HYDROGEN ECONOMY INDEX (H2X) – Rebalance for Latter Q1 2026. 65 COMPONENTS

Name Description Sector Activity
AGC Inc Fluoropolymer ion exchange membrane. HG JAPAN
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, 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
Energy Vault Holdings H2-Vault Hydrogen Storage Tech HS USA
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
Furuya Metal Electrolysis, green H2, iridium coating for electrodes. HG JAPAN
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
Kyocera Solid oxide fuel cells (SOFC) stack development. FC JAPAN
LEM Holding Power measurements, better fuel cell efficiencies. FC CHINA
Lotte Fine Chemical Green hydrogen, production launch, ammonia. GH S. KOREA
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
Nordex SE Green H2, in a JV for electolyzers HG GERMANY
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
Resonac Holdings Corp Lower-CO2 hydrogen from used plastics; graphite uses. HI JAPAN
Salzgitter AG Steel, exploring new green H2 uses, SALCOS. HI GERMANY
Sanyo Denki Co. ltd. Cooling units for fuel cells, renewables inverters. FC JAPAN
Scatec ASA Green Hydrogen produced by solar power. GH NORWAY
Schneider Electric SE Gas analysis, automation for advanced H2 storage. HS FRANCE
Screen Holdings Membranes for fuel cells FC JAPAN
Sensata Technologies Sensors, inverters, contactors, etc. for fuel cells. FC USA
Sensirion Holdings Sensors for fuel cells FC SWITZER.
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
Sumitomo Metal Mining Non-ferrous metals and solid state batteries FC JAPAN
Taiyo Yuden SOFC fuel cells-metal supported, capacitors, H2 fuels. HT JAPAN
Takaoka Toko Power to gas for production/storage of H2. HG JAPAN
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
Umicore SA Catalysts and materials, green H2 production, FCs. HG BELGIUM
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
Yara International Green ammonia, H2 catapult aims for H2 <$2/kg. GH NORWAY

 

For Rebalance in latter Q1 2026
Additions for Latter Q1 2026: AGC Inc, Sensata Technologies, Takaoka Toko
Deletion for Latter Q1 2026: Nel Asa, Littelfuse.
Equal Weight = 100/65 = 1.53846% each.
Hydrogen Index Sector #
FUEL CELLS (FC) = 15
GREEN HYDROGEN (GH) = 12
HYDROGEN GENERATION (HG) = 12
HYDROGEN INNOVATION (HI) = 9
HYDROGEN STORAGE (HS) = 8
HYDROGEN in TRANSPORTATION (HT) = 9
TOTAL CONSTITUENTS = 65

 

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