In this article, we will discuss: 11 Best Hydrogen Stocks to Invest in Now.
The hydrogen industry comprises several publicly traded businesses, including those specializing in fuel cell technology, hydrogen generation, and associated infrastructure.
The FTcase is a portable hydrogen refueling device measuring 21″ x 16″ x 11.7″ and weighing less than 100 pounds. It was created by San Francisco-based Zero Emission Industries to fill the infrastructural gap for fuel cell automobiles. The FTcase serves as a mobile gas pump that allows recharging in areas without fixed stations by transferring hydrogen straight from supply tankers into automobiles or watercraft. The Honda CR-V e:FCEV was the first hydrogen-powered car to compete in the 2025 Broadmoor Pikes Peak International Hill Climb on June 22, showcasing the technology.
The FTcase, located in the pit area, will enable speedy refueling by connecting a nozzle and activating a few buttons. Dr. Joe Pratt, CEO of ZEI, stated:
“It eliminates the need for built-in infrastructure and lets you access hydrogen for your vehicle or boat anywhere you need it.”
James Nazarian, Large Project Leader Commercial Motorsports, Honda Racing Corporation U.S.A, acknowledged that the FTcase was crucial to the team’s ability to compete at Pikes Peak.
With that said, here are the 11 Best Hydrogen Stocks to Invest in Now.
Photo by Tommy Krombacher on Unsplash
Our Methodology
We sifted through the ETFs’ online rankings to form an initial list of the 20 Best Hydrogen Stocks. From the resultant dataset, we chose 11 stocks with the highest number of hedge fund investors, using Insider Monkey’s database of 1000 hedge funds in Q1 2025 to gauge hedge fund sentiment for stocks.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
11. Westport Fuel Systems Inc. (NASDAQ:WPRT)
Number of Hedge Fund Holders: 2
Westport Fuel Systems Inc. (NASDAQ:WPRT) has successfully sold its Light-Duty Segment for $79.5 million to Heliaca Investments, a Netherlands-based company that is fully controlled by Ramphastos Investments. The purchase, which was first announced on March 31, 2025, includes Westport Fuel Systems Italia S.r.l. and covers Light-Duty OEM, delayed OEM, and aftermarket operations. Performance milestones might result in earnouts of up to $3.9 million.
According to CEO Dan Sceli, the divestiture improves the balance sheet and refocuses attention on high-horsepower and heavy-duty applications that use LNG, CNG, and other fuel-agnostic systems. Westport Fuel Systems Inc. (NASDAQ:WPRT), a provider of low-emissions transportation systems for hydrogen, RNG, and natural gas, will put a focus on technological leadership, market expansion, and operational efficiency as part of its “New Westport” strategy. The corporation has started an internal process to optimize the financial gains from the sale. It is among the Best Hydrogen Stocks.
10. FuelCell Energy, Inc. (NASDAQ:FCEL)
Number of Hedge Fund Holders: 4
FuelCell Energy, Inc. (NASDAQ:FCEL) has reached a seven-year agreement with South Korea’s CGN-Yulchon Generation Co., Ltd. to supply eight carbonate fuel cell modules as well as operate and maintain four existing 2.5 MW units at CGN’s Gwangyang facility. The agreement involves an extension option and adds to FuelCell Energy, Inc. (NASDAQ:FCEL)’s backlog, which includes projects with Gyeonggi Green Energy and Noeul Green Energy.
The Gwangyang location runs 1.5 GW of conventional gas turbine capacity in along with four of FuelCell Energy, Inc. (NASDAQ:FCEL)’s 3000 Carbonate Fuel Cell Systems, which together generate 10 MW. The project will improve performance, prolong operational life, and help CGN achieve its decarbonization goals under South Korea’s Hydrogen Economy Roadmap.
FuelCell Energy, Inc. (NASDAQ:FCEL), the only producer of utility-scale electricity and steam for applications such as district heating and industrial operations, has had a dedicated Korean service staff since 2018, supporting over 100 MW of installed capacity. Its LTSA approach improves reliability for high-demand industries like data centers by guaranteeing round-the-clock monitoring, technical assistance, and preventative maintenance. It is one of the Best Hydrogen Stocks.
9. Ballard Power Systems Inc. (NASDAQ:BLDP)
Number of Hedge Fund Holders: 8
Ballard Power Systems Inc. (NASDAQ:BLDP) has announced a strategy realignment under new President and CEO Marty Neese with the goal of strengthening commercial focus and achieving positive cash flow by the end of 2027. The strategy calls for tighter portfolio integration, staff modifications, and a 30% decrease in yearly operating expenses in 2026 compared to H1 2025.
The change is the result of an evaluation of market conditions and Ballard Power Systems Inc. (NASDAQ:BLDP)’s capabilities, with a focus on near-term prospects where its PEM fuel cell technologies have shown market fit. Priorities include focusing on high-traction fuel cell solutions, terminating non-core programs, expediting next-generation stack preparation, and raising gross margins through cost-cutting and value-based pricing.
