As some jumped close to 70%, others dumped a quarter of their value.

And while all that was happening, the broader market stayed relatively flat. The benchmark All Ordinaries Index (ASX: XAO) fell just 1% over the three months ended 30 September.

So, what went on with some of the market's most notable ASX hydrogen shares in the September quarter? Let's take a look.

Peaks and troughs for ASX hydrogen shares in Q1

ASX hydrogen shares put on a mixed performance over the first quarter, with some, like Frontier Energy Ltd (ASX: FHE), posting major gains.

The Frontier Energy share price lifted 68% over the period, closing September at 37 cents.

The company worked to secure a water supply needed to produce green hydrogen using energy from its Western Australia-based Bristol Springs Solar Project.

Its agreement with Water Corporation – announced on Thursday – will save the company from kicking off its back-up plan – building a desalination facility.

The Province Resources Ltd (ASX: PRL) share price also had a great quarter, gaining 54% to trade at 8 cents.

The big news from the company behind the HyEnergy Project last quarter came in August when it announced it had secured an additional 2,217 square kilometres of land for the project.

The Pure Hydrogen Corporation Ltd (ASX: PH2) share price also had a good run in the September quarter, gaining 23% to close the period at 27 cents.

However, the quarter wasn't a good one for every major ASX hydrogen share.

The Hazer Group Ltd (ASX: HZR) share price dumped 25% over the period, slumping to trade at 57 cents.

The major drag on the stock was news a critical part of its demonstration plant had failed, delaying the company's planned hydrogen production until 2023. The stock fell 17% on the back of the news.

And while most of its income comes from non-hydrogen sources, the S&P/ASX 200 Index (ASX: XJO) iron ore giant behind hydrogen-focused Fortescue Future Industries, Fortescue Metals Group Limited (ASX: FMG), saw its share price fall 4% last quarter.

The post There were big winners and losers among ASX hydrogen shares in Q1. Here's the lowdown appeared first on The Motley Fool Australia.

At the time of writing, the minerals producer's shares are up 12.50% to 13.5 cents apiece.

Let's take a look at what the company announced to the ASX earlier today.

Why are Province Resources shares surging today?

Investors are rallying up the Province Resources share price as the company announced it has secured additional land.

According to the release, Province Resources advised it has been issued another section 91 licence from the Western Australian government.

This will see over 2,217 square kilometres of additional land granted to develop the Green Hydrogen project.

Province Resources and its joint development partner, Total Eren are pursuing to conduct studies to support feasibility activities.

In total, the area under licence now amounts to more than 3,000 square kilometres of land in the region.

Province Resources stated that negotiations are underway with the state government for enduring tenure over the project area.

Province CEO and managing director, David Frances commented:

The issue of these licences was only possible with the support of the Gascoyne community and we are delighted with the way stakeholders have embraced the HyEnergy Project.

Securing land tenure is a critical element of this project and it is pleasing to have the support of Traditional Owners, pastoralists and the Local and State Government in this process.

We are excited to pursue the next steps of the HyEnergy Project together with our partner Total Eren, a global renewable energy leader with whom we share a strong commitment to take part in Australia's green hydrogen strategy.

Province Resources share price recap

The Province Resources share price hit a 52-week low of 5 cents in June before rocketing thereafter.

Despite the strong gains made today, its shares are down 8.6% in 2022.

Province Resources commands a market capitalisation of approximately $129.83 million.

The post Why is the Province Resources share price leaping 8% on Thursday? appeared first on The Motley Fool Australia.

Following a company announcement this morning, the mineral explorer's shares wavered between 14.5 cents and 16 cents, only to land on 13.5 cents at the closing bell.

At those highs, today's return extended gains to more than 59% for the past month of trade, as seen below (returns from March to date).

What did Province announce?

After requesting a voluntary suspension in the trading of its securities on 15 August, the quote for Province Resources shares were today reinstated.

The move coincided with Province's announcement that it has negotiated key terms with Total Eren Australia Pty Ltd to co-develop the HyEnergy green hydrogen project.

Province says that Total Eren is a global renewable independent power producer (IPP). Total Eren owns 3.5 GW of solar and wind farm assets globally.

It is owned in part by TotalEnergies SE (NYSE: TTE), known to be one of the world's largest energy companies.

The agreement creates a 50:50 structure for the project and identifies key roles moving forward through feasibility stages.

Province CEO David Frances responded to the update. He said the key terms demonstrate the company's "unique relationships with stakeholders" in the project.

"It also recognises the deep experience and technical capability that Total Eren brings to the table," he said.

We have ensured that the key terms provide value for Province shareholders and provide the best possible path forward for the project and we look forward to continue our positive relationship with Total Eren.

Further advancements will now be made with the project. This will include key terms laid out as part of the reported deal structure.

Province Resources share price snapshot

In the last 12 months, the Province Resources share price has been on a volatile journey. Nonetheless, Province Resources shares are up 3.57% in that time.

Province Resources closed Monday down 6.9% at 13.5 cents a share.

The post Why did the Province Resources share price pop then flop on Monday? appeared first on The Motley Fool Australia.

Shares in green hydrogen company are standing still at 14.5 cents each.

As reported by my Foolish colleague Aaron Teboneras, Province shares were frozen last week to give the company time to finalise the terms of a joint development agreement with French renewable energy company Total Eren.

