Identified as a practical solution to many of the technological and environmental problems facing the world today, the proton exchange membrane (PEM) fuel cell is appropriate as a power source for transportation, stationary distributive power, and small-scale applications such as portable electronic products. Applications for all types of fuel cells are still evolving. In the process of this evolution, the different proton exchange membrane materials and MEAs will evolve and be adapted to more specific uses.
 
Identifying how researchers are solving the search for better membranes that have greater tolerances to poisoning, greater durability, and lower costs is a major objective of the report. The U.S. Japanese, Chinese, and European Union governments are pouring billions of dollars of loans, subsidies, and outright grants into fuel cell research and development — and at the same time there has been a series of brutal confrontations between Congress and the President’s administration over continued fuel cell vehicle funding. Meanwhile, European and Far Eastern government subsidies increase.
 
Commercialization of the fuel cell is not solely influenced by engineers and scientists working on stacks and reformers. (This is also brought about by subsidies by the government, lobbying efforts, venture capitalists, and most of all by some consumers actually finding a need or desire for the product.) A major cost issue addressed is the critical issue of the catalyst component. This analysis focuses on the three main components of the membrane electrode assembly (MEA) for proton exchange membrane fuel cell (PEMFC).

These include:

•Membranes
•Gaseous diffusion layers and bipolar plates
•Catalysts and inks

Polymer membranes that are the electrolyte and therefore the heart of the fuel cell, and they receive extra attention. The report also examines the history and advancing technology of these components, the companies involved in these developments, the current and projected incentives, and the projected markets for such technologies.
  
REASONS FOR DOING THE STUDY
 
Fuel cells are viewed as potential candidates for auxiliary power, mobile power, stationary distributed or central power, and portable product power. Advances in the technology are made, but sometimes these advances reveal even more challenges to be met. Slowly there is the realization that total dependency on hydrocarbon fuels is not a viable economic option. Proton exchange membrane fuel cells have a part in securing energy security for the country, improving the environment, greatly reducing urban pollution, and creating jobs in manufacturing as the technology advances. They can also provide a cost-effective and performance-driven rival for advanced batteries.
 
This study analyzes components of the PEM fuel cell, a technology offering the promise of greatly reduced environmental impact and excellent performance, price, and efficiency advantages. Recent historic developments and approaches are described along with recent commercial developments and the state of the art. Hydrogen feed fuel cells are based on the electrochemical reaction between hydrogen and oxygen. This electrochemical process does not pollute the environment with hydrocarbons, particulates or any sulfur or nitrogen oxides. The study identifies the opportunities and technological requirements of the proton exchange membrane fuel cell and the MEA and the bipolar plates for the PEM fuel cell. When several units of the membrane electrode assembly are capped off with a bipolar plate and properly assembled, the arrangement is referred to as a stack.
 
Questions to be answered include determining a timetable for PEM fuel cell commercialization, as well as what types of membranes and membrane assemblies are needed to make this possible.
 
INTENDED AUDIENCE
 
This report is intended to provide a unique analysis of the broadly defined global proton exchange membrane market and will be of interest to a variety of current and potential fuel cell users as well as fuel cell makers and component and membrane makers. This report also can provide valuable information in terms of assessing investment in particular technologies and, therefore, should benefit investors directly or indirectly. The vital importance of platinum as a catalyst for PEM fuel cells is addressed. Anyone interested in the precious metals market, in nanomaterials, or in alternative catalysts will find the evaluations of the technology of interest. 
 
This analysis is designed to be as comprehensive as possible. This document is intended to be value to a broad audience of business, technical, investment, and regulatory professionals. It is an information source for an emerging industry as well as a reference on a developing technology. It presents analysis and forward-thinking evaluations that will be of advantage to manufacturers; material suppliers; and to local, state, and federal government entities. Corporate planners will benefit from the report’s evaluation of the demands for proton exchange membranes, membrane electrode assemblies, and platinum catalyst and the companies involved in their development and manufacture. Others may find the broad discussions of energy policy, environmental impact, platinum supply, and chemical synthesis of membranes to be of considerable value in understanding the opportunities and problems facing the fuel cell industry in the near- to mid-term.
 
SCOPE OF REPORT
 
The fuel cell industry in various forms has been developing for decades. There are notable examples of fuel cell successes. The proton exchange membrane fuel cell is emerging as a winner in many of the primary categories that fuel cells can satisfy. Existing membranes and assemblies still have room for improvement. Proton exchange membrane fuel cell development and commercialization is an ever-changing process. This report examines the market and technology for the materials and technology of proton exchange membranes and electrode assemblies and for bipolar plates for PEMFCs, including direct methanol fuel cells (DMFCs). This includes the gas diffusion layer (GDL), the catalyst ink/electrode, the membrane itself, and the bipolar plate. Ancillary stack assembly materials such as bolts, gaskets, tie-outs, and final assembly and packaging costs are excluded.
 
