Air Products Pours Capital into Hydrogen as Market Booms

November 4, 2022--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. Last month, Air Products announced plans to build, own and operate a green liquid hydrogen plant in New York, and it already has a similar project nearing construction in Arizona. Other hydrogen projects from Air Products can be found along the always-busy U.S. Gulf Coast.

Other companies featured: Chevron Phillips Chemical Company LLC, Imperial Oil Limited