Today, Province requested a further extension of the halt.

Province Resources makes voluntary suspension request

Province asked the ASX to suspend its shares from quotation this morning.

The company asked for more time to finalise its joint venture terms with Total Eren for the HyEnergy green hydrogen project in Western Australia.

Province requested the suspension remains in place until the terms are finalised, or the commencement of trading on Friday this week.

The HyEnergy venture aims to produce 550,000 tonnes of green hydrogen annually at the project site in WA's Gascoyne region. Green hydrogen is produced using renewable energy.

Currently, the project is in the detailed planning stage and is expected to be built in two stages. This includes using a mix of wind turbines and a solar farm.

Province Resources share price snapshot

The Province Resources share price is holding steady year to date although it's down 17% over the last 12 months.

That's an underperformance of the S&P/ASX 200 Materials Index (ASX: XMJ) over the past year. It's down around 10% in the same time period.

The company has a market capitalisation of $171 million.

The post Why is the Province Resources share price still halted? appeared first on The Motley Fool Australia.

The minerals producer's stock has been one of the best performers on the market recently, rising 80% in the past month.

Currently, the share price is frozen at 14.5 cents apiece – roughly an eight-month high for the company.

Why are Province Resources shares halted?

Prior to the market opening today, management requested the Province Resources share price be halted while it prepares an announcement.

According to the release, Province Resources is finalising the terms of its Joint Development Agreement with Total Eren for the HyEnergy Project.

The company has requested that the trading halt remains in place until those terms are finalised.

Should no announcement come before next Monday, Province Resources shares will resume trading on the ASX.

More on the HyEnergy Project

Led by Province Resources, the HyEnergy Project is aiming to generate 550,000 tonnes annually of green hydrogen.

The renewable green hydrogen project is located in Western Australia's Gascoyne Region.

Currently in the detailed planning stage, it is proposed the HyEnergy Project be built in two stages. This includes using a mix of wind turbines and a solar farm.

Province Resources share price snapshot

Over the past 12 months, the Province Resources share price has remained relatively flat despite surging in recent times. It is down 3.3% over the past year and up 3.6% so far in 2022.

Its shares hit a 52-week low of 5 cents in June before moving upstream in the following weeks.

Trading volumes have also largely increased as investor hype ramps up around the company's prospects.

Based on valuation grounds, Province Resources commands a market capitalisation of roughly $171.14 million.

The post Up 80% in a month, why is the Province Resources share price on ice today? appeared first on The Motley Fool Australia.

Hydrogen, specifically green hydrogen, is seen as a key contributor to the goal of electrifying everything, and it's expected to play an important role in industrial applications. However, that isn't to say the sector isn't without its risks.

If you're thinking about investing in ASX hydrogen shares, here's what you should know.

What's the plan for hydrogen?

Energy has become a hot topic as the world faces its greatest energy crisis since the 1970s. A global fossil fuels shortage was already being felt last year, now exacerbated by the conflict between Russia and Ukraine.

This has prompted the International Energy Agency (IEA) to describe the current situation as a "much bigger" crisis than that of the 70s. Portraying the significance of the situation, IEA executive director Fatih Birol said:

Back then it was just about oil. Now we have an oil crisis, a gas crisis, and an electricity crisis simultaneously.

Australia's fresh faces in Parliament will be looking to reduce the country's reliance on dinosaur bones. As laid out in its policies, Labor is targeting a commitment to net zero emissions by 2050 with the interim aim of reducing emissions by 43% by 2030.

In turn, ASX hydrogen shares such as Fortescue Metals Group Limited (ASX: FMG), Pure Hydrogen Corporation (ASX: PH2), and Province Resources Ltd (ASX: PRL) could be set to benefit.

However, two industry experts are cautioning investors about the volatility that comes with hydrogen investments. Firstly, KPMG partner and head of climate change and sustainability Adrain King warned:

If we're going to achieve our ultimate goals, then hydrogen is probably required. But it is still in the innovation stage; it's very small and still pilot-based compared to what it would need to be.

Similarly, Saxo Markets strategist Jessica Amir said:

The (hydrogen) market is very volatile at the moment. There are a lot of hydrogen companies on the ASX and the smaller ones, in particular, are probably worth staying away from just because of the volatility.

How have ASX hydrogen shares performed?

The performance of ASX hydrogen shares this year is split between small-caps and large-caps. Those with a market capitalisation below $200 million have lost the support of investors, resulting in heavy losses.

Whereas the likes of established companies, such as Fortescue Metals and AGL Energy Limited (ASX: AGL), although not pure-play hydrogen shares, have managed a positive performance.

The post Investing in ASX hydrogen shares? Here's what you should know appeared first on The Motley Fool Australia.

They have officially come in as some of the worst-performing hydrogen stocks of the March quarter.

So, what's been weighing on these hydrogen-focused companies' shares lately? Let's take a look.

Five of the worst-performing ASX hydrogen shares

A quick note: This list only considers hydrogen shares with market capitalisations of more than $50 million.

Sparc Technologies Ltd (ASX: SPN) – down 45.6%

The March quarter was a big one for this ASX hydrogen share. Unfortunately, it wasn't to the benefit of its share price.

The first news released by Sparc was its activities and cash flow report for the December quarter. Its release saw the company's share price surge by nearly 15%.

However, that gain – and then some – was stripped as the company exited a trading halt with big news.

