Are hydrogen stocks worth buying?

Hydrogen stocks can be worth buying. The global hydrogen industry has tremendous growth potential. The fuel could one day replace natural gas for residential, commercial, and industrial usage. It could also be an important low-carbon fuel for the transportation industry. If hydrogen lives up to its promise, companies focused on the sector could see significant revenue and earnings growth, giving their stocks enough fuel to skyrocket.

Who is the largest hydrogen producer in the United States?

Air Products is the world's largest producer of hydrogen.

What hydrogen stock is Amazon investing in?

In 2022, Amazon (NASDAQ:AMZN) signed a green hydrogen supply deal with Plug Power. The agreement will provide the e-commerce giant with emissions-free fuel to power some of its fleet, starting in 2025. As part of the deal, Amazon received warrants to purchase up to 16 million shares of Plug Power.

Which hydrogen ETF is best?

As of September 2026, one exchange-traded fund (ETF) focused on hydrogen stocks: Global X Hydrogen ETF (NASDAQ: HYDR). The pure-play hydrogen ETF is very small (roughly $100 million of assets under management). It has a reasonable ETF expense ratio (0.5%) and holds about 25 hydrogen stocks.

What sectors are driving growth in hydrogen stocks?

The primary sectors driving growth in hydrogen stocks are energy, technology, and industrials.

Should I invest in individual hydrogen stocks or ETFs?

There are limited investment options in the hydrogen sector. There's only one tiny ETF focused on hydrogen stocks (the Global X Hydrogen ETF), and most pure-play hydrogen companies aren't yet profitable. As a result, the best strategy would be to invest in a basket of several hydrogen stocks. This approach would help limit risk while still enabling you to capitalize on the expected long-term growth of hydrogen demand.

Is now a good time to invest in hydrogen?

Now is a good time to selectively invest in hydrogen. Companies like Bloom Energy are seeing booming demand for their advanced fuel cell systems to support AI data centers. However, demand for other forms of hydrogen isn't as robust due to more challenging market conditions. Given these dynamics, investors should focus on investing in hydrogen companies capitalizing on data center demand.

9 Best Hydrogen Stocks for 2026 and How to Invest

A look at some of the leading hydrogen energy stocks investors should keep an eye on in the coming year.

By Matthew DiLallo – Updated Sep 3, 2026 at 3:34 PM EST | Fact-checked by Frank Bass

Key Points

Hydrogen stocks offer long-term growth potential by decarbonizing heavy industry.
Focus on companies like Bloom Energy, which projects to double its revenue in 2026.
Several project cancellations have plagued the sector in the past year.

Hydrogen stocks -- publicly traded companies that produce hydrogen or manufacture products that use or produce it -- have immense long-term upside potential. Hydrogen is a compelling alternative fuel because it can help decarbonize hard-to-electrify sectors, such as heavy industry, long-haul transport, and potentially power generation and storage. The catch is that producing hydrogen is more expensive, especially for lower-carbon varieties (green hydrogen produced by renewable energy and blue hydrogen produced from natural gas with carbon capture and storage).

That’s why investors should view hydrogen as a long-duration theme: massive potential, but timelines and economics still need work. Here are some of the top stocks in the sector to consider right now.

Loading paragraph...

9 top hydrogen stocks for 2026

Given the vast potential of clean hydrogen, a growing number of companies are investing in the sector. Many energy and industrial companies are in the early stages of building and developing hydrogen energy projects.

Here are nine leading hydrogen companies to watch as this industry emerges.

Loading paragraph...

