SOURCE: The Bedford Report

The Bedford Report

May 13, 2011 08:16 ET

Revenues Surge for Fuel Cell Companies as Gas Prices Continue Uptrend

The Bedford Report Provides Analyst Research on FuelCell Energy & Plug Power

NEW YORK, NY--(Marketwire - May 13, 2011) - As surging oil prices begin to dampen the strength of the global economic recovery, investors are hopeful that the fuel cell sector will get a boost from a stronger push for alternative sources of energy. Fuel cells can be used for vehicles, heating and cooling systems and backup power for cell phone towers. The Bedford Report examines the outlook for companies in the Industrial Electrical Equipment Industry and provides research reports on FuelCell Energy, Inc. (NASDAQ: FCEL) and Plug Power, Inc. (NASDAQ: PLUG). Access to the full company reports can be found at:

Fuel cells convert the stored energy in fuels like natural gas or hydrogen gas into electricity without combustion. They are somewhat similar to batteries, although fuel must be fed continuously to them. Fuel cells can operate on a variety of fuels, including natural gas and renewable fuels such as landfill gas.

Ford and Toyota have both stressed the importance of breaking the dependence on foreign oil and project that they could be mass producing the fuel cell cars by 2015. Executives at Toyota say the company aims to slash the cost of hydrogen fuel cell technology before it starts selling its fuel cell sedan. Shinzo Kobuki, senior managing director in charge of Toyota's battery technology says the goal is to bring the cost of the fuel stack and high-pressure hydrogen tank to one-twentieth of 2008 levels.

The Bedford Report releases regular market updates on the Industrial Electrical Equipment Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

FuelCell Energy recently said its fiscal first-quarter loss narrowed on strong product sales, resulting in better-than-expected revenue growth. The company makes fuel cells for electric power generation for commercial, industrial, municipal and utility customers and reported a loss of $11.7 million, or 10 cents a share, compared with a year-earlier loss of $15.4 million, or 18 cents a share.

Plug Power, meanwhile, saw its most successful quarter in the company's history during the first quarter of 2011, primarily based on the number of commercial orders it received. Total revenue for the first quarter was $6.0 million. This compares to total revenue of $4.4 million in the first quarter of 2010.

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