LEHIGH VALLEY, Penn. and
HOUSTON and LONDON, June 9,
2021 /PRNewswire/ -- 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, today 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.
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, 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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SOURCE Air Products