Fuel cell manufacturers in North America are optimistic that, despite mixed financial results, the future is looking more stable for the commercialisation of the automotive technology.

The accounting firm PricewaterhouseCoopers and the Canadian government conducted a survey of 112 hydrogen and fuel cell developers in the region and concluded that overall revenue was up 40 per cent while research and development costs have remained stable.

The surveyed companies reaped C$188 million in 2003, with Ballard Power Systems leading the field.

“Over the past year, the Canadian hydrogen and fuel cell sector has achieved a new level of performance,” said the PwC 'Sector Profile'.

“Domestic support for the sector is growing,” it added.

“Government, industry and academia understand that Canada's leadership position can not be taken for granted.

The number of companies in the field has doubled in Canada in the last five years, echoing the global trend of the nascent fuel cell industry, which is beginning to establish itself worldwide.