This report details the actuals for 2006, 2009, and 2010 and compound annual growth rate (CAGR) projections for 2015 for the North American, European, Far Eastern, and rest-of-world markets. Selected 2006 actuals will help as a basis for today’s markets and tomorrow’s projections. When appropriate, consensus, optimistic, and pessimistic scenarios are presented. A patent analysis and discussion for power sources and vehicle components describes where research is performed and emphasizes intellectual property issues.

Highlights of the Report:

•The global market value of components for PEM fuel cell membrane electrode assembly (MEA) as defined by the membrane, the bipolar plates, the gaseous diffusion layers, and the catalyst ink and electrodes, is an estimated $383 million in 2010. This market is expected to grow at a 20.6% compound annual growth rate (CAGR) over the 5-year forecast period to reach $977 million in 2015.

•Of the PEMFC MEA components, membranes have the greatest value, estimated at $200 million in 2010. By 2015, this sector will be worth $424 million, a compound annual growth rate (CAGR) of 16.2%.

•Inks and catalysts have the second largest share but will experience the highest growth rate of the aforementioned components. This sector is valued at $103 million in 2010 and is forecast to increase at a 28% compound annual growth rate (CAGR) to reach $354 million in 2015.

TABLE OF CONTENTS

CHAPTER ONE: INTRODUCTION 
STUDY GOALS AND OBJECTIVES
REASONS FOR DOING THE STUDY 
INTENDED AUDIENCE 
SCOPE OF REPORT 
METHODOLOGY
INFORMATION SOURCES
ANALYST CREDENTIALS 
DISCLAIMER

CHAPTER TWO: SUMMARY
SUMMARY  6
SUMMARY TABLE GLOBAL PEMFC MEA MARKET, THROUGH 2015
($ MILLIONS)  7
SUMMARY FIGURE GLOBAL PEMFC MEA MARKET, THROUGH 2015
($ MILLIONS)  7

CHAPTER THREE: PROTON EXCHANGE MEMBRANE FUEL CELL OVERVIEW 
FUEL CELL TECHNOLOGY . 8
PROTON EXCHANGE MEMBRANE FUEL CELL FUNDAMENTALS  9
PROTON EXCHANGE MEMBRANE … (CONTINUED)  10
FIGURE 1 GENERIC PEMFC DIAGRAM SHOWING COMPONENTS  11
FUEL AND FUEL REFORMING FUNDAMENTALS. 12
Improved Hydrogen Separation  12
Filtering Hydrogen and Oxygen . 13
Georgia Tech Analysis of Fuel Cell Failure Modes  14
Georgia Tech Analysis … (Continued) . 15
THE DIRECT METHANOL FUEL CELL VARIATION  16
The Direct Methanol Fuel Cell Variation (Continued)  17
FIGURE 2 SCHEMATIC DMFC CHEMISTRY . 18
PROTON EXCHANGE MEMBRANE FUEL CELL COMPANIES . 18
TABLE 1 PEMFC AND DMFC MAKERS . 19
PROTON EXCHANGE MEMBRANE FUEL CELL MARKET
DRIVERS . 20
MARKET SEGMENTATION AND INDUSTRY
CONCENTRATION  21
Market Segmentation and … (Continued) . 22
Portable Market Sector Market Drivers and Market
Factors  22
TABLE 2 TYPES OF PORTABLE PRODUCTS . 23
TABLE 3 IMPORTANT PORTABLE PRODUCT CONCEPTS . 24
TABLE 3 (CONTINUED)  25
TABLE 4 PORTABLE FUEL CELL MARKET DRIVERS . 26
TABLE 5 PORTABLE FUEL CELL MARKET FACTORS  27
Stationary Market Sector Market Drivers and Market
Factors  27
Uninterruptible Power Supplies  27
Combined Heat and Power . 28
Utility Load Leveling  28
Utility … (continued) . 29
Stationary Market Drivers . 30
TABLE 6 STATIONARY FUEL CELL MARKET DRIVERS  30
TABLE 7 STATIONARY FUEL CELL MARKET FACTORS  31
Transportation Market Sector Market Drivers and
Market Factors . 31
TABLE 8 TRANSPORTATION FUEL CELL MARKET DRIVERS  32
TABLE 9 TRANSPORTATION FUEL CELL MARKET FACTORS . 32
“Other” Market Sector Market Drivers and Market
Factors  32
Portable Military Products . 33
TABLE 10 SELECTED PORTABLE BATTERY-POWERED MILITARY
PRODUCT ROLES  33
Recreational Vehicles 33
Anti-Idling Power  34
“Other” Market Drivers  35
TABLE 11 “OTHER” FUEL CELL MARKET DRIVERS . 35
TABLE 12 “OTHER” FUEL CELL MARKET FACTORS  35
GLOBAL PEMFC MARKET FORECASTS  36
TABLE 13 GLOBAL PEMFC MARKET BY APPLICATION, THROUGH
2015 ($ MILLIONS) . 36
FIGURE 3 GLOBAL PEMFC MARKET BY APPLICATION, 2010 ($
MILLIONS)  36
TABLE 14 GLOBAL PEMFC MARKET BY REGION, THROUGH 2015 ($
MILLIONS)  37
FIGURE 4 GLOBAL PEMFC MARKET BY REGION, 2010 ($ MILLIONS)  37
Optimistic and Pessimistic Scenarios . 37
Optimistic and Pessimistic … (Continued)  38
Optimistic and Pessimistic … (Continued)  39
TABLE 15 GLOBAL PEMFC MARKET BY APPLICATION, THROUGH
2015 ($ MILLIONS) . 40
TABLE 15 (CONTINUED)  41

