<div id="readability-page-1">For more than 30 years, investors have been looking for hydrogen stocks to buy as the pursuit of clean energy has gone from vision to reality. However, while hydrogen holds promise as one of the few “clean” energy alternatives, there are several obstacles that the industry has yet to fully overcome. To begin with, producing hydrogen is expensive, particularly relative to traditional fossil fuels. There are also logistical concerns over storage and transportation, and public acceptance in many areas is lacking. None of these are necessarily insurmountable, but those who jumped into hydrogen stocks believing that a hydrogen future was around the corner are still waiting for the payoff. You can invest in hydrogen through many of the large energy companies, though. These are safer options, but they’re not going to produce 10x growth. For that you need to look at inexpensive stocks, including penny stocks. If that’s the kind of growth you’re looking for, here are three hydrogen stocks to buy. <h2>Plug Power (PLUG) </h2> <div id="2638069"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: T. Schneider / Shutterstock.com</div>The one number you need to know before putting a dollar into Plug Power (NASDAQ:PLUG) is 25%. That’s the percentage of shares being sold short as of the market close on June 11, 2024. That number takes on significance when you look at the PLUG stock chart. Plug Power was part of the meme stock movement in 2021, and while the stock has never returned to those lofty levels, short sellers are still in control. You may notice that PLUG stock is up 14% in the last month. That’s due to a conditional commitment from the U.S. Department of Energy that could be worth $1.66 billion. To put that number into perspective, that’s more than one year of current revenue. However, the deal is being challenged in Congress. And if there is a change in leadership in Washington, the landscape for funding clean energy projects may change. That’s a shame because the company has several active projects and is generating revenue. However, the company also continues to burn cash and profitability seems to be a long way off. Nevertheless, analysts maintain a Hold rating on PLUG stock. <h2>Bloom Energy (BE) </h2> <div id="1706398"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Sundry Photography / Shutterstock.com</div>Bloom Energy (NYSE:BE) is an interesting choice among hydrogen stocks to buy because of its focus on stationary power systems. These are expensive to produce but could represent a 10x opportunity for the company that can deliver. One area where these systems may find a huge addressable market is data centers. Bloom Energy’s home state of California is home to many data centers which may present a long-term opportunity. Bloom also has a partnership with Shell (NYSE:SHEL). The two companies are investigating opportunities for large-scale renewable hydrogen energy projects. However, as with Plug Power, you have to look at the short interest on BE stock which is approximately 17%. That number is a bit more concerning because Bloom Energy stock enjoys 71% institutional ownership. Still, there aren’t many stocks in this, or any other sector, that give you an opportunity tof 10x gains with a fairly small position. Better still, now is the time to start scaling into your position slowly. <h2>Ballard Power Systems (BDLP) </h2> <div id="2287865"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Alexander Limbach / Shutterstock</div>Ballard Power Systems (NASDAQ:BDLP) is one of the best hydrogen stocks to buy because of a recent order for 70 hydrogen fuel cell engines from Wrightbus, a U.S. bus maker. The engines will be used to power buses in the United Kingdom and Germany. There was no dollar amount listed but the company will deliver the engines in 2024. The company is becoming a leader in providing hydrogen fuel cell solutions for heavy duty mobility. In the most recent quarter, Ballard reported receiving $10.6 million in revenue, a 22% year-over-year increase. Europe is a key region in which the company has a backlog. And that may turn out to be an important market. In the United States, hydrogen is one of many renewable energy alternatives being developed. However, there’s no particular sense of urgency. The same can’t be said of Europe which has a stricter regulatory environment and is seeing war on its continent that threatens natural gas supplies. On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.Energy, Renewable Energy, Hydrogen </div>

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Investors have been seeking hydrogen stocks for over 30 years as clean energy becomes a reality. However, challenges remain in terms of cost, storage, transportation, and public acceptance. Large energy companies offer safer investment options, but for significant growth, inexpensive stocks like penny stocks may be worth considering. Three hydrogen stocks to consider are Plug Power (PLUG), Bloom Energy (BE), and Ballard Power Systems (BDLP). Each stock has its own unique opportunities and challenges.

3 Hydrogen Stocks to Turn $100,000 into $1 million: June 2024