In the past week, the Mobility and Energy Production & Storage sectors did very well – again. The best-performing stock is about to be acquired by EQT, the leading private equity group in the Nordics. Further, additional news came out for SaltX Technology’s electric quicklime factory, and the hydrogen stocks also had good performance after an American hydrogen company made a deal with the U.S. Energy Department, which fueled the P2X & Fuel Cells sector forward.
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.
Mobility and P2X on top
In the past week, the Mobility sector became the best-performing sector – having done well the past month. Energy Production & Storage as well as Power2X & Fuel Cells also did well with 5% and 3% increases each. Move About Group AB was fueling the Mobility sector with an 18% increase, while OX2 pulled the Energy Production & Storage sector forward following a bid of SEK 60 per share by EQT. Metacon helped to fuel the Power2X & Fuel Cells sector with an 18% increase.
The average return of impact stocks the past week was 1% driven by an overall increase rather than a few companies standing out. All sectors except for the mobility 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
OX2, a developer of onshore and offshore wind power, solar power, grid connections, energy storage, and the management of proprietary projects, rose 39% following a potential acquisition of OX2 by EQT. The acquisition has not been completed yet, but EQT already controls 51.8% after Peas Industries decided to sell its shares (45.6%). The stock currently trades at SEK 58.9.
SaltX Technology, a developer of sustainable electrification technology aimed at the industrial sector, rose 27%. The increase came following additional news of a partnership to build the world’s first electric quicklime factory. One of the partners, SMA Mineral, has entered into an agreement with Infinium regarding the delivery of CO2 for the production of e-fuels targeted at the aviation industry.
Metacon is a developer of small and large energy systems for the production of hydrogen, electricity and heat. The stock rose 18% after an American hydrogen company made a deal with the U.S. Energy Department, which fueled the whole hydrogen sector upwards. NEL ASA, another hydrogen stock, also rose 12%.
The average return for the top 10 impact stocks last week was 23%.
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 the best performer with an 85% increase year to date followed by Nordic Aqua Partners (64%). Compared to last week, the CirChem and Recyctec moved out while Havila Kystruten and Clean Motion moved in.
The current average return of the top 10 stocks year-to-date is 51.4% – higher than last week’s 46.2%.
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. Scandinavian Enviro Systems has created the largest return 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, Midsummer is the best stock with a 66% gain, while Volue, Green Hydrogen Systems, and Ferroamp are also performing great with +40% 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, Nordic Aqua Partners has delivered a +80% 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 totaling 5 stocks. Clean Motion AB is the best performer in 2024 followed by Donkey Republic, and Havila Kystruten.
Mobility YTD
