Tomra in a long-awaited (sustainable?) comeback, Mobility driven by Donkey, but impacts in general struggle

The Mobility sector outperformed the other sectors by a large margin. On company level, a company turning waste into useful materials made a deal with one of the largest candy companies in the world, Tomra known for its automated return management systems had a great quarter and new companies also managed to get into the top 10 best-performing stocks for the year. The average return last week was however -1.3%.

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 stands out

The Mobility sector delivered a solid week with a return of 8%. The performance was mainly driven by Move About Group AB which provides electric carpools through its proprietary platform. The sector only consists of 5 stocks making it volatile for single stock movements. The Waste Management sector also did well with a 1% increase following significant price moves from Bioextrax (49%) and Tomra Systems (27%). CO2 & Carbon Capture and Mobility are the only sectors in positive territory this year, while the Energy Production Equipment & Services and P2X & Fuel Cells have fallen by 15% and 20%. Year-to-date, the Nordic impact stocks have, on average, delivered a negative return of 9.6%.

Overview of the performance of each sector the past week

TOP 10 IMPACT STOCKS OF THE WEEK

Bioextrax AB was the best stock with a 49% return. The company specializes in research and development of technology platforms that are further used to convert organic waste into various environmentally friendly materials. The rise came following a notice of allowance on patent approval and shortly after they entered into a long-term joint development agreement with a top 3 candy producer on a global basis that will use some of Bioextrax’s products. Tomra Systems known for its automated return management systems seen in supermarkets and other places also did very well rising 27%. The rise came following strong earnings with ATH revenues and profitability higher than expected. Tomra has had difficulties the past 2-3 years with the stock falling more than 50%, but seems to be recovering. They also got many new price targets varying from 87 NOK to 150 NOK with analysts not being too sure, where the stock is heading. Finally, Green Hydrogen Sytems rose following an 8.1 MW order of electrolyzer capacity.

The average return of the top 10 impact stocks last week was 20.2%

The 10 best-performing stocks in the past week

TOP 10 IMPACT STOCKS OF THE YEAR

Enersize continues to be the best-performing impact stock year-to-date by a large margin to the second best with an 88% increase with Scandinavian Enviro Systems and Volue following as second and third. The listed companies in the top 10 list seem to be more and more stable as we move into the year. However, last week two new companies in terms of Merus Power Oyj and Havila Kystruten still managed to get into the top 10. The current average return of the top 10 stocks year-to-date is 27%.

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, 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. Despite this, the majority of the stocks have performed negatively this year. Year-to-date, Scandinavian Enviro Systems, Quantafuel, CirChem, and Agilyx 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 4 stocks have delivered a positive return with Norsk Renewables performing very poorly (-75%).

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, Sun4Energy, Ocean Sun, and Volue are doing great with 10%+ returns and are now also part of the top 10 for all Nordic impact stocks.

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. Hynion, Everfuel, and Biokraft International have delivered a positive return 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, Opticept Technologies is the odd one with an almost 50% decrease in stock price.

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 consisting of only 6 stocks, with Enersize Oyj as the best-performing year-to-date by a large margin.

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 and Havila Kystruten are the only companies that have delivered a positive return year-to-date.

Mobility YTD

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