In the dynamic landscape of clean energy, hydrogen has emerged as a key player, heralded by many as the fuel of the future. With an increasing global emphasis on reducing carbon footprints and the transition to sustainable energy sources, hydrogen presents immense potential not only as an energy carrier but also as a lucrative investment opportunity. As the industry continues to grow and evolve, several companies are positioning themselves at the forefront of this hydrogen revolution. This article delves into those hydrogen companies that hold promising prospects for investors eager to tap into this burgeoning market.
Air Liquide SA (OTC: AIQUY) has a central focus on hydrogen in its operations. With over 60 years of expertise in various industries like space, aeronautics, and heavy industry, Air Liquide possesses comprehensive knowledge of the entire hydrogen value chain, encompassing production, transport, storage, and distribution. Its unparalleled technological acumen, especially in extreme cryogenics, positions it as an essential entity in executing hydrogen projects, catering to diverse industry needs. Currently, it boasts hydrogen sales of 1.2 million tons annually, yielding a revenue of two billion euros.
Air Products & Chemicals, Inc (NYSE: APD) is recognized as the world's foremost hydrogen supplier, owning and managing over 100 hydrogen facilities that generate in excess of seven million kilograms of hydrogen daily. Additionally, it upholds the largest global hydrogen distribution network. With a history spanning over 60 years in the hydrogen sector, the entity boasts a vast array of patents related to hydrogen dispensing technology. Air Products has participated in upwards of 250 hydrogen fueling initiatives across more than 20 nations, with its hydrogen being utilized for a diverse range of vehicles, including cars, trucks, vans, and buses.
Ballard Power Systems Inc (NASDAQ: BLDP) concentrates on applications where hydrogen fuel cells offer a distinct edge and is committed to hastening the adoption of fuel cell technology.
Bloom Energy Corp (NYSE: BE) is at the forefront of the hydrogen economy, with its Bloom Electrolyzer playing a pivotal role in its realization. Bloom is propelling a zero-carbon future by using hydrogen to power its servers and creating clean hydrogen with its Electrolyzers. The company recently launched the Electrolyzer, aiming to expedite the journey to affordable, net-zero hydrogen. Furthermore, by integrating hydrogen into the current natural gas system, Bloom Energy underscores the lasting advantages of energy storage and resilience.
BP plc (NYSE: BP) wants to create a better and more balanced energy system globally. To get there it is increasing its investment in the transition to lower carbon energy while keeping oil and gas flowing where it’s needed. BP’s five growth engines are; bioenergy, EV charging, convenience, hydrogen, and renewables & power.
Cummins Inc (NYSE: CMI) is at the forefront of hydrogen internal combustion engine technology. Historically known for its association with diesel engines, it has now pivoted towards hydrogen in response to increasing demand for hydrogen-powered heavy trucks and pickups, and regulatory scrutiny of diesel. In 2019, Cummins Inc acquired full ownership of Hydrogenics, incorporating essential fuel cell and electrolyzer technologies into its portfolio.
Equinor ASA (NYSE: EQNR) is involved in multiple notable hydrogen initiatives. It is exploring preliminary opportunities to transform natural gas into clean hydrogen, concurrently capturing and storing CO2. Equinor is advancing the H2M Eemshaven project, intending to establish a production site in the Eemshaven industrial region. Here, it plans to convert natural gas from the Norwegian continental shelf into hydrogen, accompanied by CO2 capture and storage. In collaboration with the German energy firm RWE, Equinor has proposed transitioning from coal-fired to gas-fired, hydrogen-ready power stations in Germany. This strategy includes producing low-carbon and renewable hydrogen in Norway for export to Germany via pipelines.
FuelCell Energy Inc's (NASDAQ: FCEL) platforms are capable of producing hydrogen from water through electrolysis. This hydrogen can then be stored as compressed gas and later converted into power when required. Such a system enables intermittent power sources to be accessible at any time and place.
Fusion Fuel Green PLC (NASDAQ: HTOO) offers a unique, miniaturized PEM-based electrolyzer, known as the HEVO, that utilizes solar energy to produce hydrogen without any carbon emissions. Furthermore, its solution is anticipated to produce green hydrogen at prices competitive with brown and grey hydrogen by 2023. The team behind Fusion Fuel possesses a strong background in engineering, electrochemistry, solar power, and renewable energy.
General Electric Co (NYSE: GE), one of the most iconic companies globally, has been actively exploring hydrogen as an energy source for quite some time now. Indeed, GE boasts unmatched expertise in hydrogen. Its gas turbines have operated on fuel compositions with hydrogen content varying from 5% to a full 100%. The company has over 50 years of experience in the hydrogen realm, with more than 120 units powered by hydrogen fuels and an impressive 8.5 million+ operating hours, which is industry-leading.
