Return Opportunities in Defence, Hydrogen and GreenTech: How Deutz, Nel ASA and MustGrow Biologics Are Gearing Up for a Breakout!

Deutz AG: The Long-Established Group on the Verge of a Defence Industry Move

Deutz AG is on the verge of the largest transformation in its corporate history. The Cologne-based engine manufacturer is making a strategic move into the defence industry. For approximately EUR 1.6 billion, Deutz is acquiring the Flensburg-based vehicle manufacturer FFG. The financing is to be structured through a EUR 1 billion bank loan component and a capital increase in kind. This would allow the current FFG owners to acquire up to 29.9% of Deutz and become new anchor shareholders. The decision now rests with the shareholders, who will vote at an extraordinary general meeting (EGM) on August 24, 2026.

Operationally, business in the core segment is noticeably strong. In the first half of 2026, revenue climbed 10.7% to EUR 1,115.3 million. EBIT even rose by 43.1% to EUR 79.7 million. Order intake grew significantly by 28.7% to just under EUR 1,331 million. Management remains confident. CEO Sebastian Schulte recently purchased approximately 100,000 shares personally for around EUR 983,000. Other members of the Executive Board and Supervisory Board also bought additional shares. From a technical analysis perspective, the stock is trading at around EUR 10.10 within a narrow consolidation range. If the share breaks above the EUR 11.00 mark, it could reach the EUR 15.00 to 16.00 range. On the downside, the EUR 9.00 to 9.50 zone provides key support, representing an attractive risk-reward ratio.

Nel ASA: Order Boom and Leadership Change

While Deutz is making waves with a full cash reserve and new business segments, a look toward Northern Europe at Nel reveals a different picture. The Norwegian hydrogen specialist saw second-quarter 2026 revenue decline by about 12% year-over-year to NOK 153 million. EBITDA remained in the red at minus NOK 155 million. The announced departure of CEO Hakon Volldal, who will leave the company by the end of the year, further unsettled investors.**

Nevertheless, there are also some signs of hope from the sales division, as order intake skyrocketed by 224% to NOK 230 million in the second quarter. This is primarily driven by demand for modular PEM container solutions and the new Alkaline series. As a result, the order backlog rose to NOK 1.213 billion. In addition, the European Union is supporting the company with up to EUR 135 million from the Innovation Fund. With cash and cash equivalents of approximately NOK 1.328 billion, Nel ASA has a certain cushion for the coming quarters. On the stock market, however, the share price is trading below EUR 0.20 in a long-term downtrend and is thus quite close to its all-time low. Caution is advised!

MustGrow Biologics: On the Verge of a Chart Breakout?

While Nel ASA is still struggling to achieve sustainable profitability in the hydrogen sector, an agritech company in Canada is looking to establish itself with tangible progress and an exciting chart pattern.

MustGrow Biologics is capitalizing on the global trend toward sustainable and organic agriculture. What sets it apart is that the Canadian company uses active ingredients derived from mustard seeds to develop organic crop protection, biofertility and soil amendment products.

At the core of its product lineup are the organic biofertility product TerraSante™ and the pre-registered biopesticide TerraMG™, which combats soil-borne diseases and nematodes. TerraSante™ is fully approved and organically certified in key US states, including California. For global distribution, management is pursuing a relatively low-risk model that uses contract manufacturers, avoiding significant capital investments of its own.

Commercial expansion is already taking tangible shape. Following initial commercial trials, MustGrow increased the area of application from 150 acres in 2024 to approximately 1,000 acres in 2025 and was completely sold out. By way of comparison: in the US market, the target segment for high-value crops such as strawberries, potatoes, and vegetables covers approximately 5.6 million acres.

A major milestone is the exclusive license and collaboration agreement with Bayer AG for Europe, the Middle East, and Africa (EMEA). On August 21, it was announced that MustGrow Biologics has received its first milestone payment from Bayer AG under the agreement signed in December 2023. The agreement covers soil applications of MustGrow's mustard-based biocontrol technologies in Europe, the Middle East and Africa. According to MustGrow's estimates, Bayer could invest an estimated USD 35 to 40 million over the next 5 to 7 years to advance the approval and commercialization of TerraMG™. If commercialization is successful, MustGrow could additionally benefit from royalties and manufacturing revenues.

MustGrow Biologics' chart is also currently fueling investor imagination, as the stock could now be gaining momentum. The shares also appear to be well supported on the downside by several horizontal support lines. The share price has now broken out of its multi-month downtrend and has already started moving higher. The latest news regarding the milestone payment from Bayer provided a significant boost. The share price opened with a gap up and is currently trading at around CAD 0.50. This puts it well above its recent low of around CAD 0.30. Now it could rise even further. If it manages to break above the CAD 0.50–0.60 range, the stock could, from a technical perspective, even reach the CAD 0.75–0.80 range in the longer term. That is also where a significant previous high lies. With a market capitalization of around CAD 30 million and a manageable number of shares, the groundwork for further growth could soon be laid.

Deutz AG stands out for its strong operational recovery and strategic transformation in the defence sector. Now all that is left is for shareholders to give the green light at the upcoming EGM.

Nel ASA remains a speculative turnaround candidate in the hydrogen sector that, despite a strong order backlog, has yet to achieve profitability.

MustGrow Biologics is proving to be a focused greentech stock with clear commercial scalability. The collaboration with industry giant Bayer, the fresh liquidity from the June financing round, and the well-founded product validation form a solid foundation. From a technical analysis perspective, the first phase of the breakout has already begun, and the stock appears well-supported on the downside.