As part of a review initiated by Air Products’ newly-elected board of directors and CEO, the company decided to exit three projects in the US. As a result, Air Products expects to record a pre-tax charge not to exceed $3.1 billion in its fiscal 2025 second quarter, primarily to write down assets and terminate contractual commitments.
Air Products recently announced the appointment of Eduardo F. Menezes as Chief Executive Officer (CEO) of Air Products effective February 7, 2025, succeeding Seifollah (“Seifi”) Ghasemi, who is leaving the Company after more than 10 years of dedicated service.
Air Products recently completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell for $1.81 billion (€1.63 billion) in cash.
US industrial gases producer Air Products has agreed to acquire Saneg’s hydrogen production assets at the Fergana oil refinery in Uzbekistan for $140 million.
Honeywell and Air Products recently announced that Honeywell has agreed to acquire Air Products’ liquefied natural gas (LNG) process technology and equipment business for €1.67 billion ($1.81 billion) in an all-cash transaction. This represents approximately 13x the estimated 2024 EBITDA.
Air Products and TotalEnergies have entered into a 15-year contract to annually deliver 70,000 tons of green hydrogen in Europe, commencing in 2030. This first long-term agreement is a response to TotalEnergies' tender for 500,000 tons of green hydrogen per year, aimed at reducing carbon emissions from TotalEnergies' European refineries.
Air Products unveiled plans for a carbon capture facility at its Rotterdam plant, intending to generate "blue" hydrogen for ExxonMobil's refinery and other clients. Anticipated to become Europe's largest upon its scheduled completion in 2026, this initiative will play a pivotal role in substantially reducing carbon dioxide emissions in Rotterdam, aligning with the Dutch climate objectives.
Toward bringing global operations under sole family control for the first time since selling the bulk to Hoechst 1965, German industrial gases producer Messer is buying out investor CVC. To finance the plan, the company will sell a stake to Singapore sovereign wealth fund GIC.
Air Products is paying $1 billion to take over a natural gas-to-syngas processing facility in Uzbekistan. The industrial gases producer has signed a deal with the Uzbek government and state-owned energy company Uzbekneftegaz to buy the facility in Qashqadaryo province.
US industrial gases producer Air Products and energy group AES are teaming up to build, own and operate a green hydrogen plant in Wilbarger County, Texas, in the northern part of the state.
Financing for the $12 billion air separation unit gasification/power joint venture between US industrial gases producer Air Products and its Saudi subsidiary Air Products Qudra with Saudi Aramco and ACWA Power has moved forward another notch.
Industrial gases company Air Products and utility group AES have announced plans to invest $4 billion in a mega-scale hydrogen plant, powered by wind and solar energy. The companies said the facility, which will be capable of producing more than 200 t/d, will be the largest green hydrogen plant in the US when it starts up in 2027.
Germany has tapped US industrial gases producer Air Products and Oiltanking Deutschland, part of the Mabanaft group, to realise the country’s first large-scale, green energy project as it transitions toward making hydrogen the backbone of its renewable energy strategy.
Saudi Arabia’s ACWA Power is partnering Korea Electric Power Corp. to jointly develop green hydrogen/ammonia projects. The companies propose to work on projects in the Middle East and other agreed geographies, including decarbonizing KEP’s operations in South Korea.
US industrial gases producer Air Products said it will spend $500 million to build, own and operate a 35 t/d green liquid hydrogen plant at a greenfield site in Massena, New York.
Air Products is strengthening its sustainability goals, pledging to allot at least $4 billion in fresh capital for the transition to clean energy over the next five years. This builds on the more than $11 billion already commited to real zero- and low-carbon hydrogen projects.
Air Products has won a contract from one of the world’s largest semiconductor manufacturers to supply industrial gases to a new production plant in Kaohsiung, Taiwan. Air Products San Fu will invest about $900 million to build, own and operate a number of onsite plants to supply ultra-high purity nitrogen, oxygen, argon and hydrogen.
US multinational gases group Air Products has announced plans to build, own and operate a green liquid hydrogen plant in Casa Grande, Arizona, USA. The zero-carbon facility, which will have capacity of 10 t per day, is expected to go on stream in 2023. It will also include a terminal for distributing the gas to the mobility market in California and other locations.
Learn about the merits of cryo condensation and its unique sustainability for the pharmaceutical industry.
Industrial gases producer Air Products has announced its largest-ever investment in the US, a $4.5 billion clean energy complex in the state of Louisiana’s Ascension Parish. The company will build, own and operate the mammoth facility expected to go on stream in 2026, producing more than 750 million standard cubic feet (22.5 million cubic meters) per day of “blue” hydrogen and blue ammonia.
US industrial gases company Air Products, together with its Saudi-based subsidiary Air Products Qudra, Saudi Aramco and ACWA Power have signed definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit gasification/power joint venture they will operate in Jazan Economic City, Saudi Arabia.
US industrial gases specialist Air Products has bought the remaining 50% equity stake in a gasification technology joint venture it picked up in the 2019 acquisition of GE’s gasification business and technology. Financial terms of the arrangement with China Shenhua Coal to Liquid and Chemical Co., part of China Energy Group, were not disclosed.
US industrial gases producer Air Products has signed a long-term contract to build a new state-of-the-art plant to supply an unnamed manufacturer of memory chips on-site in Malaysia’s Prai Industrial Park at Penang.
US industrial gases group Air Products has signed an agreement with Saudi Arabia’s Acwa Power and the Neom project to build a $5 billion world-scale green hydrogen-based ammonia plant. The facility, which Air Products said would be one of the largest of its kind, will supply 650 t/y of carbon-free hydrogen.
Air Products’ new steam methane reformer (SMR) and cold box have gone on stream at the Huntsman site in Geismar, Louisiana, USA. The US gases group built, owns and operates the facility under a long-term agreement, supplying carbon monoxide (CO), hydrogen and steam.
