10 ASX Cleantech Stocks (Updated 2024)

Market cap: AU$17.19 billion; share price: AU$27.73

Reece Group is a global leader in wholesale, import and distribution of plumbing, waterworks and HVAC-R products in Australia, New Zealand and the US. Through the Reece Foundation, the company helps to connect trades to communities in need of clean water and sanitation.

During the quarter, the company is one of the two strongest performers in the DACT Water sub-index along with Reliance Worldwide Corp; and the top positive contributor to the Index.

Market cap: AU$13.86 billion; share price: AU$5.36

Meridian Energy is New Zealand’s largest electricity generator with five wind farms, seven hydro power stations and commercial solar arrays.The company is building out a new wind farm in Harapaki, which will be New Zealand’s second largest wind farm. The company also designed and built the Ross Island wind farm, which is located in Antarctica.

Meridian was one of the top positive contributors to the DACT Index during the quarter.

Market cap: AU$11.74 billion; share price: AU$3.90

Pilbara Minerals is one of Australia's largest lithium companies by market cap. Its flagship project is the Pilgangoora project located in the Pilbara region of Western Australia, which produces spodumene and tantalite concentrate.

Pilbara is currently working on multiple expansion projects at Pilgangoora. and targeting a spodumene production increase at the site to 1 million MT per year. The company has long-term agreements with China’s Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460), Great Wall Motor Company (OTC Pink:GWLLF,HKEX:2333), Yibin Tianyi and General Lithium.

Market cap: AU$10.36 billion; share price: AU$6.92

Another of Australia's top lithium producers, Arcadium Lithium is also one of the world's largest lithium companies, with operations and development projects across the Americas, Asia, and the UK. Formed out of the recent US$10.6 billion merger between Allkem and Livent, it has a production capacity of 248,000 MT of lithium carbonate equivalent per year.

Arcadium Lithium produces a wide range of lithium chemicals products derived from hard-rock mining, conventional pond based brine extraction, direct lithium brine extraction (DLE) and lithium chemicals manufacturing.

Market cap: AU$8.97 billion; share price: AU$6.45

Mercury is a New Zealand-based gas, renewable electricity and internet provider.

The company's electricity generation comes from a variety of renewable energy sources, including wind, hydro and geothermal. Mercury's 9 hydro stations are responsible for an average of 10 percent of New Zealand’s annual electricity supply. It also operates five geothermal plants and five wind farms, including the country's largest.

The company was one of the top positive contributors to the DACT Index during the quarter.

Market cap: AU$6.16 billion; share price: AU$7.80

New Zealand-based utility company Contact Energy provides electricity, natural gas, broadband, solar and renewable energy. It owns and operates 11 power stations and produces 80 to 85 percent of its electricity from its renewable hydro and geothermal stations.

Contact Energy recently was the highest of five New Zealand companies to land on the 2023 Dow Jones Sustainability™ Index Asia-Pacific. The company was also the winner of Deloitte's Sustainability Leadership award for leading decarbonisation efforts through its Contact26 strategy, which includes more than $1.2 billion investment in renewable generation projects.

Market cap: AU$5.77 billion; share price: AU$2.59

One of the biggest companies in Australia's waste sector, Cleanaway Waste is an end-to-end e-waste recycler with 250 branches nationwide. The company was one of the top positive contributors to the DACT Index during the quarter.

Cleanaway Waste is well-positioned to offer solutions to the country’s plastic waste challenge as well as the country’s need to become waste self-sufficient after China’s ban on recycling originating from Australia.

Market cap: AU$4.5 billion; share price: AU$5.69

Reliance Worldwide designs, manufactures and supplies high-efficiency water flow and control products. The company is also a global leader in the manufacturer of push-to-connect behind-the-wall plumbing fittings. As its name suggests, Reliance's footprint is worldwide with 29 distribution hubs, 14 manufacturing plants and 5 innovation centres across the Americas, Asia-Pacific, Europe, the Middle East and Africa.

The company is one of the two strongest performers in the DACT Water sub-index for the period along with Reece.

Market cap: AU$2.33 billion; share price: AU$12.07

Sims Metal, a business division of Sims, has established itself as an integral part of the circular economy through buying and recycling scrap metal, including ferrous and non-ferrous metals. The company has more than 200 processing facilities in the United States, United Kingdom and Australasia.

On its website, Sims Metal states that its mission is to "create a world without waste to preserve our planet, is what drives us to constantly innovate and offer new solutions in the circular economy for consumers, businesses, governments and communities around the world."

Market cap: AU$811.76 million; share price: AU$2.68

Nanosonics is an infection prevention company that has developed and commercialised automated disinfection technology. Its Trophon Technology, which includes an ultrasound probe high-level disinfection device, is primarily sold to hospitals.

Nanosonics is currently working to bring its new endoscope reprocessing platform CORIS to market. The CORIS technology platform seeks to address one of the biggest unmet needs: the reprocessing of flexible endoscopes