Top Hydrogen Energy Stocks: An Investors Guide

If you are considering investing in hydrogen energy stocks you’ve come to the right place. Here we highlight some of the best hydrogen stocks and shed light on the appeal of green hydrogen investment opportunities. This is part of our hydrogen series of articles, check out our in-depth guide on how to invest in hydrogen for more information.

There's no shortage of companies tapping into the hydrogen energy market, but a few stand out due to their innovations, scale, and commitment to green energy. Read our article on hydrogen as a renewable energy and find out more about the different types of hydrogen and colors.

Hydrogen Energy Stocks

• ABB Ltd (NYSE: ABB): ABB is deeply involved in the hydrogen industry, creating technologies for its production, storage, and distribution. As the world moves towards sustainable energy, ABB's solutions are ready to meet the increasing demand. ABB covers the entire hydrogen process, from production to consumption, forming a complete hydrogen ecosystem.

• Air Liquide SA (OTC: AIQUY): Air Liquide SA is a specialist in hydrogen. With over 60 years of experience in areas like space and aeronautics, the company knows all there is to know about hydrogen, from making it to distributing it. Air Liquide sells 1.2 million tons of hydrogen a year, earning them around two billion euros.

• Air Products & Chemicals, Inc (NYSE: APD): Holding a leading position as a global hydrogen provider, this entity oversees more than 100 hydrogen-producing facilities. With a background spanning over six decades in the hydrogen field, APD has numerous hydrogen dispensing technology patents. Its footprint covers over 250 hydrogen fueling projects across over two dozen countries, catering to a wide variety of vehicles. 

• Baker Hughes Co (NYSE: BKR): Baker Hughes is deeply invested in hydrogen technologies, focusing on innovative solutions. With its expertise in energy and turbine technology, it is a major contender in the growing hydrogen market. The company sees hydrogen as key to the future of energy and is actively pushing advancements in this field. 

• Ballard Power Systems Inc (NASDAQ: BLDP): This company focuses on niche applications where hydrogen fuel cells offer unparalleled advantages, pushing for wider fuel cell technology adoption.

• Bloom Energy Corp (NYSE: BE): Taking a leading role in the hydrogen landscape, Bloom Energy is recognized for its Bloom Electrolyzer. Aiming for a carbon-free future, Bloom is powering servers with hydrogen and producing green hydrogen using their electrolyzers.

• BP plc (NYSE: BP): With an ambition to revolutionize the global energy matrix, BP is amplifying its investments in low-carbon energy solutions, maintaining its commitment to essential oil and gas supplies. Among its core growth pillars are bioenergy, electric vehicle charging, convenience, hydrogen, and renewables.

• Cummins Inc (NYSE: CMI): Formerly synonymous with diesel engines, Cummins has transitioned its focus to hydrogen, especially in the hydrogen internal combustion engine domain. This shift aligns with the growing market for hydrogen-fueled heavy vehicles and diesel's evolving regulatory landscape. Their strategic acquisition of Hydrogenics in 2019 enhanced their capabilities in fuel cell and electrolyzer technologies.

• Doosan Corporation (KRX: 000150): Drawing from a solid technological foundation, South Korean multinational conglomerate Doosan is at the vanguard of hydrogen innovations, investing in the development of fuel cells and related infrastructure. 

• Equinor ASA (NYSE: EQNR): Engaged in several ambitious hydrogen ventures, Equinor is exploring ways to transform natural gas into green hydrogen while managing CO2 emissions. With strategic initiatives like the H2M Eemshaven project and collaborations in Germany, Equinor aims to play a pivotal role in the hydrogen economy.

• FuelCell Energy Inc (NASDAQ: FCEL): Offering platforms that generate hydrogen from water using electrolysis, the company's system facilitates storage of this hydrogen as compressed gas. This ensures the availability of power derived from intermittent sources whenever needed. 

• Fusion Fuel Green PLC (NASDAQ: HTOO): With a proprietary electrolyzer named HEVO, Fusion Fuel uses solar energy to produce carbon-free hydrogen. They project their green hydrogen to be competitively priced with other hydrogen forms by 2023, supported by a team with vast expertise in renewable energy fields.

• General Electric Co (NYSE: GE): A global giant, GE has been delving into hydrogen-based energy solutions for a considerable duration. Their turbines have functioned on a wide range of hydrogen mixtures, with the company holding more than half a century of experience in the sector.

• HydrogenPro AS (OTC: HYPNF) (HYPRO): Dominating the electrolyzer market, Hydrogen Pro offers customized solutions for various industries. Focused on the rising green hydrogen demand, its electrolyzers produce top-quality hydrogen at competitive prices.

• ITM Power (LON: ITM): Leading the charge in green hydrogen technology, ITM Power specializes in the design and manufacturing of PEM electrolyzers, promoting global decarbonization.

• LINDE ORD (NYSE: LIN): As one of the topmost industrial gas and engineering corporations globally, Linde offers a holistic approach to the hydrogen market. Their efforts to aid industries in transitioning to a carbon-neutral environment are commendable. 

