In the past week, the Nordic impact stocks declined 0.5%. Swiss Life Asset Management got 90.2% shareholder acceptance to acquire Everfuel at NOK 13 a share, while Knox Energy Solutions is going to be delisted at the end of November. Finally, a land-based salmon farming company and a company developing floating power systems were among the best-performing stocks during the week.

NORDIC | IMPACT Helps you to invest more sustainably in the businesses of tomorrow. We track the development of more than 100 Nordic impact companies within multiple impact sectors from small to large cap.

Another challenging week for the impact sectors

In the past week, the Energy Production Equipment & Services sector increased 3%. Knox Energy Solutions, in particular, rose 57%. The stock will be delisted at the end of November. The more traditional Energy Production & Storage sector experienced a slight decrease with no companies standing out. On the other hand of the spectrum, the CO2 & Carbon Capture sector declined -6% with Photocat driving the downturn with a 15% decline.

The average return of impact stocks in the past week was down 0.5%. All sectors continue to be down year-to-date and last twelve months; thus, they are underperforming relative to most of the global indices which have risen. Especially the Energy Production Equipment & Services has faced a tough year being down 42% in the last twelve months with a sector-wide drawdown.

Out of the seven sectors four sectors have only one or two stocks with positive share returns the last 12 months. With another red week for the impact stock a general reversal to a positive trend is – still – not on the horizon.

The sector returns for the past week, year-to-date, and last twelve months

Top 10 impact stocks of the week

Knox Energy Solutions (57%) is going to be delisted end of November with the last trading day on November 25. The company is focused on the production and distribution of hydrogen and associated fuels for ships. Production and distribution take place via its own facilities around the Nordic region and Europe.

Gigante Salmon ASA (17%)  operates land-based fish farming facilities in Lille Indre Rosøy, Norway, breeding and resale of fish. Most of the range consists of salmon. The company operates in Norway. Gigante Salmon’s customers consist of wholesalers, retailers, and small and medium-sized companies in the restaurant industry. The company presented its Q3 results during the quarter, but the stock rose already before the release of their earnings.

Ocean Sun (15%) is a Norwegian company operating in the energy sector. The company develops floating power systems with solar panels mounted on hydroelastic membranes. The technology is used to extract renewable energy at sea. The largest operations are in the Nordic countries and Asia, where the company’s facilities are mainly stationed.

The average return last week was 15.8% among the lowest weekly returns for the top 10 stocks year-to-date.

The 10 best-performing stocks in the past week

TOP 10 IMPACT STOCKS OF THE YEAR

Volue continues to be the best-performing stock year-to-date with a 97% return. The company is about to be acquired at NOK 42, while the current stock price is NOK 41.55. Everfuel climbed to second place after the acquisition of Everfuel at NOK 13 a share by Swiss Life Asset Management got approval from 90.2% of the shareholders. There were two changes this week compared to last week. EcoUp and Aega moved out, while Tomra Systems and SaltX Technology moved in.

The current average return of the top 10 stocks year-to-date is 45%.

The return for the top 10 impact stocks year-to-date

Waste Management

The waste management sector, characterized by its essential and non-cyclical nature, should present a stable investment opportunity with long-term potential, driven by increasing environmental awareness, regulatory demands, and the growing need for efficient waste disposal and recycling solutions. Despite this, the majority of the stocks have performed negatively this year. Agilyx and Tomra Systems have +20% returns year-to-date.

Waste Management – YTD

Energy Production & Storage

The Energy Production and Storage sector offers substantial investment opportunities, as it stands at the forefront of the transition towards renewable energy sources, driven by climate concerns and technological advancements. Year-to-date, 9 stocks have delivered a positive return.

Energy Production & Storage – YTD

Energy Production Equipment & Services

The Energy Production Equipment & Services provides technical equipment and machines to other energy-producing companies such as Ørsted. The sector is to some extent influenced by oil and gas price fluctuations and industry trends. Year-to-date, Volue is by far the best performer. It is eye-catching how all stocks except for two in the sector have delivered a negative return.

Energy Production Equipment & Services – YTD

Power2X & Fuel Cells

The Power-to-X and Fuel Cells sector offers exciting investment opportunities in the evolving landscape of clean and sustainable energy technologies, but investors should also be mindful of the evolving regulatory and competitive landscape in this rapidly advancing field. Everfuel is the only stock with a positive impact on the sector’s performance year-to-date.

Power2X & Fuel Cells – YTD

Food & Beverages

The food and beverages sector is heavily driven by consumer demand and having strong brands is a major advantage. Investors should consider factors such as changing consumer preferences, health and sustainability trends, and global supply chain dynamics to identify promising opportunities. Year to date, 3 stocks have delivered a +30% return.

Food & Beverages – YTD

CO2 & Carbon Capture

The CO2 and Carbon Capture sector presents compelling investment opportunities for companies capturing and removing carbon dioxide from the atmosphere. It is a small sector comprising only 6 stocks, with ChromoGenics as the only stock with a positive return year-to-date.

CO2 & Carbon Capture sector YTD

Mobility

The mobility sector includes among others ride-sharing platforms and the development of electric vehicles to lower emissions and costs for consumers while increasing flexibility. Mobility is the smallest sector we track totaling 5 stocks. Donkey Republic is the best performer in 2024 and the only company in the sector with a positive return.

Mobility YTD