Latest news with #AirProducts
Yahoo
5 days ago
- Business
- Yahoo
Green Hydrogen Boom Fizzles as Projects Collapse Worldwide
Three weeks ago, U.S. President Donald Trump signed into law the 'One Big Beautiful Bill Act" (OBBBA)' that pretty much sounded the death knell for the nascent green hydrogen sector. Whereas OBBBA did not outright cancel the Section 45V clean hydrogen production tax credits as earlier feared, it did accelerate the deadline for projects to begin construction to be eligible for the credit, bringing the deadline forward to December 31, 2027 from January 1, 2033 as originally envisioned in Biden's Inflation Reduction Act (IRA) of 2022. Losing 45V tax credits is likely to seriously erode the economic viability of many hydrogen projects in the country, with Louisiana set to feel the heat the most. The state's 46 hydrogen and ammonia-related projects are currently eligible for the credits. Louisiana is home to some of the biggest hydrogen projects in the United States, including Clean Hydrogen Works' $7.5 billion ammonia and blue hydrogen projects as well as Air Products (NYSE:APD)' $4.5 billion blue hydrogen plant. However, OBBBA is not solely to blame for the stalling hydrogen sector, with dozens of green hydrogen developers across the globe scaling back investments or scrapping them altogether thanks to weak demand for the low-carbon fuel coupled with soaring production year, U.S. startup Hy Stor Energy canceled its reservation for over 1 gigawatt of electrolyzer capacity with Nel, a Norwegian electrolyzer manufacturer, for its Mississippi Clean Hydrogen Hub project. The company said the move was due to market headwinds and delays in bringing the project to fruition, making it financially unfeasible to make upcoming capacity reservation payments. However, Hy Stor said it was not canceling the hydrogen hub itself. Back in February, Allentown, Pennsylvania-based Air Products announced plans to cancel several green hydrogen projects in the U.S., including a $500 million facility in New York and a sustainable aviation fuel project in California. These decisions are part of the company's broader $3.1 billion write-down and are driven by challenging commercial and regulatory factors, including the need to strengthen the company's focus on projects that deliver value for shareholders. Not even Europe's energy heavyweights have been spared the carnage. Last year, we reported that Shell Plc. (NYSE:SHEL) had scrapped plans to build a low-carbon hydrogen plant in Norway citing lack of demand, days before Norway's NOC Equinor ASA (NYSE:EQNR) announced similar plans, "We haven't seen the market for blue hydrogen materialize and decided not to progress the project," a Shell spokesperson has told Reuters. BP Plc. (NYSE:BP) said in April that it was abandoning its hydrogen ambitions in favor of liquefied natural gas (LNG) for transport. This week, BP announced that it will exit the $36-billion green hydrogen production facility planned in Australia. BP has informed its Australian Renewable Energy Hub (AREH) partners that it will leave its role as the project's operator and equity holder. Last year, Spain's Iberdrola (OTCPK:IBDRY)(OTCPK:IBDSF), Europe's largest utility, said it would scale back its green hydrogen investments by almost two thirds due to funding delays for some projects. The company cut its 2030 production target to ~120,000 tons of green hydrogen a year, down from its previous goal of 350,000 tons. Luxembourg-based ArcelorMittal S.A. (NYSE:MT) has abandoned plans to convert two of its steel plants in Germany to hydrogen, despite the steelmaker being offered 1.3 billion euros in public subsidies for the 2.5 billion euro ($2.9 billion) project. Meanwhile, back in February, Spain's Repsol (OTCQX: REPYY) scaled back its 2030 green hydrogen production target, cutting it by as much as 63%. The company's new target is between 0.7 and 1.2 gigawatts (GW) of electrolyzer capacity, down from a previous goal of 1.9 GW. Repsol cited challenges in market development, regulatory uncertainties, and the high cost of green hydrogen production, particularly without subsidies. The Australian market has been hard hit, too. In September 2024, Woodside Energy (NYSE:WDS), the country's largest independent oil and gas producer, shelved plans to build two green hydrogen projects in Australia and New Zealand. In March this year, giant oil and commodities trader Trafigura, ditched plans to build a green hydrogen plant at the company's Port Pirie lead smelter in South Australia for A$750 million ($491.5 million). Meanwhile, the Queensland state government pulled the