Investors hit the gas on hydrogen producers
Falling costs boost element’s potential in broader transition away from fossil fuels
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Shares in some producers of hydrogen and manufacturers of fuel cells have soared to their highest levels in a decade, reflecting hopes that the colourless gas can replace fossil fuels in everything from trucks to homes.
Shares in London-listed ITM Power, which makes electrolysers to produce hydrogen, are up by more than 45 per cent this year to their highest level since 2007. Meanwhile, shares in Sweden’s Powercell have risen 28 per cent over the same period and 342 per cent over the past 12 months.
“After years of false dawns, investors are realising clean hydrogen and fuel cells have an important part to play in the energy transition, particularly heavy duty mobility and heavy industry,” said Adam Collins, an analyst at Liberum. [...]
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