Hydrogen stocks are becoming popular as the demand for clean energy increases. Hydrogen is a clean and sustainable energy source. The energy source can be used in various industries such as transportation and industrial processes. Companies leading the hydrogen industry include traditional energy companies investing in hydrogen production and distribution. Also, companies specializing in hydrogen fuel cell technology. Major players include Toyota, Hyundai, and Ballard Power Systems.
Investing in hydrogen stocks can provide exposure to the growing sector. But it is important to remember that it carries risks and rewards. The technology is still in its early stages. With that, it is unclear which companies will be successful in scaling and commercializing their products. The market is also highly competitive and it is not clear which companies will capture the largest share.
Despite these risks, many experts believe hydrogen has the potential to be a major player in the energy market in the coming years. As governments set targets for reducing carbon emissions, the demand for clean energy sources like hydrogen will continue to grow. It’s important to keep tabs on the latest developments in the hydrogen industry. As well as the financial performance of companies active in this sector. Now knowing this, here are three hydrogen stocks to check out in the stock market today.
Hydrogen Stocks To Watch In 2023
- Ballard Power Systems Inc. (NASDAQ: BLDP)
- Plug Power Inc. (NASDAQ: PLUG)
- Bloom Energy Corporation (NYSE: BE)
Ballard Power Systems (BLDP Stock)
First, Ballard Power Systems (BLDP) is a Canadian company that specializes in hydrogen fuel cell technology. They design develop manufacture and sell proton exchange membrane (PEM) fuel cell products for a variety of applications. Most notably, material handling, backup power, buses, and cars. They are a leading player in the hydrogen industry and one of the major companies to keep an eye on if you are interested in investing in hydrogen stocks.
BLDP Recent Stock News
On Monday of this week, Ballard Power Systems announced it has appointed Mark Biznek as the new Chief Operating Officer. Mark brings with him a wealth of experience in operations, manufacturing, business development, and manufacturing engineering, having spent 30 years in the industry.
In the past decade, he held various leadership roles at Kohler Power Systems, including General Manager of Marine & Power Solutions, Vice President of Global Operations & Supply Chain, and Vice President of Operations & Engine Development. Mark’s appointment is effective immediately.
BLDP Stock Chart
Since the beginning of 2023, shares of BLDP have started to recover by 25.16%. Meanwhile, on Thursday, BLDP stock closed the day higher by 2.60% at $5.92 a share.
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Plug Power Inc. (PLUG Stock)
Second, Plug Power Inc. (PLUG) is a U.S based company. In brief, the company designs develop, manufactures, and sells hydrogen fuel cell systems for material handling and backup power. They are a well-known player in the hydrogen industry. Specifically, in the material handling market. Currently, the company has partnerships with several major companies. These include names such as Walmart, Home Depot, and Amazon for the deployment of their fuel cell systems. It’s worth noting that Plug Power is considered to be one of the biggest public hydrogen fuel cell companies in the world.
PLUG Recent Stock News
Today, Thursday, Plug Power announced they have opened a new 407,000-square-foot fuel cell manufacturing facility in Slingerlands, New York. The facility will boost the economy by creating more than 1,600 new jobs in the New York State Capital Region within the next five years.
The facility began manufacturing Plug’s GenDrive units in November 2022 and will be fully operational by March 2023, and will produce Plug’s entire fuel cell product line including GenDrive, Stationary, and ProGen. Plug’s investment in the new facility was supported by $45 million in Green Excelsior Jobs Tax Credits from Empire State Development, a $5 million grant from Albany County, and a $500,000 infrastructure grant from National Grid.
PLUG Stock Chart
Starting off the year, Plug Power stock has rebounded by 37.85% YTD. Meanwhile, as of Thursday’s closing bell, shares of PLUG stock closed the day up 3.58% at $16.79 a share.
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Bloom Energy (BE Stock)
Last but not least, Bloom Energy (BE) is a U.S based company that designs, develops, and manufactures solid-oxide fuel cell systems for on-site power generation. They offer a range of systems for different industries, such as data centers, hospitals, and universities. Bloom Energy is known for its proprietary technology called the “Bloom Box” which converts natural gas into electricity via a solid-oxide fuel cell, and it’s considered as one of the pioneers of the on-site power generation market.
BE Recent Stock News
On Monday this week, Bloom Energy announced it has partnered with Telam Partners, an advisory firm specialized in financing and market entry of energy, infrastructure, and technology projects, to expand its presence in Spain and Portugal.
The collaboration will focus on promoting and deploying Bloom Energy’s technologies, such as the Bloom Electrolyzer and Energy Servers, to meet the demand for efficient energy security and green hydrogen solutions for customers.
BE Stock Chart
Year-to-date, shares of BE stock have begun to bounce by 23.14% so far this year. While, on Thursday, BE stock closed the trading day green by 2.52% at $23.63 a share.
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