- Why is it so Hot?
- What can Hydrogen be used for?
- What does that mean for investors?
- What stocks on ASX are renewable resources?
1. Why is it so Hot?
It is no secret, it has exploded this year
As we turn away from non-renewable resources, Australia is desperately trying to find an alternative source which has positive implications for the planet. But you may ask why is there such a boom for it?
Scott Morrison has announced a new plan to spend over $500 million on what he calls “Clean” Hydrogen
Under this new plan The government plans to contribute $275.5 million to the development of five “clean” hydrogen hubs, and another $263.7 million to the development of CCS “projects, hubs, and technologies” under the program.
The plan envisions significant long-term positions for gas and coal, including in hydrogen production, showing that, as the rest of the world ramps up its fight against climate change, the Australian government continues to search for creative ways to protect the fossil fuel industry. For more information on this latest deal click here
2. What Can Hydrogen be used For?
Hydrogen is an energy carrier, not an energy source, and it has the ability to deliver and store enormous amounts of energy.
It can be used to produce electricity, power, and heat in fuel cells. The most popular applications for hydrogen today are petroleum refining and fertilizer processing, with transportation and utilities as emerging markets.
3. What does that mean for investors?
We believe that long term Hydrogen may be the new way of life, and at DavidBeshay we are actively seeking Hydrogen to add to our portfolio list of long term plays. Given the recent rise for some of the current Hydrogen plays such as QEM.ASX and PH2.ASX we believe that it will continue to provide good returns as we seek a renewable energy source.
4. What stocks on ASX are renewable resources?
Below is the list of current ASX companies that are currently in the Hydrogen Renewable energy sector. Just on Friday LIO.ASX had risen 71.05% on market close on a recent announcement regarding a recent raise of 2 million to pursue green Hydrogen strategy which can be
This is all our opinion we have not been sponsored to promote any of these stocks
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