Energy Storage, Electronics and Manufacturing Drive Record Year for Linde Small On-Site Projects

Rhea-AI Summary

Linde (NYSE:LIN) recently announced a record year for small on-site projects in 2022, signing 52 new agreements, representing a 21% increase from 2021. This growth was primarily driven by the rising demand for next-generation energy storage, particularly in lithium-ion batteries, alongside strong needs from electronics, manufacturing, and metals sectors. The small projects utilize Linde's proprietary ECOVAR® technology, designed for efficiency and minimal environmental impact. Most projects require investments under $5 million and are expected to contribute to Linde's steady revenue growth.

Positive

• Signed 52 new small on-site projects, a 21% increase from 2021.
• Driven by strong demand for next-generation energy storage, especially lithium-ion batteries.
• Utilizes proprietary ECOVAR® technology, enhancing efficiency and environmental impact.
• Projects require investments under $5 million, contributing to steady revenue.

Negative

• None.

WOKING, UK / ACCESSWIRE / February 3, 2023 / Linde (NYSE:LIN)(FWB:LIN) announced today it had another record year for new small on-site projects during 2022.

Linde signed 52 new small on-site projects for the supply of nitrogen and oxygen, a 21% increase compared with 2021. The increase was largely driven by growing demand for next-generation energy storage, such as lithium-ion batteries. Linde also saw continued strong demand from traditional end markets including electronics, manufacturing, metals and mining.

Small on-site projects use Linde's proprietary ECOVAR^® technology, which is designed to be highly efficient, flexible and reliable while helping customers minimize their environmental impact. The new long-term agreements meet Linde's strict investment criteria and will ultimately deliver steady revenue and contribute to Linde's underlying growth. Most of the projects require investments under $5 million and are separate from the company's quarterly reported project backlog.

"The growth in demand for next-generation lithium-ion batteries for consumer electronics, electric vehicles and other industrial applications has stimulated an impressive increase in activity across the energy storage value chain," said Sanjiv Lamba, Chief Executive Officer, Linde. "Linde's proprietary ECOVAR^® technology means we can help our customers scale up their activity."

About Linde

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 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 & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. 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.

For more information about the company and its products and services, please visit www.linde.com

Contacts:
Investor Relations Juan Pelaez Phone: +1 203 837 2213 Email: juan.pelaez@linde.com	Media Relations Anna Davies Phone: +44 1483 244705 Email: anna.davies@linde.com

SOURCE: Linde plc

View source version on accesswire.com:
https://www.accesswire.com/737976/Energy-Storage-Electronics-and-Manufacturing-Drive-Record-Year-for-Linde-Small-On-Site-Projects

FAQ

What was Linde's recent achievement in small on-site projects?

Linde signed 52 new small on-site projects in 2022, a 21% increase from the previous year.

What is the role of lithium-ion batteries in Linde's growth?

The demand for lithium-ion batteries for energy storage significantly drove Linde's increase in small on-site projects.

What technology does Linde use for its small on-site projects?

Linde utilizes its proprietary ECOVAR® technology, which is designed to be efficient and environmentally friendly.

What is the investment size for Linde's new small on-site projects?

Most of Linde's small on-site projects require investments under $5 million.

How does Linde's performance impact its stock symbol LIN?

Linde's growth in small on-site projects and steady revenue contributes positively to investor confidence in LIN.