The Biden win turned the mood surrounding the renewable energy market into that of excitement and optimism from what it has been under the Trump administration.
The market is already reflecting this inevitable reality, as renewable energy stocks are currently one of the hottest stocks in the market. And Biden has made no secret of his intention to lead the transition of the United States from reliance on fossil fuels to renewables.
Investors are currently moving their assets away from fossil-fuel producers to renewable energy companies, and hydrogen stocks are one of the hottest destinations for investors looking to invest in renewables.
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The prospects of hydrogen-powered cars and trucks are becoming more attainable as a result of technological advancement in recent years.
Hydrogen fuel cell technology has been used successfully in many other industries and the technology could be deployed to develop hydrogen fuel cell vehicles (HFCVs).
HFCVs may very well be the immediate alternative to fossil fuel cars before the EV battery limitation is fully reesolved.
Moreover, renewable hydrogen, which can replace fossil fuel in sectors that are struggling to decarbonise, is seen as a way to meet goals to reduce emissions.
Check out these promising EV battery stocks.
The major companies powering this revolutionary push are Bloom Energy, Ballard Power System, Plug Power, Cummins, Air Products & Chemicals, and FuelCell Energy, and they are the best hydrogen stocks to invest in for the HFCV revolution.
However, these stocks are not cheap, FuelCell Energy is the only stock that is currently under $10.
So if penny stocks are your thing as a trader, these stocks might not be best for you. Not to worry, the stocks listed below are cheap and cost pennies, for now.
Note: Trading stocks listed in the OTC Markets is risky as the market is not well-regulated, check out the disadvantages of trading penny stocks.
If you are interested in trading hydrogen penny stocks, here are 6 cheap hydrogen stocks under $10 and $5 to consider:
1. FuelCell Energy, Inc. (NASDAQ: FCEL)
FuelCell Energy, Inc. engages in the development, design, production, construction and servicing of high temperature fuel cells for clean electric power generation.
It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant.
The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.
It provides solutions for various applications, including utility-scale distributed generation, on-site power generation, combined heat and power, distributed hydrogen, carbon capture and hydrogen-based long duration storage.
The Company’s platform has the differentiating ability to do all these applications utilizing multiple sources of fuel including natural gas, renewable biogas, and propane among others sources.
2. Westport Fuel Systems (NASDAQ: WPRT)
Westport Fuel Systems Inc. engineers, manufactures, and supplies alternative fuel systems and components for use in transportation applications worldwide.
It operates through Transportation and Cummins Westport Inc. (CWI) Joint Venture segments. The company offers alternative fuel systems and components, which include a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.
It also provides Westport High Pressure Direct Injection 2.0, a fully integrated system that powers compression ignition engines by natural gas, which reduces greenhouse gas emissions.
In addition, the company develops, sells, and markets spark-ignited natural gas or propane engines; and CWI engines for transit, school and shuttle buses, conventional trucks and tractors, refuse collection trucks, and specialty vehicles, such as short-haul port drayage trucks and street sweepers.
Its products and services are used for passenger cars; light-, medium-, and heavy-duty trucks; and horsepower, cryogenics, and hydrogen applications. Westport Fuel Systems Inc. markets its products primarily under the Cummins Westport, BRC, Westport, OMVL, Prins, GFi Control systems, Emer, Zavoli, TA Gas Technology, Valtek, and AFS brands.
The company was formerly known as Westport Innovations Inc. and changed its name to Westport Fuel Systems Inc. in June 2016. Westport Fuel Systems Inc. was founded in 1995 and is headquartered in Vancouver, Canada.
3. ITM Power Plc (OTCMKTS: ITMPF)
ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, France, Italy, the Netherlands, and the United States. It offers HGas for power-to-gas, clean fuel, and industrial hydrogen applications.
The company is also involved in the research and development of scientific and engineering projects; development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.
In addition, it operates 15 hydrogen refueling stations.
ITM Power Plc was founded in 2001 and is headquartered in Sheffield, the United Kingdom.
4. SunHydrogen (OTCMKTS: HYSR)
SunHydrogen, Inc. engages in the generation and marketing of renewable energy. It develops a novel solar-powered nanoparticle system that mimics photosynthesis to separate hydrogen from water.
It also intends for technology of this system to be licensed for the production of renewable hydrogen to produce renewable electricity and hydrogen for fuel cells.
The company was formerly known as HyperSolar, Inc. and changed its name to SunHydrogen, Inc. in June 2020. SunHydrogen, Inc. was founded in 2009 and is based in Santa Barbara, California.
5. AFC Energy Plc (OTCMKTS: AFGYF)
AFC Energy plc develops and demonstrates alkaline fuel cell systems for the generation of clean energy in the United Kingdom and Germany.
Its fuel-cell systems convert hydrogen into electricity.
The company’s products include HydroX-Cell(L) systems, HydroX-Cell(S) stacks, AlkaMemTM, a conductive and robust membrane technology for sale or licensing into ancillary market applications; and auxiliary equipment, such as ammonia crackers, water electrolyzes, invertors, battery storage equipment, battery management systems, and fuel storage products.
AFC Energy was incorporated in 2006 and is based in Cranleigh, the United Kingdom.
6. Cell Impact (FRA: ICL)
Cell Impact AB engages in the manufacture and distribution of machines and hydraulic press units.
Its products are used to shape, emboss, cutoff, blank, pierce, compact, and shear material by using high kinetic energy.
The firm also offers production of bipolar plates for fuel cells and heat exchanger plates.
The company was founded on October 1, 1999 and is headquartered in Karlskoga, Sweden.
Note: Cell Impact trades at the Frankfurt Stock Exchange in Germany, ensure that your broker allows you to buy stocks from international markets.