Air Products Pushes for Global Blue, Green Hydrogen Growth
Attachment: Air Products 4Q24
Researched by Industrial Info Resources (Sugar Land, Texas)--Despite stronger prices and volumes, Air Products and Chemicals Incorporated (NYSE:APD) (Lehigh Valley, Pennsylvania) took a hit in its recently ended quarter, with sales dipping slightly from the same period in 2022. But the industrial gas producer is optimistic about its future in the hydrogen-production market, where it has numerous big-ticket projects in the works.
Industrial Info is tracking more than $13.8 billion worth of active and planned projects from Air Products globally, more than 85% of which is attributed to projects in the U.S. and Canada that have a medium-to-high probability (70% or more) of beginning construction as currently scheduled. Air Products' heaviest investments across the U.S. and Canada are geared toward "blue" and "green" hydrogen-production projects. "Blue" facilities are designed to produce hydrogen with natural gas using carbon-capture and storage (CCS) technology to negate the effects of emissions, while "green" produces hydrogen using electrolyzers powered by renewable energy sources.
Other companies featured: Imperial Oil Limited, ACWA Power and Thyssenkrupp
