What are Hydrogen Stocks?
Hydrogen stocks are companies focusing on the production of hydrogen fuel cells. These companies primarily include those that produce hydrogen fuel cells, although many also sell hydrogen gas and alternative energy production equipment.
Hydrogen is the most abundant element on earth. But it does not exist as a gas. Therefore, it needs to be separated from other elements. Hydrogen can be produced from multiple which are: fossil fuels, nuclear energy, biomass, and renewable energy sources. And there are multiple processes via which this can be done. Investors always choose the best brokers that better suits his/her trading goals.
The global hydrogen market size was USD 145.67 billion in 2020. As per Fortune Insights, the global hydrogen generation market is projected to grow from $150.20 billion in 2021 to $220.37 billion in 2028 at a CAGR of 5.6% in the forecast period.
Types of Hydrogen
- Grey hydrogen is the most common form and is generated from natural gas, or methane, through a process called “steam reforming”.
- When the carbon generated from steam reforming is captured and stored underground through industrial carbon capture and storage (CSS) is referred to as Blue Hydrogen.
- When water is split into two hydrogen atoms and one oxygen atom through a process called electrolysis, the outcome is Green Hydrogen. Green hydrogen is also referred to as clean hydrogen because it is used by using clean energy from surplus renewable energy sources, such as solar or wind power
The number of companies exploring the hydrogen sector is growing. Stock trading advisory websites help investors make the right financial decisions. Many energy and industrial companies are in the early stages of exploring the possibility of hydrogen energy. And many companies have established themselves well in the sector and are emerging as market leaders.
List of the Best Hydrogen Stocks
Let’s look at some of the best hydrogen stocks worth investing in 2023:
|Sr.||Company Name||Symbol||Market Capitalization||Price as of 24th June 2022|
|1||Linde||LIN||$ 152.4 billion||$ 303.23|
|2||Air Products||APD||$ 55.9 billion||$ 252.08|
|3||Cummins||CMI||$ 27.5 billion||$ 195.02|
|4||Plug Power||PLUG||$ 10.75 billion||$ 18.23|
|5||Bloom Energy Corp.||BE||$ 3.03 billion||$ 18.08|
|6||Nikola||NKLA||$ 2.363 billion||$ 5.61|
|7||Ballard Power Systems||BLDP||$ 2.045 billion||$ 6.86|
|8||Powerhouse Energy Group||PHE||GBP 64.3 million||GBP 0.0162|
|9||Fusion Fuel Green PLC||HTOO||$ 55.7 million||$ 4.15|
|10||Westport Fuel Systems Inc.||WPRT||$ 164 million||$ 0.9573|
|11||DuPont de Nemours Inc||DD||$ 36.7 billion||$ 73.97|
|12||Dow Inc.||DOW||$ 40.4 billion||$ 57.44|
Linde is a leading global industrial gases and engineering company. The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals, and mining. Investing in fintech stocks is a smart investment move today.
Linde is a global leader in the production, processing, storage, and distribution of hydrogen. It has the largest liquid hydrogen capacity and distribution system in the world. The company also operates the world’s first high-purity hydrogen storage cavern, coupled with an unrivaled pipeline network of approximately 1,000 kilometers to supply its customers reliably. Linde is at the forefront of the transition to clean hydrogen and has installed close to 200 hydrogen fueling stations and 80 hydrogen electrolysis plants worldwide. The company offers the latest electrolysis technology through its joint venture ITM Linde Electrolysis GmbH.
Linde reported its quarterly report for the year 2022:
- Sales were reported at $ 8.2 billion, a 13 % increase from the prior year
- Operating profit was reported at $ $ 5.1 billion
- Earnings per share were reported to be $ 2.3, as compared to earnings per share of $ 2.93 the previous year
Linde has a market capitalization of $ 149 billion. The share of the company is currently trading at $ 297.59. The stock of Linde has been on bullish runs for the last two years. In 2021, the stock went from $ 263.51. to $ 346.43, representing a 31 % increase during the year. In 2022, the stock has declined by 14.2 % to date.
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Air Products is a world-leading industrial gases company in operation for over 80 years. Air Products develops, engineers, builds, owns, and operates some of the world’s largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels, and chemicals. Oil stocks are one of the riskier yet most profit-generating sectors.
