Record Wins for Linde’s Small On-Site Solutions in 2024 Driven by Electronics and Decarbonization
Rhea-AI Summary
Linde (Nasdaq:LIN) has achieved a record number of new small on-site projects for nitrogen and oxygen supply for the fifth consecutive year. In 2024, the company secured 59 new long-term agreements to build, own, and operate 64 plants at customer sites.
The agreements span various end markets, with demand primarily driven by growth in electronics, including battery production for electric vehicles, as well as glass and metal manufacturers seeking emission reduction and efficiency improvements. These projects will utilize Linde's proprietary ECOVAR technology, designed for efficiency, adaptability, and reliability.
The projects meet Linde's investment criteria and are expected to quickly contribute to company growth while enhancing network density due to short execution timelines.
Positive
- Record number of new small on-site projects for 5th consecutive year
- 59 new long-term agreements secured for 64 plants
- Projects meet investment criteria with short execution timelines
- Expansion in high-growth sectors (electronics, EV battery production)
- Enhancement of network density
Negative
- None.
News Market Reaction
On the day this news was published, LIN gained 0.13%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
WOKING, UK / ACCESS Newswire / February 4, 2025 / Linde (Nasdaq:LIN) announced today that for the fifth successive year, it secured a record number of new small on-site projects for the supply of nitrogen and oxygen. During 2024, the company signed 59 new long-term agreements for which it will build, own and operate 64 plants at customer sites.
Linde signed agreements with customers across a broad range of end markets, with demand driven by secular growth in electronics, including battery production for electric vehicles, plus glass and metal manufacturers seeking ways to reduce their emissions and improve efficiency.
These projects will leverage Linde's proprietary ECOVAR® technology, which is engineered for exceptional efficiency, adaptability and reliability. They meet Linde's strict investment criteria and, due to their short execution timelines, will rapidly contribute to the company's growth. Additionally, they will continue to enhance Linde's network density.
"Linde's unwavering commitment to innovation is reflected in our leading-edge technology portfolio, which is best positioned to meet the evolving needs of our customers," said Sanjiv Lamba, Chief Executive Officer, Linde. "Our small on-site plants fully leverage this and provide cost-effective solutions that help our customers enhance efficiency while reducing emissions."
About Linde
Linde is a leading global industrial gases and engineering company with 2023 sales of
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 linde.com.
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SOURCE: Linde plc
View the original press release on ACCESS Newswire
FAQ
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