M2 PRESSWIRE-31 October 2006-RNCOS: Fuel Cell Market: Powered by Research & Development(C)1994-2006 M2 COMMUNICATIONS LTD

RDATE:31102006

R&D is the focal point of scientific developments and rapid commercialization of fuel cell vehicle technology, aimed at emerging as a viable powering source.

The Year 2005 saw steady increase in investments in research and development related to fuel cell vehicle technology, with U.S companies contributing major chunks of investments. Worldwide spending on fuel cell R&D activities in 2003 and 2004 stood at $659 Mn and $716 Mn respectively, an increase of 9 over the previous year.

The fuel cell market is expected to exceed $19 ...