Ticker Information Table
Name and ticker	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Dividend yield	Industry
Bloom Energy (NYSE:BE)	$69.4 billion	0.00%	Electrical Equipment
Plug Power (NASDAQ:PLUG)	$2.9 billion	0.00%	Electrical Equipment
Linde (NASDAQ:LIN)	$222.3 billion	1.62%	Chemicals
Ballard Power Systems (NASDAQ:BLDP)	$690.5 million	0.00%	Electrical Equipment
Air Products And Chemicals (NYSE:APD)	$67.7 billion	2.37%	Chemicals
Cummins (NYSE:CMI)	$75.1 billion	1.50%	Machinery
FuelCell Energy (NASDAQ:FCEL)	$1.2 billion	0.00%	Electrical Equipment
Itm Power Plc (OTC:ITMPF)	$954.1 million	0.00%	Electrical Equipment
	$679.9 million	0.00%	Oil, Gas and Consumable Fuels

Data as of Sep 4, 2026. Showing 9 of 9 total entries.

Loading ticker_table...

1. Bloom Energy

Loading paragraph...

NYSE: BE

Bloom Energy

Premium Feature

Moneyball Superscore

80/100

Today's Change

(8.41%) $18.27

Current Price

$235.55

Key Data Points

Market Cap

$69B

Day's Range

$212.12 - $238.41

52wk Range

$52.00 - $351.28

Volume

790.1K

Avg Vol

14.6M

Gross Margin

31.22%

Loading company_card...

Loading paragraph...

NASDAQ: PLUG

Plug Power

Premium Feature

Moneyball Superscore

38/100

Today's Change

(0.96%) $0.02

Current Price

$2.11

Key Data Points

Market Cap

$2.9B

Day's Range

$2.07 - $2.13

52wk Range

$1.41 - $4.58

Volume

587.8K

Avg Vol

55.4M

Gross Margin

-1854.57%

Loading company_card...

Plug Power (PLUG +0.96%) is a pioneer in the hydrogen fuel cell industry. It created the first commercially viable market for hydrogen fuel cell technology and has deployed an industry-leading 74,000 fuel cell systems for the e-mobility market (using electric powertrain technologies to power vehicles and fleets).

It's one of the world's largest hydrogen buyers and operates a leading hydrogen refueling network in North America with more than 280 fueling stations. Plug Power is building an end-to-end green hydrogen network to produce, store, and deliver the fuel across North America and Europe.

Plug Power has struggled to fund its operations and growth over the years due to its heavy operating losses. However, cost-cutting initiatives and a refocused growth strategy are starting to deliver results. Plug Power's revenue rose 9% sequentially in the second quarter of 2026, while its gross margin improved to breakeven. That has Plug Power on track to achieve its goals of reaching profitability by the end of 2028.

Loading paragraph...

3. Air Products

Loading paragraph...

NYSE: APD

Air Products And Chemicals

Premium Feature

Moneyball Superscore

54/100

Today's Change

(-1.69%) $-5.23

Current Price

$304.22

Key Data Points

Market Cap

$68B

Day's Range

$302.57 - $311.72

52wk Range

$229.11 - $314.87

Volume

402

Avg Vol

1.2M

Gross Margin

32.11%

Dividend Yield

2.37%

Loading company_card...

Air Products is a global leader in supplying industrial gases and liquefied natural gas (LNG) processing technology and equipment. It's also one of the world's largest suppliers of merchant hydrogen and a leader in hydrogen fuel infrastructure (it won a $140 million contract to provide liquid hydrogen to several NASA facilities in 2026 and a three-year agreement to supply low-carbon liquid hydrogen to the European Space Agency). It has more than 100 hydrogen plants with the capacity to produce 7 million kilograms of fuel each day.

Air Products has completed 90% of the construction of its NEOM Green Hydrogen Project in Saudi Arabia, with production expected to begin by 2027. It finalized a marketing and distribution agreement with Yara for renewable ammonia from that project in July 2026.

However, the company decided to pull the plug on what would have been the world's largest low-carbon energy complex in Louisiana because the returns wouldn't have met its criteria. Air Products also canceled a zero-carbon liquid hydrogen facility in Arizona. It recorded a $2.9 billion pretax charge associated with these project exits in its fiscal 2026 third quarter. These project cancellations show the problems companies are facing in turning hydrogen into profitable growth platforms.