And exciting news it was. Sparc announced Fortescue Metals Group Limited (ASX: FMG)'s green energy leg, Fortescue Future Industries (FFI), was buying into Sparc's ultra-green hydrogen joint venture.

The Sparc share price plummeted 17% on the back of the announcement. The remainder of the quarter was a rollercoaster for the stock.

It gained 7% when it released more details of the hydrogen project and completed the first stage of FFI's buy-in. But it flopped 10% after the company retracted some previously-given details on the project's expected production costs and expenditures.

As of the final close of the March quarter, the Sparc share price was 88 cents, down from its starting price of $1.62.

Province Resources Ltd (ASX: PRL) – down 27.5%

Last quarter was also rough on the Province Resources share price.

The company is developing the HyEnergy renewable green hydrogen project in Western Australia.

Province Resources' poor performance in the quarter came despite no price-sensitive news sending the ASX company's shares lower.

In fact, the Province Resources stock gained 10.7% when it released its activities and cashflow report for the December quarter.

Additionally, news of a positive scoping study for the HyEnergy Project saw its share price trading flat.

Still, the Province Resources share price slipped from 14.5 cents to 10.5 cents over the three months ended 31 March, making it one of the quarter's worst-performing ASX hydrogen shares.

Hazer Group Ltd (ASX: HZR) – down 20%

The March quarter was also rough on the Hazer share price.

It tumbled nearly 9% when the company announced a solution to a previously recognised fault in the manufacturing of a crucial part of its commercial demonstration plant.

The fault ultimately resulted in a delay to the plant's commissioning and an estimated $1 million of extra costs.

The release of the company's December quarterly update saw its stock dump 2%, while its half-yearly report saw it slip 1%. Over the six months ended 31 December, Hazer's revenue fell 51%, while its after-tax losses increased 607%.

Fortunately, the Hazer share price gained an impressive 12% on the announcement of a potential new hydrogen project. The company released news of its agreement with two Canadian energy companies to work towards building the project, for which Hazer will supply the technology, engineering, and catalyst.

Sadly, that boost wasn't enough to get the company's stock into the green last quarter.

After finishing 2021 trading at $1.15, the Hazer share price was 92 cents at the end of March.

Wesfarmers Ltd (ASX: WES) – down 15%

While not best known for its interests in hydrogen, this ASX giant is technically a hydrogen share.

That's because it owns Coregas. Coregas has been involved with the Hydrogen Energy Supply Chain project, is working to supply hydrogen to Australia's transport sector, and manufactures the gas in Port Kembla.

The Wesfarmers share price fell 7% on the release of the company's half-year results last quarter. The company also completed its acquisition of formerly ASX-listed Australian Pharmaceutical Industries in March.

After ending the December quarter at $59.30, the Wesfarmers share price closed March trading at $50.41.

Pure Hydrogen Corporation CDI (ASX: PH2) – down 13.6%

Finally, last quarter was a rollercoaster for the Pure Hydrogen share price on the ASX.

It started out by flopping nearly 17% after the company was forced to supply more details of its previously announced hydrogen-related deals to the ASX.

However, that slip was recovered when the company announced H2X Global – of which Pure Hydrogen holds a 24% stake – had entered into a joint venture to supply hydrogen-powered vehicles to India.

A few days later, the Pure Hydrogen share price surged again on the back of the company's activities report for the December quarter.

It also recorded notable gains following deals that will see the company commercialising a process to create turquoise hydrogen and trialling Australia's first hydrogen-powered garbage truck.

Unfortunately, the Pure Hydrogen share price slipped from 55 cents at the end of 2021 to 47.5 cents at the end of the March quarter.

The post Here are the 5 worst-performing ASX hydrogen shares of the March quarter appeared first on The Motley Fool Australia.

Last year proved to be a good one for ASX hydrogen shares, with five companies gaining more than 100% in 2021.

So what's the outlook for hydrogen? Let's take a look.

Clean energy opportunity

Hydrogen as a fuel source will be "key" to reducing carbon emissions in the economy, a foreword to the ANZ Hydrogen Handbook stated.

In comments signed off by ANZ chief executive Shayne Elliot, group executive Mark Whelan and managing director Christina Tonkin, the report said:

The rapid emergence of hydrogen as a low-emissions fuel source offers another pathway to achieving net-zero carbon. With its distinctive properties as an energy carrier, we believe hydrogen will be key.

With abundant wind and solar energy resources, Australia is well positioned to play a pivotal role in developing a hydrogen export market to key customers in Asia, in particular those in Japan, Singapore and South Korea. Our customers are clearly pursuing the commercial production of hydrogen to varying degree.

ASX hydrogen shares

Earlier this week, Goldman Sachs said the hydrogen market could be worth more than US$1 trillion ($1.4 trillion) by 2050 — and predicted Australia to play a major role in it.

One notable ASX hydrogen share is Fortescue Metals Group Limited (ASX: FMG) and its green energy subsidiary, Fortescue Future Industries (FFI).

The company last year announced plans to build a hydrogen-equipment manufacturing facility in Queensland. The Global Green Energy Manufacturing Centre, in Gladstone, will produce up to 2 gigawatts of electrolysers each year. Electrolysers split hydrogen from water and, if run on renewable electricity, are entirely carbon neutral.

Fortescue chair Andrew Forrest this week took aim at the Morrison government's assertion that coal and gas-generated hydrogen can be billed as 'clean'.

