Air Products and Baker Hughes to Collaborate on Global Hydrogen Projects
09 Juni 2021 - 12:15PM
Business Wire
Air Products (NYSE:APD), a global leader in industrial gases and
megaproject development, and Baker Hughes (NYSE: BKR), a world
leader in advanced hydrogen compression and gas turbine technology,
have announced a strategic global collaboration to develop next
generation hydrogen compression to lower the cost of production and
accelerate the adoption of hydrogen as a zero-carbon fuel.
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As part of the collaboration, Baker Hughes will provide Air
Products with advanced hydrogen compression and gas turbine
technology for global projects, including NovaLT16 turbines for Air
Products’ net-zero hydrogen energy complex in Edmonton, Alberta,
Canada and advanced compression technology for the NEOM carbon-free
hydrogen project in the Kingdom of Saudi Arabia.
“Air Products chose Baker Hughes for its leading-edge
compression and gas turbine offerings and robust hydrogen
experience,” said Dr. Samir J. Serhan, chief operation officer, Air
Products. “This advanced technology is another key step toward
achieving economically viable blue and green hydrogen and net-zero
targets.”
“Our transformative hydrogen compression and gas turbine
technology lowers the overall production cost for new energy
frontiers such as hydrogen and is a strategic enabler for key
projects,” said Rod Christie, executive vice president of
Turbomachinery & Process Solutions at Baker Hughes. “Our proven
technology is helping to accelerate the hydrogen economy, and our
collaboration with Air Products will be critical for a net-zero
future.”
Baker Hughes developed its first hydrogen compressor in 1962 and
today has more than 2,000 units operating around the globe. Baker
Hughes’ hydrogen portfolio also includes gas turbines that can burn
methane gas and hydrogen blends from as little as 5% to as much as
100% hydrogen.
As the world’s largest hydrogen producer, Air Products’
extensive experience in project execution, plant operations and
strength in the hydrogen supply chain, combined with Baker Hughes’
seminal technology and experience, will be key to unlocking and
accelerating the energy transition.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases
company in operation for over 80 years. Focused on serving energy,
environment and emerging markets, the Company provides essential
industrial gases, related equipment and applications expertise to
customers in dozens of industries, including refining, chemical,
metals, electronics, manufacturing, and food and beverage. Air
Products is also the global leader in the supply of liquefied
natural gas process technology and equipment. The Company develops,
engineers, builds, owns and operates some of the world's largest
industrial gas projects including: gasification projects that
sustainably convert abundant natural resources into syngas for the
production of high-value power, fuels and chemicals; carbon capture
projects; and world-scale carbon-free hydrogen projects supporting
global transportation and the energy transition.
The Company had fiscal 2020 sales of $8.9 billion from
operations in 50 countries and has a current market capitalization
of about $65 billion. More than 19,000 passionate, talented and
committed employees from diverse backgrounds are driven by Air
Products’ higher purpose to create innovative solutions that
benefit the environment, enhance sustainability and address the
challenges facing customers, communities, and the world. For more
information, visit airproducts.com or follow us on LinkedIn,
Twitter, Facebook or Instagram.
Air Products’ Cautionary Note Regarding Forward-Looking
Statements
This release contains “forward-looking statements” within the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on
management’s expectations and assumptions as of the date of this
release and are not guarantees of future performance. While
forward-looking statements are made in good faith and based on
assumptions, expectations and projections that management believes
are reasonable based on currently available information, actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors, including risk factors
described in our Annual Report on Form 10-K for the fiscal year
ended September 30, 2020. Except as required by law, we disclaim
any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect any change
in the assumptions, beliefs or expectations or any change in
events, conditions or circumstances upon which any such
forward-looking statements are based.
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that
provides solutions to energy and industrial customers worldwide.
Built on a century of experience and with operations in over 120
countries, our innovative technologies and services are taking
energy forward – making it safer, cleaner and more efficient for
people and the planet. Visit us at bakerhughes.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210609005433/en/
For Baker Hughes:
Media Relations Thomas Millas +1 713-879-2862
thomas.millas@bakerhughes.com
Investor Relations Jud Bailey +1 281-809-9088
investor.relations@bakerhughes.com
For Air Products:
Media Relations Art George +1 610-481-1340
georgeaf@airproducts.com
Investor Relations Simon Moore +1 610-481-7461
mooresr@airproducts.com
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