In order to broaden business in china, Air Products has completed the acquisition of the remaining 50 percent equity stake in its gasification technology joint venture (JV) with China Shenhua Coal to Liquid and Chemical Co. Ltd.
- China Shenhua Coal to Liquid and Chemical Co. Ltd., a subsidiary of China Energy Group.
- Air Products Syngas Solutions offers complete turnkey gasification complexes to convert a wide range of lower-value hydrocarbon feedstocks into synthesis gas for making higher value products and power.
- Air Products acquired its initial 50 percent equity stake in the JV as part of its acquisition of General Electric Company’s (“GE”) gasification business from GE Power in 2019.
The major investments and acquisitions by Air Products are mentioned below:
April 2021: To boost clean energy in South Korea, Air Products has opened a new hydrogen fueling station at its industrial gases facility in Ulsan City. It was the first city in Korea to operate hydrogen buses and taxis and has established itself as the center of hydrogen fuel cell vehicles.
Feb 2021: To fulfil growing customers need Air Products had brought on-stream its first cryogenic nitrogen plant in the Bayan Lepas Free Industrial Zone, Penang, Northern Malaysia. The Bayan Lepas Free Industrial Zone, located in Penang which is one of Malaysia’s most vital economic powerhouses.
Feb 2021: The leading liquefied natural gas (LNG) technology and equipment provider, Air Products had signed an agreement to provide its proprietary LNG technology & equipment to the Energia Costa Azul (ECA) LNG Export Terminal Project in Mexico.
July 2020: Air Products, in combination with ACWA Power and NEOM, signed an agreement for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy.
July 2020: Air Products, signed a strategic cooperation agreement (SCA)with thyssenkrupp Uhde Chlorine Engineers for world-scale electrolysis plants to generate green hydrogen.
May 2020: Air Products has signed a definitive agreement for a long-term on-site contract for a world-scale coal-to-methanol production facility in Bengalon, East Kalimantan, Indonesia. Air Products will invest approximately USD 2 billion in Bengalon for coal-to-methanol facility.
April 2020: Air Products announced the completion of five steam methane reformer (SMR) hydrogen production plants from PBF Energy Inc. for approximately $530 million. The Hydrogen plants are located in Torrance and Martinez, California and Delaware City, Delaware, the USA.
March 2020: Air Products is building three new nitrogen plants near Zuidbroek, Groningen, in The Netherlands, along with N.V. Nederlandse Gasunie. The new nitrogen plants, to be operational by mid-2022.
February 2020: Air Products Qudra, a global Industrial gas leader is constructing a fully-integrated industrial gases hub in the Jubail Industrial City, Jubail, Saudi Arabia, in collaboration with the Royal Commission for Jubail and Yanbu. Air Products Qudra is a joint venture of Air Products and Qudra energy. The investment includes building, owning, and operating a world-scale steam methane reformer (SMR) to produce hydrogen, an air stioeparan unit (ASU) to produce oxygen and nitrogen. The Air Products Qudras Jubail facility includes an ASU and PSAs, and the location will serve as the pipeline hub for industrial gases to be supplied to individual customer connections in the region.
January 2020: Air Products announced $500 million investment in the United States to build, own and operate (BOO) its largest-ever steam methane reformer (SMR) to produce hydrogen which will be connected to and extend, to approximately 700 miles. The company will also supply Gulf Coast Ammonias new world-scale Texas production plant.
About Air Products
Air Products is a world-leading industrial gases company in operation for over 75 years. The company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the worlds leading supplier of liquefied natural gas process technology and equipment. The company has more than 17,000 employees, and it has operations in about 50 countries in the world.