The Fortescue Metals Group share price closed yesterday at $22.28, up 3.97%. It is now up 16% this year to date.

With investors keen to jump on the green energy bandwagon, 2021 saw huge increases for some ASX hydrogen shares. The biggest gainer was Province Resources Ltd (ASX: PRL), which saw its share price skyrocket 1,300% last year.

Other ASX hydrogen shares that recorded big gains in 2021 include Sparc Technologies Ltd (ASX: SPN), Pure Hydrogen Corporation CDI (ASX: PH2), Environmental Clean Technologies Ltd (ASX: ECT), and QEM Ltd (ASX: QEM).

Three key openings

There are three major openings for Australia when it comes to clean hydrogen, ANZ executive director John Hirjee suggests.

The first is energy export. Hirjee commented Japan and South Korea need cleaner energy to meet their reduction targets. He believes clean hydrogen is ideal.

In a research paper forming part of the handbook titled 'Hydrogen — is it a lot of hot air?', Hirjee said:

This is a significant opportunity for Australia, given the potential for ample renewable energy and convertible fossil fuel reserves. However, the export industry is likely to take some years to develop to full-scale commercialisation.

The domestic economy is also a major opportunity for Australia, given hydrogen can power our cars, Hirjee stated. Finally, he believes green hydrogen production can help build energy system resilience.

While firmed renewable energy is the least capital intensive form of producing clean hydrogen, green H2 production can respond rapidly to variations in electricity production and contribute to frequency control in the electricity grid.

However, the commercialisation of hydrogen is not without its challenges, the report says. Electrolysis, the method used to produce hydrogen, is expensive. Once produced, hydrogen is difficult and costly to store and transport, due to the gas being highly flammable and volatile.

So what's the outlook for ASX hydrogen shares?

By 2050, hydrogen could power 400 million cars, 20 million trucks, and 5 million buses, Hydrogen Council forecasts cited in the report predicted.

Hydrogen is experiencing "unprecedented momentum" and is vital for a clean and secure energy future, the report noted.

ANZ believes Australia is "uniquely positioned" to become a leader in clean hydrogen. In a research paper forming part of the report, author Jessica Paterson summarised:

The proximity of Australia to the Asia Pacific region provides a key advantage for supplying Asian markets with H2, as other potential competitors could be disadvantaged by additional transport costs.

Furthermore, Australia can capitalise on its proven track record in energy exports such as LNG, especially to comparatively resource-constrained countries.

The post Are ASX hydrogen shares in a 'hot air' bubble? appeared first on The Motley Fool Australia.

Goldman Sachs predicts our island home could tap in as a key exporter of the commodity.

Additionally, it expects the hydrogen market could be worth more than US$1 trillion ($1.4 trillion) by 2050.

Let's take a look at what might be in store for Australia's – and the ASX's – future in the green hydrogen space.

Could Australia host a prime spot in a $1.4 trillion industry?

According to analysts by Goldman Sachs, Australia could be up against regions including the Middle East, North Africa, and Latin America in the race to supply hydrogen to potential major importers in Central Europe, Japan, Korea, and East China.

And we're going about it differently than other regions.

Australia's hydrogen strategy focuses on its ambition of becoming a global hydrogen hub – using its natural gas and access to low-cost renewable power to produce the energy commodity.

Australia's hydrogen industry is expected to ramp up from 2025, alongside that of Latin America, Europe, and Africa.

However, Australia and Europe have the lead in planned electrolyser capacity additions. They also offer the most funding for green hydrogen projects, such as those in the sights of many ASX shares.

Australia's National Hydrogen Strategy aims to place the nation as a key hydrogen exporter by 2030.  

Looking to the future of the global industry, Goldman Sachs predicts up to 30% of hydrogen could be exported across borders – creating a new major international trade. For context, that's more than the amount of natural gas currently traded between nations.

It also believes the average size of hydrogen projects could increase more than 100 times over by 2025, while the cost of electrolysers needed to produce the energy commodity could drop 40%.

Making the case more exciting, the price of hydrogen could be par with that of diesel in long-haul heavy road transport by as early as 2027.

So, which ASX shares have the potential to be involved in the upcoming export commodity? Let's take a look.

What ASX shares are involved in hydrogen?

There are plenty of ASX shares already on the hydrogen bandwagon.

Of course, the most notable is Fortescue Metals Group Limited (ASX: FMG) and its green energy leg, Fortescue Future Industries (FFI).

It's creating a major electrolyser manufacturing facility in Queensland, as well as engaging in green hydrogen production and hydrogen-fuelled transport initiatives.

Meanwhile, Hazer Group Ltd (ASX: HZR) is working to create hydrogen and synthetic graphite using its HAZER Process.  

Province Resources Ltd (ASX: PRL) is one step ahead with its HyEnergy Project, creating green hydrogen in Western Australia.

Speaking of the HyEnergy Project, Global Energy Ventures Ltd (ASX: GEV) recently began a feasibility study looking at transporting hydrogen from the project to key markets in Asia using its propriety compressed hydrogen ship.

Other ASX shares involved in hydrogen include Pure Hydrogen Corporation CDI (ASX: PH2) and Sparc Technologies Ltd (ASX: SPN).

The post Can Australia win the $1.4 trillion global hydrogen race? appeared first on The Motley Fool Australia.

