STOCK TITAN

Linde Signs Long-Term Agreement with BASF in France

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Linde has signed a long-term agreement with BASF to supply hydrogen and steam, marking a significant expansion in their collaboration. Linde will construct and operate a new hydrogen production facility in Chalampé, France, effectively doubling its existing capacity at the site. This facility, set to become operational in the first half of 2024, will support BASF's new hexamethylenediamine manufacturing facility and cater to rising demand from local customers. Linde is a leader in hydrogen production, with a robust global distribution network.

Positive
  • Long-term supply agreement with BASF enhances strategic partnership.
  • Doubling of hydrogen production capacity in Chalampé strengthens market position.
  • New facility expected to be operational in the first half of 2024 to meet increasing demand.
Negative
  • None.

GUILDFORD, UK / ACCESSWIRE / February 8, 2022 / Linde (NYSE:LIN; FWB:LIN) today announced that it has signed a long-term agreement with BASF, one of the world's largest chemical companies, for the supply of hydrogen and steam.

Linde will design, build, own and operate a new hydrogen production facility at Chalampé, France, effectively doubling Linde's current capacity in the Chalampé chemical park where it already has one production facility. This second plant will supply BASF's new hexamethylenediamine (HMD) manufacturing facility and will also help meet the increasing demand from Linde's local merchant customers for hydrogen. The plant is expected onstream in the first half of 2024.

"Hydrogen plays a key role in the manufacturing of essential chemicals for industry," said Veerle Slenders, President Region Europe West, Linde. "Linde's hydrogen production technology, developed over several decades, ensures we can safely and reliably supply our customers and support their operations. We look forward to supporting BASF as it grows its manufacturing capacity in France."

Linde is a global leader in the production, processing, storage and distribution of hydrogen. It has the largest hydrogen liquefaction capacity and gaseous hydrogen pipeline distribution system anywhere in the world. The company operates the world's first high-purity hydrogen storage cavern plus pipeline networks totaling approximately 1,000 kilometers globally, to reliably supply its customers. Linde is at the forefront in the transition to clean hydrogen and has installed 200 hydrogen fueling stations and 80 hydrogen electrolysis plants worldwide. The company offers the latest electrolysis technology through its world class engineering organization, key alliances and partnerships.

About Linde

Linde is a leading global industrial gases and engineering company with 2020 sales of $27 billion (€24 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/687782/Linde-Signs-Long-Term-Agreement-with-BASF-in-France

FAQ

What is Linde's recent agreement with BASF about?

Linde signed a long-term agreement with BASF for the supply of hydrogen and steam, which includes constructing a new hydrogen production facility in Chalampé, France.

When will Linde's new hydrogen production facility be operational?

The new hydrogen production facility is expected to be operational in the first half of 2024.

How will the new facility impact Linde's hydrogen production capacity?

The new facility will double Linde's current hydrogen production capacity at the Chalampé site.

What role does hydrogen play in this agreement?

Hydrogen is essential for BASF's new hexamethylenediamine manufacturing facility and to meet the rising demand from local customers.

What is Linde's position in the hydrogen market?

Linde is a global leader in hydrogen production, with the largest liquefaction capacity and extensive pipeline distribution systems.

Linde plc Ordinary Share

NASDAQ:LIN

LIN Rankings

LIN Latest News

LIN Stock Data

224.45B
477.50M
0.2%
85.62%
1.03%
Specialty Chemicals
Industrial Inorganic Chemicals
Link
United States of America
WOKING SURREY