CHAPTER FOUR: MEMBRANE ELECTRODE ASSEMBLIES
MEMBRANE ELECTRODE ASSEMBLY BACKGROUND . 42
FIGURE 5 SCHEMATIC SIMPLE MEA  43
PERFORMANCE GOALS FOR MEAS  44
TABLE 16 FUEL CELL MEA PERFORMANCE GOALS  45
MEA FABRICATION AND ASSEMBLY . 45
FIGURE 6 SCHEMATIC FOR CONCEPTUAL MEA CREATION . 46
MEA FABRICATION AND ASSEMBLY (CONTINUED) . 47
MEMBRANE ELECTRODE ASSEMBLY FUNCTIONAL STACK
DESIGNS . 48
ELECTROCHEMISTRY  48
WATER MANAGEMENT  49
ANCILLARY FACTORS  50
MEMBRANE ELECTRODE ASSEMBLY DEVELOPMENT
APPROACHES  51
3M Innovative Properties Co. Approach . 51
DuPont Approach  52
GM Approach . 53
Hoku Scientific Approach  53
PEMEAS/E-Tek Approach  53
Palcan Power Systems Approach  54
ReliOn/Avista Approach  54
Gore Approach . 55
Other Approaches  56
CARBON CORROSION AND GRAPHITES . 56
Carbon Corrosion and Graphites (Continued) . 57
Asbury Graphite Mills Approach  58
Crystal Graphite Approach . 58
Timcal Synthetic Graphite Approach . 58
DIRECT METHANOL FUEL CELL MEA APPROACHES . 58
Gillette Co. . 58
Sony Corp.  59
Los Alamos National Laboratory  59
California Institute of Technology  60
University Of Connecticut . 60
Direct Methanol Fuel Cell Corp. . 60
Direct Methanol … (Continued) . 61
Gore DMFC  62
Maxdem Technologies . 63
Russian Academy of Sciences  63
Ube Industries, Ltd.  63
Sumitomo Metal Approach  64
Oorja Approach  64
Oorja Approach (Continued) . 65
Oorja Approach (Continued) . 66
Panasonic Approach  67
TABLE 17 PANASONIC DMFC SPECIFICATIONS . 68
University of Dayton Approach . 68
Arizona State University . 69
Rice University Approach . 70
Drexel University Approach  71
GLOBAL MEA COMPONENT FOR PEMFCS STRUCTURE AND
FORECAST  72
MEMBRANE ELECTRODE ASSEMBLY INDUSTRY
STRUCTURE  72
TABLE 18 ESTIMATED MEA COMPANY MARKET SHARES, 2010 (%)  73
BIPOLAR PLATE MARKET STRUCTURE . 74
GAS DIFFUSION LAYERS AND CARBON STRUCTURE  74
INK AND CATALYST STRUCTURE . 74
PUTTING IT ALL TOGETHER: MEA MARKET FORECAST . 75
TABLE 19 GLOBAL MEA COMPONENT MARKET, THROUGH 2015 ($
MILLIONS)  75
FIGURE 7 GLOBAL MEA MARKET SHARES, 2010 (%) . 76
TABLE 20 GLOBAL MEA COMPONENT MARKET BY REGION,
THROUGH 2015 ($ MILLIONS) . 77
PROTON EXCHANGE MEMBRANES FOR FUEL CELLS  77
MEMBRANE BACKGROUND  77
Types of Membranes  77
Membrane Processes . 78
Proton Exchange Membrane Fuel Cell Membranes  78
WHAT MAKES A GOOD PEM FUEL CELL MEMBRANE? . 79
PROTON EXCHANGE MEMBRANE FUNCTIONAL FACTORS  79
Proton Exchange Membrane Functional … (Continued) . 80