The promise of clean and green energy extracted from water gained interest last year. From this, a number of ASX-listed companies dabbling in the space experienced extraordinary returns.

Let's hone in on the 5 hydrogen shares that performed the best in 2021.

5 powerhouse ASX-listed hydrogen shares of 2021

The topic of hydrogen energy dominated the headlines last year. Meanwhile, the following 5 companies decimated market returns. For context, the S&P/ASX 200 Index (ASX: XJO) produced a 13% return before dividends. Whereas, all of these ASX shares gained more than 100% during the 12-month period.

QEM Ltd (ASX: QEM)

Landing on our roundup of best performing ASX hydrogen shares of 2021 is exploration and project development company, QEM Ltd. Shares in the small-cap flew higher back in March of last year after it announced plans to pursue a green hydrogen strategy at its Julia Creek Project.

Since then, the company has undertaken studies to assess the use of solar and/or wind farms to produce green hydrogen. In July, QEM announced it had concluded that the project could accommodate a wind farm capable of outputting 126 megawatts of electricity.

With its plans progressing throughout the year, the QEM share price gained 125% in 2021.

Environmental Clean Technologies Ltd (ASX: ECT)

The next ASX hydrogen share making the top 5 is Environmental Clean Technologies Ltd. The way this company is dabbling in hydrogen energy is through its two technologies; HydroMOR and COHgen. Both of these technologies are centred around the use of lignite — also known as brown coal.

In November 2021, the company announced it had purchased the site for its proposed hydrogen refinery project. According to the release, the property spans 4.2 hectares in the Latrobe Valley next to the Yallourn mine and power station.

Shares in Environmental Clean Technologies gained 300% in 2021, making this company a four-bagger in one year.

Sparc Technologies Ltd (ASX: SPN)

Taking hydrogen energy to the next level, Sparc Technologies introduced the concept of 'ultra-green' hydrogen in 2021. In October, the company announced a joint venture with the University of Adelaide to develop this technology.

What sets Sparc's new concept apart from the rest is its plan to utilise direct solar radiation to produce hydrogen from water. This would remove the need for complex and expensive electrolysers, making the process of creating green hydrogen more economically viable.

This ASX hydrogen share skyrocketed an astonishing 423% during 2021, making it the third best-performing out of the bunch.

Pure Hydrogen Corporation CDI (ASX: PH2)

Despite plateauing between May and September, Pure Hydrogen Corporation was one of the best performing ASX hydrogen shares in 2021. A raft of announcements relating to planned hydrogen projects, funding, and technology saw this company rise to prominence last year.

In November, Pure Hydrogen announced it expected to have a waste hydrogen plant operational by the end of this year. This would be the first of its three planned facilities across Brisbane, Melbourne, and Sydney. Additionally, the plants are expected to supply at least 1,000 kilos of hydrogen per day for six years.

At the end of a record year for the company, shares in Pure Hydrogen notched up a 511% gain.

Province Resources Ltd (ASX: PRL)

Finally, with a mindboggling return of 1300% last year, the best performing ASX hydrogen share of 2021 was Province Resources Ltd.

The majority of this face-melting share price appreciation was accrued in the first few months of the year. Around this time Province Resources acquired Ozexco Pty Ltd, giving the company wind and solar resources, unlocking the potential for renewable green hydrogen.

Since then, Province has gone on to raise further funds to progress its planned HyEnergy Project.

The post Here are the 5 best performing ASX hydrogen shares of 2021 appeared first on The Motley Fool Australia.

During market open, the minerals producer's shares were fetching for an intraday high of 15 cents, up 7.14%. They have since given up some of those gains and now trade for 14.8 cents, up 5.36%.

What did Province announce?

Investors appear excited by the company's latest announcement, sending the Province Resources share price higher.

In its announcement, the company advised its HyEnergy Project has been awarded lead agency status by the Western Australian government.

The official status enables a higher level of collaboration between a state agency and the company. As such, the Department of Jobs, Tourism, Science and Innovation (JTSI) will lead the facilitation on the project.

This will see more coordinated and streamlined support to assist the HyEnergy Project through the government approvals processes.

Recently, Province Resources lodged a Project Definition Document with the JTSI department, outlining key details of the project.

Earlier in the year, the company entered into a memorandum of understanding (MoU) with global renewable energy leader, Total Eren.

The framework paved the way for a feasibility study on potentially developing the proposed HyEnergy Zero Carbon Hydrogen project. This included installing up to an 8-gigawatt renewable power facility, and creating an integrated hybrid renewable energy capacity.

Province managing director, David Frances commented:

The formal appointment of the Department of Jobs, Tourism, Science and Innovation as lead agency will provide significant assistance in obtaining government approvals.

The decision also elevates the status of the HyEnergy Project as a significant development for the State, and one which will make a major economic contribution to the Gascoyne region and beyond.

We are thrilled with the support the HyEnergy Project is receiving from our major stakeholders as we progress this important green energy development.

About the Province Resources share price

It's been an outstanding 12 months for Province Resources shares, delivering astronomical gains of 1,035% to investors.

On valuation metrics, Province Resources has a market capitalisation of $166.62 million, with about 1.13 billion shares on issue.

The post Here's why the Province Resources (ASX:PRL) share price is up 7% today appeared first on The Motley Fool Australia.

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.

