The CO2 & Carbon Capture sector outperformed the other sectors massively although it was mainly driven by one stock. A Finnish IT company was the best-performing stock last week and is now also the best stock year-to-date with a +50% return. Furthermore, a producer of indoor-grown vegetables also did very well following a deal with Lidl. Companies within energy equipment & services have struggled this year – down 11% year-to-date.
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.
A GREEN WEEK FOR THE GREEN STOCKS
The investors are still weary of the impact stocks, in general looking elsewhere for high returns, focusing on low-risk companies (revenue-generating and low R&D risk). The food & beverage companies in general fit that description and have the highest percentage of stocks with a positive return this year. On average, the Nordic Impact stocks fell 1% last week, however one sector did very well. The CO2 & Carbon Capture sector was the best performing with a 9% return after a 7% drawdown in the week before last week but is still up 3% for the year. The sector only consists of 6 companies and the rise was driven by Enersize with a 56% increase following a 300,000 SEK deal.
Since the beginning of the year, CO2 & Carbon Capture and Food & Beverage have been the only sectors in positive territory. At the same time, PtX & Fuel Cells and Energy Production Equipment & Services have performed poorly with returns of -11 to -12%. Companies within the energy equipment & services sector have had a tough start of 2024 with the majority of the companies delivering a negative double-digit return, and only one stock with a positive double-digit return. Year-to-date, the Nordic impact stocks have on average delivered a negative return of 5.1%.
Overview of the performance of each sector the past week
TOP 10 IMPACT STOCKS OF THE WEEK
Enersize Oyj was the best stock with a 56% return. Enersize is a Finnish IT company that develops software targeted at industrial compressed air systems to make energy savings. Last week, they received a 300,000 SEK order. Agtira AB also did well with a 33% increase following a 10-year agreement with Lidl. Agtira is a food technology company that provides and operates facilities for sustainable and profitable food production. By growing cucumber, tomato, herbs, and other vegetables directly adjacent to supermarkets, they limit the transportation route and ensure that consumers can eat fresh vegetables all year round. Finally, Agilyx ASA, a company specializing in providing products and solutions for recycling centers and major industrial processes, rose 26% following the appointment of a new CEO. In the past week, the top 10 best-performing Nordic impact stocks rose 20% on average
The 10 best performing stocks the past week
TOP 10 IMPACT STOCKS OF THE YEAR
Following Enersize’s great performance last week (and another 28% today), the Finnish IT company focusing on compressed air systems is now the best-performing Nordic impact stock. SaltX Technology, a developer of large-scale energy storage solutions and electrification technology, continues to be a good-performing stock year-to-date as well with a return of 30%. Last week, the company was granted an EU patent for its transportable carbon dioxide capture and storage system. The current average return of the top 10 stocks year-to-date is 23%.
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, often presents 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. Year-to-date, EcoRub AB, ReNewCell, Cinis Fertilizer, and Quantafuel AS have delivered 10%+ returns.
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, only 5 stocks have delivered a positive return.
Energy Production & Storage – YTD
Energy Production Equipment & Services
The Energy Production Equipment & Services is providing 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, Ferroamp is currently the only company with a +10% return to the shareholders.
Energy Production Equipment & Services – YTD
Power2X & Fuel Cells
The Power-to-X and Fuel Cells sector offer 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. Hynion and Everfuel have delivered a positive return year-to-date, while the Swedish company Taurus Energy, which is in the process of a reverse merger, is the impact sector’s worst performing.
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 focus on considering factors such as changing consumer preferences, health and sustainability trends, and global supply chain dynamics to identify promising opportunities. Ekobot AB, a developer of robotics and AI solutions within agriculture, is the best-performing stock year-to-date closely followed by Agtira AB.
Food & Beverages – YTD
CO2 & Carbon Capture
The CO2 and Carbon Capture sector presents compelling investment opportunities for companies involved in capturing and removing carbon dioxide from the atmosphere. It is a small sector consisting of only 6 stocks, with Enersize Oyj as the 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 with totalling 5 stocks. Donkey Republic is the only companies that have delivered a positive return year-to-date.
Mobility YTD
