Hydrogen: Strategic investment in the energy transition

Hydrogen opens up completely new possibilities: it can serve not only as a clean energy carrier but also as an important raw material in industrial processes, as a storage medium for renewable energy, and as an environmentally friendly fuel for transport and shipping. Forecasts by BloombergNEF estimate that the global hydrogen market will reach a volume of over 2.5 trillion US dollars by 2050 – driven by decreasing production costs and massive investments in infrastructure.

Our portfolio specifically invests in companies that play a leading role in the hydrogen value chain. Careful selection ensures an optimal mix of stability and growth potential:

• Technology & Production: Companies such as Bloom Energy, Plug Power, and Ballard Power are pioneers in fuel cells and electrolyzers, benefiting from growing demand for decentralized, low-emission energy systems.
• Industrial Gas Producers: Global market leaders like Linde and Air Products have extensive infrastructure and secure long-term supply contracts for green hydrogen.
• Infrastructure & Equipment: Firms such as Cummins and Vallourec provide essential components for hydrogen production, storage, and transport.
• Energy Providers & Producers: Companies like Iberdrola and Duke Energy drive the integration of hydrogen projects into existing energy systems.
• Transport & Mobility: Innovators like Alstom and Kyocera develop emission-free transport solutions for rail and heavy-duty traffic.
• Chemicals & Materials: Firms like Sumitomo Chemical, Toray Industries, and Enpro utilize hydrogen for CO₂-reduced production and novel materials.

This segment diversity not only provides broad risk diversification but also comprehensive participation in the dynamic growth of the hydrogen economy. The combination of large, established companies with high market capitalization and smaller, innovative firms – such as Bloom Energy with strategic partnerships with Intel and Oracle – allows for a balanced mix of security and dynamic growth.

Another strategic advantage of the portfolio is its global positioning: North America, Europe, and Asia are equally represented, enabling investors to participate in the most significant hydrogen developments worldwide. This is crucial, as the successful scaling of the hydrogen economy requires international cooperation and diverse market opportunities.

Current Portfolio allocation

• Green Hydrogen Production: 18%

• Solution Providers (Technology & Infrastructure): 38%

• Pure Plays: 14%

• Cash: 30%

This underlines the flexibility and the ability to respond quickly to attractive opportunities.

The Hydrogen Portfolio is more than just an investment – it is a strategic participation in one of the most exciting, forward-looking industries in the world. The combination of broadly diversified companies along the entire hydrogen value chain, proven market leaders with high market capitalization, and innovative growth companies offers an excellent balance between stability and high growth potential.

Hydrogen is not just a topic for the future but already an essential driver for the global energy transition and the decarbonization of many key industries today. Market developments, political support programs, and technological advances continuously increase the sector’s attractiveness. At the same time, investors benefit from diversification across various technologies, applications, and geographic regions through a balanced risk-return profile.

The portfolio’s value lies especially in covering the entire value chain – from production through infrastructure to end applications in transport and industry. This comprehensive setup allows participation in all growth areas and helps reduce risks. The global focus on North America, Europe, and Asia opens additional opportunities through international projects and trade flows.

Investing in hydrogen is also a long-term contribution to the urgently needed transition to cleaner energy and a more sustainable economy. Early participation in this megatrend not only offers attractive return opportunities but also makes a positive contribution to climate protection. With a current investment level of 70%, the portfolio demonstrates high flexibility and a readiness to act on attractive opportunities.

Those who recognize the hydrogen megatrend early and rely on a broad, strategically diversified portfolio structure can benefit from the expected dynamic market development – in a promising, sustainable, and innovative sector that will significantly shape the energy supply of tomorrow.

Further Reading: Future Topics Around Hydrogen

• • Green Hydrogen: Engine of Global Decarbonization

  • Fuel Cells and Electric Mobility: The New Generation of Emission-Free Vehicles

  • Infrastructure for Hydrogen: Challenges and Opportunities in Building Transport Networks

  • Innovations in Electrolysis Technology: Key to Efficient Hydrogen Production