LONDON An unprecedented rally in “green” hydrogen stocks looks set to extend as investors flock to companies which promise to produce the gas without using…
Why investors are snapping up hydrogen stocks
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FILE PHOTO: A Hyundai Motor s Nexo hydrogen car is fuelled at a hydrogen station in Seoul, South Korea, August 13, 2019. REUTERS/Kim Hong-Ji
(REUTERS)
Thyagaraju Adinarayan,
, Reuters
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 US President-elect Joe Biden s support for clean energy
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LONDON :
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.
Published: 20 Jan 2021, 13:37
By:
Andy Colthorpe
UK-based energy storage system integrator and project developer Zenobe Energy was the third biggest recipient of VC funding in the battery storage sector during 2020 overall, according to Mercom. Image: Zenobe Energy.
The amount of corporate funding coming into the global battery storage industry in 2020 was more than double the amount the previous year, with over US$6.5 billion raised last year compared to around US$2.8 billion in 2019.
The findings come from Mercom, which produces quarterly reports on corporate and venture capital (VC) funding activities in battery storage alongside the smart grid and energy efficiency sectors. The company also produces separate reports for the solar energy industry. The latest edition of the report rounds up disclosed activities which Mercom tracked over the whole of 2020.