The company operates two hydrogen-focused legs: HydroMOR, which works to create lignite-based, hydrogen-driven iron-making technology, and COHgen, which is looking to produce hydrogen from lignite.

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.

It also entered into an agreement to build waste hydrogen plants in Brisbane, Sydney and Melbourne. It later announced the Brisbane plant will be operational in 2022.

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).

In November, FFI announced that planning approval for its Global Green Energy Manufacturing Centre had been given the green light.

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.

The post These were the 5 best-performing ASX hydrogen shares of November appeared first on The Motley Fool Australia.

At the time of writing, the share prices of ASX hydrogen companies, Hazer Group Ltd (ASX: HZR), Pure Hydrogen Corporation Ltd (ASX: PH2), and Province Resources Ltd (ASX: PRL) are down 3.36%, 3.03%, and 3.12% respectively.

For context, the S&P/ASX 200 Index (ASX: XJO) has slipped 0.36%, while the All Ordinaries Index (ASX: XAO) is sporting a 0.44% slump.

Additionally, the S&P/ASX 200 Materials Index (ASX: XMJ) is see-sawing on Wednesday. Currently, it is 0.54% higher.

Let's take a look at what could be weighing on ASX hydrogen shares today.

Have US markets caused ASX hydrogen shares suffering?

It's a tough day for hydrogen-focused ASX shares, which are potentially being driven downwards by the poor performance of some of their international peers.

As my Foolish US colleague reported yesterday, the growth positions of many hydrogen companies might be weakening their performance.

Of course, hydrogen as an energy source is relatively new. That means many hydrogen companies are in their infancy.

In fact, Hazer, Pure Hydrogen, and Province Resources all sport market capitalisations of between $167 million and $215 million.

Growth stocks are generally at the mercy of markets. Unfortunately, those markets – particularly that of the United States – could look a little rocky at the moment.

Yesterday, United States Federal Reserve chair Jerome Powell said the Omicron COVID-19 variant is a risk to the nation's employment and economic activity.

It is, therefore, a potential harbinger of inflation.

Finally, ASX shares tend to move in trend with their United States-listed counterparts.

Thus, ASX hydrogen shares might be reacting to some NASDAQ-listed hydrogen stocks movement overnight.

While most of Australia slept last night, the FuelCell Energy Inc (NASDAQ: FCEL) share price slipped 2.6%. Meanwhile, that of Plug Power Inc (NASDAQ: PLUG) tumbled 4.2%.

Though, plenty of US-listed hydrogen shares did post modest gains in Tuesday's session.

The post Why are ASX hydrogen shares tumbling today? appeared first on The Motley Fool Australia.

Hydrogen is made 'green' when the electrolysis process through which it's created is powered using renewable energy. Thus, it's possible to create zero-carbon hydrogen.

The renewable commodity is part of the Australian Government's plan to reach net-zero emissions by 2050.

According to the Australian Renewable Energy Agency, green hydrogen could help Australia reduce carbon emissions in high-temperature industries such as steelmaking, as well as in some transport sectors.

The agency is also looking to find if the renewable commodity could power Australian homes.

Clean hydrogen is also being explored as part of Australia's National Hydrogen Strategy. The strategy aims to see the nation exporting renewable hydrogen by 2030.

Finally, the government of Western Australia, the world's largest iron ore producing region, began an investigation into a 'green' steel future on Monday. The governments of New South Wales and Queensland have also jumped on board the green hydrogen-powered train in recent weeks.

So, which ASX shares are involved in the seemingly up-and-coming green hydrogen sector? Let's take a look.

ASX green hydrogen-focused shares

Fortescue Metals Group Limited (ASX: FMG)

Market watchers might be wondering how one of the world's largest iron ore producers made this list. As it so happens, the company's Fortescue Future Industries division earned it its spot.

Fortescue Future Industries is building a hydrogen-equipment manufacturing centre in Queensland, where it will produce electrolysers. Electrolysers create the electrolysis process.

The renewable-energy focused body is also looking to build hydrogen plants around the world and has a goal of producing 15 million tonnes of the clean commodity by 2030.

Sparc Technologies Ltd (ASX: SPN)

While Fortescue is focusing on producing electrolysers and green hydrogen, Sparc is scrapping both.

It's working to create 'ultra' green hydrogen using only sunlight and a reactor.

Thus, it will bypass the need to capture energy – no matter how renewable – for the process of producing hydrogen.

Sparc announced its new ambition, which it's pursuing in partnership with the University of Adelaide, last week.

Province Resources Ltd (ASX: PRL)

Finally, a more 'traditional' ASX green hydrogen stock.

Province Resources operates the HyEnergy Zero Carbon Hydrogen Project, located at Carnarvon, Western Australia.

Recently, Province began an export feasibility study to look at using Global Energy Ventures Ltd's (ASX: GEV) compressed hydrogen ships to export green hydrogen from the project.

The post Which ASX shares are involved with green hydrogen? appeared first on The Motley Fool Australia.

Shares in the alternative energy source regained momentum on Monday after Fortescue Future Industries announced plans to construct a hydrogen electrolyser manufacturing centre in Gladstone. However, investors may be wondering if there is substance to the emerging industry.

Thankfully, Capgemini released its 23rd edition of the World Energy Markets Observatory on Tuesday. Among a vast collection of insightful data, Capgemini shed some clarity on hydrogen's future in the energy market.

