In the past week, the Nordic impact stocks declined 0.5% with 3 sectors standing out. TECO 2030 announced exciting plans to expand in the U.S. with high-capacity fuel cell production to meet the demand of emerging industries. Interestingly, there is a difference in the LTM returns of 39% for the Energy Production & Storage and Energy Production Equipment & Services sectors, although both sectors share the same stakeholders.

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.

Weekly returns pointing in two different directions

In the past week, the Food & Beverages, Power2X & Fuell Cells, and CO2 & Carbon Capture rose 2-3% respectively. As seen before, it is often a few stocks within each sector driving the returns up and down, and last week was no exception. Agtira fuelled the Food & Beverage sector with a 33% return, TECO 2030 fuelled the Power2X sector with a 25% increase, and Photocat drove the Carbon Capture sector with a 24% return. On the other hand, the Waste Management sector declined 3% with Pryme declining 66% percent following a poor trading update.

The average return of impact stocks in the past week was -0.5%. All sectors continue to be down year-to-date and in the last twelve months; thus, they are underperforming relative to most of the global indices which have risen. Especially the Energy Production Equipment & Services sector has faced a tough year being down 40% in the last twelve months. Interestingly, the Energy Production & Storage sector is almost “break-even” at -1% in the last twelve months, although many of the companies have the same stakeholders as the Energy Production Equipment & Services sector being down 40%.

The impact sectors the past week, year-to-date, and last twelve months

Top 10 impact stocks of the week

AEGA (34%) is a Norwegian solar energy producer that operates solar power parks mainly of a smaller nature. The portfolio consists of several European solar energy parks, with most of the investments in the Italian market. In addition, the company is an active investor in other companies operating in the industry. Notably, multiple insiders have sold shares in the past few weeks.

Agtira (33%) is a food research and development company. The company delivers systems for sustainable food production to companies in the food industry. Through aquaponics, the company develops both cultivation methods and software support for cultivation systems for fish and vegetables in urban environments.

TECO 2030 (15%) is a Norwegian cleantech company developing zero-emission technology and PEM hydrogen fuel cell systems that enable ships and other industrial applications to become emission-free. TECO 2030 is building a gigaproduction facility for PEM hydrogen systems in Narvik, Norway. TECO 2030 is a spinoff from TECO Maritime Group, which has been supplying technology and services to the global shipping industry since 1994. Yesterday, the company announced potential plans to raise capital to expand in the U.S. with high-capacity fuel cell production to meet the demand of emerging industries such as data centers.

The average return for the top 10 stocks last week was 19.7%.

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 filed for a delisting yesterday and is about to be acquired at NOK 42. Everfuel is currently third and is also about to be acquired at NOK 13 a share by Swiss Life Asset Management. There was one change this week compared to last week. Aega moved in and all the way to the second place, while SaltX Technology moved out.

The current average return of the top 10 stocks year-to-date is 47%.

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, 8 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