A secret ingredient is fueling innovation in the forklift industry – hydrogen! Actually, hydrogen fuel cell technology is becoming less of a secret every day as more companies invest in this clean, sustainable fuel source that is generated using the single most abundant element in the universe.
Yes, hydrogen fuel helped America put a man on the moon. Now it is rapidly changing the conversation about fuel options in the forklift industry, with many major players betting on hydrogen fuel to rapidly expand its currently very small share of the market.
In 2014, Walmart announced the purchase of 1,738 hydrogen-powered units for an estimated $50 million, adding to 535 hydrogen fuel cell lift trucks already in its fleet. The mega-retailer cited cost effectiveness to justify the investment. But such corporations increasingly see the benefit of establishing a greener footprint – both to project a more appealing profile to socially conscious consumers and because it can be good for the bottom line.