In the past week, the Power2X & Fuel Cells sector skyrocketed with a 23% increase on a sector level. Many companies in the sector did exceptionally well. The CO2 and Carbon Capture sector also had a good performance. One of the best-performing stocks of the week announced a partnership with Toyota Motor for serial production of heavy-duty fuel cell electric powertrain kits.

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.

P2X in beast mode

In the past week, the Power2X & Fuel Cells sector became the best-performing sector with 23% increase. The largest weekly increase recorded in the index to date. The sector consists of 10 stocks. Metacon fueled the rise with a 130% increase, but other companies also did well. Cell Impact rose 30% Hynion rose 17%, and NEL 15%.

The CO2 & Carbon Capture sector also did well although it was mainly driven by an increase of 48% by ChromoGenics AB.

The average return of impact stocks the past week was 1.7% driven by a few companies’ incredible performance. 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.

Overview of the performance of each sector the past week

TOP 10 IMPACT STOCKS OF THE WEEK

Metacon is a developer of small and large energy systems for the production of hydrogen, electricity and heat. The stock rose 131% without any news in the past week, but the stock is up 266% in the past month following a partnership with Siemens as well as positive market development in the U.S. after an American hydrogen company made a deal with the U.S. Energy Department, which has fueled the whole hydrogen sector upwards.

SaltX Technology, a developer of sustainable electrification technology aimed at the industrial sector, rose 48%. As it is the case with Metacon, SaltX also did not release any company-specific news and the past week, but should rather be seen as momentum with stock being up 106% the past month, and 140% the three months.

Hexagon Purus rose 18%. The company is working on the development of complete vehicle systems. The product portfolio is broad and mainly includes high-pressure cylinders and battery packs for fuel cell and battery-powered vehicles. In the past week, the company announced a deal with Toyota Motor North America to supply of heavy-duty fuel cell electric powertrain kits as well as a pioneering electric heavy-duty truck together with Hino Trucks.

The average return for the top 10 impact stocks last week was 36%.

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. SaltX Technology is the best performer with an 170% increase year to date followed by Nordic Aqua Partners (101%). Compared to last week, the CinisFertilizer and Havila Kystruten moved out while EcoUp and ChromoGenics moved in.

The current average return of the top 10 stocks year-to-date is 64.2% – higher than last week’s 51.4%.

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. Scandinavian Enviro Systems has 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 66% gain, while Volue, Green Hydrogen Systems, and Ferroamp are also performing great with +40% returns.

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 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 +80% 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