Air Products (NYSE stock code:APD), a global leader in the development of industrial gases and large-scale projects, and Baker Hughes (NYSE:BKR) Is a global leader in advanced hydrogen compression and gas turbine technology and has announced a global strategic cooperation to develop next-generation hydrogen compression to reduce production costs and accelerate the adoption of hydrogen as a zero-carbon fuel.
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As part of the collaboration, Baker Hughes will provide Air Products with advanced hydrogen compression and gas turbine technology for global projects, including NovaLT16 turbine Used by Air Products in Edmonton, Alberta, Canada and Advanced compression technology It is used in the NEOM non-hydrocarbon project in the Kingdom of Saudi Arabia.
“Air Products chose Baker Hughes because of its leading compression and gas turbine products and strong hydrogen experience,” said Dr.Samir J Selhan, Chief Operating Officer, Air Products Corporation. “This advanced technology is another key step towards achieving economically viable blue and green hydrogen and net zero goals.”
“Our transformative hydrogen compression and gas turbine technologies reduce overall production costs in frontier areas of new energy such as hydrogen, and are strategic drivers of key projects,” said Rod Christie, Executive Vice President of Baker Hughes Turbomachinery and Process Solutions. “Our proven technology is helping to accelerate the hydrogen economy, and our cooperation with Air Products is critical to a net zero future.”
Baker Hughes developed its first hydrogen compressor in 1962, and today there are more than 2,000 in operation worldwide. Baker Hughes’ hydrogen product portfolio also includes gas turbines, which can burn a mixture of methane gas and hydrogen, from as low as 5% to as high as 100% hydrogen.
As the world’s largest hydrogen producer, Air Products’ extensive experience in project execution, plant operations and hydrogen supply chain strength, coupled with Baker Hughes’ pioneering technology and experience, will become the key to opening and accelerating the energy transition.
About Air Products
Air Products (NYSE stock code: APD) Is a world-leading industrial gas company with a history of more than 80 years. The company focuses on serving energy, environment and emerging markets, providing necessary industrial gas, related equipment and application expertise for customers in dozens of industries such as oil refining, chemicals, metals, electronics, manufacturing, and food and beverage. Air Products is also a global leader in LNG process technology and equipment supply. The company develops, designs, builds, owns and operates some of the world’s largest industrial gas projects, including: gasification projects that convert abundant natural resources into syngas to produce high-value electricity, fuels and chemicals; carbon Capture projects; and world-class hydrocarbon-free projects that support the global transportation and energy transition.
The company’s sales in fiscal year 2020 were 8.9 billion U.S. dollars, with operations in 50 countries, and a current market value of approximately 65 billion U.S. dollars. More than 19,000 passionate, talented and loyal employees from different backgrounds are driven by Air Products’ higher goal of creating innovative solutions that benefit the environment, enhance sustainability, and address the challenges faced by customers, communities, and the world .For more information, please visit Air Products Network Or follow us LinkedIn, Twitter, Facebook or Instagram.
Air Products’ warning about forward-looking statements
This press release contains “forward-looking statements” in 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 press release, and are not guarantees of future performance. Although forward-looking statements are made in good faith and are based on management’s assumptions, expectations and assumptions that are reasonable based on currently available information Forecast, but actual performance and financial results may differ materially from the forecasts and estimates expressed in forward-looking statements due to many factors, including what we described in our annual report on Form 10-K for the fiscal year ending September 30, 2020 Risk factors. Except as required by law, we do not undertake any obligation to update or modify any forward-looking statements contained herein or undertaking to reflect any changes in assumptions, beliefs or expectations, or any event, condition or situation on which such forward-looking statements are based Any changes.
About Baker Hughes
Baker Hughes (New York Stock Exchange stock code:BKR) Is an energy technology company that provides solutions for global energy and industrial customers. With a century of experience and operations in more than 120 countries, our innovative technologies and services are driving energy development-making it safer, cleaner, and more efficient for the benefit of mankind and the planet.Visit us Baker Hughes.com.