Creation of a major carbon capture company and very strong hydrogen stock performances

Several sectors had strong performance the past week with almost 10% increases. Aker Carbon Capture rose following a major joint venture/merger, and NEL received MUSD 41 in tax credits. A new stock is now the best performer year-to-date following a deal with one of the world’s leading companies in its field.

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.

CO2 & Carbon Capture and Power2X & Fuel Cells with almost 10% increases

In the past week, we saw the biggest weekly increases ever recorded since we started tracking the Nordic impact stocks. Especially three sectors did very well. The CO2 & Carbon Capture sector rose 9% being fueled by Aker Carbon Capture rising 34%, while Everfuel impacted the Power2X Fuel Cells sector with a 54% increase. For the mobility sector, Clean Motion rose 21%.

The average return of impact stocks the past week was 2,5% due to the largest sectors showing only modest price increases. Although the performance the past week was very good, all sectors are still down year-to-date and thus underperforming relatively 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

Everfuel is an owner and operator of green hydrogen infrastructure that partners with industry and vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. The stock rose 53%. There has not been any company-specific news causing the increase, but Everfuel is currently working on a hydrogen ramp-up. Currently, the stock is up another 19%, which is not recorded in the table below.

Aker Carbon Capture, a developer of carbon capture solutions as well as after-service solutions, rose 34% after they announced a major joint venture with SLB to combine both carbon capture technologies and portfolios. SLB will pay NOK 4.12 billion for the purchase of 80% of the shares in Aker Carbon Capture Holding corresponding to NOK 9.19 per share with further performance-based payments. You can read more about the joint venture/merger via this link. If the two companies can succeed in combining their portfolios and know-how exciting solutions can be made going forward. The deal is another proof of the technological proficiency and interest in the solutions that the Nordic impact stocks own.

NEL delivering solutions for the production, storage, and distribution of hydrogen from renewable energy had a 12% increase following a MUSD 41 tax credit for manufacturing expansion in Michigan. NEL now has around MUSD 170 of tax credits. 

The return for the top 10 impact stocks last week was 20.5%.

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. Midsummer is now the best performer, while SaltX Technology has fallen down to 5th place. Midsummer started its stellar performance at the beginning of March, where they announced a collaboration with one of the world’s largest manufacturing companies of roofing materials, integrating Midsummer’s thin film solar solutions into some of Soprema’s solutions. The current average return of the top 10 stocks year-to-date is 51.3% and Midsummer is the only stock with a +100% return.

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. Tomra Systems, Scandinavian Enviro Systems, and Agilyx have delivered 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, 7 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 stand-out stock, while Volue, Swedish Stirling, Green Hydrogen Systems, and Ferroamp are doing great with 30%+ 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. Everfuel is the only stock 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, two stocks have delivered +40% 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 Capsol Technologies 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 best performer in 2024.

Mobility YTD

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