plug on plans to fund a A$12.5 billion green hydrogen plant by 2028, with the massive project slated to become one of Australia's largest and most advanced green hydrogen projects. Finally, Japan's Kawasaki Heavy Industries announced it will not go ahead with its coal-to-hydrogen project in Latrobe, Australia, citing time and cost pressures. The mounting cancellations suggest a sector still searching for viable economics, not just policy certainty. While OBBBA's accelerated tax credit deadline has undoubtedly raised the stakes for U.S. developers, the global pullback points to deeper market fractures: low offtake demand, high capital costs, and insufficient infrastructure. With major players in the U.S., Europe, and Australia walking away or scaling back, the once-hyped green hydrogen boom is looking more like a trickle. For now. By Alex Kimani for More Top Reads From this article on
Malaysian Reserve
22-07-2025
- Business
- Malaysian Reserve
Air Products Appoints Matthew Lepore Executive Vice President, General Counsel and Secretary and Chief Compliance Officer
LEHIGH VALLEY, Pa., July 21, 2025 /PRNewswire/ — Air Products (NYSE:APD) today announced that Matthew Lepore has been appointed Executive Vice President, General Counsel and Secretary and Chief Compliance Officer effective August 18, 2025. Lepore brings 30 years of international legal, commercial and compliance expertise to the role. Lepore will report to Chief Executive Officer Eduardo Menezes and be based at the Company's global headquarters in Allentown, Pennsylvania. Commenting on Lepore's appointment, Menezes said, 'Matt is a seasoned executive and respected leader with a track record of driving efficiency, developing teams and upholding excellence across legal, transactional and governance disciplines. We look forward to him joining Air Products and being part of our team.' Lepore most recently served as Group General Counsel, President for Legal, Compliance and Insurance, Chief Compliance Officer, Chief Human Rights Officer and Corporate Secretary at BASF SE (Ludwigshafen am Rhein, Germany), a role he held since 2021. Prior to that, Lepore served as Senior Vice President and Global Head of Legal at BASF SE from 2018 to 2021; as Senior Vice President and General Counsel, Chief Compliance Officer and Corporate Secretary at BASF Corporation (New Jersey) from 2014 to 2018; and as Senior Vice President and Corporate Secretary and Chief Governance Officer at Pfizer, Inc. (New York) from 2008 to 2014. Before Pfizer, Lepore was a partner at law firm DLA Piper, U.S. LLP in Washington, D.C. and prior to that, a trial attorney for the U.S. Department of Justice. Lepore received his J.D. from Mercer University, Macon, Georgia, and his B.S. from James Madison University, Harrisonburg, Virginia. 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 and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally. Air Products had fiscal 2024 sales of $12.1 billion from operations in approximately 50 countries and has a current market capitalization of over $60 billion. For more information, visit or follow us on LinkedIn, X, Facebook or Instagram.
Yahoo
21-07-2025
- Business
- Yahoo
Air Products and Chemicals' Q3 2025 Earnings: What to Expect
Valued at a market cap of $65.7 billion, Air Products and Chemicals, Inc. (APD) is a top provider of atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, and internationally. The Allentown, Pennsylvania-based company is all geared to post its Q3 earnings on Thursday, Jul. 31, before the market opens. Ahead of the event, analysts expect APD to report an EPS of $2.98 per share, down 6.9% from $3.20 per share reported in the year-ago quarter. It has exceeded or met analysts' earnings estimates in three of the past four quarters, while missing in the last quarter. More News from Barchart It's Never 'Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate Ditch 'Basic' Nvidia and Buy This 'Unique' Chip Stock Instead Tesla Earnings, Powell Speech and Other Can't Miss Items this Week Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! For fiscal 2025, analysts expect APD to report an EPS of $12.03, down 3.2% from $12.43 in fiscal 2024. However, in fiscal 2026, its adjusted EPS is expected to grow 7.9% year-over-year to $12.98. Over the past year, APD shares have surged 10.8%, trailing the S&P 500 Index's ($SPX) 13.6% gains but surpassing the Materials Select Sector SPDR Fund's (XLB) marginal fall over the same time frame. On Jul. 18, APD shares soared marginally after the company announced a quarterly dividend of $1.79 per share, payable on November 10, 2025, to shareholders of record as of October 1, 2025. This continued dividend payout reflects Air Products' ongoing commitment to delivering value to its shareholders and maintaining a strong track record of consistent dividend distributions. The consensus opinion on APD stock is moderately optimistic, with an overall 'Moderate Buy' rating. Out of the 23 analysts covering the stock, 13 recommend a 'Strong Buy,' one advises a 'Moderate Buy,' eight suggest a 'Hold,' and the remaining analyst gives a 'Moderate Sell.' Its mean price target of $325 indicates a 10.1% upside potential from current price levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
