The current benchmark technology for electric materials handling vehicles uses lead-acid batteries as power source that cause productivity, space and safety issues. This paper evaluates, from a technical and economical point of view, the feasibility of using hydrogen fueled PEMFC as an alternative power source for the forklift drivetrain. The reduction in idle time thanks to lower refueling time and constant power generation have been acknowledged to impact the productivity related costs in such way that the fuel cell option shows better financial results for medium to big fleets, operating three working shifts per day, and using market hydrogen or onsite natural gas reforming. Net present values over 450,000 $ and internal rates of return over 30% for several scenarios bear witness to it. However, a complementary sensitivity analysis has shown important variations in the results that suggest case-by-case analysis before considering the investment. Copyright (C) 2012, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.