The Nordic impact sectors experienced notable differences last week. Multiple sectors rose 6%, while Mobility declined 14%. At the same time, the best-performing stock year-to-date prior to last week was not even in this week’s top 10 list. This underlines the volatility in the growth markets. However, with great risk comes great opportunity. The solar-related stocks did very well and one of them returned +100%.

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.

Notable differences on a sector level

In the past week, there were notable changes in multiple sectors. Power2X & Fuel Cells and Energy Production & Storage rose 6% each. On the other hand, the Mobility sector fell 14%. For the Power2X & Fuel Cells sector, Teco 2030 and Cell Impact rose 16-17%, while it was mainly EAM Solar that pulled the Energy Production & Storage sector forward with a 110% increase. It is one of the biggest weekly declines recorded for a single sector for the Nordic impact stocks. The mobility sector had prior to last week done very well, but a 32% decline in Move About Group and a 25% decline in Green Mobility had a significant negative influence on the sector’s performance.

The average return of impact stocks the past week was 1.1%. All sectors 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

EAM Solar (110%) is an investment company that acquires, owns, and operates a number of photovoltaic systems. The company acquires solar power plants that are mainly already in operation on the European market. The company rose significantly last week, but is dropping 75% today following the outcome of an court case that EAM Solar has been involved in (read more here).

Niutech Group AB (19%) acquires and operates installation companies within digital infrastructure. The subsidiaries are operated independently within the business areas of mobile networks, electrical installations, fiber optics, property networks in copper and fiber and solar energy. The company is previously known as Sun4Energy.

Absolicon Solar Collector AB (18%) sells the concentrating solar collector T160 which can generate temperatures up to 160 degrees Celsius and offers complete production lines for concentrating solar collectors. Solar heat at high temperatures for industries can heat processes and thereby replace fossil fuels. In district heating networks and for large buildings, concentrating solar collectors can generate both heat and solar cooling. 

The average return for the top 10 impact stocks last week was 23.4%.

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. Nordic Aqua Partners is now the best performer with a 73% return. Clean Motion went from the No. 1 spot last week to not being in the top 10 this week. SaltX Technology is very close to the No. 1 spot with a 70% return. Compared to last week, Clean Motion and Midsummer moved out, while Proximar Seafood and Agilyx moved in.

The current average return of the top 10 stocks year-to-date is 44.2, which is considerably lower than last week’s YTD return of 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, 10 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, Green Hydrogen Systems is the best stock with a 46% gain.

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. Cell Impact, Everfuel, 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 +70% 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. Donkey Republic is the best performer in 2024 followed by Havila Kystruten, and Clean Motion AB .

Mobility YTD