Fortescue Metals Group has aggressively expanded into the hydrogen space, acquiring significant resources towards developing green hydrogen as part of its net zero emissions strategy. Through Fortescue Future Industries (FFI), the company plans to become a leading supplier of green hydrogen by establishing green hydrogen plants and renewable energy sources. This initiative makes the company a top choice among hydrogen stocks on the ASX for investors looking to gain exposure in the hydrogen market.

The company signed a $2.8 billion partnership with Liebherr to jointly develop and validate a range of zero emission solutions. Fortescue metals group showed a cash balance of $3.4 billion as of September 2024. The company's FY25 guidance goals include a capital expenditure of $3.2 billion to $3.8 billion. Fortescue metals group has secured partnerships for producing hydrogen and exporting green hydrogen globally. The company's total exploration and studies capital expenditure was $80 million in the first quarter of FY25. Their ongoing plans to collaborate on global energy ventures will be a significant milestone for the company and thus will improve their performance in the upcoming financial year.

The company aims to reduce its reliance on iron ore by focusing on hydrogen production and renewable energy stocks, aligning with the global shift towards sustainability. Fortescue metals group thrives as a promising opportunity for the investors looking to gain profits in the long-term.

Woodside Energy, a well-established player in natural gas, is diversifying its energy portfolio with a keen focus on hydrogen projects. As part of its strategy to transition to low emission hydrogen solutions, Woodside is working on blue hydrogen projects, which utilize carbon capture and storage to reduce carbon dioxide emissions during production.

The company reported a net profit after ta of $1937 million for the first half of financial year 2024. Woodside Energy also showed an operating cash flow of $2393 million and a positive free cash flow of $740 million in the same time period. The company showed great potential when it distributed dividends worth of $1310 million to its shareholders. With a whopping 136% increase in free cash flow during the first half of FY2024 than the first half of FY23, the company has an impressive track record in the natural gas industry. Woodside's focus includes both blue hydrogen and green hydrogen production, catering to varied needs within the hydrogen industry.

The company is focused on developing their flagship blue hydrogen project and start production soon. This includes partnerships in methane pyrolysis and pilot energy projects for hydrogen produced from natural gas. By balancing renewable energy and green hydrogen investments, Woodside seeks to provide economically competitive hydrogen technology, ensuring its role in the hydrogen economy.

Origin Energy is pursuing green hydrogen initiatives to capitalize on Australia’s naturally available advantages in renewable energy. The company has partnered with others to develop large-scale green hydrogen production projects that caters to the increasing hydrogen demand in industrial processes and fuel cell vehicles.

The company showed an underlying profit of $1183 million in FY24, which is a significant increase from its $747 million in FY23. Origin Energy stated their adjusted free cash flow of $1296 million in FY24. This factor is again a major increase from $965 million quoted in FY23. Due to the higher earnings from energy markets and integrated gas plants, the company was able to show an underling EBITDA to $3528 million. This company is financially healthy because they issued around 73% of FY24 free cash flow as final dividend which are fully franked.

Origin’s projects are designed to support both domestic and export markets for hydrogen, with ambitious plans to scale its green hydrogen capabilities. As a major player in renewable energy stocks, Origin is committed to reducing greenhouse gas emissions and advancing its green hydrogen strategy, making it a strong candidate among top ASX hydrogen stocks.