TABLE 21 MEMBRANE PARAMETER VARIABLES . 81
PROTON EXCHANGE MEMBRANE ELECTROLYTE
COMPATIBILITY FACTORS  81
TABLE 22 PEM ELECTROLYTE ISSUES  82
MEMBRANE TEMPERATURE TOLERANCE FACTORS . 82
High-Temperature Tolerance  82
TABLE 23 ADVANTAGES OF A HIGHER TEMPERATURE
MEMBRANE FOR A PEM FUEL CELL  83
Freezing Temperature Tolerance  83
MEMBRANE WATER TOLERANCE FACTORS . 84
FIGURE 8 WATER TRANSPORT IN A PEM FUEL CELL  85
Protonated Water Clusters . 86
FUEL TOLERANCE FACTORS  86
FUEL CELL MEMBRANE STRUCTURE  87
MEMBRANE FABRICATION AND SYNTHESIS  88
TABLE 24 APPROACHES TO FUEL CELL IONOMER SYNTHESIS  89
TABLE 25 MEMBRANE FABRICATION TECHNIQUE  89
PHASE SEPARATION  90
CASTING SOLVENT . 91
Ethylene Glycol as Solvent  91
IMPACT OF MEMBRANE THICKNESS . 91
MEMBRANE FUNCTIONALIZATION  92
Membrane Pretreatment . 93
MEMBRANE MATERIAL COMPOSITIONS  93
PERFLUORINATED POLYMER MEMBRANES  94
Perfluorocarbonsulfonic Acid Ionomers  95
Nafion PFSA Membranes  96
TABLE 26 FUNDAMENTAL PROPERTIES OF NAFION PFSA
MEMBRANES 97
Gore Select . 98
TABLE 27 CONDUCTANCE COMPARISONS  99
Aciplex  100
Flemion  101
Polytetrafluoroethylene Durability Enhancement . 101
BERKELEY LAB’S MATERIALS SCIENCES DIVISION AND
UC BERKELEY’S DEPARTMENT OF CHEMICAL
ENGINEERING POLYMER MEMBRANE . 102
Berkeley Lab’s Materials Sciences …(Continued) . 103
UNIVERSITY OF ROCHESTER THIN FILTER . 104
POLYFUEL HYDROCARBON MEMBRANE  105
Polyfuel Hydrocarbon Membrane (Continued) . 106
Polyfuel Hydrocarbon Membrane (Continued) . 107
MIT AND THE UNIVERSITY OF PENNSYLVANIA
NANOCOMPOSITE MEMBRANE BARRIERS  108
TORAY INDUSTRIES HYDROCARBON MEMBRANE . 109
AKRON POLYMER SYSTEMS APPROACH . 110
DAYCHEM LABORATORIES APPROACH . 110
JSR MULTILAYERED STRUCTURE  111
BALLARD POWER SYSTEMS BAM MEMBRANES  111
MODIFIED POLYSTYRENE SULFONATED MEMBRANES 112
VICTREX POLYETHER ETHER KETONE (PEEK) . 113
HOKU SCIENTIFICS SEK MEMBRANE  114
UNIVERSITY OF CALGARY  115
TOSOH’S POLY(ARYLENE ETHER SULFONE)  115
SULFONATED POLY(ARYLENE ETHER) SULFONES  115
Sulfonated Poly(Arylene Ether) Sulfones (Continued)  116
TABLE 28 VIRGINIA TECH BPS MEMBRANE PROPERTIES
COMPARED WITH NAFION 117 . 117
Functionalization and Direct Synthesis of Sulfonated
Membranes . 117
Reduced Electro-Osmotic Drag . 118
Conductivity . 119
ARGONNE NATIONAL LAB DENDRITIC SULFONATED
POLYARYL ETHER . 119
DAIS ANALYTIC SULFONATION OF STYRENE
CONTAINING BLOCK COPOLYMERS . 120
Ethylene Styrene Interpolymers . 121
Polystyrene Sulfonic Acid/Polyvinyl Alcohol Blend . 121