10-07-2025
- Business
- Yahoo
Citigroup Upgrades Linde (LIN) to Buy, Raises Price Target
Linde plc (NASDAQ:LIN) is one of the 11 Best Foreign Stocks to Buy According to Hedge Funds. On June 30, Citi upgraded its rating on Linde plc (NASDAQ:LIN) from 'Neutral' to 'Buy' and raised its price target from $500 to $535. The research firm highlighted the company's strong execution on price and productivity, along with a large backlog of clean-energy projects, as reasons to expect continued margin growth even if demand remains patchy. Citi analysts forecast that Linde plc's (NASDAQ:LIN) EBITDA margin will exceed 40% by 2026 and they raised their EBITDA estimates to $13.3 billion for 2025 and $14.5 billion for 2026. A scientist in a lab coat inspecting a cylinder filled with industrial gas. In the March quarter, Linde plc's (NASDAQ:LIN) operating margin improved by about 120 basis points year-over-year even with flat sales volumes. Citi expects this trend to continue as the company focuses on price increases, cost control, and leveraging its high-quality project backlog. The company's management has visibility on $8 to $10 billion in capital spending related to energy‑transition projects like low‑carbon hydrogen and ammonia. The research firm now prefers Linde plc (NASDAQ:LIN) over its rival Air Products and Chemicals, which the firm views as having greater risk due to capital-intensive megaprojects and offtake agreements. Citi values Linde plc (NASDAQ:LIN) at about 19 times its forecasted fiscal 2026 EBITDA. The analysts believe that the premium is justified because of the company's project discipline, strong balance sheet, and possible early‑cycle gains when manufacturing activity rebounds. Linde plc (NASDAQ:LIN) is a leading global industrial gases and engineering company that is headquartered in Woking, United Kingdom, and registered in Ireland. It serves a range of end markets like chemicals and energy, food and beverages, electronics, healthcare, manufacturing, metals, and mining. While we acknowledge the potential of LIN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
27-06-2025
- Automotive
- Zawya
South Africa: Air Products and partners' hydrogen mobility ecosystem generate interest at Green Hydrogen Summit
Air Products, in partnership with Valterra Platinum and Toyota, highlighted the potential of sustainable green hydrogen mobility projects in South Africa by displaying a mobility ecosystem at the Green Hydrogen Summit in Cape Town last week. The key partners within the ecosystem each play a crucial role – Air Products produces, distributes and supplies the hydrogen and refuelling technology, and Valterra Platinum's products are used as catalysts in fuel cells which is an important aspect for Toyota's fuel cell elective vehicles (FCEV). At the opening of the event, both President Cyril Ramaphosa and the Minister of Electricity and Energy Kgosientsho Ramakgopa, highlighted the future opportunities of green hydrogen in South Africa, as well as on the African continent. Minister Ramakgopa visited the stand and was fascinated by the display and explanation by Air Products MD Charles Dos Santos on how the ecosystem works, and particularly the technology used for the refuelling of vehicles. The content shared during the panel discussions was extremely insightful and topical and ranged from skills to investment opportunities, to strategies and policies on green hydrogen in Southern Africa, as well as Africa. Globally, Air Products is a leader in green hydrogen and to this end, Charles Dos Santos provided valuable insight on efficient and sustainable logistics for green hydrogen. According to Dos Santos, South Africa has the resources, skills and ability to become a leader in the green hydrogen economy globally. However, he highlights the importance of the government and private sector to join forces and grow this green economy at our own pace and with the resources available in such a way that it is sustainable for investors.