Loading paragraph...

4. Ballad Power Systems

Loading paragraph...

NASDAQ: BLDP

Ballard Power Systems

Premium Feature

Moneyball Superscore

52/100

Today's Change

(2.23%) $0.05

Current Price

$2.29

Key Data Points

Market Cap

$690M

Day's Range

$2.23 - $2.30

52wk Range

$1.85 - $6.57

Volume

3.3K

Avg Vol

5.7M

Gross Margin

14.74%

Loading company_card...

Ballard Power Systems (BLDP +2.23%) is a pioneer in the hydrogen industry. The Canadian company debuted the world's first fuel cell bus more than 30 years ago. Today, Ballard produces zero-emission fuel cells for the electrification of buses, commercial trucks, and marine vehicles, as well as stationary power solutions.

Ballard reported strong second-quarter results in July 2026. Revenue jumped 15% year over year to $21 million, driven by a robust 230% increase in stationery revenue to $1.3 million. It also agreed to buy GeoPura for about $370 million. The deal will establish Ballard as an energy-as-a-service provider by combining its industry-leading fuel cell technology with GeoPura's energy-as-a-service and hydrogen genset leasing model. The deal also supports Ballard's plan to reach profitability by the end of 2027.

Loading paragraph...

5. Linde

Loading paragraph...

NASDAQ: LIN

Linde

Premium Feature

Moneyball Superscore

81/100

Today's Change

(-0.75%) $-3.66

Current Price

$482.19

Key Data Points

Market Cap

$222B

Day's Range

$480.05 - $491.98

52wk Range

$387.78 - $548.20

Volume

2.2K

Avg Vol

2.2M

Gross Margin

37.56%

Dividend Yield

1.62%

Loading company_card...

Linde (LIN -0.75%) has developed several technologies to efficiently compress and safely refuel hydrogen. It also offers technologies to lower carbon emissions through carbon capture and storage.

Linde is building a 100-megawatt renewable hydrogen plant for Shell (SHEL -0.51%) in Germany, which it expects will begin commercial operations in 2027.

In July 2026, Linde's joint venture partner in Taiwan won a contract to supply industrial gases to new semiconductor manufacturing and advanced packaging facilities in the country. The JV will invest about $800 to build, own, and operate several air separation units and hydrogen production units.

While Linde is an early hydrogen leader, it has been skeptical of the sector's near-term growth prospects. The company believes it will take five to seven years for hydrogen technology to mature. As that happens, the industry will be able to approve more commercially viable projects.

6. Cummins

Loading paragraph...

NYSE: CMI

Cummins

Premium Feature

Moneyball Superscore

71/100

Today's Change

(-0.98%) $-5.40

Current Price

$545.50

Key Data Points

Market Cap

$75B

Day's Range

$543.89 - $553.85

52wk Range

$390.11 - $737.76

Volume

1.1K

Avg Vol

Gross Margin

25.13%

Dividend Yield

1.50%

Loading company_card...

Cummins (CMI -0.98%) is a global power solutions company. It produces advanced diesel, natural gas, electric, and hybrid powertrains, as well as powertrain-related parts. Among its solutions are fuel cell and electric power technologies, as well as hydrogen production technologies. Accelera by Cummins is its business segment dedicated to zero-emissions technology, such as fuel cell engines.

In February 2026, Cummins announced that it intends to stop new commercial activity in the electrolyzer space (part of its Accelera segment) due to deteriorating market conditions. The company sold its rail-related hydrogen fuel cell activities to Alstom in April 2026, strengthening the European sustainable mobility giant's hydrogen business. Cummins, like many others in the hydrogen sector, has had to meaningfully temper its expectations for hydrogen adoption over the past year. On a more positive note, Accelera's sales surged 38% in the second quarter to $145 million, driven by strong eMobility demand.

