The ASX Australian Cleantech sector is soaring, having posted a 36% gain in the last three years.
The ASX Cleantech sector consists of 64 stocks, including Neometals,Galaxy, and Orocobre, all now in production.
The 64 company ASX Cleantech Index has gained 36% in the last three years, outperforming other indexes in anticipation of growing world demand for lithium for the lithium-ion battery, where demand is due to increase exponentially..
Several lithium explorers and emerging producers have soared this year, as energy-storage technology has become the latest hot sector in renewable energy, and sparked renewed investor interest in global cleantech companies.
After years of heavy losses, Australian cleantech stocks are collectively delivering strong returns and outperforming the stock market – a remarkable turnaround for a sector that has had many false starts and been battered by regulatory uncertainty.
“We are seeing a clear turning point in the listed cleantech sector,” says John O’Brien, managing director of Australian CleanTech and publisher of the ACT index. Smart Investor Weekend analysis of the 30 largest cleantech stocks shows strong price gains.
Lithium producers Galaxy Resources, Orocobre and Neometals have all soared amid investor expectations of rising demand for lithium-ion batteries, principally for electric vehicles.