Hydrogen Stocks
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Green Hydrogen Market Key Terms


    • A hydrogen electrolyzer is a device that uses electricity to split water molecules (H2O) into their constituent elements, hydrogen (H2) and oxygen (O2).
        • Water → Hydrogen + Oxygen
    • The electrolyzer consists of an anode and a cathode submerged in water, connected to a power source.
    • Electrolyzers powered by renewable energy create "Green Hydrogen".

Fuel Cells

  • A fuel cell an electrochemical device that generates electricity by combining hydrogen (H2) and oxygen (O2) to produce water (H2O) as a byproduct.
      • Hydrogen + Oxygen → Electricity
  • It operates through a chemical reaction that occurs at the electrodes, with hydrogen being oxidized at the anode and oxygen being reduced at the cathode.
  • This reaction generates a flow of electrons that can be harnessed as electrical energy.

Green Hydrogen

  • Hydrogen gas produced through electrolysis, using renewable energy sources such as wind, solar or hydro power.
  • This process does not emit any carbon dioxide, making green hydrogen a "zero-carbon" fuel.

Blue Hydrogen

  • Hydrogen gas produced from natural gas through steam methane reformation (SMR).
  • If the carbon dioxide emissions generated from this process are captured and stored underground, the hydrogen is considered to be "blue hydrogen".

Grey Hydrogen

  • Hydrogen gas produced from natural gas through a process known as steam methane reformation (SMR), without capturing the carbon dioxide emissions.
  • "Grey hydrogen" is the most common and most polluting form of hydrogen.

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Green Hydrogen Investing FAQ

What are the different types of hydrogen electrolyzers?
Alkaline electrolyzers
    • The most common type of electrolyzer.
    • They use an aqueous solution of potassium hydroxide (KOH) as the electrolyte.
    • Alkaline electrolyzers are relatively inexpensive and easy to operate.
    • However, they are not as efficient as other types of electrolyzers.

Proton Exchange Membrane (PEM) electrolyzers

    • Use a solid polymer electrolyte.
    • PEM electrolyzers are more efficient than alkaline electrolyzers, but they are also more expensive.
    • PEM electrolyzers are well-suited for applications where high purity hydrogen is required, such as fuel cells.

Solid Oxide electrolyzers (SOE)

    • Use a solid oxide electrolyte.
    • The most efficient type of electrolyzer, but also the most expensive.
    • Well-suited for applications where high purity hydrogen is required and where the electrolyzer must operate at high temperatures.
        • For example in conjunction with renewable energy sources like solar or wind power.
What raw materials are required for the green hydrogen industry?


    • Nickel is a key component in many hydrogen production technologies, including water electrolysis and steam methane reforming.
    • It is used as a catalyst in these processes, which helps to speed up the reaction and produce hydrogen more efficiently.


    • Platinum is also a key component in some hydrogen production technologies, including fuel cells.
    • It is used as a catalyst in these processes, which helps to convert hydrogen and oxygen into electricity.


    • Other important minerals for hydrogen production include zirconium, lanthanum, yttrium, palladium, and iridium.
    • These minerals are used in a variety of applications, including the production of hydrogen fuel cells, electrolysers, and storage tanks.
What are the main uses of hydrogen in the energy transition?
  • Fuel cells for electric vehicles and other transportation applications
  • Hydrogen boilers and heat pumps for heating and cooling buildings
  • Hydrogen-fired power plants for generating electricity
  • Hydrogen as a feedstock for the production of ammonia and other chemicals
  • Blending of hydrogen into existing natural gas pipelines

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