7 hydrogen fuel cell stocks to watch

Considering investing in hydrogen fuel cell stocks? While the best hydrogen fuel cell stocks depend on your portfolio and investment goals, we've identified some hydrogen fuel cell stocks that are worth keeping an eye on in the alternative energy sector. Keep reading to learn more about hydrogen fuel cell stocks and how to start investing.

7 popular hydrogen fuel cell stocks to watch

We round up a selection of stocks in or related to the alternative energy industry, weighting the list more heavily towards popular mid- and large-cap stocks.

Best stock	1-year return	Market cap	Exchange	Volume	Buy now on CIBC Investor's Edge
Plug Power (PLUG.US)	(data unavailable)	$2.7 billion (USD)	NASDAQ	(data unavailable)	Buy now
FuelCell Energy (FCEL.US)	(data unavailable)	$305.6 million (USD)	NASDAQ	(data unavailable)	Buy now
Ballard Power Systems (BLDP.US)	(data unavailable)	$803 million (USD)	NASDAQ	(data unavailable)	Buy now
Dow (DOW.US)	-43.68% Dow's 1-year return based on the closing price as of December 5, 2024.	$16.9 billion (USD)	NYSE	10,395,400	Buy now
Air Products and Chemicals (APD.US)	-19.14% Air Products and Chemicals's 1-year return based on the closing price as of December 5, 2024.	$58.1 billion (USD)	NYSE	1,465,397	Buy now
Linde plc Ordinary Shares (LIN.US)	-8.79% Linde plc Ordinary Shares's 1-year return based on the closing price as of December 5, 2024.	$192.4 billion (USD)	NASDAQ	1,957,606	Buy now
Bloom Energy (BE.US)	(data unavailable)	$25.8 billion (USD)	NYSE	(data unavailable)	Buy now

The values in this table are accurate as of the market close on December 4, 2025, or the most recent data available. Volume refers to the number of shares traded during the day.

What to look for when investing in hydrogen fuel cell stock

The alternative energy industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering hydrogen fuel cell stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Also keep in mind that, while volatility can be ideal for day traders, long-term investors will want to look for stocks to offer steadier gains over time.

How to invest in hydrogen fuel cell stock

1. Research the alternative energy industry. Before investing, learn about the hydrogen fuel cell stock sector, its trends and the companies within it. Look at each company's financial health, potential for growth and past performance to identify stocks that fit your investment goals.
2. Choose a stock trading platform. Compare trading fees, access to trading tools and user interface options. We've identified reliable trading platforms to help narrow down your options below or check out the best stock trading apps in Canada to find one that suits your needs.
3. Open and fund your account. Sign up with your personal details and link a bank account or funding method to deposit money before you start trading.
4. Select the hydrogen fuel cell stock(s) to buy. Search by company name or ticker symbol, like PLUG or FCEL. Compare key metrics such as market cap, price history and earnings per share to pick the best stock for your strategy.
5. Buy the stock and monitor performance. Place your order to buy the stock and track its performance over time. Consider setting alerts, signing up for industry newsletters or using platform research tools to stay up to date on market changes.

Our top picks for where to buy hydrogen fuel cell stocks

Are hydrogen fuel cell stocks a good investment?

While it's possible to turn a profit investing in hydrogen fuel cell stocks, keep in mind that—like any investment—hydrogen fuel cell stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the alternative energy industry, so carefully vet your picks before you invest.

What are the best hydrogen fuel cell stocks?

A lot of factors go into picking the best hydrogen fuel cell stocks. Stock performance can be impacted by factors like market conditions, company decisions and global events. Plus, what may be a strong hydrogen fuel cell stock investment for one person might not be suitable for another.

That said, we rounded up this list of popular hydrogen fuel cell stocks in or related to the alternative energy industry to help narrow down your options:

• Plug Power (PLUG)
• FuelCell Energy (FCEL)
• Ballard Power Systems (BLDP)
• Dow (DOW)
• Air Products and Chemicals (APD)
• Linde plc Ordinary Shares (LIN)
• Bloom Energy (BE)

Keep in mind that this is not a "best" list or a recommendation. It highlights some hydrogen fuel cell stocks for informational purposes only and does not indicate past or future performance or investment advice. We do not guarantee any investment performance.

We've outlined detailed company and stock performance details for each hydrogen fuel cell stock below. Keep reading to decide if any of these companies are the right investment for you.

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Plug Power (PLUG)

Plug Power Inc. develops hydrogen fuel cells product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; and Progen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems.

Market Capitalization The total market value of Plug Power's outstanding shares	$2.7 billion
Gross profit (TTM)	$-478,036,000
Revenue (TTM)	$676.2 million
Earnings per share (TTM)	-$2.38
52-week stock price range	$0.69 – $4.58

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 4, 2025.

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FuelCell Energy (FCEL)

FuelCell Energy, Inc. , together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.

