APD - 2 Hydrogen Stocks To Watch In Late-April 2024
2024-04-25 10:05:42 ET
The hydrogen sector is gaining traction as a key player in the transition to clean energy. Hydrogen, particularly green hydrogen produced from renewable energy sources, offers a potential solution for decarbonizing industries that are hard to electrify, such as transportation, chemicals, and steel. This emerging sector presents investors. With opportunities in companies focused on hydrogen production, storage, and fuel cell technology. Which are essential for using hydrogen as an energy carrier.
Investing in hydrogen stocks comes with significant potential benefits and risks. On the positive side, the push for cleaner energy solutions and government incentives could drive substantial growth in the hydrogen market, benefiting companies within the sector. However, the hydrogen industry is still in its developmental stages, with high costs and technological challenges remaining as substantial barriers. Additionally, the sector’s growth is highly dependent on policy support and the broader adoption of hydrogen technologies, which adds layers of uncertainty for investors.
Overall, while the hydrogen sector presents exciting prospects for future growth driven by environmental policies and advancements in technology, it also requires investors to consider the inherent risks and volatility associated with a nascent market. This makes it important for investors to conduct thorough research and consider their long-term investment strategy when engaging with hydrogen stocks. If this has you keen on investing in the hydrogen sector, here are two blue-chip hydrogen stocks to watch in the stock market today.
Hydrogen Stocks To Buy [Or Sell] Right Now
- Linde plc ( NASDAQ: LIN )
- Air Products and Chemicals Inc. ( NYSE: APD )
Linde plc (LIN Stock)
To initiate, Linde plc (LIN) is a global industrial gases and engineering company. Linde produces and distributes atmospheric gases such as oxygen, nitrogen, and argon. Along with process gases like hydrogen and carbon dioxide for various industries. This includes healthcare, petroleum refining, and manufacturing.
This month, Linde plc announced a new project by its subsidiary White Martins to expand green hydrogen production in Brazil. The new five-megawatt electrolyzer, located in Jacareí, São Paulo, will use renewable energy to produce certified green hydrogen. Set to start in 2025, it will supply hydrogen to Cebrace for reducing emissions and meet other industrial demands.
Looking at the last six months of trading, shares of LIN stock have increased by 21.56%. Moreover, on Thursday morning, Linde stock opened modestly lower by 0.35%, currently trading at $442.74 a share.
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Air Products and Chemicals (APD Stock)
Next up, Air Products and Chemicals Inc. (APD) is a U.S. industrial gases company. The company specializes in the production of atmospheric gases, process gases, and specialty gases used across a wide range of industries. For example, refining, chemical, metals, electronics, and manufacturing. Additionally, Air Products is also at the forefront of the hydrogen energy sector. The company develops technologies to produce and distribute hydrogen for clean energy applications and fuel cell vehicles.
This week, Air Products announced plans to establish a network of commercial-scale multi-modal hydrogen refueling stations between Edmonton and Calgary, Alberta. The initiative, supported by Canadian government grants, aims to develop a “hydrogen highway” to facilitate the adoption of hydrogen-powered vehicles in Western Canada. Scheduled to start operations in 2025, this network will cater to both heavy-duty and light-duty vehicles, enhancing access to clean energy alternatives along one of the busiest corridors in Alberta.
In the last six months, shares of APD stock have fallen by 14.53%. Meanwhile, on Thursday morning, Air Products and Chemical’s stock opened down by 0.27%, currently trading at $234.29 a share.
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