Investors who owned these hydrogen shares in September can pat themselves on the back.
The post These were the best performing ASX hydrogen shares of September appeared first on The Motley Fool Australia. –
September is a notoriously tough month for global markets but a number of ASX hydrogen shares have pushed through.
While the S&P/ASX 200 Index (ASX: XJO) fell 2.6% over the course of last month, some ASX hydrogen and hydrogen-adjacent shares managed to record decent gains.
So, without further ado, here were the top-performing ASX-listed companies working or looking to break into the hydrogen sector in September.
Top performing ASX hydrogen shares of September
Pure Hydrogen Corporation CDI (ASX: PH2)
The Pure Hydrogen share price bested those of its peers last month, gaining 14.2%. At the end of September, its shares were swapping hands for 24 cents apiece.
The gas and hydrogen producer released several updates last month, including its strategy to profit from hydrogen projects in Botswana.
The Pure Hydrogen share price gained 8.7% on the strategy’s release.
Origin Energy Ltd (ASX: ORG)
Origin Energy is a newcomer to the hydrogen scene. In fact, the energy producer and retailer is still in the testing phase of hydrogen production.
Origin’s feasibility study into producing hydrogen and ammonia in Tasmania using renewable energy is due to be completed in December.
The Origin share price gained 6.2% in September. It finished the month trading at $4.73.
Global Energy Ventures Ltd (ASX: GEV)
Another hydrogen-adjacent share topped the list of the best performers last month.
The Global Energy Ventures share price gained 5.4% over September, finishing the month trading at 7.8 cents.
The company is developing shipping solutions for natural gas and green hydrogen. It owns the world’s first large scale compressed hydrogen ship, allowing marine transportation of hydrogen.
The company’s stock was boosted last month when it received a renewable hydrogen energy grant from the Western Australian government. The grant will help fund a feasibility study into exporting green hydrogen.
Honourable mention for a not-quite ASX hydrogen share
Santos Ltd (ASX: STO)
An honourable mention goes to a company that’s still just looking to break into the hydrogen space.
Santos has flagged hydrogen as one of its potential future endeavours a number of times. Perhaps most recently, it’s come on the back of news of its merger with Oil Search Ltd (ASX: OSH).
As The Motley Fool Australia reported, the oil and gas producer’s CEO and managing director Kevin Gallagher commented that extra cash brought about by the merger might allow the companies to advance potential hydrogen initiatives.
The Santos share price gained a whopping 18.5% over the course of September.
The post These were the best performing ASX hydrogen shares of September appeared first on The Motley Fool Australia.
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Why did the Santos (ASX:STO) share price have such a great month in September?
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Motley Fool contributor Brooke Cooper 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.