In the past week, the average return for the Nordic impact stocks was -2.4%. Powercell Sweden got approval in principle for a new methanol-to-power solution, and Ørsted was awarded new contracts for Hornsea 3 and 4 at more attractive energy prices. Hornsea 3 will be the world’s single largest offshore wind farm with a capacity of nearly 3 GW. Finally, 1 new company entered the top 10 list.
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 sectors were in decline last week except for the emerging P2X and carbon capture sectors
In the past week, the Power2X & Fuel Cells and CO2 & Carbon Capture rose 3% and 1%. Powercell Sweden and Teco 2030 fuelled the P2X sector, while Bergen Carbon Solutions fueled the CO2 & Carbon Capture sector. On the other hand, Mobility declined 7% with Move About Group and Havila Kystruten falling 17% and 15% each. All sectors have been declining year-to-date and for the last twelve months. However, there are always individual stocks within each sector that are rising. For instance, the Energy Production & Storage declined 1% although Ørsted rose 8% after being awarded capacity in the UK for large parts of Hornsea 3 and Hornsea 4 at more attractive energy prices than previous auctions. Hornsea 3 will be the world’s single largest offshore wind farm with a capacity of 2,955 MW.
The average return of impact stocks in the past week was -2.4%. All sectors continue to be down year-to-date; thus, they are underperforming relative to the majority of global indexes that have risen. Keep in mind that many of the impact stocks are small caps, which have generally underperformed relative to large caps year-to-date.
Overview of the performance of each sector the past week
Top 10 impact stocks of the week
Knox Energy Solutions (32%) is focused on the production and distribution of hydrogen and associated fuels for ships. Production and distribution take place via its own facilities around the Nordic region and Europe. In addition to the main operations, the company also offers systems for storage and distribution. The largest operations are conducted in the Nordic region.
Powercell Sweden AB (22%) is active in fuel cell production. The technology is patented with cutting-edge technology and the modular system of fuel cell platforms is powered by produced hydrogen with electricity, heat, and water as emissions. The fuel cells are also designed to handle hydrogen from biogas, natural gas, or biodiesel. On September 4, the company received an approval in principle for a new methanol-to-power solution. According to the company, it offers a significant step in the maritime industry’s transition to cleaner energy.
Bergen Carbon Solutions (15%) focuses on the use and conversion of carbon dioxide into various carbon products. The company’s proprietary product Eco-Nanotechnology converts CO2 molecules into carbon and oxygen. The carbon atoms are then used to build various carbon structures such as carbon nanofibers and carbon nanotubes.
The average return for the top 10 impact stocks last week was 14.9%.
The 10 best-performing stocks in the past week
TOP 10 IMPACT STOCKS OF THE YEAR
Volue continues to be the best-performing stock year-to-date with a 95% return. Thus, no stock has delivered a 100% return. It might change next week with Volue being close to a 100% return. The top 10 list usually stays quite consistent with a few changes. Last week there was only 1 change. Tomra Systems moved in, while Agilyx moved out.
The current average return of the top 10 stocks year-to-date is 42%.
The return for the top 10 impact stocks year-to-date
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, Tomra Systems, Agilyx, and Bioextrax 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, 9 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, Volue is by far the best performer.
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 and Cell Impact are the only stocks to have had a 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, 3 stocks have delivered a +30% 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 5 stocks. Donkey Republic is the best performer in 2024 closely followed by Havila Kystruten AS.
Mobility YTD
