Hydrogen is considered a key technology for the energy transition. It enables decarbonization in sectors where electrification is difficult to implement – such as heavy industry, transport, and energy storage.

Market potential: Forecasts expect the global hydrogen market to grow by 20–30% annually over the coming years.
Drivers: Government support programs, declining production costs for green hydrogen, increasing demand for emission-free solutions, and regulatory requirements for CO₂ reduction.
Relevance: Companies in the hydrogen sector position themselves as enablers of the sustainable energy future.

Investment case

The Hydrogen Portfolio focuses on companies along the entire value chain of the hydrogen ecosystem.

Uniqueness: Investments in producers, infrastructure providers, and solution developers with a clear focus on growth and technological leadership.
Attractiveness: High scalability, broad range of applications, and strong political support create an exceptionally dynamic market environment.
Focus: Companies with technological leadership, solid partnerships, and a clear expansion strategy.

Investment Strategy

The portfolio follows a clearly structured and fact-based approach.

Selection principle: Focus on companies with above-average revenue growth and innovation capacity.
Diversification across value chain stages:
- Production of green hydrogen
- Storage and transport
- Fuel cell and electrolysis technologies
- Industrial applications and mobility
Methodology: Combination of bottom-up analysis, momentum-driven selection, and a sector overlay to systematically identify the most promising growth opportunities.

Risk Management

The hydrogen industry offers enormous potential but is also associated with higher volatility.

Market risks: Dependence on regulatory frameworks, fluctuations in subsidy programs, and high valuation sensitivity.
Technology risks: Competitive pressure from alternative energy technologies, the breakthrough capability of innovations, and uncertainties regarding scalability.
Our control measures:
- Strict adherence to selection criteria
- Combination of stable market leaders and dynamic niche players
- Broad diversification across themes, regions, and market capitalizations
- Continuous monitoring of fundamental and technical indicators
- Systematic momentum screening (absolute and relative momentum)

Conclusion

The Hydrogen Portfolio provides investors with the opportunity to participate in one of the most important growth areas of the energy transition. The combination of strong market potential, clear structural drivers, and a disciplined investment process makes it an attractive solution to seize the opportunities of global transformation toward an emission-free economy.

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