Invest in Clean Energy: 3 Essential Hydrogen Stocks


  • These three companies are good options if you want to have some clean energy in your portfolio.
  • Fuelcell Energy (FCEL): The collaboration with IBM and its participation in the Bay Hydrogen Hub project with EDF Energy underscores its commitment to sustainability.
  • NET Power (NPWR): Maintains a strong financial position with $645 million in cash and short-term investments.
  • Ballard Power (BLDP): Is at the forefront of green transportation solutions, supplying 2.4 MW of fuel-cell engines for hydrogen locomotives.
hydrogen stocks - Invest in Clean Energy: 3 Essential Hydrogen Stocks

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All those companies that collaborate with the welfare of our planet will always deserve a great position in the financial markets, especially companies that contribute to the creation of clean energy. That is the case with these hydrogen stocks.

These companies are doing incredible work and are having an amazing development. If you want to invest in companies that are creating clean energy and collaborating with our environment’s welfare, these clean energy stocks are undoubtedly a good option.

So here are three hydrogen stocks to consider

Fuelcell Energy (FCEL)

An image of a hydrogen fueling station against a blue sky. top hydrogen stocks to buy
Source: DesignRage /

FuelCell Energy (NASDAQ:FCEL) is making waves in the clean energy sector and is becoming a crucial player in the drive towards renewables.

In its recent financial report, it has shown impressive year-on-year growth, with revenues soaring to $38.3 million, reflecting a significant increase over the previous year. Although there has been a slight increase in losses, the company’s commitment to innovation and strategic partnerships is promising.

One interesting collaboration involves partnering with International Business Machines (NYSE:IBM) to harness the power of generative artificial intelligence, optimize the operating parameters, and extend the lifetime of its fuel cells.

This is a key step in the global shift towards cleaner and more sustainable energy sources. The partnership will create a digital twin of FuelCell Energy’s technology, paving the way toward more efficient and cost-effective solutions.

Its participation in a pioneering project with EDF Energy reinforces its appeal. The Bay Hydrogen Hub consortium, backed by a £6.1 million ($7.4 million) investment from the UK government, is focused on decarbonizing asphalt production using FuelCell Energy’s solid oxide electrolyzer cell (SOEC) technology. This not only demonstrates their commitment to green energy but also positions them as a leader in the race for hydrogen-based solutions.

Jason Few, President and CEO of FuelCell Energy, is optimistic about their solid oxide electrolysis systems, especially when combined with nuclear-generated heat. This collaboration aims to produce hydrogen more cost-effectively, contributing to the broader goal of reducing carbon emissions in the asphalt industry.

NET Power (NPWR)

a symbol with H2 (hydrogen) on it and a fill-up tank
Source: Alexander Kirch /

NET Power (NYSE:NPWR) promises clean, affordable, and reliable energy solutions. Considered an essential hydrogen stock for savvy investors, this company focuses on generating near-zero emissions, aligning with the global push for sustainable energy alternatives.

In the third quarter of 2023, despite a slight decline in cash of about ($3 million), they maintained a strong financial position, underscored by a solid balance sheet with $645 million in cash and short-term investments.

This decrease is attributed to crucial capital expenditures, including upgrades at the La Porte facility and ongoing activities for the Permian Project, indicating the company’s commitment to innovation and growth.

A noteworthy development is its recent collaboration with Lummus Technology, marked by a Strategic Supply Agreement. This partnership aims to design and supply recuperative heat exchangers (HXR), key components in NET Power’s power generation process.

Lummus, as an authorized HXR supplier, plans to leverage its global supply chain network to increase manufacturing capacity, supporting NET Power’s global deployments and contributing to global energy and environmental goals.

The successful business combination with Rice Acquisition Corp has transformed NET Power into NET Power Inc.

Ballard Power (BLDP)

A 3D illustration of hydrogen molecules.

Ballard Power Systems (NASDAQ:BLDP) is attracting the attention of savvy investors because it is not standing idly by, but actively forging the future.

Recently, they received the go-ahead from Canadian Pacific Kansas City (CPKC) to supply 2.4 MW of fuel cell engines for their hydrogen locomotives in Alberta.

This initiative, funded partly by Alberta’s Emissions Reduction program, is a major step toward cleaner rail transportation. And it’s not the first time they’ve collaborated with CPKC – they’ve supplied 38 fuel cell engines in the past two years, generating a whopping 7.6 MW of power.

But that’s not all. BLDP is also making waves in Europe, partnering with Solaris Bus & Coach to power buses in Germany and Poland.

They have won orders for 62 hydrogen fuel cell engines, contributing to the green transformation of public transport. With more than 140 fuel cell buses already on European streets, it is clear that they want to drive the change.

If we take a look at their financials, we find assets worth $908.1 million as of September 30, 2023. That’s like having a solid shield to take on big projects and fulfill those green dreams. It also makes it one of those hydrogen stocks to buy.

As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines (no position)

Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.

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