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Australia is rapidly positioning itself as a global leader in the hydrogen economy, driven by a strong commitment to net-zero emissions and abundant renewable energy resources. As the clean energy transition accelerates, hydrogen—particularly green hydrogen produced using renewable electricity—is emerging as a crucial element of Australia’s future energy mix. Investors are turning their attention to the Australian Securities Exchange (ASX), where a number of companies are at the forefront of this transformative shift. Here are the key hydrogen stocks fueling Australia’s clean energy revolution.

1. Fortescue Metals Group (ASX: FMG)

Traditionally known as one of the world’s largest iron ore producers, Fortescue is reinventing itself through its clean energy arm, Fortescue Future Industries (FFI). FFI has made significant investments in green hydrogen technology and aims to become a global renewable energy leader. The company is developing large-scale hydrogen production projects both domestically and internationally, with a goal of producing 15 million tonnes of green hydrogen annually by 2030.

Why Watch FMG?
Fortescue offers a unique mix of established revenue from mining with bold green energy ambitions, making it a standout in the ASX hydrogen space.

2. Origin Energy (ASX: ORG)

Origin Energy, one of Australia's largest integrated energy companies, is exploring hydrogen as part of its broader decarbonisation strategy. In partnership with Japan’s Kawasaki Heavy Industries and others, Origin is studying the feasibility of exporting green hydrogen and ammonia from Australia to Asia—a key future market.

Why Watch ORG?
As a diversified energy player with strong infrastructure and government backing, Origin could become a major hydrogen exporter in the Asia-Pacific region.

3. Woodside Energy (ASX: WDS)

While Woodside is known for its oil and gas operations, it has also ventured into clean energy with projects like H2Perth, a proposed large-scale hydrogen and ammonia production facility in Western Australia. This marks a strategic pivot toward low-carbon solutions, leveraging existing expertise in energy infrastructure.

Why Watch WDS?
Investors see potential in Woodside's ability to transition its traditional energy operations into the low-carbon space, including hydrogen.

4. Lion Energy (ASX: LIO)

Lion Energy is a small-cap stock that has pivoted from oil and gas exploration to a dedicated hydrogen strategy. The company is focused on building a green hydrogen production and distribution network, particularly in the transport and mobility sector.

Why Watch LIO?
As one of the few pure-play hydrogen stocks on the ASX, Lion Energy offers high-risk, high-reward potential for investors betting on hydrogen adoption in heavy transport.

5. Pure Hydrogen Corporation (ASX: PH2)

Pure Hydrogen is another ASX-listed company focusing entirely on hydrogen and alternative fuels. The company is developing multiple hydrogen hubs in Australia and exploring hydrogen-powered vehicle technologies through partnerships with global players.

Why Watch PH2?
With a diversified portfolio across production, distribution, and mobility, Pure Hydrogen is among the most active and ambitious hydrogen specialists on the ASX.

Why Hydrogen? Why Now?

Australia is uniquely positioned to be a major player in the global hydrogen market. The country’s vast solar and wind resources make it ideal for producing cost-competitive green hydrogen, while proximity to Asian markets offers major export potential.

The federal and state governments have thrown strong support behind hydrogen, with billions of dollars allocated for infrastructure and R&D. This policy backing, combined with rising global demand for clean fuels, is fueling investor interest in ASX-listed hydrogen companies.

Final Thoughts

Hydrogen stocks on the ASX present an exciting, albeit speculative, investment frontier. From established giants like Fortescue and Origin to dedicated small caps like Lion Energy and Pure Hydrogen, the sector offers a range of exposure options for investors keen to be part of Australia’s clean energy transition.

As global decarbonisation efforts intensify, these companies could be instrumental in turning Australia into a hydrogen superpower.