As per the recent McCoy Power Report, GE surpasses other OEMs in terms of experience in operating gas turbines on hydrogen. In total, it has over 120 gas turbines globally that support power generation using hydrogen and related fuels. Furthermore, GE's combustion technologies can function on diverse hydrogen concentrations, reaching up to approximately 100% by volume.
ITM Power (LON: ITM) is a leader in Green Hydrogen technology, crucial for the planet's future. It designs and manufactures PEM electrolysers, allowing its customers to decarbonize.
Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF) aims to facilitate a shift towards cost-effective, readily available, and resilient clean energy. Its investments in low carbon energy sources and technologies are designed to promote a departure from fossil fuels, paving the way for a sustainable future. Jericho Energy Ventures Inc. is a clean hydrogen company committed to providing sustainable solutions. It champions a culture emphasizing diversity, equity, inclusion, and accessibility, and actively supports Sustainable Development Goals (SDGs). *For a deep dive read our exclusive report.
LINDE ORD (NYSE: LIN), among the world's top industrial gas and engineering firms, encompasses the entirety of the hydrogen value chain. The company assists clients and industry participants in understanding the intricacies of transitioning to a carbon-neutral economy. Linde's engineers collaborate with clients to chart their journey towards zero emissions, aiding in the project's design, construction, and operation. The company's current expertise is rooted in a trailblazing history and a forward-looking vision.
Mcphy Energy SA (EPA: MCPHY) is a key player in the hydrogen market, catering to various sectors to promote the energy transition and boost economic performance. Its electrolyzers serve the industrial sector by providing low-carbon hydrogen, balancing productivity with social responsibility. In mobility, it has hydrogen refueling stations for diverse vehicles, from utility vehicles and buses to private cars. In the energy domain, it offers solutions for storing and capitalizing on surplus renewable energy, ensuring energy autonomy. Additionally, with a local production focus, it meets the multifaceted needs of local communities, including mobility, storage, and housing.
Nel ASA (OSE: NEL), established in 1927 and headquartered in Oslo, Norway, specializes in renewable energy, particularly serving the power-to-gas and power-to-industry sectors, among others. In hydrogen production, it offers electrolysers tailored for various industries, including fertilizer, green steel, and cement. Additionally, Nel ASA supplies fueling equipment suitable for vehicles such as cars, trucks, and buses.
Plug Power (NASDAQ: PLUG) is the leading purchaser of liquid hydrogen and has established and managed a hydrogen highway spanning North America. The company consistently innovates comprehensive hydrogen fuel solutions, leveraging the distinct advantages of hydrogen.
Saudi Aramco (Saudi Arabian Oil Co (TADAWUL: 2222)) sees hydrogen as a possible fuel of the future. So far, Aramco has achieved the capability to convert approximately 80-85% of hydrocarbon energy into hydrogen fuel. The company employs two innovative techniques for the captured CO2 utilization. The first method involves injecting the CO2 into their oil reservoirs for Enhanced Oil Recovery. The second method repurposes the waste CO2 into industrial chemicals, such as methanol. Any surplus CO2 is securely stored deep underground.
Meanwhile, at NEOM, Aramco plans to build a $5 billion hydrogen production facility, set to be the world's largest green hydrogen project. This facility will produce 650 tons of carbon-free hydrogen daily for transportation, reducing global carbon dioxide emissions by three million tons annually.
Shell (NYSE: SHEL) is focusing on the creation of integrated hydrogen hubs tailored for industry and heavy-duty transportation. In the forthcoming years, it aspires to become a dominant entity in the global hydrogen economy.
TotalEnergies (NYSE: TTE) owns a network of nearly 30 hydrogen refueling stations (HRS) spanning Germany, the Netherlands, Belgium, and France. The company is actively advancing several new HRS projects to pave the way for more extensive hydrogen mobility uptake. Additionally, it has constructed various public and private hydrogen stations for both passenger vehicles and larger transport modes, including buses and garbage trucks. The company also operates a mobile hydrogen refueling station.
The pursuit of a clean energy future has galvanized major global companies to steer towards hydrogen as an optimal energy carrier. From its diverse applications in transportation and industry to its potential as a renewable source, hydrogen is gradually becoming the lynchpin of a sustainable future.
Companies such as Air Liquide, Aramco, Ballard Power Systems, and General Electric, among others, illustrate the vast spectrum of innovation and commitment seen in this sector. Each entity, whether old or new, brings to the table years of expertise, research, and development. They are not only propelling the world closer to a zero-carbon reality but also presenting unprecedented investment opportunities.
The hydrogen market is a tapestry of technological evolution, relentless research, and economic potential. As we stand at the cusp of an energy revolution, these companies attempt to guide us to a sustainable, green, and prosperous tomorrow.
Sign up for Investing Intel Newsletter
Hydrogen is seen as a key future fuel for clean energy. It can help reduce carbon emissions, especially in big industries and transportation. Investing early in hydrogen could bring both environmental and financial benefits. For advice on investing, check out the article 'How to Invest in Hydrogen' for a greener future.