Foresight Canada has released a new report mapping the country’s hydrogen technology ecosystem, identifying 92 companies active across the value chain and highlighting regional strengths and growth opportunities.
The study, Ventures to Value Chains (V2VC): Hydrogen Technology, is part of Foresight’s ongoing initiative to analyze strategically important clean economy sectors. Drawing on data from technology companies and industry stakeholders, the report charts Canada’s role in hydrogen as global markets accelerate toward clean energy.
Hydrogen is increasingly recognized as a key complement to electrification in Canada’s decarbonization toolkit, especially in applications where direct electrification is difficult. With abundant natural resources, a skilled workforce, and a clean electricity grid, Canada is well-positioned to play a central role in emerging hydrogen supply chains.
Canada also has a strong foundation to build on, with decades of innovation and leadership in hydrogen technology. Vancouver-based Ballard Power Systems has long been a global pioneer in fuel cell technology.
Yet the sector faces major hurdles. High production costs, limited demand, and insufficient distribution infrastructure continue to stall growth, creating a “chicken-and-egg” dilemma: producers hesitate to expand supply without guaranteed demand, while potential users remain cautious without a reliable supply network.
Foresight says coordinated public and private action is needed to break this cycle. Mapping the ecosystem is a foundational step, providing decision-makers with a clear overview of companies, technologies, and opportunities. By recognizing viable use cases, developing effective policies, and fostering partnerships, Canada can accelerate progress toward a hydrogen economy.
“This edition of our Ventures to Value Chains initiative aims to provide insights on Canada’s hydrogen technology companies,” Foresight noted in the announcement, “highlighting areas where we can leverage strengths, pursue growth, and build a Canadian hydrogen economy.”
The full report is available for download through Foresight’s website.