Gas Technology Institute Membrane 121
Sulfonated Perfluorocyclobutane  121
HETEROCYCLIC AND POLYBENIMIDIZOLE MEMBRANES  122
PEMEAS and Celtec  122
University of Texas Variations of PBI Membrane . 123
Plug Power and DOE and PBI  123
Renssalaer’s Chain-Transfer (RAFT) Polymerization . 124
Samsung Polyimide Derivative . 124
Other Modifications of PBI 125
SULFONATED POLYIMIDES  126
Tailored Imides  126
POLY(BISBENZOXAZOLE) [PBO] . 127
UNIVERSITY OF MASSACHUSETTS CO-POLYMERS  127
COMPOSITE MEMBRANES  128
Aciplex and Titanias  128
Inorganic-Organic Composite . 129
Modified Siloxane (ORMOSIL) . 130
Organic/Heteropolyacids and Nafion  130
Aniline and Perfluorosulfonic Acid Polymer  131
Random Fibers and Perfluorinated Membranes  131
Ionic Gel Fill  132
Zirconium Phosphonate Fill  132
Oxidation Resistant Carbon Supports  133
NOVEL AND EXPERIMENTAL PEM MATERIALS  133
BASF Polyurethane Elastomer . 134
Georgia Tech Triazole Booster  134
Dow XUS 13204.1  134
Altergy Freedom Power . 135
3M Acid Functional Fluoropolymers Membrane  135
Glass Membranes  136
Microcell Microfiber . 137
Oak Ridge National Lab Metallized Bio-Cellulosics  137
University of Florida Intermediate-Temperature Proton-
Conducting Membranes . 138
MEMBRANE COMPANIES . 139
TABLE 29 COMPANIES PRODUCING ION SELECTIVE MEMBRANES
FOR PEM FUEL CELLS . 140
TABLE 30 ESTIMATED PEMFC FLUOROPOLYMER MEMBRANE
COMPANY MARKET SHARES, 2010 (%) 141
ASAHI GLASS CO., LTD.  141
ASAHI KASEI CHEMICALS CORP.  142
BALLARD POWER SYSTEMS . 143
U.S. Headquarters . 143
U.S. Headquarters (Continued) . 144
DAIS ANALYTIC CORP. . 145
DUPONT FUEL CELLS  145
DuPont Fuel Cells (Continued) . 146
GINER ELECTROCHEMICAL SYSTEMS, LLC . 147
GOLDEN ENERGY FUEL CELL CO., LTD. . 148
GORE FUEL CELL TECHNOLOGIES  148
HOKU SCIENTIFIC, INC.  149
HYDROGENICS CORP.  150
IDATECH, LLC  151
JSR CORP.  152
MAXDEM, INC. (COMBRIDGE DISPLAY) . 152
PLUG POWER . 153
Plug Power (Continued)  154
POLYFUEL  155
RELION  155
TORAY INDUSTRIES, INC. . 156
UNITED TECHNOLOGY CORP. FUEL CELLS . 156
OTHERS . 157
GLOBAL PEMFC MEMBRANE MARKET STRUCTURE AND
FORECAST  158
PEM MEMBRANE MATERIALS MARKET SHARE  158
TABLE 31 PROTON EXCHANGE MEMBRANE MATERIAL BY TYPE,
2010 VERSUS 2015 (%) . 158
PEM MEMBRANE MATERIALS VALUE  158
TABLE 32 GLOBAL PROTON EXCHANGE MEMBRANES FOR
PEMFCS MARKET BY APPLICATION, THROUGH 2015 ($
MILLIONS)  159
TABLE 33 GLOBAL PROTON EXCHANGE MEMBRANES FOR
PEMFCS MARKET BY REGION, THROUGH 2015 ($ MILLIONS) 159

