Air Products Opens New Offices in New York State and Alberta, Canada

Rhea-AI Summary

Air Products (NYSE: APD) announced the establishment of two new Project Delivery offices in Buffalo, New York and Edmonton, Alberta to support its expanding project portfolio. The Buffalo office will initially host around 75 employees, while the Edmonton office will have over 40 employees. These offices aim to improve collaboration and enhance access to technical talent, aligning with the company's growth strategy. Air Products is also investing approximately $500 million to build a hydrogen production facility nearby, reinforcing its position in the hydrogen market.

Positive

• Establishment of new offices in Buffalo and Edmonton to enhance project execution.
• Buffalo office will initially employ around 75 staff, while Edmonton will have over 40.
• Investment of approximately $500 million in a nearby hydrogen production facility.

Negative

• None.

Locations in Buffalo and Edmonton will Focus on an
Increasing Project Portfolio and Achieving Company Growth Plans  

LEHIGH VALLEY, Pa., Feb. 6, 2023 /PRNewswire/ -- Air Products (NYSE: APD) today announced plans to broaden its Americas presence by establishing two new Project Delivery offices in Edmonton, Alberta, Canada and Buffalo, New York (NY).

"Given the increasing number of projects in the United States and Canada, and the evolving footprint of our industrial gas business, additional offices in these locations will place our business in a strong position," said Anthony Buzzeo, Air Products' General Manager - Americas. "We have strategically located these new execution offices close to our project sites, which has several benefits including access to a strong technical talent pool and proximity to several distinguished engineering schools."

The Buffalo office will initially have approximately 75 employees, and the Alberta office will include over 40 employees. The Global Engineering and Manufacturing Technology Equipment (GEMTE) offices will be a cross-functional space including executives, engineering, product, process gas, and air separation unit (ASU) product line functions. The expansions will further strengthen collaboration between Air Products' existing technical and large-project teams located in the United States (Allentown, Houston), Europe (Hersham (UK) and Netherlands), Asia (Shanghai, Nanjing) and India (Pune, Vadodara).

"Working with their wider GEMTE and Industrial Gas colleagues, our Edmonton and Buffalo Project Delivery teams will be well-placed and empowered to push the business to achieve our growth strategy," said Buzzeo.

Buffalo is about 300 miles from Massena, NY, where Air Products, the world leader in hydrogen production and a first mover developing and executing low carbon hydrogen megaprojects driving the energy transition, recently announced plans to invest approximately $500 million to build, own and operate a 35 metric ton per day facility to produce green liquid hydrogen at a greenfield site. Air Products will also build a liquid hydrogen distribution and dispensing operation in the area.

The Edmonton office is very close to Air Products' two currently-operating Edmonton hydrogen production facilities, and also to its newest hydrogen project in the area announced in June 2021 – a $1.6 billion (CAD) net-zero hydrogen energy complex.

The new facility will make Edmonton, Alberta the center of Canada's hydrogen economy and set the stage for Air Products to operate one of the most competitive and lowest-carbon-intensity hydrogen networks in the world.

These two hydrogen projects are among several announced by Air Products and already in execution around the world. Globally these energy transition projects include:

• A $4 billion green hydrogen production facility in Texas. This mega-scale renewable power to hydrogen project by Air Products and The AES Corporation includes approximately 1.4 gigawatts (GW) of wind and solar power generation, along with electrolyzer capacity capable of producing over 200 metric tons per day of green hydrogen, making it the largest green hydrogen facility in the United States. 

• A $4.5 billion clean energy complex in Louisiana. Air Products will build, own and operate the megaproject, which will produce over 750 million standard cubic feet per day of clean hydrogen and capture carbon dioxide during the production process for permanent sequestration. The project represents Air Products' largest-ever investment in the U.S.

• In conjunction with ACWA Power and NEOM, a multi-billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project, which will be equally owned by the three partners, will be sited in NEOM, a new model for sustainable living located in the northwest corner of the Kingdom of Saudi Arabia, and will produce green ammonia for export to global markets.

• Air Products is teaming up with World Energy to build a new $2.5 billion major expansion project at World Energy's Sustainable Aviation Fuel (SAF) production and distribution hub in Paramount, California. The Los Angeles County facility will be the world's first commercial scale and North America's only SAF production facility, and its total fuel capacity will be expanded to 340 million gallons annually. 

About Air Products  
Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers. 

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of over $60 billion. More than 21,000 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 reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.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 the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022 and other factors disclosed in our filings with the Securities and Exchange Commission. 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.

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SOURCE Air Products