Unlock High Returns With These 3 Leading Battery Stocks Picks


  • Let’s evaluate some environmentally-conscious stock picks. 
  • Solid Power (SLDP): Proudly supplying A-1 EV cells to BMW.
  • FREYR Battery (FREY): Secured a grant for renewable hydropower.
  • Honeywell (HON): Implements battery energy storage solutions.
Battery Stocks - Unlock High Returns With These 3 Leading Battery Stocks Picks

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Contributing to the care of the environment is everyone’s job, and when we talk about everyone, companies are included in this work. There are big players for their own growth and development, as well as for the care of the environment. Here are three leading battery stocks that are worth analyzing to add to your portfolio.

Solid Power (SLDP)

Smartphone with logo of American battery company Solid Power Inc. on screen in front of business website. Focus on center-left of phone display.
Source: T. Schneider / Shutterstock.com

Solid Power (NASDAQ:SLDP) is making waves in the world of solid-state battery technology. Not to mention that its recent financial results are attracting attention.

In Q3 2023, it grossed $6.4 million, up a hefty $3.6 million from the same period in 2022. Nine-month revenue reached $15.1 million, a strong increase of $7.5 million.

However, this growth was accompanied by higher operating expenses due to aggressive investments in product development and operational expansion. Operating loss for the third quarter of 2023 was $21.5 million, with a net loss of $15.1 million.

On the business front, Solid Power is proud to have delivered its first A-1 EV cells to BMW (OTCMKTS:BMWYY), marking a key step in the formal automotive qualification process.

The company is ramping up electrolyte production at SP2 and saying goodbye to production at SP1, showing its commitment to expand operations for potential partners. John Van Scoter, Solid Power CEO, John Van Scoter, expressed excitement about these accomplishments and the importance of A-1 EV cell deliveries.

In a notable leadership change, David Jansen, Chairman of the Board of Directors, will step down on September 1, 2023. John Stephens, Senior Independent Director, will take the reins.

Jansen’s departure follows his instrumental role in building teams, raising capital and fostering key partnerships, especially with BMW. Despite the change, Jansen is confident in Solid Power’s trajectory under the continued leadership of CEO John Van Scoter.

The transition period will include collaboration to ensure a smooth handover, and Solid Power appears well poised for future success and growth.

FREYR Battery (FREY)

Mobile phone with logo of Norwegian battery company Freyr AS (FREY) on screen in front of business website. Focus on left of phone display. Unmodified photo.
Source: T. Schneider / Shutterstock.com

Our next option in top battery stocks is FREYR Battery (NYSE:FREY), a leading company in clean, next-generation battery technology. From a financial standpoint, Q3 2023 saw a substantial improvement, with a net loss of $9.8 million, a significant improvement over the previous year. More importantly, it has $327.9 million in cash and no debt, giving a solid financial picture.

Looking ahead, FREYR is actively meeting its strategic objectives. The company is positioning itself strategically, from completing the U.S. relocation process to meet indexing requirements to maximizing real options, including potential partnerships.

The plan includes finalizing production line start-up packages and raising project-level capital for Giga America.

In a major victory, FREYR secured a €100 million grant from the EU Innovation Fund for its Giga Arctic project in Norway. This funding underscores the critical role batteries play in the energy transition.

Giga Arctic, a 29 GWh capacity facility, is set to revolutionize clean battery production using renewable hydropower.

On the management front, the strategic changes are intended to strengthen FREYR’s capabilities. Dr. Andreas Bentzen takes over as Chief Technology Officer, Ryuta Kawaguchi as Chief Strategy Officer and Mike Brose assumes a key role in overseeing activities at Mo i Rana. These changes underline FREYR’s commitment to innovation and sustainability.

Honeywell (HON)

Honeywell (HON) logo on front of glass building
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Honeywell International (NASDAQ:HON) is like the nerve center of multiple industries, and is attracting attention as one of the top battery stocks for your investment journey.

The company just reported stellar financial results, with sales of $9.2 billion and a 3% increase. Those aren’t just numbers on paper; its orders shot up 10% and backlog hit a record $31.4 billion. If that’s not success, I don’t know what is!

But wait, there’s more. In a smart move, Honeywell has snapped up Carrier Global Corporation’s  (NYSE:CARR) Global Access Solutions business for $4.95 billion. This is not just a business, but a strategic move.

With this acquisition, Honeywell aims to dominate the security solutions sector in the digital age, perfectly in line with its focus on automation, the future of aviation and the energy transition – basically, the favorite trends of the future.

The company is not only concerned about profit, but also about green initiatives. It has partnered with VIElectron to spread battery energy storage solutions (BESS), across six solar farms in the U.S. Virgin Islands. It’s not just about making money, it’s about making a difference. The BESSs will help meet 30% of the islands’ energy needs through renewable sources, making the world a little greener.

cAs 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 InvestorPlace.com 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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/12/unlock-high-returns-with-these-3-leading-battery-stocks-picks/.

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