CHAPTER FIVE: MEA, GASEOUS DIFFUSION LAYERS, AND BIPOLAR PLATES 
GASEOUS DIFFUSION LAYERS . 160
GASEOUS DIFFUSION LAYER BACKGROUND  160
ATTRIBUTES OF GAS DIFFUSION LAYERS  161
TABLE 34 ATTRIBUTES NEEDED FOR GAS DIFFUSION LAYER
MATERIALS  162
GAS DIFFUSION LAYER MANUFACTURING  163
TABLE 35 PROS AND CONS OF GDL MANUFACTURING
TECHNIQUES . 163
Developments at GrafTech International . 164
Developments at … (Continued)  165
Developments at Umicore AG . 166
Developments at Ballard Material Products  167
Developments at Johnson Matthey  168
Developments at Lydall, Inc.  168
Developments at Mitsubishi Rayon  169
Developments at SGL Carbon Group . 169
TABLE 36 TYPICAL PROPERTIES OF SIGRACET GAS DIFFUSION
LAYER  170
Developments at Toray/Mitsui  170
Developments at Rensselaer Polytechnic Institute . 171
Developments at Zoltek . 172
Developments at Cabot and IRD Fuel cell . 172
Other Developments  173
BIPOLAR PLATES . 174
BIPOLAR PLATE BACKGROUND  174
BIPOLAR PLATE DESIGNS . 175
TABLE 37 DESIGN CONSIDERATIONS FOR BIPOLAR PLATES  175
TABLE 38 MATERIAL TYPES FOR BIPOLAR PLATES . 176
Corrosion Protection of Metallic Plates  176
Ballard Powers’ Bipolar Metal Plate  176
Surface Modification . 177
Tech-Etch Metal Plates . 177
ECPower/Sorapec Approach  177
Entegris Approach . 178
Generics Porous Plates Approach . 178
T8 Series  179
IdaTech Layered Bipolar Plate Assembly  179
Use of Thermoplastic . 180
Intelligent Energy’s Proprietary Design. 180
Nisshinbo Approach . 181
PEM Plates Approach . 182
Illinois Urbana-Champaign Fuel Cell Separator Plate
Having Controlled Fiber Orientation  182
Plug Power Assembly  183
Porvair Approach . 184
SGL Technologies Approach . 184
TABLE 39 SGL BIPOLAR PLATE TYPICAL PROPERTIES . 185
Bac2 ElectroPhen  185
Improved Gasket Approach . 186
ACAL Platinum-free Cathode . 187
ACAL Platinum-free … (Continued)  188
Federal-Mogul’s Liquid Elastomer Molding . 189
AEG Carbon Fiber-Elastomer Composite Bipolar Plates  189
myFC Polymer Electrolyte Membrane Fuel Cell
FuelCellSticker . 190
DMFC ANODE APPROACHES  191
Toshiba Approach  191
DuPont GEN IV Approach  192
Medis Conductive Polymer Approach . 193
Generics CMR Approach . 194
Energy Ventures Research Approach . 194
PolyFuel Approach  195
Smart Fuel Cell Approach . 195
MEA, GDL, AND BIPOLAR PLATE COMPANIES  196
10X MICROSTRUCTURES . 196
3M . 196
ASBURY GRAPHITE . 197
BALLARD POWER SYSTEMS . 197
DIXON TICONDEROGA CO.  197
DAIMLER . 197
Mitsubishi Fuso . 198
Orion Bus Industries (Daimler Buses North America)  198
Smart GmbH  198
Smart GmbH (Continued) . 199
Smart GmbH (Continued) . 200
DUPONT FUEL CELL  201
ELECTROCHEM, INC. . 202
ENTEGRIS, INC. . 203
GENERAL ELECTRIC  203
GENERAL MOTORS, CORP.  204
GORE FUEL CELL TECHNOLOGIES  205
GRAFTECH INTERNATIONAL, LTD.  206
HOKU SCIENTIFIC, INC.  207
Hoku Scientific, Inc. (Continued)  208
HYDROGENICS CORP.  209
HONDA . 209
Honda U.S. Headquarters . 209
HORIZON FUEL CELLS AND RIVERSIMPLE  210
Horizon Fuel Cells and Riversimple (Continued)  211
ICM PLASTICS  212
JOHNSON MATTHEY FUEL CELLS RESEARCH  212
Johnson Matthey Fuel Cells (USA)  213
LYNNTECH . 213
MANHATTAN SCIENTIFICS, INC. . 214
Research Headquarters . 214
MATERIALS AND ELECTROCHEMICAL RESEARCH CORP.  214
MITSUBISHI RAYON CO., LTD. . 215
MORGAN CRUCIBLE CO.  215
MORPHIC TECHNOLOGIES . 215
NEDSTACK FUEL CELL TECHNOLOGY  216
NISSHINBO INDUSTRIES, INC. . 217
NUVERA FUEL CELLS  217
Nuvera Fuel Cells Europe . 217
PALCAN FUEL CELLS, LTD.  217
PLUG POWER . 218
PORVAIR FUEL CELL TECHNOLOGY  218
PROTONEX TECHNOLOGY CORP.  218
RELION/AVISTA LABS  219
SGL CARBON  219
SGL Technik  220
SHARP CORP.  220
SMART FUEL CELL AG (SFC)  221
Smart Fuel Cell AG (SFC) (Continued)  222
SPECTRACORP . 223
SUMITOMO METALS . 223
SUPERIOR GRAPHITE CO. . 224
TIAX  224
TICONA  225
TIMCAL GRAPHITE & CARBON  225
TORAY INDUSTRIES, INC. . 226
UNIDYM (ARROWHEAD RESEARCH CORP.)  226
UTC POWER  227
ZOLTEK MATERIALS GROUP  227
GLOBAL BIPOLAR PLATES AND GDLS FOR PEMFCS
STRUCTURE FORECAST  227
TABLE 40 GLOBAL PEMFC BIPOLAR PLATE AND CARBON MARKET
BY APPLICATION, THROUGH 2015 ($ MILLIONS) . 228
FIGURE 9 GLOBAL PEMFC BIPOLAR PLATE AND CARBON MARKET
BY APPLICATION, 2006-2015 ($ MILLIONS)  228
FIGURE 10 GLOBAL MARKET SHARES OF PEMFC BIPOLAR PLATE
AND CARBON BY TYPE, 2010 (%)  229
TABLE 41 GLOBAL PEMFC BIPOLAR PLATE AND CARBON MARKET
BY REGION, THROUGH 2015 ($ MILLIONS) . 229

