The 3 Smartest Hydrogen Stocks to Buy with $100 Right Now

Stocks to buy

Hydrogen might be the future of how our society consumes energy. It has a high potential to decarbonize numerous sectors. So, for this reason, many investors are optimistic about investing in hydrogen companies. As the world continuous its push for increased sustainability, hydrogen has become an attractive alternative. The hydrogen industry has a solid 9.2% compound annual growth rate predicted until 2030, with the potential for faster growth in the following years. 

In fact, hydrogen boasts the highest energy per mass compared to any other fuel source. Therefore, harnessing the power of hydrogen more efficiently and sustainably could be extremely beneficial. Currently, most of its uses are only industrial, though potential for change is likely. According to McKinsey, by 2050 only 15% of hydrogen will be used for industrial purposes, with the rest serving as an efficient and sustainable energy source.

Considering all the benefits and the potential, let’s explore the three smartest hydrogen stocks to buy right now.

Plug Power (PLUG)

Mobile phone with logo of American hydrogen fuel cell company Plug Power Inc. in front of business website. Focus on center of phone display. Unmodified photo. PLUG stock

Source: T. Schneider / Shutterstock.com

Plug Power (NASDAQ:PLUG) is an American hydrogen powerhouse. It specializes in hydrogen fuel cell systems that replace conventional batteries powered by electricity.

Plug Power is essentially the pioneer in bringing a commercialized hydrogen market in the country. Furthermore, the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations. This makes Plug Power the company with the largest fuel cell infrastructure while it is also the world’s largest buyer of liquid hydrogen. 

Earlier in 2024, Plug Power built the largest U.S. liquid green hydrogen plant in Georgia, which has been helping the company cut down its cost massively. 

Recently, PLUG has acquired a major customer from Europe. According to the announcement, Plug Power will provide 25 megawatts (MW) of proton exchange membrane electrolyzer systems for this project. Furthermore, Plug Power still has the 1.66 billion conditional loan guarantee from the U.S. Department of Energy for hydrogen systems and infrastructure development. For all these reasons, the future of Plug Power seems extremely bright.

FuelCell (FCEL)

Person holding cellphone with logo of US fuel cell company FuelCell Energy Inc. (FCEL) on screen in front of business webpage. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

FuelCell Energy (NASDAQ:FCEL) is a Connecticut-based hydrogen production company. Globally, it has more than 100 fuel cell plants in active operation. Its plants have produced well over 15 million megawatt hours (MWh) cumulatively as of July 2024. 

One of the biggest positives about FuelCell is its growing partnerships internationally. On May 29, 2024, FuelCell sealed a long term contract with Gyeonggi Green Energy, a Korean based company owning the largest fuel cell power platform worldwide. The Korean green powerhouse agreed to purchase 42 1.4 MW fuel cell modules, which is expected to bring in over $160 million in revenue for FuelCell.

Last week, FuelCell announced another partnership, this time with the University of Connecticut. The two parties have decided that FuelCell will provide its fuel cell technology to be used on UConn’s campus and some of its buildings. Before it’s too late, investors should buy FuelCell as soon as possible. 

Bloom Energy

BE stock Bloom Energy logo on a building

Source: Sundry Photography / Shutterstock

Bloom Energy (NYSE:BE) is a California-based hydrogen company that started back in 2001. The company is known for its solid oxide fuel cell technology, which essentially converts various types of energy like hydrogen into electric energy. 

When Bloom Energy made its debut to the public, it had raised over $1.7 billion in capital in its IPO in 2018. This signaled that the company was ready to build a sustainable financial growth. 

Recently, Bloom Energy has been exploring opportunities in the field of artificial intelligence (AI). Currently, the data centers are purchasing large quantities of AI chips, and by the nature of this process, their electricity consumption has jumped massively. Using this as a massive opportunity to explore, BE can provide the high electricity demand in the data centers using Bloom Energy Server.

With all the infrastructure and systems of the company, investors should only feel so optimistic about Bloom Energy taking advantage of the new opportunity. Therefore, consider making an investment in BE stock.

On the date of publication, Andy Kim did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Andy is a self-taught investor who is interested in ESG and socially responsible investing. He has managed the portfolio of a small investment fund and started his own research firm. Through his freelance writing on InvestorPlace, he hopes to find and share promising investments in companies with the goal of bettering the world.

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