Air Products has announced the following updates:
- A $ 2 billion hydrogen, pipeline, and Sustainable Aviation Fuel expansion project at World Energy’s production and distribution hub in Paramount, California
- A $ 1.3 billion of on-site awards demonstrating continued leadership in serving the growing semiconductor industry
- A new facility to produce green liquid hydrogen in Casa Grande, Arizona to serve the hydrogen for mobility market in California and other locations requiring zero-carbon hydrogen
Air Products reported fiscal 2022 second-quarter results:
- Sales of $ 2.9 billion, a 17 % increase from the previous year’s same period
- Net income of $ 537 million, a 13 % increase from the previous year’s same period
- Earnings per share of $2.38, a 12 % increase from the previous year’s same period
Air Products has a market capitalization of $ 55 billion. The share of the company is trading at $ 246.18. The stock of Air Products has been extremely volatile in the past two years. In 2021, the stock started at $ 285.74, rose to $ 310, and closed the year at $ 304.26.
In 2022, the stock started at $ 304, dropped to $ 219.38, and is currently trading at $ 246.
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Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through the following segments:
- Engine – The Engine segment manufactures and markets diesel and natural gas-powered engines
- Distribution – The Distribution segment consists of parts, engines, power generation, and service, which service and distributes its products and services
- Components – The Components segment supplies products such as after-treatment systems, turbochargers, transmissions, filtration products, electronics, and fuel systems for commercial diesel and natural gas applications
- Power Systems – The Power Systems segment engages in power generation, and industrial and generator technologies.
- New Power – The New Power segment designs, manufactures, sells, and supports electrified power systems with components and subsystems, including battery, fuel cell, and hydrogen production technologies
Cummins reported first-quarter results for the fiscal year 2022:
- Revenue was reported at $ 6.4 billion, a 5 % increase from the previous year’s first quarter
- Net Income was reported at $ 418 million,
- Earnings per share were recorded at $ 2.92,
Cummins has a market capitalization of $ 27.6 billion. The share of the company is currently trading at a price of $ 195.38. The stock of Cummins started the year 2021 at $ 227.1 It peaked at $ 273.92 in March ’21 and started its downward journey. By the end of the year, the stock closed at $ 218.14. In 2022, the stock continued its bearish journey and has declined by 10.5 % to date.
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Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.
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Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the Company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.
Plug Power Inc. announced its 2022 first-quarter results:
- Net Revenue was reported at $ 109 million, more than a 100 % increase from the previous year’s same period
- Net Loss was reported to be $ 156.5 million
- Net Loss was reported at $ 0.27
Plug Power has a market capitalization of $ 10.7 billion. The share of the company is trading at $ 18.1. The stock of Plug Power started off in the year 2021 at $ 33.91. It peaked at $ 66.8 in January’21 and started its downward journey. By the end of the year, the stock closed at $ 28.23. In 2022, the stock continued its bearish journey and has declined by 36 % to date.
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Bloom Energy Corp.
Bloom Energy is a company that designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. It develops Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company serves a range of industries, including banking and financial services, cloud services, technology and data centers, communications and media, consumer packaged goods and consumables, education, government, healthcare, hospitality, logistics, manufacturing, real estate, retail, and utilities. Cybersecurity stocks are also one of the best investment opportunities.
Bloom Energy recorded the first-quarter report for the year 2022:
- Revenue was reported at $ 201 million, an increase of 3.6 % from the previous year’s same period
- Net Loss was reported at $ 78 million, an increase of 3.6 % from the previous year’s same period
- Earnings per share were reported at a negative $ 0.44
Bloom Energy has a market capitalization of $ 3.1 billion. The share of the company is trading at $ 18.25. The stock of Plug Power started off in the year 2021 at $ 28.66. It peaked at $ 42.36 in January’21 and started its downward journey. By the end of the year, the stock closed at $ 21.93. In 2022, the stock continued its volatile behavior and has declined by 17 % to date.
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Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Get to know about RSI trading strategies.