Ballard Power Systems Inc. (NASDAQ:BLDP), backed by $550 million in cash as of June 30, 2025, will manage working capital, optimize inventory, and restrict capital expenditures. Neese focused on developing an economically viable corporation based on operational excellence, supplying mobility markets such as buses, trucks, trains, maritime, and stationary electricity. It is ranked ninth on our list of the Best Hydrogen Stocks.
8. Plug Power Inc. (NASDAQ:PLUG)
Number of Hedge Fund Holders: 13
Plug Power Inc. (NASDAQ: PLUG) and Allied Green Ammonia announced a new 2 GW electrolyzer agreement on June 9, 2025, for a $5.5 billion sustainable fuels project in Uzbekistan. The agreement was signed at the Tashkent International Investment Forum and extends the parties’ global partnership to 5 GW, with Australia committing to 3 GW.
Plug Power Inc. (NASDAQ:PLUG)’s electrolyzer technology will power the production of sustainable aviation fuel, green urea, and green diesel in Uzbekistan, with government support. The project is based on Allied Green’s green ammonia facility in Australia, which is expected to be finalized in Q4 2025. Plug Power Inc. (NASDAQ:PLUG), led by CEO Andy Marsh and President Sanjay Shrestha, is positioning itself as a global leader in integrated hydrogen solutions, with deployments on five continents. The company operates more than 72,000 fuel cell installations, 275 fueling stations, and hydrogen plants in Georgia, Tennessee, and Louisiana, producing 39 tons per day. It is among the Best Hydrogen Stocks.
7. Hyster-Yale, Inc. (NYSE:HY)
Number of Hedge Fund Holders: 24
Hyster-Yale, Inc. (NYSE:HY) announced on March 4, 2025, that its J230-400XD high-capacity electric forklift series can now handle loads ranging from 23,000 to 40,000 pounds and includes integrated lithium-ion power. The zero-emission vehicles, which can be configured up to 280kW with a 350-volt design, provide ICE-like performance and are CCS charging compatible for heavy-duty industries.
The J230-400XD series provides extended run periods without the expense of higher-voltage systems by offering a variety of battery sizes to match duty cycles. It can add around an hour of work from an 11-minute charge at 90 kW and supports load centers of 24, 36, and 48 inches. Standard features include regenerative braking to prolong charge intervals, ingress protection for adverse circumstances, and a battery management system to monitor health. The design has ergonomic cabins and visibility comparable to diesel versions.
Hyster-Yale, Inc. (NYSE:HY) is a multinational firm that focuses on cost-effectiveness, durability, and productivity. Its 130 lift truck models range in weight from 2,000 to 105,000 pounds. It is one of the Best Hydrogen Stocks.
6. New Jersey Resources Corporation (NYSE:NJR)
Number of Hedge Fund Holders: 29
The Center for Energy and Environmental Training (CEET) at Isles, Inc. and New Jersey Resources Corporation (NYSE:NJR)’s principal subsidiary, New Jersey Natural Gas (NJNG), have partnered to open the SAVEGREEN Innovation and Training Annex in Atlantic Highlands, N.J. The building will serve as the focus for NJNG’s expanded Workforce Development Program, which will include free* Building Performance Institute (BPI) certification training.
The initiative targets new and underemployed individuals, particularly in overloaded towns, as the demand for energy-efficiency projects is expected to surge by more than 35% in just two years. Training prepares participants for jobs in home energy diagnostics, modeling, and inspection by covering Building Science Principles, Building Analyst Technician, and Building Analyst Professional certifications. The state’s first Anesi gas heat pump and high-efficiency natural gas equipment are available for practical training in the annex. New Jersey Resources Corporation (NYSE:NJR)’s NJNG’s SAVEGREEN program, which began in 2009, has assisted over 100,000 customers in implementing energy-efficient solutions. Therefore, it integrates economic growth goals with emissions reduction and sustainable community building. It is ranked sixth on our list of the Best Hydrogen Stocks.
5. Bloom Energy Corporation (NYSE:BE)
Number of Hedge Fund Holders: 44
Roth Capital increased its price target for Bloom Energy Corporation (NYSE:BE) from $25 to $34 on August 1 while keeping its rating at Neutral following the firm’s Q2 earnings beat. According to analyst Chip Moore, the firm’s patented solid oxide technology platform and its capacity to quickly implement solutions in regions with growing grid constraints have allowed it to dominate the hydrogen fuel cell market.
Bloom Energy Corporation (NYSE:BE) is positioned as an important player in the energy transformation, providing customers with scalable, sustainable power solutions. Roth Capital’s view shows faith in its proven technology and its long-term ability to assist in decarbonization initiatives.