7. FuelCell Energy

Loading paragraph...

NASDAQ: FCEL

FuelCell Energy

Premium Feature

Moneyball Superscore

48/100

Today's Change

(1.88%) $0.27

Current Price

$14.67

Key Data Points

Market Cap

$1.2B

Day's Range

$13.83 - $14.98

52wk Range

$3.81 - $37.88

Volume

154.6K

Avg Vol

11.1M

Gross Margin

-3238.74%

Loading company_card...

FuelCell Energy (FCEL +1.88%) is a global leader in delivering distributed baseload energy (on-site power to provide steady energy to a building). The company's proprietary fuel cell technology includes carbonate fuel cells (powered by natural gas and biofuels) and hydrogen fuel cells. The company also makes carbon recovery and carbon capture systems.

FuelCell Energy has shifted its focus to the data center market in recent months, where it sees significant opportunities for its efficient and resilient power solutions. In July 2026, the company announced a collaboration with Siemens to explore scalable fuel cell power solutions. While its revenue declined by 29% in the second quarter of 2026 to $33 million, its committed backlog ballooned to $1.3 bilion, driven by robust fuel cell demand by data centers.

8. ITM Power

Loading paragraph...

OTC: ITMPF

Itm Power Plc

Today's Change

(-0.72%) $-0.01

Current Price

$1.38

Key Data Points

Market Cap

$954M

Day's Range

$1.32 - $1.40

52wk Range

$0.80 - $2.85

Volume

9.8K

Avg Vol

12.2K

Gross Margin

-9672.74%

Loading company_card...

ITM Power designs and manufactures proton exchange membrane (PEM) electrolyzers to produce green hydrogen. Based in England, ITM has spent the past quarter-century developing the world's most advanced PEM electrolyzer technology. CEO Dennis Shultz believes "green hydrogen will play an important role in the energy transition." That's driving his strategy to become a more focused, more capable technology and manufacturing company to meet the fast-growing demand for green hydrogen.

In August 2026, ITM Power reached a major milestone for its GET H2 Nukleus Power project by successfully producing and delivering green hydrogen from RWE's electrolysis plant in Germany. It's on track to ramp the project towards its full 200 MW commercial capacity.

Loading paragraph...

9. Tidewater Renewables

Loading paragraph...

TSX: LCFS

Tidewater Renewables

Today's Change

(-1.85%) $-0.35

Current Price

$18.61

Key Data Points

Market Cap

$680M

Day's Range

$18.43 - $19.81

52wk Range

$3.30 - $21.27

Volume

18.4K

Avg Vol

29.1K

Gross Margin

21.27%

Loading company_card...

Tidewater Renewables is a renewable fuels company. Its objective is to become Canada's leading producer of renewable fuel.

The company operates a complex for renewable diesel and renewable hydrogen in Canada. The facility produces renewable hydrogen, which it uses in its refinery operations. Tidewater Renewables has also proposed building a sustainable aviation fuel (SAF) facility at that complex, which would use clean hydrogen to produce SAF.

How to invest in hydrogen stocks

Open your brokerage app: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the stock: Enter the ticker into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

Loading paragraph...

Benefits and risks of investing in hydrogen stocks

Some benefits of investing in hydrogen stocks include:

Growth potential: Hydrogen could become a multitrillion-dollar global market in the coming decades, potentially fueling strong gains for top hydrogen stocks.
Cleaner: Hydrogen is a cleaner fuel than oil and natural gas, so investing in the sector can help protect the environment.
Diversification: Investing in the hydrogen sector can help diversify your portfolio.
Income potential: Some hydrogen stocks pay dividends, enabling you to generate some passive income.