• Mcphy Energy SA (EPA: MCPHY): Positioned as a significant entity in the hydrogen sector, Mcphy offers services that strike a balance between productivity, societal responsibility, and environmental consciousness. Their offerings cater to industries, mobility, energy, and local communities.

• Nel ASA (OSE: NEL): With its base in Oslo, Nel ASA, established in 1927, focuses on renewable energy solutions, especially for sectors like power-to-gas and power-to-industry. Their expertise lies in crafting electrolyzers for diverse industries and supplying fueling apparatus for multiple vehicles. 

• Plug Power (NASDAQ: PLUG): Renowned as a primary buyer of liquid hydrogen, Plug Power has developed a vast hydrogen infrastructure across North America, innovating comprehensive hydrogen solutions at every turn.

• Saudi Aramco (Saudi Arabian Oil Co (TADAWUL: 2222)): Viewing hydrogen as an essential future fuel, Aramco has made strides in converting a substantial percentage of hydrocarbon energy into hydrogen fuel. Their techniques for repurposing captured CO2 and plans for a mega hydrogen production facility at NEOM highlight their commitment. 

• Shell (NYSE: SHEL): With a vision centered on integrated hydrogen hubs tailored for industry and heavy transport needs, Shell envisages establishing itself as a cornerstone in the global hydrogen economy.

• Siemens Energy AG (OTC: SIEGY): Siemens Energy, with its strong technical expertise, is a leader in the hydrogen sector. It has developed advanced electrolysis solutions, like the Silyzer series, highlighting its innovative approach. The company recognizes hydrogen's future importance and is dedicated to promoting its use, with the Silyzer series representing its commitment to green hydrogen.

• Toyota Motor Corp (NYSE: TM) has been an active advocate for hydrogen as a viable energy source. With the launch of its Mirai sedan, a pioneering hydrogen fuel cell vehicle, Toyota showcased its unwavering belief in hydrogen's capabilities. Toyota envisions a holistic hydrogen ecosystem for various mobility applications, spanning from production to consumption, encompassing all facets of daily life.

• TotalEnergies (NYSE: TTE): owns around 30 hydrogen refueling stations across four European countries. It's working on more projects to boost hydrogen use in transportation. It has built stations for regular cars, buses, and even garbage trucks, and also operates a mobile hydrogen refueling station.

• Uniper SE (ETR: UN01), a state-owned energy company based in Düsseldorf, Germany, is actively engaged in the hydrogen market, emphasizing the pivotal role of hydrogen as an energy carrier of the future. This energy powerhouse actively seeks to produce, store, and transport green hydrogen at competitive prices. Recognizing the robust potential of hydrogen, Uniper aims to leverage its existing infrastructure and assets, creating synergies that will significantly advance the hydrogen economy.

• Yara International ASA (OTCMKTS: YARIY) has made significant strides in the hydrogen sphere, especially regarding the use of hydrogen in ammonia production. Given ammonia's critical role as a possible hydrogen carrier, Yara's endeavors are poised to reshape the hydrogen infrastructure landscape. This Norwegian multinational corporation envisions a greener tomorrow, and its commitment is palpable in its relentless efforts to explore sustainable hydrogen production methods.

Green Hydrogen: The Future of Clean Energy

As you can see there are many companies now involved in the hydrogen economy. However, not all of these hydrogen stocks are necessarily ‘green hydrogen stocks’ – that’s because there is a whole spectrum of color terms for hydrogen depending on how it’s produced.

Traditional grey hydrogen is produced using natural gas which is not a renewable fuel. The more sustainable green hydrogen is produced using renewable energy sources such as wind and solar. Therefore, investors looking to align their portfolios with environmental responsibility may prefer green hydrogen companies to just any company with a hydrogen link.

How to Invest in Hydrogen Energy?

Navigating the world of hydrogen energy investments requires due diligence and a well-informed strategy:

• Research: Delve into the company's financials, leadership, and vision. Look for companies with a proven track record and a clear path to profitability.

• Diversify: Don't put all your eggs in one basket. Diversify your investments across multiple hydrogen energy stocks to mitigate risks.

• Stay Informed: The hydrogen energy landscape is continually evolving. Regularly update yourself with industry news, technological advancements, and policy changes.

• Consult an Expert: Engage with a financial advisor or an investment expert to guide you through the nuances of investing in this sector.

In the midst of the global energy transition, many investors are keenly eyeing the best hydrogen energy stocks as a promising avenue for growth. The surge in interest is largely due to the rise of hydrogen-powered vehicles and machinery that are making a significant impact on the market. Companies that prioritize clean hydrogen production are not only paving the way for a more sustainable future but also positioning themselves at the forefront of this transformative industry shift. As more businesses and consumers embrace clean energy options, these stocks are poised to play a pivotal role in the evolving landscape of global energy.

Hydrogen energy, with its vast potential for revolutionizing the energy sector, offers investors a unique opportunity. Whether you're drawn to the pioneering efforts of top-tier hydrogen companies or the sustainable appeal of green hydrogen stocks, there's ample scope for informed and strategic investment. As the world shifts to cleaner energy, those who invest in hydrogen energy now might benefit in the future.