Based on Moore’s statement, Bloom Energy Corporation (NYSE:BE)’s solid oxide platform is strategically relevant as energy infrastructure experiences increasing strain since it can be used for both stationary power generation and integration into changing hydrogen ecosystems. The revised target comes after stronger-than-expected quarterly results, even though Roth Capital’s Neutral attitude reflects a balanced assessment of valuation at present share levels. It is among the Best Hydrogen Stocks.
4. BP p.l.c. (NYSE:BP)
Number of Hedge Fund Holders: 51
According to three Petrobras insiders who spoke to Reuters, BP p.l.c. (NYSE:BP) and Petrobras’ possible collaboration to develop BP p.l.c. (NYSE:BP)’s Bumerangue block oil and gas discovery in Brazil’s pre-salt layer depends on reservoir CO₂ levels. Murray Auchincloss, the CEO of BP, recently announced that the business is looking for a partner for what it describes as its biggest worldwide find in 25 years. Concerns about economic viability were raised when BP p.l.c. (NYSE:BP) discovered “elevated” CO₂ during a rig-site study. Early-stage technology is being developed by Petrobras to manage high-CO₂ deposits.
Brazil is a major oil producer due to its pre-salt deepwater reserves, but projects can be halted by high CO₂ levels; as a result, Petrobras’ enormous Jupiter field is still to be developed. Experts caution that too much CO₂ might render Bumerangue unprofitable, but Gordon Birrell, BP p.l.c. (NYSE:BP)’s production chief played down the worries. Petrobras has not been contacted by the firm, but sources anticipate data exchange in the future. Bumerangue was fully purchased by BP p.l.c. (NYSE:BP) in 2022, the two companies already collaborate on additional pre-salt blocks, including Alto de Cabo Frio Central. It is one of the Best Hydrogen Stocks.
3. Cummins Inc. (NYSE:CMI)
Number of Hedge Fund Holders: 53
Citi reiterated its Buy recommendation on August 6 and increased its price objective for Cummins Inc. (NYSE:CMI) from $380 to $425. Citi raised projections and highlighted the stock’s present price as appealing to investors in response to the company’s Q2 results, which preceded the increase.
Cummins Inc. (NYSE:CMI) reported a 2% drop in revenue during the second quarter but an excellent 18% increase in EBITDA. The company’s data center solutions displayed exceptional success, which helped to overcome a worsening forecast for its core truck business. Tariff consequences appear to be minor for the time being.
The firm has decades of experience and industry leadership in diesel engines, particularly for medium- and heavy-duty trucks. The business has expanded its skills in additional heavy vehicle components throughout time, including drivetrains, brakes, and emissions systems. Cummins Inc. (NYSE:CMI) produces engines and generators for a range of industries, and the quickly growing data center market is driving up demand for its products. It is among the Best Hydrogen Stocks.
2. Air Products and Chemicals, Inc. (NYSE:APD)
Number of Hedge Fund Holders: 60
Citi reiterated its Buy rating for Air Products and Chemicals, Inc. (NYSE:APD) and raised its price objective from $310 to $320 on June 30. The change is made in advance of the company’s Q2 results for Linde and Air Products and Chemicals, Inc. (NYSE:APD), noting improved foreign currency trends and efficiency gains. Citi’s positive outlook for the North America Industrial Gases group is reflected in the move.
Air Products and Chemicals, Inc. (NYSE:APD), a significant player in the industrial gases market, benefits from industry conditions that promote consistent returns. While industrial gases are commodity products, they are critical inputs to clients’ operations and account for just a small amount of total costs. Producers like Air Products and Chemicals, Inc. (NYSE:APD) can obtain long-term contracts and premium pricing because of this dynamic. Citi’s persistent positive attitude is supported by predictable cash flows and durability, which are facilitated by high switching costs and the crucial role these gases play in maintaining continuous production. It is ranked second on our list of the Best Hydrogen Stocks.
1. Linde plc (NASDAQ:LIN)
Number of Hedge Fund Holders: 75
Caliche Development Partners has put the world’s largest helium salt cavern into operation at its Golden Triangle Storage project in Beaumont, Texas. The industrial gases company Linde plc (NASDAQ:LIN) has signed a long-term contract with the cavern, which can store more than three billion cubic feet of helium, to supply storage services. This project is only the second helium storage cavern in the United States and the third in the world. Approximately 65 jobs were created by the construction project, and two full-time operational positions were established.
CEO Raymond Stevens stressed ACCG-2671’s potential as a distinct oral medication for obesity, citing growing data suggesting amylin receptor targeting. Poster #2184-LB described how ACCG-2671 works in combination with semaglutide to promote superior weight reduction and how strongly it binds to human CTR and AMY3R receptors. The benefit of GSBR-5595 in Parkinson’s models was noted in Poster #1985-LB, showing that GLP-1 receptor agonists may have multiple applications. These findings support Structure Therapeutics’ plan to provide injectable therapy substitutes with scalable oral small molecules. It is the Best Hydrogen Stock.
While we acknowledge the potential of LIN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LIN and that has 100x upside potential, check out our report about this cheapest AI stock.
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