Ballard Power Systems
Listed · Nasdaq · BLDPNot ranked by UbackUback segment Energy & climate › Generation › Hydrogen
Canadian maker of PEM fuel cell modules for buses, trucks, rail and ships.
Market value on the ranking date
Market capUSD 560M · Oct 2026
ListingNasdaq · BLDP
CountryCanada
Published figures
Ballard Power Systems and its private challengers · Hydrogen
Non-listed hydrogen companies ranked by Uback, with Ballard Power Systems and the other listed pure players shown in grey at their market value on the ranking date (17 Oct 2026). Listed companies are never ranked.
| # | Company | Valuation | |
|---|---|---|---|
| — | Bloom EnergyUnited States · Listed · NYSE · BE | USD 65bnMarket cap · Oct 2026 | |
| 1 | Electric HydrogenUnited States | ≈ USD 2bnUnicorn · AI estimate | Back |
| — | Plug PowerUnited States · Listed · Nasdaq · PLUG | USD 1.9bnMarket cap · Oct 2026 | |
| — | Doosan Fuel CellSouth Korea · Listed · KRX · 336260 | USD 1.7bnMarket cap · Oct 2026 | |
| 2 | KolomaUnited States | ≈ USD 1.5bnUnicorn · AI estimate | Back |
| 3 | OhmiumUnited States | ≈ USD 1.3bnUnicorn · AI estimate | Back |
| 4 | SunfireGermany | ≈ USD 1.2bnUnicorn · AI estimate | Back |
| — | FuelCell EnergyUnited States · Listed · Nasdaq · FCEL | USD 1bnMarket cap · Oct 2026 | |
| — | Ceres PowerUnited Kingdom · Listed · LSE · CWR | USD 880MMarket cap · Oct 2026 | |
| — | ITM PowerUnited Kingdom · Listed · LSE AIM · ITM | USD 860MMarket cap · Oct 2026 | |
| — | SinoHytecChina · Listed · SSE STAR · 688339 / HKEX · 2402 | USD 580MMarket cap · Oct 2026 | |
| 5 | HysataAustralia | ≈ USD 570MHundreds of M$ · AI estimate | Back |
| — | Ballard Power SystemsCanada · Listed · Nasdaq · BLDP | USD 560MMarket cap · Oct 2026 | |
| 6 | HygencoIndia | ≈ USD 540MHundreds of M$ · AI estimate | Back |
| 7 | Utility GlobalUnited States | ≈ USD 520MHundreds of M$ · AI estimate | Back |
| — | NelNorway · Listed · Oslo Børs · NEL | USD 400MMarket cap · Oct 2026 | |
| 8 | VerdagyUnited States | ≈ USD 380MHundreds of M$ · AI estimate | Back |
| 9 | InfiniumUnited States | ≈ USD 360MHundreds of M$ · AI estimate | Back |
| 10 | Air CompanyUnited States | ≈ USD 360MHundreds of M$ · AI estimate | Back |
| 11 | AmogyUnited States | ≈ USD 290MHundreds of M$ · AI estimate | Back |
| 12 | Hy2genGermany | ≈ USD 270MHundreds of M$ · AI estimate | Back |
| 13 | H2SITESpain | ≈ USD 210MHundreds of M$ · AI estimate | Back |
| 14 | HystarNorway | ≈ USD 190MHundreds of M$ · AI estimate | Back |
| 15 | Mantle8France | ≈ USD 180MHundreds of M$ · AI estimate | Back |
| 16 | IonomrCanada | ≈ USD 100MHundreds of M$ · AI estimate | Back |
| 17 | HydrogeniousGermany | ≈ USD 91MTens of M$ · AI estimate | Back |
| 18 | Stargate HydrogenEstonia | ≈ USD 61MTens of M$ · AI estimate | Back |
| 19 | EnduaAustralia | ≈ USD 39MTens of M$ · AI estimate | Back |
| 20 | NewtraceIndia | ≈ USD 33MTens of M$ · AI estimate | Back |
| 21 | Jupiter IonicsAustralia | ≈ USD 30MTens of M$ · AI estimate | Back |
Figures as published by the company and market data, at the date shown.
Uback is a content publisher. It ranks non-listed companies only and gives no opinion on listed companies: the figures above are facts as published, at the date shown, never a recommendation. No intention can be declared on a listed company. Method