The Nordic impact stocks delivered a positive return of 0.2% in the past week. The majority of the sectors increased, and the Mobility sector in particular rose by 3%. Agtira and Green Hydrogen Systems did well following Agtirs’s successful capital raise of nearly MSEK 60 and news of hydrogen pipelines from Denmark to Germany that can create greater demand for hydrogen solutions in the coming years.
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 rising the most – P2X down 15% YTD
In the past week, the majority of the sectors delivered a positive return. The Mobility, Energy Production & Storage, Food & Beverage, and CO2 & Carbon Capture sectors rose 1-3%. Overall, the sectors had broad increases, while Agtira AB drove the Food & Beverage sector in particular with a 38% increase. On the other hand, the Power2X & Fuel Cells sector declined 4% with Metacon and Hynion declining 11-18%. Year-to-date, the P2X sector is now down 15%.
Overall, the average return for impact stocks over the past week was 0.2% and -2.9% year-to-date.
The impact sectors the past week, year-to-date, and last twelve months

Top 10 impact stocks of the week
Agtira AB (38%) is a food research and development company. The company delivers systems for sustainable food production to companies in the food industry. Through aquaponics, the company develops both cultivation methods and software support for cultivation systems for fish and vegetables in urban environments. The stock rose following positive news of its rights issue being oversubscribed so the company now receives MSEK 59.8.
Cortus Energy (26%) is a provider in the energy sector. The company specializes in the supply of renewable energy gas to the process and power industries. The technology is based on patented gasification technology and includes processes such as drying, pyrolysis, and gasification. The operations are mainly conducted on the Nordic market.
Green Hydrogen Systems (16%) is active in the energy sector. The company is a developer and supplier of standardized and modular electrolyzers, but is in financial distress. The products are mainly used for the production of hydrogen and other energy systems. The main activities are in the Nordic market. The stock rose significantly without any company news, but there have been talks of a major expansion of hydrogen pipelines from Denmark to Germany with billions of DKK in investments.
The average return for the top 10 stocks in the past week was 15.3%.
The 10 best-performing stocks in the past week

Top 10 impact stocks of the year
Alternus Energy Group, an independent solar power producer, is the only stock above 100% return year-to-date. The stock is closely followed by Vow Green Metals at 95%. In comparison to last week, 2 stocks were changed in the top 10. Cortus Energy and Dug Foodtech moved in, while Ocean Sun and Soltech Energy moved out.
The average return for the top 10 stocks in the past week was 38.2%:
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. Vow Green Metals stands out from everyone else in the sector with an almost 98% return. Cinis Fertilizer AB and Recyctec Holding are down 40-48%.
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, 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, there is already quite a spread between Hexicon at 21% and REC Silicon at -61%.
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. Every stock in the sector has declined except for Refuels NV.
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. The Food & Beverage sector is dominated by fish companies, and currently, we are seeing one in each end with Biofish Holding at 26%, and Atlantic Sapphire at -28%.
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 5 stocks, and every stock is within 15% and -10%.
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 4 stocks. Havila Kystruten is the stock with the highest return at 27%.
Mobility YTD
