Air Products to Hold Investor Teleconference on Plans with AES for Mega-scale Green Hydrogen Production Facility in Texas

Rhea-AI Summary

Air Products and The AES Corporation announced a $4 billion investment to construct a green hydrogen production facility in Wilbarger County, Texas. This mega-scale project aims to bolster sustainability efforts and support the energy transition. Air Products plans to host an investor teleconference on December 8, 2022, at 9:30 a.m. USET to discuss further details. With fiscal 2022 sales of $12.7 billion and a market capitalization of approximately $70 billion, Air Products continues to be a leader in industrial gases and clean energy solutions.

Positive

• Investment of $4 billion in green hydrogen facility indicates strong commitment to sustainability.
• Expansion into the renewable energy sector potentially enhances long-term growth opportunities.

Negative

• None.

Teleconference at 9:30 a.m. USET on December 8. See details below.

LEHIGH VALLEY, Pa., Dec. 8, 2022 /PRNewswire/ -- Today, Air Products (NYSE: APD) and The AES Corporation (NYSE: AES) announced plans to invest approximately $4 billion to build, own and operate a green hydrogen production facility in Wilbarger County, Texas.

Air Products will host an investor teleconference today, Thursday, December 8, 2022, at 9:30 a.m. USET to discuss the project. The teleconference will be open to the public and the media in listen-only mode by telephone and Internet broadcast.

Live teleconference:  323-994-2093
Passcode:  3332662
Internet broadcast/slides:  Available on the Event Details page on Air Products' Investor Relations website.

Internet replay:  Available on the Event Details page on Air Products' Investor Relations website.

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 about $70 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

FAQ

What is the purpose of the $4 billion investment by Air Products and AES?

The investment aims to build a mega-scale green hydrogen production facility in Wilbarger County, Texas.

When is the investor teleconference scheduled?

The investor teleconference is scheduled for December 8, 2022, at 9:30 a.m. USET.

What are the financial metrics of Air Products for fiscal 2022?

Air Products reported sales of $12.7 billion and has a market capitalization of about $70 billion.

How does the green hydrogen facility project impact Air Products' sustainability initiatives?

The project reinforces Air Products' commitment to sustainability and supports the broader energy transition.