Air Products Wins More than $140 Million in NASA Contracts to Supply Liquid Hydrogen to the Kennedy Space Center, Cape Canaveral Space Force Station and Other NASA Facilities

Rhea-AI Summary

Air Products (NYSE:APD) was awarded supply contracts from NASA totaling more than $140 million to provide liquid hydrogen to multiple NASA sites.

Under the agreements, Air Products will deliver about 36.5 million pounds of liquid hydrogen to Kennedy Space Center, Cape Canaveral Space Force Station, Marshall Space Flight Center and Stennis Space Center, building on a relationship that began in 1957.

Positive

• Contracts >$140M for liquid hydrogen supply
• 36.5 million pounds of liquid hydrogen committed
• Multi-site supply covering KSC, Cape Canaveral, Marshall, Stennis
• Operational track record with NASA since 1957
• Completed world9s largest hydrogen sphere fill (over 730,000 gallons delivered)

Negative

• None.

News Market Reaction

-1.25%

1 alert

-1.25% News Effect

On the day this news was published, APD declined 1.25%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

NASA contract value: more than $140 million Liquid hydrogen volume: 36.5 million pounds Hydrogen trailer loads: over 50 trailer loads +5 more

8 metrics

NASA contract value more than $140 million Total liquid hydrogen supply contracts for multiple NASA facilities

Liquid hydrogen volume 36.5 million pounds To be supplied under new NASA contract to multiple centers

Hydrogen trailer loads over 50 trailer loads Deliveries for first fill of NASA’s hydrogen sphere in 2025

Hydrogen volume delivered over 730,000 gallons Liquid hydrogen delivered to fill NASA’s new sphere

Hydrogen sphere height 90 feet Height of NASA’s world’s largest liquid hydrogen tank

Hydrogen sphere diameter 83 feet Diameter of NASA’s world’s largest liquid hydrogen tank

Vanguard ownership 22,304,217 shares (10.02%) Beneficial ownership per Schedule 13G/A as of Dec 31, 2025

Market capitalization $58,457,047,486 Pre-news market cap from provided context

Market Reality Check

Price: $283.12 Vol: Volume 892,596 vs 20-day ...

low vol

$283.12 Last Close

Volume Volume 892,596 vs 20-day average 1,375,978 (relative volume 0.65) indicates subdued trading ahead of this news. low

Technical Shares at $259.12 are trading below the 200-day MA of $271.26 and 24.04% under the 52-week high of $341.14, while still 13.1% above the 52-week low of $229.11.

Peers on Argus

APD was down 1.33% while key specialty/industrial chemical peers were mixed: ECL...

1 Up

APD was down 1.33% while key specialty/industrial chemical peers were mixed: ECL +0.47%, DD +0.93%, SHW -0.55%, PPG -2.03%, LYB -0.92%. Momentum scans flagged PPG with a 4.01% move up and no news, reinforcing that APD’s setup before the NASA contract looked more stock-specific than part of a broad sector rotation.

Historical Context

5 past events · Latest: Jan 14 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 14	Earnings call notice	Neutral	+0.4%	Announcement of fiscal Q1 2026 earnings teleconference and access details.
Dec 08	Investor teleconference	Neutral	-9.4%	Teleconference to discuss low‑emission ammonia partnership negotiations with Yara.
Dec 08	Ammonia projects deal	Positive	-9.4%	Advanced negotiations with Yara on large low‑emission ammonia projects in Louisiana and NEOM.
Nov 25	Board change	Neutral	+0.0%	Director Lisa Davis elects not to stand for re‑election and to retire from board.
Nov 25	Conference appearance	Neutral	+0.9%	CEO and CFO scheduled to speak at Citi's Basic Materials Conference.

Pattern Detected

News tied to strategic hydrogen/ammonia projects has previously coincided with notable price moves, including at least one sharp divergence between seemingly positive project news and share performance.

Recent Company History

Over the last six months, APD’s news flow centered on investor communications and large-scale clean ammonia projects. On Nov 25, 2025, leadership updates and a conference appearance saw muted price impacts of 0.01% and 0.92%. The Dec 8, 2025 low-emission ammonia partnership discussions with Yara, involving multi‑billion‑dollar project estimates, preceded a -9.45% move, showing sensitivity to capital-intensive project news. The Jan 14, 2026 Q1 earnings call announcement led to a modest 0.4% gain. Against this backdrop, today’s >$140 million NASA liquid hydrogen contracts extend APD’s long-run role in large hydrogen infrastructure.

Market Pulse Summary

This announcement extends APD’s decades‑long role in NASA’s space programs through liquid hydrogen c...

Analysis

This announcement extends APD’s decades‑long role in NASA’s space programs through liquid hydrogen contracts worth more than $140 million, covering about 36.5 million pounds across multiple facilities. It builds on prior large‑scale hydrogen infrastructure work, including filling the world’s largest hydrogen sphere with over 730,000 gallons. In context of recent low‑emission ammonia initiatives and a major shareholder holding 10.02%, investors may watch upcoming earnings, project execution, and additional contract wins to gauge longer‑term impact.

