Top Companies with the Biggest Hydrogen Stocks Today

Hydrogen, Earth’s abundant colorless gas, holds potential as a carbon emissions-free alternative to fossil fuels, applicable in sectors like transportation and industrial processes. With rising demand and government support, the global hydrogen market is expanding rapidly, projected to reach US$433.9 billion by 2032.

While most hydrogen production relies on fossil fuels, efforts toward green hydrogen, produced using renewable energy, are underway. The Investing News Network identifies top hydrogen stocks across US, Canadian, and Australian exchanges, spanning production, technology, vehicles, and infrastructure.

Here are the top companies with the biggest Hydrogen stocks today:

Air Products & Chemicals

Air Products & Chemicals was founded in the 1940s and specializes in industrial gases and chemicals, offering equipment and expertise to various sectors such as refining, manufacturing, electronics, metals, and food and beverage. Alongside producing argon, helium, nitrogen, and oxygen, the company manages over 100 hydrogen plants and operates the world’s largest hydrogen distribution network. With a diverse range of hydrogen-dispensing technologies, Air Products has spearheaded over 250 hydrogen-fueling projects worldwide. Committed to green hydrogen, the company has earmarked a substantial investment of US$7 billion to bolster the global supply of buses and trucks by 2025.

Ballard Power Systems

Ballard Power Systems works with hydrogen fuel cell technology, and they’re committed to accelerating its widespread adoption. Specializing in PEM fuel cell products, the company extracts electrical energy from the fusion of hydrogen and air. Ballard’s 200-kilowatt fuel cell modules are key components in the world’s first hydrogen-powered ferry operated by Norled. Moreover, Ballard supplies hydrogen fuel cell modules to First Mode, a leader in carbon reduction, for integration into hybrid hydrogen and battery-powered ultra-class mining haul trucks. This underscores Ballard’s pivotal role in advancing sustainable solutions across various industries.

First Hydrogen

First Hydrogen specializes in creating zero-emission vehicles and has expanded into green hydrogen production with its division, First Hydrogen Energy, established in the first quarter of 2022. Securing development sites in the UK and Canada for green hydrogen projects, the company is actively proving the commercial feasibility of its hydrogen fuel cell technology throughout 2023. Notably, it organized a demonstration day in the UK, exhibiting its hydrogen-fuel-cell-powered vehicles and attracting major European and UK companies across fleet management sectors such as parcel delivery, supermarkets, healthcare, utilities, and mining.

Hazer Group

Hazer Group, a technology development company, is committed to bringing the HAZER Process to market, initially conceived at the University of Western Australia. This groundbreaking process facilitates low-emission production of both hydrogen and graphite. By employing iron ore as a catalyst, it converts natural gas and similar sources into hydrogen for industrial and fuel cell applications, alongside producing premium synthetic graphite for lithium-ion batteries. As of October, Hazer’s commercial demonstration plant is on track to enter its second operational phase in the latter part of 2023, emphasizing the production of hydrogen and graphitic carbon.


Linde, a prominent global industrial gases and engineering firm, boasts a century-long legacy in hydrogen production, distinguished for its innovative methods. Engaged in the complete hydrogen value chain, Linde excels in production, processing, distribution, and storage, cementing its pivotal role in the sector. Additionally, Linde’s gases find applications across diverse industrial and consumer sectors. With a presence in over 500 hydrogen production sites worldwide, Linde, through its joint venture ITM Linde Electrolysis, is a significant contributor to green hydrogen, utilizing cutting-edge proton exchange membrane (PEM) electrolyzer technologies.

Frequently Asked Questions About Hydrogen Investing

Who holds the top position in hydrogen energy?

Currently, the US takes the lead in green hydrogen production globally, with Germany and Canada following closely behind. However, by 2030, Australia is projected to emerge as the frontrunner in hydrogen energy, trailed by the US and Spain.

Why is Toyota embracing hydrogen?

Toyota initially delved into hydrogen fuel cell technology back in 1992, recognizing clean energy as the future of transportation. However, with electric vehicles (EVs) dominating the clean car sector, the automaker began adjusting its strategy to remain competitive. Presently, Toyota is gearing up to introduce its latest hydrogen-powered vehicle to the market in the fall of 2023. Reports suggest that the company is likely to prioritize commercial vehicles over passenger vehicles for its hydrogen models moving forward.

Which is superior: Electric Vehicles (EVs) or hydrogen?

Research from TWI Global outlines the advantages and drawbacks of both electric vehicles (EVs) and hydrogen vehicles. Hydrogen surpasses electric vehicles in terms of range and charging time. However, despite the shorter refueling time required for hydrogen-powered vehicles compared to EVs, the availability of EV charging infrastructure far outweighs that of hydrogen fueling stations. Moreover, EVs are generally more affordable to purchase than hydrogen vehicles. Concerning safety and emissions, the comparison between the two remains balanced.

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