HYDROGEN ECONOMY INDEX (H2X) – Rebalance for Latter Q1 2025. 61 COMPONENTS

Name Description Sector Activity
Aker Carbon Capture Production of green / and blue H2 and its derivatives. HG NORWAY
Alfa Laval Heat exchangers for green H2 production, electrolyzers. HS SWEDEN
Arcadis NV H2 network, Netherlands, Europe, in planning. HI NETHER.
Asahi Kasei Alkaline water electrolyzers, supplier of all components. GH JAPAN
Ballard Power Systems Inc Fuel cells, H2 in buses, trucks, trains, backup power etc. HT CANADA
Belden DC power from fuel cells, or intermittent wind & solar. FC USA
Bloom Energy Corp Fuel cells, SOFC high temps can use variety of fuel sources. FC USA
Ceres Power Holdings PLC Fuel cells, high SOFC temperature allows variety of fuels. FC UK
China Datang Renewables Wind & hydro in China, that’s developing H2 projects. HG CHINA
Chung-Hsin Electric Fuel cells. Hydrogen, methanol reformers. HG TAIWAN
Corp. Acciona Energias Renov. Green H2, new GreenH2Chain to ensure green H2 origins. HI SPAIN
Delta Electronics Solid oxide fuel cells development, also electrolyzers. FC TAIWAN
DEME Group NV Offshore energy infrastructure, green hydrogen. HT BELGIUM
Doosan Fuel Cell Fuel cells, high temperature for a variety of fuels. FC S. KOREA
Evonik Industries AG Chemicals, H2 carriers, membranes for eletrolysis, FCs. HG GERMANY
Fluence Energy Energy storage software, hardware for green H2 on grid. HI USA
Fuelcell Energy Inc Fuel cells, high temperature so over range of fuel sources. FC USA
Furuya Metal Electrolysis, green H2, iridium coating for electrodes. HG JAPAN
Gevo Renewable hydrogen, and hydrocarbons development. HI USA
Hanwha Solutions H2 storage, refueling vehicles, drones, aerospace. HS S. KOREA
Hexagon Composites Hydrogen storage, also RNG, composite tanks. HS NORWAY
Hyosung Advanced Materials Advanced composite materials for hydrogen tanks. HS S. KOREA
Hyster-Yale Lift trucks, powered cleanly by hydrogen fuel cells. HT USA
Industrie De Nora SpA Green hydrogen, by alkaline water electrolysis. GH ITALY
Infineon Technologies Power electronics, in green hydrogen, wind, solar. GH GERMANY
ITM Power PLC Fuel cells, PEM; electrolyzer manufacturing green H2. GH UK
Johnson Matthey Catalyst-coated membranes, in fuel cells, electrolyzers. FC UK
Kaori Heat Hydrogen (H2) generators, methanol fuel cells (FCs). FC TAIWAN
Kolon Industries Membranes, fuel cell PEMs, MEA commercialization. HI S. KOREA
LEM Holding Power measurements, better fuel cell efficiencies. FC CHINA
Littelfuse Hydrogen & fuel cell sensors, temperature probes. HS USA
Lotte Fine Chemical Green hydrogen, production launch, ammonia. GH S. KOREA
Nel ASA Electrolysis for H2 from water, using alkaline and PEM. GH NORWAY
Nexans SA Cables, can carry both H2 + electricity, H2 pipelines. HT FRANCE
NFI Group Hydrogen fuel cell electric power in buses, HT CANADA
Nippon Sanso Holdings Hydrogen fuel, carried via ammonia for fuel cells. HS JAPAN
OCI N.V. Green Ammonia, building up from biogas, hydrogen. HG NETHER.
Opmobility SE H2 and fuel cell technologies in automobiles, trains. HT FRANCE
Orsted A/S Green hydrogen directly from wind power, early stage. GH DENMARK
Plug Power Inc Green hydrogen, and fuel cell systems in development. HI USA
Renesas Electronics Hydrogen gas sensors, power controller systems. HG JAPAN
Renew Energy Global Green hydrogen activity, India, Egypt, elsewhere. GH INDIA
Resonac Holdings Corp Lower-CO2 hydrogen from used plastics; graphite uses. HI JAPAN
Scatec ASA Green Hydrogen produced by solar power. GH NORWAY
Schneider Electric SE Gas analysis, automation for advanced H2 storage. HS FRANCE
SK IE Technology Large plants for liquification of blue hydrogen. HG S. KOREA
SKF AB Advanced bearings, for H2 by compressed transmission. HS SWEDEN
SMA Solar Technology Electrolyzer converters, green H2 from renewables. GH GERMANY
Solvay SA Advanced materials, membranes & polymers for H2. HI BELGIUM
SungEel HiTech Recycling platinum from fuel cell spent catalysts. HI S. KOREA
Spie SA Hydrogen in mobility, H2 production, distribution. HT FRANCE
Thyssenkrupp Nucera Electrolyzers, a purer play in hydrogen generation. GH GERMANY
Tianneng Power Hydrogen, fuel cells, Li-ion and other batteries. FC CHINA
Toray Industries Membranes for H2 purification, generation, fuel cells. HI JAPAN
Toyo Tanso Graphite, nanotubes H2 storage, brushes in wind. HS JAPAN
Verbio Vereinigte Bioenergie AG H2 from biomethane, biofuels, agriculture. HG GERMANY
W-Scope Water electrolysis, by anion exchange membranes. GH S. KOREA
Wacker Chemie AG Green H2 from water using renewables, into methanol. GH GERMANY
Weichai Power Hydrogen uses in forklifts, fuel cell buses, Asia. GT CHINA
Wolfspeed High power fuel cell systems, SiC, GaN. HT USA
Yara International Green ammonia, H2 catapult aims for H2 <$2/kg. GH NORWAY

 

For Rebalance in latter Q1 2025
Additions for Latter Q1 2025: Aker Carbon Capture, SK IE.
Deletion for Latter Q1 2025: Brookield Renewables, Dae Myoung, Neoen, TE Connectivity, Voltalia.
Equal Weight = 100/61 = 1.63934% each.
Hydrogen Index Sector #
FUEL CELLS (FC) = 10
GREEN HYDROGEN (GH) = 14
HYDROGEN GENERATION (HG) = 9
HYDROGEN INNOVATION (HI) = 10
HYDROGEN STORAGE (HS) = 9
HYDROGEN in TRANSPORTATION (HT) = 9
TOTAL CONSTITUENTS = 61

 



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