Key Terms

liquid hydrogen, industrial gases

2 terms

liquid hydrogen technical

"contracts from NASA totaling more than $140 million to provide liquid hydrogen for several NASA facilities"

Liquid hydrogen is hydrogen gas cooled to extremely low temperatures so it becomes a dense, cold liquid for storage and transport; think of it as freezing a gas into a compact, highly energy-rich fuel that needs insulated tanks like a thermos. Investors care because it can serve as a clean energy or industrial feedstock with high energy-per-weight but also brings costly handling, storage and infrastructure requirements that affect project economics, safety risk and regulatory approval.

industrial gases technical

"supplying the critical industrial gases needed from the initial Apollo 11 moon landing"

Industrial gases are commercially produced gases—like oxygen, nitrogen, hydrogen and others—used as essential raw materials or utilities in manufacturing, healthcare, energy and food processing. Think of them as the invisible supplies factories and hospitals rely on (like water or electricity): their availability, pricing and safety rules directly affect company costs, production uptime and long-term contracts, making them a meaningful factor for investors assessing operational risk and steady revenue.

AI-generated analysis. Not financial advice.

LEHIGH VALLEY, Pa., Jan. 28, 2026 /PRNewswire/ -- Air Products (NYSE:APD), the world's leading supplier of hydrogen, today announced that it was recently awarded supply contracts from the National Aeronautics and Space Administration (NASA) totaling more than $140 million to provide liquid hydrogen for several NASA facilities including the world's largest hydrogen sphere at NASA's Kennedy Space Center, the Cape Canaveral Space Force Station and other NASA locations.

"'From the inception of the United States (U.S.) space program, Air Products has supported NASA's mission by supplying the critical industrial gases needed from the initial Apollo 11 moon landing to the upcoming Artemis II moon mission," said Francesco Maione, Air Products' President, Americas. "For decades, Air Products has consistently demonstrated our ability to supply world-scale levels of liquid hydrogen and other industrial gases safely and reliably through our robust supply chain. We're proud to play a role in helping NASA confidently continue its important work."

Under the new contract, Air Products will supply about 36.5 million pounds of liquid hydrogen to NASA for the Kennedy Space Center and Cape Canaveral Space Force Station in Florida; NASA's Marshall Space Flight Center in Huntsville, Alabama; and NASA's Stennis Space Center in Bay St. Louis, Mississippi.

Air Products' working relationship with NASA began in 1957. It has included supplying NASA with liquid hydrogen and other industrial gases to advance the U.S. Space Program including Apollo, the Space Shuttle, and Orion. In addition to supplying industrial gases for space launches, Air Products also has had a long-term relationship with NASA's engine testing program at Stennis Space Center in Mississippi, Johnson Space Center in Texas, as well as Marshall Space Flight Center in Alabama.

In 2025, Air Products completed the first fill of the world's largest hydrogen sphere at the Kennedy Space Center. To complete the fill, Air Products delivered over 50 trailer loads of liquid hydrogen - over 730,000 gallons in all - to NASA's new sphere. The NASA hydrogen sphere is the world's largest liquid hydrogen tank, measuring 90 feet tall and 83 feet in diameter.

Astronautic applications are a key business for Air Products, and the Company is also heavily involved in supporting the increasing number of privatized space launches and missions of several independent companies, with gases needed to manufacture rockets and satellites, conduct testing, and significant volumes for launches.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

View original content to download multimedia:https://www.prnewswire.com/news-releases/air-products-wins-more-than-140-million-in-nasa-contracts-to-supply-liquid-hydrogen-to-the-kennedy-space-center-cape-canaveral-space-force-station-and-other-nasa-facilities-302672787.html

SOURCE Air Products

FAQ

How much is the NASA liquid hydrogen contract worth for Air Products (NYSE:APD)?

Air Products won supply contracts totaling more than $140 million for NASA liquid hydrogen supply. According to the company, the agreements cover multiple NASA facilities and represent a sizable, multi-site award for hydrogen logistics and delivery.

What volume of liquid hydrogen will Air Products (APD) supply to NASA under the new contracts?

Air Products will supply about 36.5 million pounds of liquid hydrogen to NASA facilities. According to the company, deliveries will serve Kennedy Space Center, Cape Canaveral, Marshall Space Flight Center and Stennis Space Center.

Which NASA facilities will receive liquid hydrogen from Air Products (NYSE:APD)?

The contracts cover Kennedy Space Center, Cape Canaveral Space Force Station, Marshall Space Flight Center and Stennis Space Center. According to the company, those sites will receive scheduled liquid hydrogen deliveries under the award.

What is the significance of the Kennedy Space Center hydrogen sphere fill by Air Products (APD)?

Air Products completed the first fill of the world9s largest hydrogen sphere, delivering over 730,000 gallons of liquid hydrogen. According to the company, the effort demonstrated large-scale delivery capability for astronautic applications.

How does the NASA award relate to Air Products9 experience in astronautic gas supply (APD)?

The award extends a relationship with NASA that began in 1957 and spans Apollo, Shuttle and Orion programs. According to the company, decades of supplying industrial gases support its astronautics and launch services business.