Demand for alternatives

Before we get to how hydrogen might help Australia reach its net-zero targets, let's evaluate the current energy landscape in the land down under.

According to Capgemini, Australia's total electricity generation in 2020 was 265.2 terawatt-hours. Putting this into perspective, that is approximately the energy consumption of 47.9 million homes. Additionally, the report indicates almost a quarter of all this electricity was generated from renewable sources.

While that might seem substantial, the research suggests a further 5 to 10-fold increase in investments of low carbon technologies per year will be needed to meet Paris Accord objectives. Such an outlook appears positive for ASX hydrogen shares and the like. At a minimum, it indicates a sustainably larger market for green alternatives.

Commenting on this, group vice-president energy and utility sector Philippe Vié stated:

In this year's World Energy Markets Observatory, we see the need to maintain energy affordability while accelerating energy transition efforts. Emerging technologies and new use cases across the energy value chain, including green hydrogen, CCUS, storage, and e-mobility, will play a critical role in helping the world achieve a net-zero future.

ASX hydrogen shares with a part to play

So, what part could ASX hydrogen shares play in this net-zero future? Based on Capgemini's findings, green hydrogen has the potential to decarbonise an additional 15% of the world economy. That makes for an incredibly large addressable market.

However, to unlock such market potential, the costs of the emissions-free benefactor will need to decline. At present, green hydrogen will drain the pocket at $3 to $6.55 per kilogram. Meanwhile, fossil-based 'grey' hydrogen is a much cheaper $1.80 per kilogram. Luckily, Capgemini expects costs for the green alternative to reduce if/when the price of electrolysers shifts lower.

Speaking of electrolysers, one ASX-listed company getting involved in the production of this equipment is Fortescue Metals Group Limited (ASX: FMG). Specifically, the green-focused subsidiary Fortescue Future Industries (FFI), which today announced a joint venture with US-based hydrogen solutions provider, Plug Power Inc (NASDAQ: PLUG).

In addition to Fortescue, there is a whole swathe of smaller ASX hydrogen shares vying for a slice. These hydrogen compadres include Hazer Group Ltd (ASX: HZR) and Province Resources Ltd (ASX: PRL).

The post How fast is green hydrogen growing and which ASX shares could benefit? appeared first on The Motley Fool Australia.

It seems the announcement has renewed optimism for what the hydrogen sector could be in the years to come. Additionally, it comes at a time when energy-generating resources are in high demand. Illustrating the depth of the current energy crisis, natural gas in Europe now costs 130% more than it did at the beginning of September.

Green development for ASX hydrogen shares

In a reaffirming sign for the Australian hydrogen industry, a subsidiary of Fortescue Metals Group Limited (ASX: FMG) yesterday announced its intention to develop a green hydrogen manufacturing industry in Queensland.

The subsidiary is none other than Fortescue Future Industries (FFI). For the uninitiated, this is the iron ore giant's green energy offshoot. According to its website, the subsidiary is targeting 15 million tonnes of green hydrogen production by 2030.

As we covered in another article, the announcement outlines the plan to construct the world's largest electrolyser, renewable industry, and equipment manufacturing centre at Gladstone. Ambitiously, the planned 'Global Green Energy Manufacturing' centre is the first in what is expected to be a series of centres.

Furthermore, the proposal has gained the backing of the Queensland government with Premier Annastacia Palaszczuk noting an expected 300 local jobs will be created.

The announcement has highlighted the large potential opportunity ahead for ASX hydrogen shares. Companies back in the spotlight today include:

• Hazer Group Ltd (ASX: HZR) up 5.03% to $1.045
• Province Resources Ltd (ASX: PRL) up 1.72% to 14.75 cents
• Pure Hydrogen Corporation Ltd (ASX: PH2) up 6.67% to 24 cents

Meanwhile, Fortescue Metals is enjoying a green day of its own on the back of the hydrogen news. At the time of writing, shares in the iron ore company are trading 3.33% higher to $14.725.

Reflecting on the sector

Unlike other recent trends, ASX-listed hydrogen shares have been quite sporadic over the past several months. For example, the Hazer Group share price peaked in February before trending downwards, gaining a second boost in April. Similarly, Province Resources surged throughout February to April but its share price has since declined and traded sideways.

However, many of these companies have substantially outperformed the S&P/ASX 200 Index (ASX: XJO) so far this year. Pure Hydrogen Corporation, for instance, is up an incredible 167% year-to-date. This is well in excess of the 9% delivered by the benchmark index.

The post Why are ASX hydrogen shares in the spotlight on Monday? appeared first on The Motley Fool Australia.

The Province Resources share price is currently trading at 15.2 cents after earlier hitting an intraday high of 15.5 cents, up 7%. Here's what we know.

Province Resources to start hydrogen study

The company advised that energy transition company Global Energy Ventures Ltd (ASX: GEV) is set to start an export feasibility study on Province's HyEnergy Zero Carbon Hydrogen project.

Three consultant companies have been appointed, including engineering company WSP as project lead, Environmental Resources Management (ERM) for environmental management, and port developer Oropesa for offshore terminal design.

Province Resources said the HyEnergy export study objective was to "demonstrate the technical feasibility and commercial advantages of Global Energy's compressed hydrogen shipping solution".

It will analyse the requirement of a fleet of the Global Ventures' compressed hydrogen ships, including a 430-tonne pilot sale ship, and a 2,000-tonne commercial-scale ship under the company's fleet.

