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Air Products & Chemicals, Inc. reports news on its global industrial gases business, including hydrogen, helium, oxygen, nitrogen, argon, carbon dioxide and gas blends supplied to refining, chemicals, metals, electronics, manufacturing, medical, food and energy customers. Company updates frequently address quarterly earnings, capital discipline, dividends, gas supply agreements, new production assets and applications expertise for customer processes.
Recurring coverage also includes clean hydrogen and industrial decarbonization projects, helium supply-chain resilience, electronics and aerospace customer activity, and gas-based technologies such as oxy-fuel, carbon capture, Smart Technology and Freshline food freezing solutions. The company also reports on equipment offerings including turbomachinery, membrane systems and cryogenic containers.
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Air Products (NYSE: APD) has announced plans to construct a multi-modal hydrogen refueling station in Edmonton, Alberta, marking its first such facility in Canada. This station will support the company’s new $1.6 billion CAD net-zero hydrogen energy complex, set to open in early 2025. The station will include two refueling lanes for heavy-duty vehicles and two for light-duty hydrogen fuel cell cars, with a daily capacity of up to six tonnes of hydrogen. The project is partly funded by $1 million CAD from Natural Resources Canada. This initiative aims to promote hydrogen as an emissions-free transportation fuel and is part of Canada's goal to achieve net-zero emissions by 2050. Air Products continues to lead in the hydrogen economy, operating a comprehensive hydrogen pipeline network and multiple production facilities across Canada.
Air Products (NYSE:APD) is set to release its fiscal 2023 second quarter financial results prior to market opening on May 9, 2023. A teleconference will follow at 8:30 a.m. ET, open to the public and media in listen-only mode. Air Products, a leading industrial gases company, reported $12.7 billion in sales for fiscal 2022, operating in over 50 countries with a market capitalization of about $65 billion. The company focuses on sustainability and serves various industries including refining, chemicals, and manufacturing. It also leads in liquefied natural gas technology and operates large-scale clean hydrogen projects. For more information, the teleconference can be accessed via phone or the Event Details page.
Air Products (NYSE: APD) has announced plans to build, own, and operate two nitrogen plants in Malaysia's Penang region. The new plants will be located in the Bayan Lepas Free Industrial Zone and Batu Kawan Industrial Park, bolstering the company’s capacity and infrastructure to meet rising demand in the area. This investment underscores Air Products' commitment to sustainable growth and operational reliability, particularly in the electrical and electronics manufacturing sectors. The company has a long-standing presence in Malaysia, having operated since 1974, with a total of nine production facilities across the country. With fiscal 2022 sales of $12.7 billion, Air Products continues to position itself as a leader in the industrial gases market, focusing on customer safety and sustainability.
On March 27, 2023, Air Products (NYSE: APD) announced securing contracts worth over $130 million from NASA for liquid hydrogen supply to several locations, including the Kennedy Space Center and Cape Canaveral Space Force Station.
The multi-year contract, valued at approximately $75 million, is already in effect, while another exceeds $57 million. Air Products has a long-standing relationship with NASA and plans significant investments, including $15 billion for clean energy projects globally.
Fiscal 2022 sales reached $12.7 billion, with a market cap of $65 billion.
Air Products (NYSE: APD) announced its withdrawal from the coal-to-methanol Bengalon project in East Kalimantan, Indonesia, as well as other coal gasification initiatives in the country. This strategic shift reallocates resources towards blue and green hydrogen projects, reflecting the evolving financial landscape for energy transition investments. The company continues to uphold its core industrial gas business in Indonesia and plans to provide more updates during its fiscal second quarter earnings call. Air Products achieved fiscal 2022 sales of $12.7 billion and currently holds a market capitalization of about $65 billion.