CHAPTER SIX: CATALYSTS AND INKS 
BACKGROUND  230
CATALYST DURABILITY  230
CATALYST PARTICLE SIZE  231
CATALYST COATED MEMBRANES . 231
DuPont Approach  232
PolyFuel Approach  233
Aerogel Composite Approach  233
FIGURE 11 PREPARATION OF CARBON AEROGEL SUPPORTED
PLATINUM  234
GS Carbon Approach . 234
GS Carbon Approach (Continued)  235
Ramot University Approach  236
LOW CATALYST LOADING APPROACHES  236
Ballard Approach . 236
COMBINATORIAL CATALYST TECHNIQUES . 237
INNOVATIVE MATERIALS AND NANOMATERIALS  237
Platinum Alloys . 238
Anode Durability . 239
Nanoparticles . 240
Kyoto University . 240
Hong Kong University of Science and Technology  240
Los Alamos National Laboratory and Brookhaven
National Laboratory  240
Brown University  241
Brookhaven National Laboratory  242
University of Central Florida . 243
Cornell University  244
Georgia Tech and Xiamen University  245
Georgia Tech … (Continued) . 246
MIT Researchers Take First Atomic-Scale
Compositional Images of Fuel Cell
Nanoparticles . 247
Nanofibers  248
Nanofibers (Continued)  249
Nanolevel Platinum/Carbon Electrocatalyst for Cathode  250
University of Wisconsin-Madison Nanoparticle Catalyst  250
University of Houston Lattice-Strained Core-Shell
Nanoparticle Catalyst  251
Acta Base Metal Cathode Catalyst . 252
Lawrence Berkeley and Argonne National Laboratories
Alloy  253
Lawrence Berkeley …(Continued) . 254
Lawrence Berkeley …(Continued) . 255
Lawrence Berkeley …(Continued) . 256
Nanowires  257
University of Rochester Sizing Nanowires  257
Jet Propulsion Laboratory Nanophase Nickel-Zirconium
Alloy Approach . 258
University of Texas at Austin Palladium-Based Alloy
Catalysts . 259
TIAX, LLC Nanostructured Thin Film Catalysts  260
TIAX, LLC … (Continued)  261
FIGURE 12 PROJECTED COST AT HIGH VOLUME
MANUFACTURING (%)  262
TABLE 42 PERFORMANCE AND COST SUMMARY  263
SDK High-Efficiency Catalysts Platinum Substitute for
PEFCs . 264
Washington University in St. Louis Bimetallic Fuel Cell
Catalyst . 265
Simple Tech Heterogeneous Catalysis Technology  266
Brown University Platinum Nanocubes . 267
Johnson Matthey Fuel Cells, Ltd. and the NECLASS
Project . 268
University of Rochester “Black Metal” Approach  268
Transition Metal Nanosized Catalysts . 269
Texas Tech University Platinum Nanodots . 270
CATALYST INK COMPOSITIONS . 270
APPLIED RESEARCH & DEVELOPMENT ISRAEL
FORMULATION . 271
OTHER CATALYST INK FORMULATIONS . 271
SW Research and Gore Approach . 271
UTC Fuel Cells Approach  272
Jet Propulsion Laboratory Approach  272
Angstron Materials Graphene  272
Northwestern University and the McCormick School of
Engineering and Applied Science Graphene Films  273
Samsung Electronics Approach  274
CARBON COMPOSITE ELECTROCATALYST POWDERS . 274
CABOT APPROACH  275
ASYMTEK JET DISPENSING APPROACH  276
CATALYST AND INK COMPANIES  277
ACTA SPA  277
ALFA AESAR-JOHNSON MATTHEY CO.  277
Johnson Matthey Co. . 278
ANGLO PLATINUM  279
AQUARIUS PLATINUM PTY, LTD.  280
BASF CORP. . 280
BASF Corp. (Continued)  281
BASF Corp. (Continued)  282
IMPALA PLATINUM HOLDING, LTD. (IMPLATS) . 283
Impala Platinum Holding (U.K.)  283
LONMIN PLATINUM, PLC  283
Lonmin South Africa . 284
NORILSK NICKEL  284
Stillwater Mining. 284
OM GROUP, INC.  285
QUANTUMSPHERE, INC.  286
STILLWATER  287
TANAKA PRECIOUS METALS  287
GLOBAL PEMFCS CATALYST AND INK STRUCTURE AND
FORECAST  287
PLATINUM MARKETS AND CONSUMPTION  288
TABLE 43 WORLD MINE PRODUCTION AND RESERVES: MINE
PRODUCTION PGMS (KG)  289
TABLE 44 WORLD PLATINUM DEMAND (THOUSAND OZS)  289
PALLADIUM MARKETS AND CONSUMPTION . 290
Palladium Markets and Consumption (Continued) . 291
CATALYST AND INK VALUE  292
TABLE 45 GLOBAL PEMFC CATALYST AND INK MARKET,
THROUGH 2015 ($ MILLIONS)  292
FIGURE 13 GLOBAL PEMFC CATALYST AND INK MARKET,
THROUGH 2015 ($ MILLIONS) . 293
TABLE 46 GLOBAL PEMFC CATALYST AND INK MARKET BY
REGION, THROUGH 2015 ($ MILLIONS)  293