It will also focus on how best to integrate Province's proposed green hydrogen production facility with an onshore compression facility.

This will be built out with an offshore mooring and loading system, alongside the operation of a fleet of "compressed hydrogen ships for marine transport to nominated markets in Asia Pacific".

Both of these moves are in an attempt to construct a viable export solution, using Province's green hydrogen, and Global Energy's compressed hydrogen ships.

Global Energy anticipates the study to be completed by midway next year, according to the release.

Backgound on the project

The announcement builds on previous work at the HyEnergy project, where Province received a Section 91 licence to commence on-ground project studies at the site around a month ago.

There was little change in pricing levels for Province Resources' share price afterwards, as it finished the 7 days afterwards flat at 16.5 cents.

However, it appears to be a different story today, as investors continue buying the company's shares and push its market capitalisation to $163 million.

Province Resources share price snapshot

The Province Resources share price has soared into the green this year to date, gaining almost 1,100% since 1 January.

Over the 12 months, it has climbed 1,360%, but still trades well off its 52-week high of 21 cents back in April this year.

Nonetheless, these results have far outpaced the S&P/ASX 200 index (ASX: XJO)'s return of about 25% this past year.

The post Province Resources (ASX:PRL) share price jumps 7% on hydrogen update appeared first on The Motley Fool Australia.

Below we take a look at the latest announcement from the ASX hydrogen share.

What did Province announce?

Province Resources' share price is gaining after the company reported it has secured the first of a series of required approvals for its HyEnergy green hydrogen project in Western Australia.

The section 91 licence covers an area of 99 square kilometres, known as the Town Common, situated north of Carnarvon.

The company plans to build its HyEnergy Project production site and some upstream generation assets in the licenced area. Once completed, the green hydrogen project could produce up to 8GW. Though Province said it may initially be developed with a smaller capacity.

Province Resources managing director David Frances said that the licence was just the first step in a series of required approvals before the project becomes operational. But the company is excited to commence activities in the Town Common.

Commenting on the license approval, Frances said:

This approval allows us to get on the ground to commence our environmental, heritage, geo technical and other survey work. It means we get can get a better understanding of the physical properties of the location to support our concept selection process. We are looking forward to being on site in the coming weeks to begin this important work.

The company is currently in discussions with the Western Australian government and the Shire of Carnarvon to secure a long-term lease of the Town Common.

It said its also in discussions with pastoralists, traditional owners and the state government to secure access to a "broader area of the Gascoyne Region" for the purpose of installing large-scale wind and solar generation assets.

Province Resources share price and company snapshot

The Province Resources share price has hands down been a stellar performer in 2021.

Year-to-date shares are up an eye-popping 1,450%. That's more than 130 times the 11% gains posted by the All Ordinaries Index (ASX: XAO) this calendar year.

Over the past month the Province Resources share price is up 3%.

The post Up 1,450% in 2021, why Province Resources (ASX:PRL) share price is up again today appeared first on The Motley Fool Australia.

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.

The announcement contained a number of updates for its HyEnergy Zero Carbon Hydrogen Project.

Province Resources is aiming to become Australia's first truly zero-carbon green hydrogen project.

At the time of writing, the Province Resources share price is up 9.37% to 18 cents.

What did Province Resources announce?

Province Resources advised that its scoping study data collection is proceeding as anticipated. It expects heritage, ecological, environmental and geotechnical studies to commence shortly.

In addition, the company has been undertaking advanced modelling of expected green hydrogen prices and the cost of production to optimise an initial Phase 1 development.

The green hydrogen industry is in its infancy. Province Resources is actively working with and assisting multiple state government departments to develop a comprehensive legislative regime.

The company hopes to secure a lead agency status to help advance the project's environmental and other permitting requirements.

Province Resources highlighted that at the local government level, it secured the support of the Shire of Carnarvon. It has entered a memorandum of understanding (MoU) to investigate the use of 12.3 hectares north of the Carnarvon township.

The company will explore whether the area is suitable to develop infrastructure for the HyEnergy Zero Carbon Hydrogen Project.

Province Resources has also commenced discussions with a number of potential domestic offtake partners in the transport and utility sectors. It will expand these discussions to include potential international offtakers, too.

Management commentary

Province Resources' CEO David Frances commented on the recent theme of hydrogen.

Globally we have seen more and more hydrogen projects being announced. Key market pricing predictions and technology developments at all stages of the value chain indicate this transition to green energy is happening even more rapidly than we anticipated.

Frances also shed light on the risks of operating in a relatively new sector.

As with any pioneering industry, there are of course risks facing the HyEnergy Partners, in particular the current absence of certainty of land tenure for green hydrogen projects or a comprehensive legislative regime to govern the industry.

But what is clear to us is that all stakeholders want the green hydrogen industry to succeed, that solutions will be found in a collaborative manner to the current obstacles to the development of the industry and that there is a recognition that the HyEnergy Partners are a key participant in the industry.

About the Province Resources share price

The Province Resources share price has surged an eye-watering 1,620% year to date.

The sharp surge was driven by the company's acquisition of Ozexco Pty Ltd. This gave it access to a number of exploration licence applications in the Gascoyne region of Western Australia.

The company's shares surged 458% from 2.5 cents to 14.5 cents on the day of the announcement.

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