In the past week, all of the impact sectors delivered a positive return – for the first time! Especially the Power2X & Fuel Cells sector stood out for the second week in a row with a 12% increase on a sector level. The performance last week was driven by a strong performance accros the board, with OptiCept Technologies skyrocketing 80%. Vastly improved but mixed sector performance YTD and all sectors – still – under water LTM.

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.

All sectors in green

In the past week, all sectors were in green territory. The Power2X & Fuel Cells sector yet again was the best-performing sector with 12% increase following a 23% increase in the week prior to last week. The increase was not driven by one, but by several great performing stocks in the sector. Cell Impact 43%, PowerCell Sweden 16%, Everfuel 15%, and Metacon rose 14%. The Food & Beverage and Mobility sectors also did well with 6-8% increases.

The average return of impact stocks the past week was 3.3% driven by an overall increase in all sectors. All sectors except for the Mobility and Food & Beverages sector are still down year-to-date and thus underperforming relative to the majority of global indexes that have risen.

Overview of the performance of each sector the past week

TOP 10 IMPACT STOCKS OF THE WEEK

OptiCept Technologies works with biological processes that provide increased extraction from the raw material, extended shelf life reduced waste, and retained taste, aroma, color, the nutritional content of the end product. The stock rose 80% in the past week following an order from FPS Food Process Solutions with an estimated value of MSEK 60.

Cell Impact develops and manufactures socalled flow plates for fuel cells and electrolyzers. their technology makes it possible to produce large volumes of flow plates in a cost-efficient way, which is often a prerequisite for hydrogen technology in many applications such as transportation. The company rose 43%.

Clean Industry Solutions Holding is a provider of customized carbon-free energy systems for industrial customers worldwide based on a broad portfolio of solar energy technologies and complementary technologies. The company just proposed to liquidate itself, thus it will be last time the stock is featured in this newsletter.

The average return for the top 10 impact stocks last week was 29.4%.

The 10 best-performing stocks in the past week

TOP 10 IMPACT STOCKS OF THE YEAR

The dynamics of the top 10 continue with new companies getting in each week. SaltX Technology is the best performer with an 121% increase year to date down from 170% last week followed by Nordic Aqua Partners with a return of 106%. Compared to last week, the Cell Impact and non-diary producer Veg of Lund moved in, while CinisFertilizer and Havila Kystruten moved out.

The current average return of the top 10 stocks year-to-date is 63.5%.

Top 10 best-performing impact stocks of the year

All sectors 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. EcoUp has created the largest return year-to-date closely followed by Scandinavian Enviro Systems.

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, 10 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, Midsummer is the best stock with a 69% gain, while Volue, Green Hydrogen Systems, and Ferroamp are also performing great with +50% returns.

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. Cell Impact, Everfuel and Hynion are the only stocks to have had a materially positive impact on the sector 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, Nordic Aqua Partners has delivered a +100% 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 best and Capsol Technologies as the second best-performing 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. Clean Motion AB is the best performer in 2024 followed by Havila Kystruten, and Donkey Republic

Mobility YTD