Insights

A closer look at how ASX hydrogen shares are faring in 2021?

Hydrogen: how it started, how it’s going…
The post A closer look at how ASX hydrogen shares are faring in 2021? appeared first on The Motley Fool Australia. –

The ambition for leveraging hydrogen as an alternative energy source remains strong, despite waning enthusiasm in ASX-listed hydrogen shares in recent months.

More recently, Australian governments have committed capital towards a low-carbon future. The New South Wales government is one such example, having already put $70 million towards a hydrogen hub in its Hunter and Illawarra regions.

Last month, multinational energy company BP highlighted a study that indicated the potential for scaled-up green hydrogen in Western Australia. According to the study, the production of green hydrogen and green ammonia using renewable energy at scale in Australia had been deemed technically feasible.

Considering the emerging fundamentals for the energy alternative, now seems like a good time to revisit and review some ASX hydrogen shares.

Catching up on ASX hydrogen shares

Hazer Group Ltd (ASX: HZR)

In the first couple of months of 2021, Hazer Group soared roughly 130% to $1.88 on the back of widespread hydrogen energy excitement. However, shares in the ASX hydrogen player have fallen to the wayside since then. At the time of writing, the Hazer share price is fetching $1.08 and is up 36% year-to-date (YTD).

The small-cap company is making an effort to commercialise a low-emission hydrogen and graphite production method. Currently, the construction of its plant at Water Corporation’s Woodman Point Water Recovery Facility in Western Australia is in progress.

Interestingly, shares in the company entered a trading halt this morning as it seeks to raise $7 million in capital. This is despite its balance sheet comprising of $24.64 million in cash and cash equivalents at the end of the FY21 financial year.

Santos Ltd (ASX: STO)

Although not your typical hydrogen share, Santos is worth a mention. The oil and gas giant — which is attempting to merge with Oil Search Ltd (ASX: OSH) — has shared its interests in hydrogen in the past. In July, the $12.6 billion company revealed it had commenced a concept study on a hydrogen future for the Cooper Basin.

Additionally, CEO Kevin Gallagher has indicated that a successful merger would enable the company to fund its clean energy ventures. These potential ventures could include hydrogen projects at Moomba and Darwin, as part of its 2040 net-zero emissions target.

The Santos share price has fallen 5.8% so far in 2021. It appears investors have been grappling with the Oil Search merger, along with a recent emissions lawsuit.

Province Resources Ltd (ASX: PRL)

Next on the list, Province Resouces is most definitely the highest flyer on this ASX hydrogen share recap. The company is boldly striving to be Australia’s first truly zero-carbon green hydrogen project. This mission has gained strong backing from investors, sending the share price 1,400% higher YTD.

In order to achieve this goal, Province is working on its HyEnergy Zero Carbon Hydrogen Project in the Gascoyne Region. Currently, the $175 million company is plodding along with its scoping study. At the same time, the upcoming hydrogen player has been conducting production price modelling for optimising its initial development.

Another promising sign, the company mentioned in August that it was in discussions with domestic offtake partners. These partners are in the transport and utility sectors. Additionally, Province Resources will be expanding discussions to potential international partners.

The post A closer look at how ASX hydrogen shares are faring in 2021? appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Why is the Hazer (ASX:HZR) share price frozen?
What is the future for the Santos (ASX:STO) share price?
Santos (ASX:STO) share price slides despite latest clean energy spruik
5 things to watch on the ASX 200 on Wednesday

ASX 200 energy shares fell today – here’s why

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!