dynaCERT: Expanding into Emerging Markets via Vietnam
The Canadian hydrogen technology supplier dynaCERT appears to be finally gaining a foothold in the “energy-saving systems for internal combustion engines” sector. With its HydraGEN technology, the company is targeting an existing billion-euro market: diesel-powered commercial vehicles. The system generates hydrogen and oxygen directly on board, improves combustion, reduces fuel consumption and CO₂ emissions, and tracks the savings via the HydraLytica telematics platform. Verra certification will also open up access to the international market for CO₂ credits in the future.
Following successful pilot projects, dynaCERT has now received its first production order from a logistics company in Vietnam. At the same time, HydraGEN systems have been installed on trucks and container vehicles operated by one of Vietnam’s largest port operators. This marks the transition from test projects to commercial deployment, and dynaCERT has secured an important reference in the international logistics sector. The market is enormous. More than 10 million heavy- and medium-duty diesel commercial vehicles are currently in use in Southeast Asia. Even a long-term market penetration of just 1% would correspond to around 100,000 installed HydraGEN systems; at 5%, the figure would already be around 500,000 units. Since the retrofit technology can be installed on existing vehicle fleets without modifying the engine, dynaCERT offers a compelling cost advantage over more capital-intensive engine optimization technologies.
To finance its growth, the company completed a private placement of CAD 5 million at the end of June. The funds will be used to expand international sales and to support projects in the transportation, mining, construction, and port industries. With its first production orders from Vietnam and access to the vast ASEAN market, dynaCERT now has the opportunity to establish itself as a retrofit solution for global heavy-duty transportation. The research firm GBC has analyzed the outlook and calculated a 12-month price target of CAD 0.75—representing approximately 500% upside potential from current prices around CAD 0.125!
dynaCERT management explains its Vietnam strategy and planned rollout in emerging markets in an interview with IIF host Lyndsay Malchuk.
ITM Power and Rheinmetall: Energy Security for the Armed Forces
According to Berenberg, the stock of electrolysis specialist ITM Power has now reached a highly attractive entry level following a sharp 50% correction, after an 800% rally since mid-2025. The private bank has nearly doubled its price target from 110 to 200 GBp while maintaining its “Buy” rating on the stock. The “Giga-PtX” project, which is being developed in a strategic partnership with Rheinmetall, is cited as a key driver of the stock’s performance. This alliance represents a strategic turning point for ITM Power, given its focus on self-sufficient energy security for the armed forces. According to the analysts, this new use case differs fundamentally from the European Union’s previous decarbonization goals and opens up new end markets. With this initiative, ITM Power is breaking new ground and significantly diversifying its potential tender pipeline. Analysts on the LSEG Refinitiv platform, however, view the sharp decline in the share price as largely justified and have set a consensus price target of 105 GBp. Whether a buying opportunity still lies ahead is a matter for investors who recognize a genuine growth story in this new line of business.
Siemens Energy and Nordex: Is the Uptrend Coming to an End?
We have frequently highlighted the technical situation at Siemens Energy and Nordex. Our cautious stance is now being reinforced, as both stocks have fallen below key support levels. For Siemens Energy, that was the EUR 150 mark; now the 200-day moving average at EUR 142.50 is looming. Taking a step back, one can also see an SKS formation, which signals further technical downside risks. Breaking below the 100-day moving average at EUR 163 already provided an initial Sell signal. Fundamentally, the LSEG Refinitiv price target remains at EUR 193.77 and is supported by 21 of 26 analysts. However, this could change quickly, as fresh quarterly figures are due on August 5.
Hamburg-based wind power specialist Nordex hit a significant high of EUR 51.50 on April 27. Since that peak, the share price has been consolidating, at times sharply, down to EUR 37. Still, the stock is up 114% over the past 12 months. Here, too, the chart pattern is the same: a drop below the 100-day moving average at EUR 43.75, followed by a slide to EUR 39.50. At least the estimated 2026 P/E ratio of 20 still looks relatively attractive compared to Siemens Energy’s P/E ratio of 34. However, the Munich-based company is expected to see revenue growth of 11 to 15% per year, which will accelerate its 2025/26 revenue of EUR 39 billion to the range of just under EUR 70 billion by 2030/31. Nordex is expected to peak at just over EUR 10 billion in revenue in 2028, as wind energy installations in Europe have already reached high adoption rates. The Q2 results and management’s outlook on July 27 should answer some questions about growth.
The capital markets are currently being tossed about. Unstable political conditions, unpredictable heads of government, and constantly rising inflation figures are weighing on investor sentiment. Whether Kevin Walsh will actually grant Donald Trump’s request for interest rate cuts remains highly questionable in this environment. In the medium term, investments in the alternative energy sector are once again proving attractive. After all, they can offer good diversification compared to other sectors.
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