All of the Nordic impact sectors declined in the past week. The CO2 & Carbon Capture only fell -0.4%, whereas the Waste Management sector saw a 4.8% decline. The energy-related stocks dominated the top 10 list with Cloudberry Clean Energy being the second-best-performing stock after selling three of its hydropower plants for more than MNOK 300.
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.
All impact sectors were down last week
In the past week, all impact sectors fell. Usually, a few stocks with great performance pull the different sectors up. However, it was not the case in the past week, where very few companies had a double-digit return. The CO2 & Carbon Capture fell slightly by 0.4%, while the Waste Management sector fell by 4.8% driven by EcoRub and Recyctec Holding falling 16-22%.
The average return of impact stocks the past week was -1.7%. 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. All sectors are down in the last twelve months except for the mobility sector although it is only up by 1%.
Overview of the performance of each sector the past week
TOP 10 IMPACT STOCKS OF THE WEEK
In the past week, there were very low returns for the top 10 stocks. The best-performing stock only delivered a 12% increase, while the 10th-best only delivered a 5.2% increase. This is among the lowest recorded since the start of tracking of the Nordic impact stocks.
Horisont Energi (12%) is active in clean energy and carbon dioxide capture, as well as transport and storage services. The company converts natural and renewable gases, water, and renewable energy into pure ammonia and hydrogen and offers CO2 transport and storage services using proprietary technology, which aims to pave the way for a low-carbon economy. The stock rose following news of a delayed deadline for the Decision of Concretisation for one of the company’s projects.
Cloudberry Clean Energy (19%) specializes in the ownership, management, and development of renewable energy resources. The business includes a number of hydropower plants and wind farms that are used to generate electricity. Yesterday, Cloudberry entered into an agreement with Cadre to sell three of its hydropower plant assets at a transaction value of MNOK 320.5 on a debt and cash free basis.
Metacon (18%) develops and sells small and large energy systems for the production of hydrogen, electricity and heat. The company was founded in 2011 and has patented technology for the production of hydrogen gas from biogas or other hydrocarbons. The range consists, for example, of gas stations and larger CHP systems.
The average return for the top 10 impact stocks last week was 8%, which is significantly lower than usual.
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. Clean Motion is still the best performer with a 117% return after a stellar performance in the past month followed by SaltX Technology with a 90% return. Clean Motion is the only stock with a +100% return year-to-date. Compared to last week, EcoUp moved out of the top 10, while Opticept Technologies moved in.
The current average return of the top 10 stocks year-to-date is 57%.
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. Agilyx and EcoUp have 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 65% gain, while Green Hydrogen Systems is also performing great with a +52% 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, Cell Impact, and Hynion are the only stocks 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 +60% 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 best and Capsol Technologies as the second 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 Havila Kystruten, and Donkey Republic.
Mobility YTD
