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AIR PRODUCTS AND CHEMICALS, INC.

(APD)
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Air Products to Develop Hydrogen Energy Project in Alberta

06/09/2021 | 07:54am EDT

By Adriano Marchese

Air Products & Chemicals Inc. said Wednesday it plans to build a net-zero hydrogen energy complex in Edmonton, Alberta.

The U.S. gases and chemicals seller said the project is in collaboration with its Canadian subsidiary, Air Products Canada Ltd., as well as the Canadian federal government and the Province of Alberta.

"[The project] will make Edmonton, Alberta the center of western Canada's hydrogen economy and set the stage for Air Products to operate the most competitive and lowest-carbon-intensity hydrogen network in the world," the company said.

Air Products said the 1.3 billion Canadian-dollar ($1.07 billion) net-zero hydrogen production and liquefaction facility is expected to be operational in 2024.

"By being a first mover and investing in this innovative landmark project, we are paving the way for hydrogen from Edmonton to meet industrial and transportation needs throughout western Canada," Chief Executive Officer Seifi Ghasemi said.

The company said the Edmonton facility will capture over 95% of carbon dioxide and store it underground. It will use hydrogen-fueled electricity to offset the remaining 5% of emissions.

Air Products said it expects its Alberta business to reach over 1,500 metric tons of hydrogen production a day and with over 3 million tons a year of CO2 capture.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

06-09-21 0954ET

Stocks mentioned in the article
ChangeLast1st jan.
AIR PRODUCTS AND CHEMICALS, INC. -2.14% 292.7 Delayed Quote.7.13%
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.04% 0.93275 Delayed Quote.-4.64%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.17% 1.7192 Delayed Quote.-1.00%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.20% 88.524 Delayed Quote.10.17%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.30% 0.74077 Delayed Quote.7.02%
DJ INDUSTRIAL -1.58% 33290.08 Delayed Quote.10.51%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) -0.05% 0.86438 Delayed Quote.-5.19%
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06/09AIR PRODUCTS AND CHEMICALSá : Investor Call Presentation
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More news
Financials (USD)
Sales 2021 9 910 M - -
Net income 2021 2 016 M - -
Net Debt 2021 3 078 M - -
P/E ratio 2021 32,3x
Yield 2021 1,98%
Capitalization 64 779 M 64 779 M -
EV / Sales 2021 6,85x
EV / Sales 2022 6,44x
Nbr of Employees 19 138
Free-Float 88,5%
Chart AIR PRODUCTS AND CHEMICALS, INC.
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Air Products and Chemicals, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AIR PRODUCTS AND CHEMICALS, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 319,88 $
Last Close Price 292,70 $
Spread / Highest target 23,0%
Spread / Average Target 9,28%
Spread / Lowest Target -8,10%
EPS Revisions
Managers and Directors
NameTitle
Seifollah Ghasemi Chairman, President & Chief Executive Officer
Michael Scott Crocco Chief Financial Officer & Executive Vice President
Brian Galovich Chief Information Officer & Senior VP
Samir J. Serhan Chief Operating Officer
Chadwick C. Deaton Lead Independent Director
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