Core Insights - The hydrogen sector is experiencing a significant resurgence, led by Plug Power, which has seen a remarkable turnaround of over 300% in just two months, indicating a broader upward momentum across the industry [1][15]. Company Performance - **Plug Power**: - Achieved a revenue increase of 21% to USD 174 million in Q2 2025, surpassing analyst expectations. The electrolyser business tripled in growth compared to the previous year, implementing over 230 MW of GenEco projects globally [4]. - The stock has seen a revaluation of over USD 5 billion in the last six months, with analysts projecting a price target of USD 7, suggesting a potential upside of at least 100% [4][15]. - **Nel ASA**: - Experienced a 48% decline in revenue to NOK 174 million in the same quarter, primarily due to delays in significant projects. However, the PEM segment reported record revenues and order intake of NOK 290 million, with a solid order backlog of NOK 1.46 billion [5][7]. - Analysts have mixed assessments, with price targets ranging from NOK 2.08 to NOK 4.20, indicating potential for recovery [6]. - **Pure Hydrogen**: - The company generated AUD 409,000 in positive operating cash flow in Q4 2024/2025, with annual revenue climbing to AUD 4.554 million from AUD 1.78 million the previous year. Despite a net loss of AUD 16 million, the revenue momentum suggests a strengthening business model [9][10]. - Recently raised AUD 1 million at AUD 0.085 per share, with the share price doubling since March, indicating favorable market conditions for entry [10]. - **Thyssenkrupp Nucera**: - Reported a 9% revenue increase to EUR 663 million in the first nine months of the 2024/25 fiscal year, with EBIT turning positive at EUR 4 million. The company expects full-year revenue between EUR 850 to 920 million [12]. - Analysts view Nucera as a structurally strong player in the hydrogen sector, with 8 out of 13 analysts giving it a positive outlook and an average price target of EUR 11.95 [13]. Market Trends - The hydrogen sector is benefiting from increasing interest in hydrogen technologies and the shift towards zero-emission solutions, with established companies like Plug Power and Nel ASA showing strong operational performance [7]. - The emergence of new players like Pure Hydrogen, which is diversifying its hydrogen strategy, indicates a growing competitive landscape in the global hydrogen market [8].