annual growth rate of 14.4%, driven by investments in green hydrogen infrastructure and increasing demand for long-duration energy storage solutions. In June 2023, Cummins Inc. acquired a 19% stake in Hydrogenics Corporation to strengthen its hydrogen and fuel cell capabilities, while in February 2023, Blue World Technologies launched the CellPack Stationary methanol fuel cell generator for the telecommunications sector. Key growth factors include the global push toward decarbonization, expanding renewable energy capacities, and rising adoption of regenerative fuel cells in remote and off-grid power systems.Persistence Market ResearchFuel Cell Market Share, Trends & Competitive Outlook, 2032The global fuel cell market is projected to reach approximately US$32.2 billion by 2033, expanding at a compound annual growth rate (CAGR) of 15.4% during the 2026–2033 forecast period, up from the historical CAGR of 13.2%. Asia-Pacific dominates with over 75% revenue share, while North America represents the fastest-growing region at 16.7% CAGR, driven by supportive regulatory frameworks including the U.S. Inflation Reduction Act's $30 billion in hydrogen-related tax credits and subsidies. Key industry developments include strategic partnerships (Doosan Fuel Cell's June 2025 MOU with Seorabeol City Gas), technology advancements (EKPO's 400 kW NM20 stack module), and market consolidation (Cummins' 2023 buyout of Air Liquide's stake in Hydrogenics), reflecting accelerating commercialization and ecosystem development across transportation, stationary power, and portable power applications.FortunebusinessinsightsPEMFC Market for Stationary Application Size, Share [2032]The global proton exchange membrane fuel cell (PEMFC) market for stationary application was valued at USD 558.05 million in 2024 and is projected to reach USD 2,873.19 million by 2032, exhibiting a CAGR of 25.73% during the forecast period. North America dominated the market with a valuation of USD 343.36 million in 2024, while Asia Pacific is emerging as the second-largest market with a projected CAGR of 31.27% through 2032. Key industry developments include Plug Power's 8 MW hydrogen fuel cell supply agreement with Energy Vault for California's Calistoga facility and Cummins' acquisition of Air Liquide's remaining 19% stake in Hydrogenics Corporation.AccelerazeroGlobal PEM electrolyzer manufacturingAccelera operates a global manufacturing network for PEM electrolyzers with facilities in Canada, Spain, Belgium, and the U.S., achieving a combined annual production capacity nearing 2 gigawatts. The company leverages its acquisition of Hydrogenics in 2019 to deploy HyLYZER systems across North America and Europe, supported by federal investments such as the Bipartisan Infrastructure Law and the Inflation Reduction Act. These facilities are designed to support widespread green hydrogen adoption and decarbonize industrial sectors.openPR.comHydrogen Fuel Cells Market CAGR 21.60% Innovations by Panasonic, Plug Power, Toshiba ESS, Bloom Energy, Ballard, SinoHytec, Hydrogenics, HondaThe hydrogen fuel cells market is projected to grow at a CAGR of 21.60% from 2025 to 2032, surpassing USD 28 billion by 2032. Growth is driven by clean energy demand and government policies, with key players including Panasonic, Plug Power, and Honda.BenzingaCummins Takes Full Ownership Of Hydrogenics, Adding Key Fuel Cell And Electrolyzer Technologies - CumminsCummins Inc has acquired L'Air Liquide SA's remaining 19% stake in Hydrogenics Corporation, taking full ownership of the company and its fuel cell and electrolyzer technologies. The acquisition reinforces Cummins' commitment to hydrogen technologies for decarbonization, with financial terms undisclosed. Under full ownership, Hydrogenics will continue supplying electrolyzer projects to Air Liquide.PR NewswireWorldwide Industry for Fuel Cells to 2027 - Rising Need to Diminish the Reliance on Oil And Fuel is Driving GrowthThe global fuel cell market was valued at US$709 million in 2019 and is projected to reach US$4,570.68 million by 2027, growing at a CAGR of 26.8%, driven by the rising need to reduce reliance on oil and increasing government support for sustainable energy. Key market players including Hydrogenics Corp., FuelCell Energy, Inc., Plug Power Inc., Bloom Energy, and Ballard Power Systems are identified as major companies offering products in this market. The report identifies electric vehicle growth and automotive sector investments exceeding US$150 billion toward producing 13 million EVs by 2025 as significant opportunities driving market expansion.BenzingaCummins Dives Into Hydrogen As Traditional Engine Business Stalls - Cummins (NYSE:CMI)Cummins Inc. has significantly expanded its hydrogen and fuel cell portfolio over the past year through a series of acquisitions, joint ventures, and partnerships, positioning itself for a future beyond traditional diesel engines. The company's New Power unit reported a $38 million EBITDA loss in Q2 on $10 million in revenue, which the company characterized as expected for an early-stage venture. Key moves include the $290 million acquisition of Hydrogenics Corp., a joint venture with NPROXX for hydrogen storage tanks, partnerships with Alstom for train fuel cells, and an MoU with Hyundai Motor Co., while also partnering with Air Liquide on the world's largest PEM hydrogen electrolysis plant in Canada.PR NewswireGlobal Automotive Fuel Cell Industry Outlook, 2020-2028 - Rising Demand for Fuel Cell Vehicles in Automotive & Transportation, Government Initiatives Promoting Hydrogen InfrastructureResearchAndMarkets announced the addition of an automotive fuel cell market forecast report estimating the market at 13.6 thousand units in 2020, projected to grow at a CAGR of 69.7% to reach 932.6 thousand units by 2028. Ballard Power Systems, Plug Power, Delphi Technologies, Doosan Corporation, Hydrogenics, and ITM Power are identified as key players in this market. Government initiatives supporting hydrogen infrastructure development and clean energy adoption are cited as primary growth drivers, while high vehicle costs and insufficient hydrogen infrastructure remain key challenges.