In the past week, the Nordic impact stocks declined 2.1% on average. The Energy Production & Storage sector increased by 4% following great performances by Alternus Energy Group and Aega. Furthermore, Niutech’s subsidiary, Sun4Energy, signed a framework deal with Göteborg Energi at up to MSEK 450. Finally, two new companies entered the top 10 list of the best-performing stocks 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.

Energy Production & Storage as the only sector in green territory

In the past week, the Energy Production & Storage sector stood out as the only sector with a positive return of 4%. Especially Alternus Energy Group and Aega ASA did well within the sector, with a 53% and 14% return respectively. On the other hand, the other sectors performed poorly with negative returns ranging from -2% to -6%. However, it is worth noting that the drawdowns are driven by a few individual companies with poor performance rather than whole sectors going down. For instance, Green Hydrogen Systems fell 58% pulling down the Energy Production Equipment & Services sector, while Move About Group fell 36% having a negative influence on the Mobility sector.

The average return of impact stocks in the past week was -2.1%. 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 38% in the last twelve months. Keep in mind that many of the impact stocks are small caps, which have generally underperformed relative to large caps year-to-date.

Overview of the performance of each sector the past week

Top 10 impact stocks of the week

Alternus Energy Group (53%)  owns, develops, and manages solar cell parks. The company collaborates with both local and international development partners who provide pipelines of new projects for the acquisition and construction of new solar parks. Alternus Energy Group operates throughout Europe.

Fifax (18%) operates, via its own production facilities, breeding, and resale of fish. Most of the range consists of rainbow salmon. The company operates worldwide, with the largest presence in the Nordic region. The customers consist of wholesalers, retailers, and small and medium-sized companies in the restaurant industry. 

Niutech Group (15%) acquires and operates installation companies within digital infrastructure. The subsidiaries are operated independently within the business areas of mobile networks, electrical installations, fiber optics, property networks in copper and fiber, and solar energy. The company offers both installation and service to municipalities, authorities, property owners, and mobile operators. The stock rose following a framework deal between Niutech’s subsidiary Sun4energy and Göteborg Energi Din El for energy storage. The agreement extends for a maximum period of eight years until 2032 and has a maximum volume of MSEK 450.

The average return for the top 10 impact stocks last week was 15.8% compared to 22.2% in the week prior to last week.

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 96% return. The company is about to be acquired at NOK 42, while the current stock price is NOK 41.7. Therefore, it is unlikely the stock will hit 100%. Fifax moved closer to the No. 1 spot following last week’s good performance. The top 10 list usually stays consistent, but there were two changes this week compared to last week. EcoUp and BPC Instruments moved in, while Tomra Systems and SaltX Technology moved out.

The current average return of the top 10 stocks year-to-date is 48.3%.

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

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. Agilyx, Bioextrax, Tomra Systems, and EcoUp 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 remarkable 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, 5 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 and Enersize as the only stocks 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 only company in the sector with a positive return.

Mobility YTD