Hyperdrive

After 40-Year Losing Streak, Fuel-Cell Maker Shares Are Soaring

  • Canada’s Ballard yet to post profit but investors are buying
  • Hydrogen’s appeal broadens as costs plummet, emissions tighten
Ballard-powered buses in China.
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Canadian hydrogen fuel-cell pioneer Ballard Power Systems Inc. has hung on for four decades without posting a profit, waging a battle far head of its time against the combustion engine.

It says its moment may finally be arriving.