Hydrogen stocks4/3/2023 ![]() ZeroAvia, a hydrogen plane startup, last month secured $37.7 million in new cash via a funding round led by Bill Gates’ Breakthrough Energy Ventures and from the British government to support its bid to develop zero-emission aircraft. "The momentum just keeps going really with this theme," Ashim Paun, HSBC's global co-head of climate change and ESG research said on a webinar. That has fuelled the stocks of electrolyser makers Norway's Nel (NEL.OL) and UK's ITM Power (ITM.L). The European Union plans to scale up renewable hydrogen projects across polluting sectors ranging from chemicals to steel with cumulative investments in renewable hydrogen in the region seen reaching up to 470 billion euros ($570 billion) by 2050, the region's commission said. While a lot of focus has been on hydrogen's role in the automotive sector, its usage is growing far beyond that. "Hot money is flowing towards renewables and clean energy, and there's been a clear re-rating of valuations in the sector," said Emmanuel Cau, head of European equity strategy at Barclays. Plug Power (PLUG.O), Ceres Power (CWR.L) and Fuelcell Energy (FCEL.O), which make hydrogen fuel cell systems that power devices ranging from warehouse machines to cars, are leading that charge, jumping 400% to 1,600% in the last year. President-elect Joe Biden's support for clean energy. ![]() Share prices of companies in the industry have soared more than 500% in the past year, driven by the rising adoption of zero-emission vehicles, a deadline set by many countries to go carbon-free by 2050 and lately U.S. "Green" or clean hydrogen requires using electrolysis to split water into its components of hydrogen and oxygen and doing so cheaply is often described as the holy grail of green energy transition. It is mostly extracted from fossil fuels, emitting carbon dioxide in the process. Hydrogen is the universe's most abundant element. ![]() LONDON, Jan 20 (Reuters) - An unprecedented rally in "green" hydrogen stocks looks set to extend as investors flock to companies which promise to produce the gas without using fossil fuels, expecting the technology to scale up over the next 10 years to justify rocketing valuations.
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