Worldwide Market Reports added Latest Research Report titled “Regenerative Fuel Cell Technology Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026”.
Regenerative fuel cell (RFC) systems produce power and electrolytically regenerate their reactants using stacks of electrochemical cells. Such type of energy storage systems with extremely high specific energy (>400 Wh/kg) have been designed that use lightweight pressure vessels to contain the gases generated by reversible regenerative fuel cells (URFCs). When a fuel cell is operated in reverse, the anode becomes the cathode and the cathode becomes the anode. Supplying a current and reversing the polarities of the electrodes in the hydrogen fuel cell results in a regenerative hydrogen fuel cell. The anode oxidizes water decomposing it into oxygen gas O2, hydrogen ions and electrons. The cathode reduces hydrogen and electrons into hydrogen gas.
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Increasing adoption of RFC by various end-use industries due to its wide applications is a major factor fueling growth of the regenerative fuel cell technology market. RFC has various applications such as it can store energy for remote off-grid power sources, emergency or backup power generation, emergency or backup power generation, high-altitude, long-endurance solar rechargeable aircraft, and hybrid energy storage/propulsion systems for spacecraft. However high cost of operation and maintenance is the major factor restraining growth of the regenerative fuel cell technology market.
Key Developments of Regenerative Fuel Cell Technology Market
In April 2016, MGX Minerals Inc. announced its wholly owned subsidiary ZincNyx Energy Solutions Inc. has developed new methods to expand the capacity of its zinc-air fuel cell battery as part of the mass production design phase. ZincNyx developed a patented regenerative zinc-air flow battery that efficiently stores energy in the form of zinc particles. It does not involve use of conventional high cost battery commodities such as lithium, vanadium or cobalt. The technology allows for low-cost mass storage of energy and can be deployed into a wide range of applications. Furthermore, various automobile manufacturers are focused on developing vehicles using hydrogen fuel cell technology to reduce carbon from the transportation side. For instance, in 2018, Toyota introduced Toyota Mirai for a new version of the Prius. The new fuel-cell vehicle burns hydrogen, which mixes with oxygen in the air to generate electricity that powers the motor while also creating heat and water as byproduct. Such major developments by manufacturer are expected to propel growth of the regenerative fuel cell technology market in near future.
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