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Released November 04, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Higher prices and increased volumes were a blessing to industrial gas producer Air Products and Chemicals Incorporated (NYSE:APD) (Lehigh Valley, Pennsylvania), which attributed much of its recently quarterly growth to the booming market for hydrogen. The company is vowing to invest $15 billion through 2027 on zero- and low-carbon hydrogen projects. Industrial Info is tracking more than $7 billion worth of active projects from Air Products across the U.S. and Canada, including nearly $6.5 billion worth related to the production or treatment of hydrogen.
Click on the image at right for a heat map of Air Products' active projects across the U.S., from Industrial Info's Geolocator tool.
Last month, Air Products announced plans to build, own and operate a 35 metric-ton-per-day green liquid hydrogen plant in Massena, New York, including distribution and dispensing operations. The "Power-to-X" project, which the company expects to achieve commercial operations in 2026-27, received support in July from the New York Power Authority board, which granted it 94 megawatts (MW) of hydroelectric power supply from the St. Lawrence River. Air Products expects product from the facility to be sold to the commercial transportation market in New York State, and potentially other markets in the industrial northeast.
"Demand for green hydrogen for mobility and industrial applications is expected to grow significantly in the [U.S.] northeast, as a result of the New York-led multi-state agreement to develop a proposal to become one of the regional clean hydrogen hubs," Air Products said in a press release. The company cited the federal Clean Hydrogen Hubs Program and New York State's adoption of a new Advanced Clean Trucks rule as driving much of the demand. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can learn more from Industrial Info's detailed project report.
One green hydrogen project in a more advanced stage of development is Air Products' $100 million plant in Casa Grande, Arizona, which is expected to produce 10 tons per day for liquefaction. The facility is expected to be operational toward the end of 2023, and its product is to be sold to the transportation market in California and other regions with a demand for zero-carbon hydrogen. Subscribers can learn more in a detailed project report.
Other hydrogen projects from Air Products can be found along the always-busy U.S. Gulf Coast. In August, the company began construction on a $194.1 million natural gas-to-hydrogen unit addition at its industrial gas plant in La Porte, Texas. The facility is expected to produce 33 million standard cubic feet per day of hydrogen and 18 million standard cubic feet per day of carbon monoxide. Subscribers can learn more in a detailed project report.
The company also is preparing to begin construction in first-quarter 2023 on a hydrogen-purification plant at its Cedar Bayou complex in Baytown, Texas. The facility will receive hydrogen-rich waste from a dehydrogenation unit at Chevron Phillips Chemical Company LLC's (The Woodlands, Texas) Cedar Bayou Olefins & Resins Plant, and its product will be sold through a regional pipeline system. Subscribers can learn more in a detailed project report.
Air Products also made strides during the past quarter in Canada, where it signed a long-term supply contract with Imperial Oil Limited's (Calgary, Alberta) proposed Strathcona renewable diesel complex, with Air Products supplying about half the low-carbon hydrogen output from its US$1 billion net-zero hydrogen energy complex in Edmonton, Alberta. The facility is expected to wrap up in 2025, with a long-term capacity goal of 1,500 metric tons per day of net-zero hydrogen. The project design also includes carbon sequestration and the construction of a hydrogen-fueled power plant. Subscribers can learn more in a detailed project report and from Industrial Info's September 7, 2022, article - Imperial to Use Air Products' Hydrogen for Renewable Diesel.
Air Products expects its capital expenditures to be between $5 billion and $5.5 billion for its 2023 fiscal year, which started in October. The company's fourth-quarter 2022 sales of $3.6 billion represented a 26% increase from the same period in fiscal 2021. The top three reasons cited, respectively, were higher energy cost pass-through (that is, fees paid to Air Products for maintaining its systems), higher volumes and higher pricing.
However, higher overall costs, including the company's divestment of its Russian business, led to net income of $593 million, which was down 4% from the same period last year.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on active projects from Air Products across the U.S. and Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a heat map of Air Products' active projects across the U.S., from Industrial Info's Geolocator tool.Last month, Air Products announced plans to build, own and operate a 35 metric-ton-per-day green liquid hydrogen plant in Massena, New York, including distribution and dispensing operations. The "Power-to-X" project, which the company expects to achieve commercial operations in 2026-27, received support in July from the New York Power Authority board, which granted it 94 megawatts (MW) of hydroelectric power supply from the St. Lawrence River. Air Products expects product from the facility to be sold to the commercial transportation market in New York State, and potentially other markets in the industrial northeast.
"Demand for green hydrogen for mobility and industrial applications is expected to grow significantly in the [U.S.] northeast, as a result of the New York-led multi-state agreement to develop a proposal to become one of the regional clean hydrogen hubs," Air Products said in a press release. The company cited the federal Clean Hydrogen Hubs Program and New York State's adoption of a new Advanced Clean Trucks rule as driving much of the demand. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can learn more from Industrial Info's detailed project report.
One green hydrogen project in a more advanced stage of development is Air Products' $100 million plant in Casa Grande, Arizona, which is expected to produce 10 tons per day for liquefaction. The facility is expected to be operational toward the end of 2023, and its product is to be sold to the transportation market in California and other regions with a demand for zero-carbon hydrogen. Subscribers can learn more in a detailed project report.
Other hydrogen projects from Air Products can be found along the always-busy U.S. Gulf Coast. In August, the company began construction on a $194.1 million natural gas-to-hydrogen unit addition at its industrial gas plant in La Porte, Texas. The facility is expected to produce 33 million standard cubic feet per day of hydrogen and 18 million standard cubic feet per day of carbon monoxide. Subscribers can learn more in a detailed project report.
The company also is preparing to begin construction in first-quarter 2023 on a hydrogen-purification plant at its Cedar Bayou complex in Baytown, Texas. The facility will receive hydrogen-rich waste from a dehydrogenation unit at Chevron Phillips Chemical Company LLC's (The Woodlands, Texas) Cedar Bayou Olefins & Resins Plant, and its product will be sold through a regional pipeline system. Subscribers can learn more in a detailed project report.
Air Products also made strides during the past quarter in Canada, where it signed a long-term supply contract with Imperial Oil Limited's (Calgary, Alberta) proposed Strathcona renewable diesel complex, with Air Products supplying about half the low-carbon hydrogen output from its US$1 billion net-zero hydrogen energy complex in Edmonton, Alberta. The facility is expected to wrap up in 2025, with a long-term capacity goal of 1,500 metric tons per day of net-zero hydrogen. The project design also includes carbon sequestration and the construction of a hydrogen-fueled power plant. Subscribers can learn more in a detailed project report and from Industrial Info's September 7, 2022, article - Imperial to Use Air Products' Hydrogen for Renewable Diesel.
Air Products expects its capital expenditures to be between $5 billion and $5.5 billion for its 2023 fiscal year, which started in October. The company's fourth-quarter 2022 sales of $3.6 billion represented a 26% increase from the same period in fiscal 2021. The top three reasons cited, respectively, were higher energy cost pass-through (that is, fees paid to Air Products for maintaining its systems), higher volumes and higher pricing.
However, higher overall costs, including the company's divestment of its Russian business, led to net income of $593 million, which was down 4% from the same period last year.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on active projects from Air Products across the U.S. and Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
