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Linde Signs MoU with China Power to Develop Green Hydrogen Energy in China

07/17/2020 | 09:35am EST

Linde (NYSE:LIN; FWB:LIN) announced today that it has signed a Memorandum of Understanding (MoU) with Beijing Green Hydrogen Technology Development Co., Ltd., a subsidiary of China Power International Development Ltd., to jointly promote the application and development of green hydrogen in China.

Under the terms of the MoU both companies will collaborate on a variety of green hydrogen initiatives, including hydrogen technology research and development, and the implementation of green hydrogen mobility solutions during China's inaugural hosting of the 2022 Winter Olympics.

'Sustainability is a key priority for Linde and our mission is making our world more productive,' said Sanjiv Lamba, Executive Vice President and CEO Asia Pacific, Linde. 'Linde is a global leader in hydrogen technology and mobility solutions, and we look forward to collaborating with China Power to develop local green hydrogen and clean energy solutions to support China's energy transition.'

'Linde is widely recognized for its sustainability agenda and is the industry leader in hydrogen technology and mobility solutions,' said Mr. Tian Jun, Party Secretary, Chairman of the Board and President of China Power International Development Ltd. 'We are delighted to partner with Linde to pilot the application of green hydrogen at the Winter Olympics, and work towards establishing a model for China's transition to clean energy.'

Linde is a global leader in hydrogen. It has the largest liquid hydrogen capacity and distribution system in the world and has installed over 180 hydrogen refueling stations worldwide for cars, buses, trucks and trains. Linde operates 80 hydrogen electrolysis plants and the world's first high-purity hydrogen storage cavern.

About Linde

Linde is a leading global industrial gases and engineering company with 2019 sales of $28 billion (EUR25 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 and protect our planet.

The company serves a variety of end markets including chemicals & refining, food & beverage, electronics, healthcare, manufacturing and primary metals. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.


Juan Pelaez

Tel: +1-203-837-2213

Email: juan.pelaez@linde.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
LINDE 0.00%End-of-day quote.1.52%
LINDE PLC -1.73% 316.12 Delayed Quote.-7.00%
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Sales 2021 30 185 M - -
Net income 2021 4 241 M - -
Net Debt 2021 12 263 M - -
P/E ratio 2021 41,0x
Yield 2021 1,32%
Capitalization 164 B 164 B -
EV / Sales 2021 5,82x
EV / Sales 2022 5,43x
Nbr of Employees 72 159
Free-Float -
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Stephen F. Angel Chief Executive Officer & Director
Matthew J. White Chief Financial Officer & Executive Vice President
Wolfgang W. Reitzle Chairman
Earl Newsome Chief Information Officer-Americas IT
Sanjiv Lamba Chief Operating Officer
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