Hydrogen has taken the ASX by storm in 2021, boosting shares involved with the energy source into the spotlight, and it was no different in November.
Last month brought plenty of news from hydrogen producers, researchers, and developers. But some hydrogen-focused ASX shares managed to outperform the crowd.
Here are the 5 stocks that outperformed their peers in November.
5 best-performing ASX hydrogen shares of November
A quick note; this list only contains companies with market capitalisations of more than $50 million.
Environmental Clean Technologies Ltd (ASX: ECT) – gained 211%
The Environmental Clean Technologies share price soared from just 1.7 cents at the end of October to 5.3 cents at the final close of November.
Over the month just been, the company purchased the site on which it plans to build its headline net-zero emission hydrogen refinery project.
It also established a $1.96 million research and development loan facility with InvestVictoria for financial year 2022.
Pure Hydrogen Corporation CDI (ASX: PH2) – gained 33%
Pure Hydrogen had a particularly busy month on the ASX.
First, it completed its purchase of a 24% stake in hydrogen-powered vehicle manufacturer H2X Global.
Together, the companies have established Pure X Mobility, which Pure Hydrogen later announced will be bringing 7 hydrogen fuel cell trucks to Australia to transport building waste in parts of South East Queensland.
The Pure Hydrogen share price ended October at 37 cents. As of 30 November, it was trading at 49.5 cents.
Fortescue Metals Group Limited (ASX: FMG) – gained 22%
While Fortescue Metals doesn’t seem like an obvious inclusion on this list, it squeezes in through its subsidiary Fortescue Future Industries (FFI).
FFI also announced it is converting a shipping vessel to run on green ammonia and is working to enable aviation to run on green hydrogen.
Additionally, it agreed to conduct studies with the Kingdom of Jordan and develop multiple green energy and hydrogen projects in Papua New Guinea.
Finally, chair of Fortescue Metals and FFI Andrew Forrest met with global leaders, while FFI CEO Julie Shuttleworth addressed them at COP26 last month.
The Fortescue Metals share price grew from $13.93 to $17.01 through November.
Sparc Technologies Ltd (ASX: SPN) – gained 16%
Sparc Technologies had a great month on the ASX despite not releasing any news to the market.
However, late in October, the company announced it is working with the University of Adelaide to create ‘ultra-green’ hydrogen.
Together the companies are aiming to produce hydrogen using just solar radiation, scrapping the use of electrolysers entirely.
After ending October trading at $1.32, the Sparc Technologies share price finished November at $1.54.
Lion Energy Ltd (ASX: LIO) and Province Resources Ltd (ASX: PRL) – flat
Finally, these two companies just make the list of top-performing ASX hydrogen shares. Coming in joint fifth place is Lion Energy and Province Resources.
Both companies’ share prices recorded no meaningful gain, or fall, for November.
However, if one was to be technical, Province Resources came out on top with a 0.5 cent gain. That’s compared to Lion Energy’s 0.1 cent fall.
Lion Energy ended the month trading at 7.7 cents, while Province Resource’s shares were swapping hands for 16 cents apiece.