Nikola Corporation Reports First Quarter 2022 Results:
- Net Loss was reported at $ 153 million
- Net Loss per share was reported to be negative 0.37
Nikola has a market capitalization of $ 2.27 billion. The share of the company is trading at $ 5.39. The stock has been on a bearish trend for the past two years. In 2021, the stock went from $ 15.26 to $ 9.87, representing a 35 % decline during the year.
In 2022, the stock has declined by 45 % to date.
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Ballard Power Systems
Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power. With the demand for AI technology increasing, investor interest in Artificial Intelligence stocks has also increased.
Ballard Power also provides technology solutions, including engineering and technology transfer, as well as licenses and sells intellectual property portfolio and fundamental knowledge for various PEM fuel cell applications; and hydrogen fuel cell powertrain and vehicle systems integration solutions. It operates in many countries including China, Germany, the United States, the United Kingdom, Canada, Denmark, Norway, Belgium, Japan, France, Spain, Taiwan, Poland, India, Ukraine, and Sweden.
Ballard Power reported the first-quarter report for the year 2022:
- Revenue was reported at $ 21 million, an increase of 21 % from the previous year’s same period
- Net Loss was reported at $ 40.4 million
Ballard Power has a market capitalization of $ 2 billion. The share of the company is trading at $ 6.74. The stock of Ballard Power started off in the year 2021 at $ 23.4. It peaked at $ 38.68 in January’21 and started its downward journey. By the end of the year, the stock closed at $ 12.56. In 2022, the stock continued its bearish trend and has declined by 56 % to date.
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Powerhouse Energy Group
Powerhouse Energy is the creator, designer, and developer of sustainable technology to transform plastics and waste into clean energy. Also read Forex trading vs Stocks trading.
Powerhouse Energy’s technology produces hydrogen from non-recyclable plastic Construction of its first commercial-scale plant started in 2021. In August 2021, as per the company’s announcement, an agreement was signed with Hydrogen Utopia for the use of its technology in Poland, Greece, and Hungary. Powerhouse Energy Group also has an agreement with Peel NRE to establish 11 waste-to-hydrogen plants across the UK over the next few years, with the option of exclusive rights for 70 facilities in total.
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Powerhouse has a market capitalization of GBP 67.5 million. The share is trading at a price of 0.01708 p. The share peaked at 0.098 p on the last trading day of 2020. Since then, the share has been on a bearish journey. The stock started the year 2021 at this peak price and closed the year at 0.044 p. This represents a 55 % decline within one year. In 2022, the stock has gone from 0.044 p to 0.0178 p, to date. This represents a 60 % decline in less than six months.
Fusion Fuel Green PLC (NASDAQ: HTOO)
Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen solutions. Fusion has created a modular, integrated solar-to-hydrogen generator, powered by a proprietary miniaturized PEM electrolyzer, that enables off-grid production of green hydrogen. Fusion Fuel’s business lines include the sale of electrolyzer technology to customers interested in building their own green hydrogen production, the development of turnkey hydrogen plants to be owned and operated by Fusion Fuel, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements.
The Company’s projects include H2EVORA, GreenGas, HEVO-SUL, HEVO-SUL, SINES GH2 Solar, Exolum, and HEVO Ammonia Morocco. GreenGas project consists of 40 HEVO-Solar generators, which produce approximately 45 tons of green hydrogen per year.
Fusion Fuel Green PLC, an emerging leader in the green hydrogen sector, announced financial results for the third quarter that ended September 30, 2022:
- Operating loss was reported at (€ 5.5) million
- Net loss was reported at (€ 1.6) million
Fusion Fuel Green has a market cap of $ 55.7 million. Its shares are trading at $ 4.15.
The stock started the year 2021 at $ 18.43. After peaking at $ 23.86, the stock started to decline. The stock closed the year at $ 8.28 representing a 55 % decline during the year.
In 2022, the stock experienced multiple ups and downs. The stock peaked at $ 10.6 and went as low as $ 3.08 during the year. Eventually, the stock closed at $ 4.43 representing a 46 % decline during the year.
Westport Fuel Systems Inc. (NASDAQ: WPRT)
Westport Fuel Systems is driving innovation to power a cleaner tomorrow. The company is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Westport Fuel Systems’ technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, the company serves customers in more than 70 countries with leading global transportation brands.
