"Two public companies commercializing SOFCs are Ceres Power...

"Two public companies commercializing SOFCs are Ceres Power (LSE:CWR) and Ceramic Fuel Cells (ASX:CFU and LSE:CFU). Ceramic Fuel Cells markets small scale SOFC based combined heat and power units to commercial customers in Europe. Its fuel cells have industry leading electrical efficiency of up to 60%, and the overall efficiency of the CHP units is naturally much higher. Ceres Power has developed a lower temperature SOFC which operates at 500 – 600°C, allowing the use of stainless steel components which increase durability and allow for quicker start times than other SOFCs. Ceres is currently targeting South Korean and Japanese markets where it hopes to sell its CHP units to replace residential boilers to produce both heat and majority of a home’s electricity.

Conclusion

None of these companies is yet profitable, and their products are not yet cost effective except in niche markets or with significant subsidies. That said, several have strong financial backers and have been growing revenues significantly over the last couple years.

Events such as Hurricane Sandy and Japan’s Fukushima nuclear disaster have increased public interest in the resilience of the electric grid. With its small scale and low emissions, fuel cell technology is well suited to increasing local resilience with distributed installations. Fuel cells’ high efficiency can also make them economical in countries dependent on expensive imported liquefied natural gas.

If these trends persist, or if fuel cell vehicles become more than a way for automakers to comply with environmental standards, some of these companies are likely to become profitable in just a few more years. I personally would not bet on hydrogen outside of niche markets, but I think distributed combined heat and power with carbonate and solid oxide fuel cells has real potential."

http://www.forbes.com/sites/tomkonrad/2013/12/11/twelve-hydrogen-and-fuel-cell-stocks/2/