The Nordic impact stocks had a week of great performance with 6 out of 7 sectors in positive territory. Especially the P2X & Fuel Cells, CO2 & Carbon capture, and the Mobility sector did well with 7-10% weekly increases. However, in the past year and year-to-date, all sectors have declined. In the past week, the most notable news on a company level was TECO 2030 rising 100% following bankruptcy in one of their subsidiaries.

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.

The Nordic impact sectors with great returns in the past week, but are still down over the past year!

Weeks of declines in almost every impact sector have turned upside down as several sectors are now up 7-10%. The Power2X & Fuel Cells increased 10% with TECO 2030 up 100% despite one of its subsidiaries filed for bankruptcy. For the CO2 & Carbon Capture, Photocat rose 35% fueling the sector increase to 8%. Lastly, the mobility sector enjoyed a 7% increase as Havila Kystruten rose 25% following 36% in the week prior to last week.

The average return of impact stocks in the past week was 3,2%. Every sector has delivered negative returns over the last twelve months and year-to-date. However, the Energy Production & Storage and Food & Beverage have done significantly better than the rest of the sectors with drawdowns of only -12% to -17% although investors have still lost money by investing in these sectors.

The impact sectors the past week, year-to-date, and last twelve months

Top 10 impact stocks of the week

TECO 2030 (100%) is 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. TECO 2030 is building a gigaproduction facility for PEM hydrogen systems in Narvik, Norway. TECO 2030 is a spinoff from TECO Maritime Group, which has been supplying technology and services to the global shipping industry since 1994. In the past week, the company filed for bankruptcy for one of its subsidiaries – namely TECO 2030 Innovation Center.

Midsummer (60%) is a manufacturer of production equipment used for various thin-film cells and solar cell modules. The product portfolio consists of lightweight panels, manufacturing units, solutions for sputtering, building-integrated solar cell solutions, and applications for vehicles and consumer products. The largest operations are in the Nordic market.

Photocat (34%) initially dealt with outdoor photocatalyst surfaces under the name ShineOn. Subsequently, their activities have also consisted of a real estate platform with indoor flooring surfaces, which has given the company a strong and growing portfolio. The company has operations in the Nordics and several countries in the rest of the world but is headquartered in Roskilde, Denmark.

The average return for the top 10 stocks in the past week was 32.9%.

The 10 best-performing stocks in the past week

TOP 10 IMPACT STOCKS OF THE YEAR

Everfuel continues to be the best-performing stock year-to-date although Midsummer is getting close. The top 10 list has stayed quite consistent over the past few months. Only one change was made in the top 10 list last week as Midsummer moved in, while Donkey Republic moved out. Everfuel is, however, about to be acquired by Swiss Life Asset Management at NOK 13 a share. Furthermore, Volue has been delisted after an almost 100% return year-to-date, thus it does not appear in the top 10 list. 9 stocks have returned over 20% YTD, and time will tell if some of them deliver a 2x return at the end of the year.

The current average return of the top 10 stocks year-to-date is 41.6%. Including Volue, the return is 48.1%. Volue was removed from the top 10 list as it is no longer tradeable, but it did deliver an almost 100% return.

The return for the top 10 impact stocks 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, Tomra Systems, and Bioextrax 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. However, Year-to-date, only 6 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 and BPC Instruments are the only stocks with positive performances. Note that Volue has been delisted.

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, 4 stocks have delivered a +20% 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 as the only stock 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 only 5 stocks. Donkey Republic is the best performer in 2024 and the only company in the sector with a 20% return.

Mobility YTD