10 Hydrogen Fuel Cell Stocks to Buy in 2024

by | Oct 6, 2022 | Green Investments

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The 10 hydrogen fuel cell stocks to buy in 2024 belong to green energy companies. Green energy from sustainable hydrogen production will play a vital role in the energy transition. Hydrogen fuel cells release clean emissions. However, the way we produce a vast majority of hydrogen today has to change before we can safely release it into the environment.

A bulk of the hydrogen we produce today is ‘grey hydrogen’ Grey hydrogen is hydrogen obtained from fossil fuels. On the other hand, green hydrogen is hydrogen produced from electricity from renewable energy. The electricity splits water molecules into hydrogen and oxygen. The splitting happens with the aid of a tool called an electrolyzer.

Schematic of a polymer electrolyte membrane electrolyzer


Companies that produce hydrogen the clean way are relatively new. But, they could have a bright future as an increasing number of investors today are focused on environmental and social issues of energy companies. In this article, we will learn about the best 10 hydrogen fuel cell stocks to buy in 2022 and what makes hydrogen so great for the environment.

10 Fuel Cell Hydrogen Stocks

1. Air Products and Chemicals Inc.

This company has recently started expanding into the world of green energy. In March, the company announced that it would build, own, and operate a green hydrogen-producing facility in Arizona, USA. The company produces and markets other products besides hydrogen. While it isn’t a pure-play green hydrogen producer, it is a stable company for anyone interested in green hydrogen tech.

2. Ballard Power Systems Inc.

Ballard Power is a fuel cell and clean energy company. They provide fuel cell solutions for buses, trucks, trains, and ships. The company has committed to achieving carbon neutrality by 2030. It believes that powering zero-emission fuel cell vehicles will positively change the lives of future generations.

Electric vehicles powered by Ballard fuel cells have now driven over 50 million kilometres. This distance is equivalent to circling the entire globe 1,250 times. The company first started off as a research company working on high-energy lithium batteries. Along its course, the company became interested in environmentally-clean energy systems. This led to the development of the company’s first fuel cells.

3. Fusion Fuel Green

Fusion Fuel Green is an Ireland-based green hydrogen company. It develops and sells solar-powered electrolyzers for the production of green hydrogen. The company also sells fuel from its own hydrogen farms through long-term purchase agreements.

Apart from hydrogen fuel cells, the company also has a long history of producing solar energy and developing photovoltaic technology.

4. FuelCell Energy

FuelCell Energy is a global leader in fuel cell technology. Their vision is to enable a world empowered by clean energy. Their customer turnkey solutions involve designing and installing a project and the long-term operation and maintenance of the fuel cell system. They have power plants across three continents and generate millions of megawatts of ultra-clean power.

5. Bloom Energy

Bloom Energy is a green energy company. Bloom has deployed its hydrogen fuel cells in hundreds of applications in healthcare, manufacturing, retailers, and more. They use hydrogen fuel cell technology to generate combustion-free, emissions-free, and carbon-free electricity from hydrogen. Their technology generates highly efficient power generation. They also design, produce and manufacture electrolyzers. The company prides itself on its highly efficient electrolyzers and some of the industry’s lowest costs.

The company has deployed around 1.5 GW worth of electrolyzers.

Apart from hydrogen, the company also engages in biogas production and carbon capture.

6. Ceres Power Holdings

Ceres Power is a UK-based fuel cell technology and engineering company. The company aims to tackle climate change and air pollution by playing a central role in the global transition to clean and affordable energy. The company was born at Imperial College, London. Besides hydrogen fuel cell technology, the company specializes in lithium batteries and electrochemistry expertise.

The company is currently making a meaningful contribution to 11 of the 17 Sustainable Development Goals of the UN.

7. AFC Energy

AFC Energy is the leading provider of hydrogen-alkaline fuel cell systems. It has one of the best performance and lowest operating costs in the industry. It is a UK-based renewable hydrogen fuel cell company. AFC Energy hydrogen fuel cells have found applications across industries ranging from mobility (EV charging) to maritime and construction.

8. Hyzon Motors

Hyzon Motors isn’t a pure-play hydrogen fuel cell company. It is a New York-based commercial vehicle company. However, the company produces zero-emissions, hydrogen-powered commercial vehicles with leading fuel cell technology. It aims to put more clean vehicles on roads faster. The company has offices in Australia, Asia, Europe, and North America. By 2022, it had deployed its vehicles on four continents.

9. Cummins Inc.

Cummins is a leader in power generation and associated products. In its business segment, ‘New Power’, the company uses hydrogen fuel cells to generate green energy. Cummins’ hydrogen technology finds beneficial applications in the oil and gas, marine, agriculture, construction, and mining industries. They market a range of hydrogen-related products for wide-scale adoption. In 2019, Cummins collaborated with Hyundai Motor Company to develop new and efficient hydrogen fuel cell technology.

10. Linde PLC

Linde is a Uk-based leading global industrial gases and engineering company. Its main business segment includes manufacturing and distributing atmospheric gases. In 2020, Line announced that it is all set to build the world’s first hydrogen refuelling station for passenger trains. Linde is working on manufacturing hydrogen-powered vehicles. It has also invested in wind energy farms and plants that convert water to hydrogen.


The 10 hydrogen fuel cell stocks to buy in 2024 mentioned above are highly profitable investments.

Hydrogen fuel cells are environmentally-friendly alternatives to conventional fossil fuels. The only direct by-product of their energy generation is water. Wide-scale adoption of hydrogen fuel cells could potentially reduce pollution and greenhouse gas emissions.

Free Hydrogen Molecules Against Blue Background Stock Photo

Hydrogen has the potential for near-zero greenhouse gas emissions. Its application in the stationary and transportation energy sectors is promising. Hydrogen fuel cell technology also promises to strengthen global energy security, conserve fuel, and diversify transportation energy options for a resilient world.

However, a few people are concerned that hydrogen fuel cells themselves have a detrimental impact on the environment. A few California Institute of Technology researchers have shown that hydrogen production releases emissions. These inevitable emissions could substantially damage the ozone layer. However, their research is not conclusive, and we need more information before we can implement hydrogen on a large scale.

Also Read: Hydrogen Energy: Advantages And Disadvantages


  • Dr. Emily Greenfield

    Dr. Emily Greenfield is a highly accomplished environmentalist with over 30 years of experience in writing, reviewing, and publishing content on various environmental topics. Hailing from the United States, she has dedicated her career to raising awareness about environmental issues and promoting sustainable practices.

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