Projected to reach nearly $258 billion by 2028, the hydrogen technology industry may be a new gold mine for investors. That’s because, unlike the volatile electric vehicle market, much of the hydrogen stock options still retain relatively low entry prices. As such, investors could see significant growth in the next five years should external factors continue to push the market towards clean alternatives to fossil fuels.

For investors looking to maximize returns by investing in hydrogen companies, their foremost concern should be the science behind products. Unlike other forms of clean energy, hydrogen’s applications are less well known, making it a potential diamond in the rough. As governments and industries research sustainable energy sources, the natural abundance of hydrogen could be the answer for a greener future.

These three currently sit among the best hydrogen stocks to buy due to a low entry price and significant upside potential.

BP (BP)

Once one of the greatest oil and gas companies, BP (NYSE:BP) has struggled in an era where petroleum’s days seem numbered. From a controversial oil spill to generally stagnant oil prices, BP’s stock has not seen significant growth for the better part of a decade. To overcome this poor performance and stagnation, BP has turned its sights on hydrogen as a potential future revenue source. The company currently leads in two major technologies to achieve this. 

First, it produces what is called “blue hydrogen,” which captures the carbon dioxide that occurs due to hydrogen production. This method decreases the carbon footprint of the production process, making it more sustainable. Second, BP’s investments in developing hydrogen refueling stations make it an early play in the world of hydrogen-powered cars. 

By owning and operating its own hydrogen refueling stations, BP can corner the market. With these genuine leaps in innovation, the stock’s current low price makes it a Moderate Buy.

Plug Power (PLUG)

Plug Power (NASDAQ:PLUG) currently leads the market in hydrogen fuel cell solutions, particularly in the material handling and transportation sectors. With a focus on smaller-scale hydrogen energy applications, Plug Power intends to reshape the market for smaller industrial vehicles. Thus, the company provides hydrogen as a cleaner and more efficient alternative to traditionally gas-powered forklifts and stationary power units.

That niche specialization puts PLUG stock in a position to capitalize on further technological developments in hydrogen-powered vehicles. Furthermore, PLUG partners with major warehousing companies like Amazon (NASDAQ:AMZN) and Home Depot (NYSE:HD) to develop its fuel cell offerings. For Plug Power, more partners and customers decrease the production costs of its fuel cells and increase profitability.

Thanks to its focus on becoming an integral part of shipping supply chains, Plug Power is primed for success. With this in mind, PLUG could be one of the best hydrogen stocks to buy for investors seeking substantial gains.

Bloom Energy (BE)

Though best known for its expertise in solid oxide fuels, Bloom Energy (NYSE:BE) has begun applying its energy research toward hydrogen. To differentiate its offerings in a growing hydrogen market, Bloom Energy’s main focus has been on hydrogen production. It mainly accomplishes this by developing what it calls the “Bloom Electrolyzer.”

Bloom’s proprietary electrolyzer currently outcompetes other hydrogen production methods in reliability and efficiency due to its unique design. By designing custom inks and ceramics for the electrochemical pathway that generates clean hydrogen, Bloom reduces production costs by 28%. That has resulted in Bloom’s hydrogen manufacturing capacity reaching two gigawatts, or enough energy to power 876,000 homes annually.

As Bloom forges on, applying its research in fuel production, it ranks among the best hydrogen stocks to buy. Therefore, investors would be wise to keep a close eye on hydrogen fuel applications if investing in BE.

On the date of publication, Viktor Zarev 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.