Market Capitalization The total market value of FuelCell Energy's outstanding shares	$305.6 million
Gross profit (TTM)	$-29,429,000
Profit margin	-130.81%
Revenue (TTM)	$152.5 million
Earnings per share (TTM)	-$9.49
52-week stock price range	$3.58 – $13.98

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 4, 2025.

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Ballard Power Systems (BLDP)

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary power, and emerging market, such as material handling, off-road, and other applications.

Market Capitalization The total market value of Ballard Power Systems's outstanding shares	$803 million
Gross profit (TTM)	$-3,368,000
Profit margin	-132.80%
Revenue (TTM)	$90.3 million
Earnings per share (TTM)	-$0.40
52-week stock price range	$1.00 – $4.10

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 4, 2025.

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Dow (DOW)

Dow Inc. , through its subsidiaries, provides various materials science solutions for packaging, infrastructure, mobility, and consumer applications in the United States, Canada, Europe, the Middle East, Africa, India, the Asia Pacific, and Latin America. The company operates through Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings segments.

Closing stock price	$23.76
Market Capitalization The total market value of Dow's outstanding shares	$16.9 billion
Gross profit (TTM)	$3 billion
Profit margin	-2.77%
Revenue (TTM)	$40.9 billion
Earnings per share (TTM)	-$1.61
52-week stock price range	$19.82 – $40.98

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 2, 2025.

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Air Products and Chemicals (APD)

Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, metals, manufacturing, electronics, energy production, medical, food, chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing.

Closing stock price	$260.35
Market Capitalization The total market value of Air Products and Chemicals's outstanding shares	$58.1 billion
Gross profit (TTM)	$3.8 billion
Profit margin	-3.28%
Revenue (TTM)	$12 billion
Earnings per share (TTM)	-$1.75
52-week stock price range	$235.55 – $334.71

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 2, 2025.

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Linde plc Ordinary Shares (LIN)

Linde plc operates as an industrial gas company in the United States, China, Germany, the United Kingdom, Australia, Mexico, Brazil, and internationally. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, acetylene, etc. The company also designs and constructs turnkey process plants for third-party customers, as well as for the gas businesses in various locations consist of air separation, hydrogen, synthesis, olefin, and natural gas plants.

Closing stock price	$409.15
Market Capitalization The total market value of Linde plc Ordinary Shares's outstanding shares	$192.4 billion
Gross profit (TTM)	$16.3 billion
Profit margin	21.17%
Revenue (TTM)	$33.5 billion
Earnings per share (TTM)	$14.94
52-week stock price range	$406.06 – $484.83

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 2, 2025.

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Bloom Energy (BE)

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. It offers Bloom Energy Server, a power generation platform to convert fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion. The company also provides Bloom Electrolyzer for producing hydrogen.

Market Capitalization The total market value of Bloom Energy's outstanding shares	$25.8 billion
Gross profit (TTM)	$566.8 million
Profit margin	0.84%
Revenue (TTM)	$1.8 billion
Earnings per share (TTM)	$0.08
52-week stock price range	$15.15 – $147.86

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on December 4, 2025.

Compare trading platforms to buy hydrogen fuel cell stock

Compare special offers, low fees and a wide range of investment options among popular trading platforms in Canada. Note that the dollar amounts in the table below are in CAD.

Related: Compare the best stock trading platforms in Canada

Bottom line

If you're considering adding hydrogen fuel cell stocks to your portfolio, make sure you thoroughly look into any companies before investing to help mitigate risk. We've compiled a list of hydrogen fuel cell stocks to help narrow down your options. Then choose a legitimate stock trading platform to start investing. After that it comes down to monitoring the alternative energy industry to know when to buy, sell or hold.

Related: How to buy stocks in Canada

Frequently asked questions about hydrogen fuel cell stocks

• What are hydrogen fuel cell stocks?

  Hydrogen fuel cell stocks are shares of companies that either directly work in the hydrogen fuel cell sector or operate within related industries. Investors interested in buying hydrogen fuel cell stocks may be looking to take advantage of market trends or lock in investments for the long haul.

• What is the top hydrogen fuel cell stock to buy in 2025?

  Unfortunately, it's almost impossible to choose a single "top" hydrogen fuel cell stock to invest in due to factors like market fluctuations, company management and shifting economic trends. These can all change—sometimes overnight—how a stock performs. It's best to do your own research to decide which companies fit within your risk tolerance. Reviewing a company's financial reports and past stock performance can help you decide if it's worth investing in.

• Where can I find information and regular updates about the alternative energy industry?

  You can keep track of the latest alternative energy news and updates by signing up for financial newsletters, visiting financial news sites, reading company investor relations pages and using market research platforms. Many online brokerages also offer sector reports, stock screeners and alerts to help you track movements in your stock performance or updates in or related to the alternative energy industry.

Check these other commodities and investment sectors

If you're thinking about diversifying your portfolio and investing in sectors beyond hydrogen fuel cell stocks, here are some others you can consider:

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