Westport Fuel Systems Inc reported financial results for the third quarter that ended September 30, 2021:
- Total revenue was reported at $ 74.3 million as compared to $ 65.4 million in the previous year’s same period
- Net Loss was reported at ($ 5.8) million as compared to a net profit of $ 0.8 million in the previous year’s same period
Westport Fuel Systems has a market cap of $ 164 million. Its shares are trading at $ 0.9573.
The stock started the year 2021 at $ 5.33. After peaking at $ 11.93, the stock reversed its course and started to decline. The stock closed the year at $ 2.37 representing a 55.5 % decline during the year.
In 2022, the stock continued its downward fall and closed the year at $ 0.77. Overall the stock declined by 67.5 %.
DuPont de Nemours Inc. (NYSE:DD)
DuPont is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. The company provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa.
It operates through three segments:
- Electronics & Industrial – The Electronics & Industrial segment supplies materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing the front-end and back-end of the manufacturing process. This segment also provides semiconductor and advanced packaging materials; dielectric and metallization solutions for chip packaging; silicones for light emitting diode packaging and semiconductor applications; permanent and process chemistries for the fabrication of printed circuit boards to include laminates and substrates, electroless, and electrolytic metallization solutions, as well as patterning solutions, and materials and metallization processes for the metal finishing, decorative, and industrial applications. In addition, it offers various materials to manufacture rigid and flexible displays for organic light emitting diode, and other display applications, as well as provides high-performance parts, specialty silicone elastomers, and lubricants.
- Mobility & Materials – The Mobility & Materials segment provides engineering resins, silicone encapsulants, pastes, filaments, and advanced films to engineers and designers in the transportation, electronics, renewable energy, industrial, and consumer end markets.
- Water & Protection – The Water & Protection segment provides engineered products and integrated systems for worker safety, water purification and separation, transportation, energy, medical packaging, and building materials.
DuPont announced its financial results for the third quarter of 2022:
- Net Sales were reported at $ 3.3 billion, as compared to $ 3.2 billion in the previous year’s same quarter
- Net income was reported at $ 367 million, as compared to $ 391 million in the previous year’s same quarter
- Earnings per share were reported at $ 0.73, as compared to $ 0.75 in the previous year’s same quarter
DuPont has a market cap of $ 36.7 billion. Its shares are trading at $ 73.97.
The stock started the year 2021 at $ 71.11. The stock remained bullish throughout the year with multiple dips and peaks. The stock closed the year at $ 80.78 representing a 13.6 % appreciation during the year.
In 2022, after peaking at $ 84.97, the stock picked up a bullish trend and continued to decline till it reached the low of $ 50.4. Eventually, the stock closed at $ 68.63 representing a 15 % decline during the year.
Dow Inc. (DOW)
Dow Inc. combines global breadth; asset integration and scale; focused innovation and materials science expertise; leading business positions; and environmental, social, and governance (ESG) leadership to achieve profitable growth and deliver a sustainable future. The Company’s ambition is to become the most innovative, customer-centric, inclusive, and sustainable materials science company in the world. Dow’s portfolio of plastics, industrial intermediates, coatings, and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility, and consumer applications. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $55 billion in 2021.
Dow Inc. Recently reported third quarter 2022 result:
- Net sales were reported at $ 14.1 billion, as compared to $ 14.8 billion in the previous year’s same period
- Net Income was reported at $ 760 million, as compared to $ 1.7 billion in the previous year’s same period
- Earnings per share were reported at $ 1.03, as compared to $ 2.25 in the previous year’s same period
Dow Inc has a market cap of $ 40.4 billion. Its shares are trading at $ 57.44.
The stock started the year 2021 at $ 55.5. After peaking at $ 70.37, the stock reversed its course of action and started to decline. After hitting the low of $ 53.07, the stock started to rise and closed the year at $ 56.72 representing a 2 % appreciation during the year.
In 2022, they started off with a bullish run. After peaking at $ 69.06, the stock reversed its course and started to decline. The stock continued its declining trend till it dropped to the low of $ 43.9 and eventually closed the year at $ 50.39. Overall, the stock declined by 11.2 %
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