Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future.
The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing.
It’s worth noting that the downside to hydrogen as a clean energy source is that 99 percent of the hydrogen fuel currently in production is derived from power generated by coal or gas. To combat this problem, some companies are pursuing green hydrogen, which is produced by splitting hydrogen atoms from oxygen using electrolyzers powered by renewable energy.
Market cap: US$207.64 billion; share price: US$431.95
Leading global industrial gases and engineering company Linde has been producing hydrogen for more than a century and is a pioneer in new hydrogen production technologies. Linde’s operations cover each step of the hydrogen value chain, from production and processing through distribution and storage. The company also uses its gases for industrial and consumer applications.
Globally, the company has more than 500 hydrogen production plants. Through its ITM Linde Electrolysis joint venture, Linde has become one of the world’s leading suppliers of green hydrogen produced using proton exchange membrane (PEM) electrolyzer technologies. This also makes it one of the few green hydrogen stocks.
Market cap: US$62.737 billion; share price: US$282.61
Founded in 1940, Air Products & Chemicals sells industrial gases and chemicals and provides related equipment and expertise to a wide range of industries, including the refining, chemical, metals, electronics, manufacturing, and food and beverage segments.
Market cap: US$37.15 billion; share price: US$271.61
Indianapolis-based Cummins designs, manufactures and distributes engines, filtration and power-generation products with a specialization in diesel and alternative fuel engines and generators.
Market cap: C$1.15 billion; share price: C$3.77
Ballard Power Systems is a global leader in hydrogen fuel cell technology and is working to accelerate the adoption of this technology. The company develops and manufactures PEM fuel cell products that create electrical energy from the combination of hydrogen and air. Ballard’s products are designed for heavy-duty trucks, buses, trains and marine applications, as well as backup power storage.
Market cap: C$145.62 billion; share price: C$8.37
Headquartered in Vancouver, British Columbia, Westport Fuel Systems supplies advanced alternative fuel delivery components and systems to the transportation industry worldwide. This includes its high pressure direct injection (HPDI™) fuel system for commercial vehicles. The system can run on biogas, natural gas, hydrogen, and other alternative fuel products. The company has operations in partnership with leading global transportation brands across more than 70 countries in Europe, Asia, North America, and South America.
Market cap: C$61.95 million; share price: C$0.91
Market cap: AU$113.4 million; share price: AU$0.105
Energy exploration and development company Elixir Energy’s projects encompass both natural gas and renewables, including a green hydrogen project in Mongolia. The Gobi H2 green hydrogen and solar project is a joint venture with renewable energy firm SB Energy.
Market cap: AU$108.15 million; share price: AU$0.455
Technology development company Hazer Group is working to commercialize the HAZER Process, a low-emission hydrogen and graphite production process initially developed at the University of Western Australia. It uses iron ore as a process catalyst to convert natural gas and similar feedstocks into hydrogen for use as an industrial chemical and in fuel cells, as well as into high-quality synthetic graphite for use in lithium-ion batteries.
Market cap: AU$75.28 million; share price: AU$0.195
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Elixir Energy is a client of the Investing News Network. This article is not paid-for content.
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