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February 28th, 2022 | 11:10 CET

Russia crisis: Plug Power, Nel ASA, First Hydrogen - Which hydrogen stock to buy now?

  • Hydrogen
  • GreenTech
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Buy when the guns are thundering! This stock market wisdom has worked many times before. This time, the chances for a discussion in favor of "alternative energy sources" are excellent because the Russian crisis shows Europe's staggering dependence on fossil fuel energy supply. One of the main suppliers has historically been Russia, and there are virtually no alternatives, especially for the critical natural gas. To avoid getting into a supply bottleneck, the possibilities for extended EU sanctions against Putin are thus also limited. However, the traffic light coalition is unanimous: The development in the direction of hydrogen must get going now to finally get Europe's climate strategy and energy turnaround on track! Here is an overview of the best-positioned titles!

time to read: 3 minutes | Author: André Will-Laudien
ISIN: PLUG POWER INC. DL-_01 | US72919P2020 , NEL ASA NK-_20 | NO0010081235 , First Hydrogen Corp. | CA32057N1042

Table of contents:

    Jim Payne, CEO, dynaCERT Inc.
    "[...] We are committed to stay as the number one Canadian and global leader in the Hydrogen-On-Demand diesel technology [...]" Jim Payne, CEO, dynaCERT Inc.

    Full interview


    Nel ASA - Good figures and chart technical double bottom

    That was fast! The Norwegian hydrogen company Nel ASA presented good figures for 2021 last week. However, the high investments continue to press on the profit. With sales of NOK 798 million after NOK 652 million, an operating loss (EBITDA) of NOK 475 million after NOK 252 million remains. Including all research expenses, the bottom line is a net loss of NOK 1.67 billion - the equivalent of EUR 168 million.

    However, Nel's order backlog is at a record level of NOK 1.23 billion at the end of 2021. While sales have turned out better than many experts expected, the sustained negative result is disappointing. Nel ASA has not yet formulated a concrete outlook for 2022.

    Nevertheless, the share price is also rising due to positive analyst opinions. The heavily battered title gained a full 30% from EUR 1.07 to an astonishing EUR 1.37 in just 48 hours. A huge gulp from the bottle, but the formation now resembles a double bottom and sends positive chart signals for the next trading weeks.

    First Hydrogen - One of the strongest stocks in the TSX Venture Index

    Listed for almost one year exactly, hydrogen specialist First Hydrogen (FHYD) is enjoying an award. The TSX Venture Index Commission is now recognizing companies for the strongest performance in revenue and performance on the TSX Venture Exchange over the past year 2021. The honor list comprises 10 companies from each of the five industry sectors and recognizes stock market performance based on market capitalization, share price and trading volume in a ranking. First Hydrogen is on it - that's what investors like to hear!

    CEO Balraj Mann comments, "We are very excited to be included in the TSX Venture 50 in 2022. First Hydrogen is developing rapidly after entering into strategic relationships with the world-renowned University of Cambridge to develop AI learning software. With Ballard Power Systems Inc. and AVL Powertrain UK Ltd., two commercial vehicles powered by hydrogen fuel cells will be developed. Together with FEV Consulting GmbH, we are jointly developing and building hydrogen refueling stations. Our alliances point the way to decarbonization and net-zero CO2 targets."

    The Company continues to expand its team of experts with the recent additions of Steve Gill, Robert Campbell and Nicholas Wrigley. The goal is to rapidly develop the automotive strategy and new opportunities such as hydrogen refueling stations and hydrogen-related technology. Overall, the Canadians' portfolio of operations currently harmonizes very well with industry and policy requirements.

    First Hydrogen shares enjoyed a super rebound last week. Starting from CAD 1.68, it went up to CAD 2.20. Almost 300,000 shares were traded daily on the German stock exchanges. Investor interest in H2 shares has returned impressively. Buy!

    Plug Power - Here, too, the positive voices are increasing

    There are many reasons for the positive mood in the sector. On the one hand, sentiment has improved after the outright sell-off in "GreenTech" shares. For another, green hydrogen could turn out to be the key to a climate-neutral energy supply and even develop into a market with a volume of more than USD 1 trillion per year.

    In a recent interview on CNBC, Goldman expert Michele DellaVigna speaks of the urgent need to rely on hydrogen: "If we want to move to net zero, we cannot do it through renewables alone. We need something to take over the role of natural gas today, especially to deal with seasonality and intermittency, and that is hydrogen." A nice plea for H2 technology, certainly a timely comment given the natural gas shortage due to the Ukraine conflict.

    Plug Power is a benchmark in the H2 sector. The Company repeatedly secures its pioneering role in the industry with numerous cooperations and acquisitions. These include a joint venture with the Spanish energy company Acciona, founded in November under the name "AccionaPlug". The joint project aims to provide green hydrogen for the Spanish and Portuguese markets.

    As part of the cooperation, business customers will also be able to use AccionaPlug's storage, transport and delivery services in the future. AccionaPlug aims to have hydrogen production plants located directly at its industrial customers. The first plants are expected to be operational in 2023. Plug Power stock is also very good at picking up the current momentum in the industry, improving 25% in the short term. The share price is thus back at the technical resistance line of EUR 20. Put the value back on the watchlist!

    The sails for the H2 sector are fully set again. There will still be high volatilities due to the current political upheavals. Therefore, no loud bells are being rung for either entry or exit. Those who invest now do so speculatively or with staying power. The big players have fallen sharply after the hype but are still ambitiously valued. The innovative First Hydrogen will have many surprises in store this year.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

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    Der Autor

    André Will-Laudien

    Born in Munich, he first studied economics and graduated in business administration at the Ludwig-Maximilians-University in 1995. As he was involved with the stock market at a very early stage, he now has more than 30 years of experience in the capital markets.

    About the author

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    Commented by Fabian Lorenz on April 16th, 2024 | 07:20 CEST

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    Not only is Plug Power's share price in the red, but also its earnings for the year 2023. Losses at the US company are still growing faster than revenue. Together with its struggling industry peer, Nel ASA, Plug is dragging down the entire hydrogen sector. However, there are positive developments. For example, the hydrogen-powered fuel cell commercial vehicle from First Hydrogen in England has impressed in test drives under real conditions. The Company is currently valued at only CAD 50 million and offers an entry opportunity. Analysts also see more than 100% upside potential for Thyssekrupp Nucera. Is the wheat separating from the chaff in the hydrogen sector?


    Commented by Armin Schulz on April 10th, 2024 | 07:30 CEST

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    With the development towards a clean and efficient logistics industry, hydrogen is gaining importance as a forward-looking energy carrier. Continuous innovations in fuel cell technology and storage systems are making it increasingly competitive. This technological progress, coupled with government incentives to expand the necessary infrastructure, is paving the way for widespread adaptation in the logistics sector. Pilot projects are already validating the practical suitability and paving the way for more extensive implementation in the logistics sector. Recently, there have been positive signals from the three hydrogen companies we are looking at today.