Meanwhile, some risks of investing in hydrogen stocks include:

Market challenges: The hydrogen market is highly volatile, driven by price fluctuations and shifting government policies. These and other issues have caused some hydrogen companies to cancel major expansion projects.
Higher-risk companies: Many hydrogen companies have higher risk profiles due to money-losing operations and weaker balance sheets.
Limited direct investment options: There are only a few pure-play hydrogen companies and one hydrogen ETF, limiting investment options for investors.

Methodology: How these stocks were chosen

The hydrogen industry is still emerging, which makes it riskier. One way to mitigate risk is to mix larger, more diversified companies with smaller, hydrogen-focused ones. Large-scale industrial and energy companies see hydrogen as a potential long-term growth driver, making them lower-risk way to invest in the sector. They're good complements to riskier hydrogen fuel cell makers and other more hydrogen-focused companies.

Should you invest in hydrogen stocks?

Hydrogen has enormous long-term potential, helping decarbonize heavy industry, replace natural gas in some applications, and store renewable energy. If the technology scales, it could support a multitrillion-dollar global market.

At the same time, hydrogen is still in its early stages of commercial development. Clean hydrogen remains expensive to produce, and wider adoption depends on cost reductions, infrastructure build-out, and ongoing policy support, all of which can change over time.

Loading paragraph...

Investing in hydrogen stocks: FAQ

Loading faq...

About the Author

Matt DiLallo has been a contributing Motley Fool stock analyst specializing in the energy, industrials, and real estate sectors since 2012. He also covers dividend-paying stocks, pre-IPO companies, ETFs, and other investing topics. He holds an MBA from Liberty University.

TMFmd19

@MatthewDiLallo

Matt DiLallo has positions in Brookfield Asset Management. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Cummins. The Motley Fool recommends Linde. The Motley Fool has a disclosure policy.

9 Best Hydrogen Stocks for 2026 and How to Invest

A look at some of the leading hydrogen energy stocks investors should keep an eye on in the coming year.

Key Points

9 top hydrogen stocks for 2026

1. Bloom Energy

Key Data Points

Key Data Points

3. Air Products

Key Data Points

4. Ballad Power Systems

Key Data Points

5. Linde

Key Data Points

6. Cummins

Key Data Points

7. FuelCell Energy

Key Data Points

8. ITM Power

Key Data Points

9. Tidewater Renewables

Key Data Points

How to invest in hydrogen stocks

Benefits and risks of investing in hydrogen stocks

Methodology: How these stocks were chosen

Should you invest in hydrogen stocks?

Related investing topics

5 Best Energy Stocks for 2026 and How to Invest

3 Best Renewable Energy Dividend Stocks for 2026 and How to Invest

5 Best Oil ETFs for 2026 and How to Invest

5 Best Oil Dividend Stocks for 2026 and How to Invest

Investing in hydrogen stocks: FAQ

About the Author

Read Next

Stocks Mentioned

Motley Fool Stock Advisor’s Latest Pick

Premium Investing Services

5 Best Energy Stocks for 2026 and How to Invest

3 Best Renewable Energy Dividend Stocks for 2026 and How to Invest

5 Best Oil ETFs for 2026 and How to Invest

5 Best Oil Dividend Stocks for 2026 and How to Invest

1. Bloom Energy

3. Air Products

4. Ballad Power Systems

5. Linde

9. Tidewater Renewables

How to invest in hydrogen stocks

Related investing topics

9 top hydrogen stocks for 2026

Key Data Points

Investing in hydrogen stocks: FAQ

Benefits and risks of investing in hydrogen stocks

Methodology: How these stocks were chosen

Should you invest in hydrogen stocks?

Are hydrogen stocks worth buying?

Who is the largest hydrogen producer in the United States?

What hydrogen stock is Amazon investing in?

Which hydrogen ETF is best?

What sectors are driving growth in hydrogen stocks?

Should I invest in individual hydrogen stocks or ETFs?

Is now a good time to invest in hydrogen?

6. Cummins

7. FuelCell Energy

8. ITM Power

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

2. Plug Power