Robots on the rise

Most of the Nordic impact sectors were in positive territory with the food & beverage on top. A farming robotics firm rose more than 60% following a distributor agreement making it not only the best-performing stock for the week, but also for the year. Several stocks focused on hydrogen solutions to ships also did well, while most of the energy-producing stocks are still being quiet in 2024.

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.


On average, the Nordic Impact stocks fell 0.6% last week. However, the majority of the sectors were in positive territory. The Food & Beverages sector was the best performing with a 5% return, driven by Ekobot (66%) and Opticept Technologies (6%), and negatively by Agtira (-6%). Since the beginning of the year, Food & Beverage has been the only sector in positive territory, while CO2 & Carbon Capture is the best sector the last 12 months – however with a negative return.

Overview of the performance of each sector the past week


Ekobot AB was the best stock with a 66% return. Ekobot is a technology company focused on the agricultural industry. The company is a developer of robotics and AI solutions that are further used for automation in agricultural production with a particular focus on vegetable cultivation, allowing farmers to reduce their costs by up to 20%. In the past week, Ekobot entered into a distributor agreement for the Dutch market regarding Ekobot’s autonomous robotic systems WEAI for mechanical weed control. The initial target is to sell 10 robotic systems during 2024 and early 2025, with delivery scheduled for the 2025 growing season (read more). Teco 2030, 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, rose 26% following a 2.3 MEUR grant from the EU Horizon Project, while Hyon, also focused on the production and distribution of hydrogen and associated fuels for ships, rose 19% without posting any news.

The 10 best performing stocks the past week


Following Ekobot AB’s stellar performance last week, the company has now overtaken SaltX Technology as the best-performing Nordic impact stock year-to-date. The company has previously had trouble selling its robots. Following last week’s deal with a Dutch firm, the issue might be solved.

SaltX Technology, a developer of large-scale energy storage solutions and electrification technology, continues to be a good-performing stock year-to-date with a return of 22%. The company has not posted any news in 2024 but has been on a positive trend since September 2023 – gaining some of the lost ground. Since September 2023, the company has received a grant of 20 MSEK, received an order of 70 MSEK, opened a research centre as well as started initial work on a pilot plant for electric cement production in India.

Top 10 best performing impact stocks of the year

Eventful 2023 for the Nordic impact stocks

The Nordic impact stocks had a difficult 2023 with share price declines across the board. Positive investments were few, but three stocks managed to deliver returns of more than 200%. Thus, 2023 was another dire year for the investors – no matter if they were investing in large caps or small caps. Things are, however, looking brighter for 2024 – both from a macroeconomy perspective and from a stock market perspective with valuations at an extremely low level.

Especially 5 stocks did very well. The best-performing delivered a more than 3x return. You can view the top 5 stocks, see how every stock in each sector performed and much more. Find it here.

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, ReNewCell, Vow Green Metals, EcoRub, 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, Hyon, Sun4Energy Group, Ferroamp and Ocean Sun have done well with +10% returns to their 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 Taurus Energy have delivered a positive return year-to-date. Everfuel and Teco 2030 remain at 0%.

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.

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 Bergen Carbon Solutions AS as the best-performing year-to-date.

CO2 & Carbon Capture sector YTD


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. GreenMobility and Donkey Republic are the only companies that have delivered a positive return year-to-date.

Mobility YTD


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