Linde Signs Record Number of Small On-Site Projects in 2023

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Linde (LIN) announced a record number of new small on-site projects in 2023, with 53 projects signed totaling $270 million in capex. The projects utilize Linde's ECOVAR technology for nitrogen and oxygen supply, catering to sectors such as battery storage, glass, and metals. The company's oxy-fuel applications contribute to reduced fuel consumption and emissions, driving project wins. CEO Sanjiv Lamba highlighted the efficiency and sustainability benefits of Linde's small on-site technology and the popularity of modular multi-plant solutions.
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Linde's announcement of signing a record number of new small on-site projects indicates a robust demand for its proprietary ECOVAR® technology. This technology appeals to companies aiming to enhance efficiency and reduce environmental impact, a growing trend across industries. The capital expenditure of $270 million suggests Linde is strategically investing in growth areas that align with global shifts towards sustainability and energy efficiency.

With nitrogen and oxygen being critical in various sectors, Linde's expansion in these areas mirrors broader economic movements. The focus on battery storage for consumer electronics and electric vehicles is particularly noteworthy, as these markets are rapidly expanding due to the global push for clean energy and electric mobility. Similarly, the mention of glass and metals industries reflects the ongoing need for industrial gases in traditional sectors, which remain substantial despite the rise of newer technologies.

The multi-sector approach not only diversifies Linde's revenue streams but also mitigates sector-specific risks. By catering to both emerging and established markets, Linde positions itself to capitalize on both short-term and long-term growth opportunities.

The emphasis on Linde's ECOVAR® technology indicates a strategic positioning towards environmental sustainability. This technology, by providing efficient and flexible nitrogen and oxygen supply, supports the reduction of fuel consumption and emissions in customer operations. The adoption of Linde's oxy-fuel applications is a testament to the increasing market pressure on companies to adopt greener practices.

From an environmental standpoint, Linde's technology enables customers to align with stricter environmental regulations and corporate sustainability goals. The long-term benefits include potential cost savings from reduced energy use and the favorable positioning of Linde's clients as responsible corporate citizens. However, the initial capital outlay and the transition to new technologies could pose short-term financial challenges for some clients.

The $270 million capital expenditure on small on-site projects reflects a significant investment by Linde into a growing segment of its business. This indicates confidence in the profitability and return on investment of these projects. The multi-year growth streak suggests a consistent and reliable expansion strategy that could positively influence investor confidence in Linde's stock.

Given the diverse application of Linde's products across multiple sectors, the financial implications for stakeholders are multifaceted. Shareholders could expect enhanced revenue streams from these contracts, while customers benefit from the operational efficiencies gained through Linde's technologies. However, investors should monitor the company's ability to manage the capital expenditure effectively and the impact of these investments on Linde's financial performance, including margins and cash flow.

WOKING, UK / ACCESSWIRE / January 23, 2024 / Linde (Nasdaq:LIN) announced today it has signed a record number of new small on-site projects during 2023, its fourth consecutive year of growth.

Linde signed 53 new small on-site projects with capex totaling $270 million for the supply of nitrogen and oxygen during 2023. Small on-site projects use Linde's proprietary ECOVAR® technology, which is designed to be highly efficient, flexible and reliable while helping customers minimize their environmental impact.

The demand for Linde's NITRON TM on-site nitrogen plants was across multiple sectors, including battery storage for both consumer electronics and electric vehicles. In addition, glass and metals comprised a significant proportion of Linde's next generation VITRON®on-site oxygen plant projects. Linde's portfolio of oxy-fuel applications reduces customers' fuel consumption and emissions, playing a key role in these project wins.

"Linde's proprietary small on-site technology enables our customers to be more efficient and sustainable across diverse end markets," said Sanjiv Lamba, Chief Executive Officer, Linde. "In addition to record small on-site project wins, Linde's modular multi-plant solutions are popular with customers for enhanced operational flexibility and lower costs."

About Linde

Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.

The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit

Investor Relations
Juan Pelaez
Phone: +1 203 837 2213
Media Relations
Anna Davies
Phone: +44 1483 244705

SOURCE: Linde plc

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How many new small on-site projects did Linde sign in 2023?

Linde signed 53 new small on-site projects in 2023.

What was the total capex for the new projects signed by Linde in 2023?

The total capex for the new projects signed by Linde in 2023 was $270 million.

What technology does Linde's small on-site projects utilize?

Linde's small on-site projects utilize ECOVAR technology for nitrogen and oxygen supply.

Which sectors did the demand for Linde's NITRON TM on-site nitrogen plants come from?

The demand for Linde's NITRON TM on-site nitrogen plants came from sectors such as battery storage for consumer electronics and electric vehicles.

What are the benefits of Linde's oxy-fuel applications?

Linde's oxy-fuel applications reduce customers' fuel consumption and emissions, contributing to project wins.

Who highlighted the efficiency and sustainability benefits of Linde's small on-site technology?

CEO Sanjiv Lamba highlighted the efficiency and sustainability benefits of Linde's small on-site technology.

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About LIN

Linde plc is a global multinational chemical company founded in Germany and, since 2018, domiciled in Ireland and headquartered in the United Kingdom. Linde is the worlds largest industrial gas company by market share and revenue.