These were the 5 worst performing ASX hydrogen shares of 2021

Not all ASX hydrogen stocks could be winners in 2021…

| More on:
Hydrogen bubble in green

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX hydrogen shares were the talk of the town in 2021 as many entities turned towards the element for low-emissions power.

However, not all companies involved in hydrogen saw their share price boom last year. In fact, some of the highest profile stocks leaning into the energy commodity saw their value tumble.

Here are 2021's biggest losers of the hydrogen space.

2021's worst performing ASX shares involved in hydrogen

For clarity, this list includes companies involved in hydrogen. Many find most of their business elsewhere.

Additionally, this list only includes companies with market capitalisations of more than $30 million and share prices of more than 5 cents.

AGL Energy Limited (ASX: AGL) – fell 47.2%

While AGL has its roots in coal-fired power, the company has been exploring hydrogen energy for a number of years.

It is a leader of the Hydrogen Energy Supply Chain Project, which aims to see hydrogen produced using coal from AGL's Loy Yang Mine delivered to Japan.

Additionally, the company announced a deal with Fortescue Future Industries (FFI) last month. The pair are looking into converting AGL's Liddell and Bayswater power stations into a facility capable of producing green hydrogen.

However, the recent agreement wasn't enough to boost AGL back into the green. The AGL share price tumbled over 2021, ending the year trading at $6.14.

SRJ Technologies Group PLC (ASX: SRJ) – tumbled 15.6%

SRJ Technologies is a specialised engineering company. In September, it partnered with Curtin University to produce hydrogen-compatible pipe technology.

The company might also find itself able to patent the resulting technology.

Over the course of 2021, the SRJ Technologies share price tumbled 15.6% to end the year at 43 cents.

Fortescue Metals Group Limited (ASX: FMG) – down 15.3%

We've already mentioned FFI, and now its parent company has made the list of 2021's worst performing ASX hydrogen shares.

Fortescue Metals is an iron ore producer. However, it also owns a renewable energy leg, FFI.

FFI has been making headways with hydrogen energy in 2021, but that hasn't been enough to boost the Fortescue Metals share price into the green.

The company's stock ended the year 15.3% lower, trading at $19.21.

TNG Limited (ASX: TNG) – fell 7.7%

TNG is a resource and mineral processing company and, last year, it branched into hydrogen.

It entered an agreement with Malaysian-based green energy company, AGV Energy & Technology to work to integrate vanadium redox flow batteries with AGV Energy's green hydrogen production technology.

The two companies entered a project development agreement to jointly build Australian hydrogen projects in September.

The TNG share price ended 2021 trading at 8 cents, 7.7% lower than it ended 2020.

Origin Energy Ltd (ASX: ORG) – up 11.5%

Finally, making the list of the worst performing ASX hydrogen shares of 2021 by the skin of its teeth, is Origin Energy.

The company is involved in hydrogen through a feasibility study it's conducting in Tasmania. There, it's evaluating the potential to produce green hydrogen which will then be turned into green ammonia and exported.

Last year, the Origin share price gained 11.5% to close at $5.24 on New Year's Eve.

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.

More on Energy Shares

A young man looks like he his thinking holding his hand to his chin and gazing off to the side amid a backdrop of hand drawn lightbulbs that are lit up on a chalkboard.
Energy Shares

How will falling electricity prices impact ASX energy shares like AGL?

Will Aussie energy stocks wither under these newly proposed electricity prices?

Read more »

Coal miner holding a giant coal rock in his hand making a circle with his hand, symbolising a rising share price.
Energy Shares

New Hope share price charges higher despite profit crunch and huge dividend cut

Weaker coal prices have hit this miner's profits and dividend hard.

Read more »

A smiling businessman in the city looks at his phone and punches the air in celebration of good news.
Energy Shares

This ASX uranium stock is racing 8% higher on big news

Investors are happy with the results of a scoping study.

Read more »

Worker inspecting oil and gas pipeline.
Energy Shares

Is Origin Energy stock 'worth more'?

Could this stock keep powering higher?

Read more »

A smiling woman puts fuel into her car at a petrol pump.
Energy Shares

This soaring ASX 200 oil stock is near all-time highs. Is it too late to buy?

The ASX 200 oil stock has surged 14% in six months, atop paying a record final dividend.

Read more »

A male oil and gas mechanic wearing a white hardhat walks along a steel platform above a series of gas pipes in a gas plant
Energy Shares

Woodside share price slips despite oil hitting 2024 highs

Woodside shares are falling despite oil setting a new 2024 record.

Read more »

An oil worker assesses productivity at an oil rig as ASX 200 energy shares continue to rise
Energy Shares

At $29, I think the Woodside share price could be 20% undervalued!

Woodside shares have come under pressure amid falling energy prices.

Read more »

Copal miner standing in front of coal.
Energy Shares

Is this ASX 200 stock a shrewd buy ahead of the upcoming half-year result?

Is this an opportunity worth digging into?

Read more »