CHAPTER SEVEN: INDUSTRY STRUCTURE AND COMPETITIVE ASPECTS 
INDUSTRY ENVIRONMENT AND TRADE PRACTICES  294
ENVIRONMENTAL ISSUES  295
Environmental Issues (Continued) . 296
PEMFC REGULATORY ISSUES AND GOVERNMENT
INVOLVEMENT . 297
U.S. DOE Direct PEM Fuel Cell Funding  297
Topic 1 Alternative Electrode Deposition Processes . 297
Topic 2 Novel MEA Manufacturing . 297
Topic 3 Rapid MEA Conditioning . 298
Topic 4 Process Modeling for Fuel Cell Stacks  298
Topic 5 Process and Device for Cost Effective
Testing of Cell Stacks  299
Topic 6 Manufacturing Technologies for Reducing
the Cost of High-Pressure Composite
Conformable Tanks . 299
U.S. Federal Fuel Cell Vehicle Funding . 300
U.S. Federal … (Continued) . 301
U.S. Federal … (Continued) . 302
U.S. Federal … (Continued) . 303
Overall U.S. Federal Fuel Cell Funding . 304
TABLE 47 2010 BUDGET HYDROGEN AND FUEL CELL
TECHNOLOGIES FUNDING PROFILE BY SUBPROGRAM ($
THOUSANDS) . 304
TABLE 47 (CONTINUED)  305
Overall U.S. Federal … (Continued)  306
U.S. Fuel Cell Council Analysis of Funding Priorities  307
U.S. Fuel Cell … (Continued) . 308
Office of Science . 309
National Hydrogen Association  310
National Science Foundation  310
Department of Defense  311
Army Research Laboratory  311
USAF Research Laboratory  311
Naval Research Laboratory  312
National Aeronautics and Space Administration (NASA) . 312
Jet Propulsion Laboratory  312
Global Incentives and Research Efforts . 313
ACADEMIC INSTITUTIONS’ INVOLVEMENT IN FUEL CELL
DEVELOPMENT  314
TABLE 48 MAJOR INSTITUTIONAL RESEARCH INTO PEM FUEL
CELLS  314
MEA DISTRIBUTION CHANNELS  315
INDUSTRY PURCHASING INFLUENCES AND PRICES . 315
INDUSTRY PURCHASING INFLUENCES … (CONTINUED) . 316
INDUSTRY PURCHASING INFLUENCES … (CONTINUED) . 317
TABLE 49 HISTORIC PLATINUM PRICES (DOLLARS PER TR OZ) . 318
TABLE 50 HISTORIC PALLADIUM PRICES (DOLLARS PER TR OZ) . 318
LIFE-CYCLE COSTS . 319