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Air Products Awarded Several Long-term Liquid Hydrogen Supply Contracts by Industrial Customers in China

Contracts Reinforce the Company’s First Mover and Leading Position in Liquid Hydrogen

Air Products (NYSE: APD), a world-leading industrial gases company with 65 years of experience supplying hydrogen around the world and 35 years serving China, today announced that it has been awarded several long-term liquid hydrogen supply contracts by leading manufacturers from high-end industries in China. These long-term contracts reinforce Air Products’ first mover and leading position in liquid hydrogen to support the country’s high-quality development of the manufacturing industry. 

China liquid hydrogen contract signing

During the 5th China International Import Expo held in Shanghai, a contract signing ceremony was held between Air Products and one of its key customers Porite Yangzhou Technology & Industry Co., Ltd., a joint venture company of a global powder metallurgy leader, Porite.

Under these contracts, Air Products will install, own and maintain the liquid hydrogen systems at the customers’ site to supply large volumes of liquid hydrogen to support their production needs. 

Air Products is building its first liquid hydrogen production facility in China, which will also be China’s first and largest commercial-scale liquid hydrogen production plant of its kind in Haiyan County, Jiaxing City of Zhejiang Province. Expected to come onstream in 2023, the plant will supply large volumes of liquid hydrogen for industrial markets including metal processing, fine chemicals and electronics, and the rapidly developing hydrogen for mobility market. 

“Air Products has been accelerating its investment and hydrogen capabilities in China. Our first and also China’s first commercial-scale liquid hydrogen plant in Haiyan is one of the strategic projects to support the country’s clean energy transition and ‘carbon peak and carbon neutrality’ goals,” said Saw Choon Seong, China President at Air Products. “Liquid hydrogen is an ideal choice for industries that require large volumes of hydrogen with high-purity and quality. As the world’s largest hydrogen provider, we are very pleased to bring our innovative technologies and supply chain expertise with local production capability to support the industry sector’s transition to liquid hydrogen.” 

Air Products has proven experience across the hydrogen value chain, including production, distribution, storage, liquefaction and refueling applications. The company operates several liquid hydrogen production plants including facilities in Texas and Louisiana in the United States, Ontario in Canada, and Rotterdam in the Netherlands, as well as the world’s largest hydrogen pipeline system in the U.S. Gulf Coast.

As one of the first multinational gas companies entering China, Air Products has operated in China for 35 years and is committed to supporting the country’s sustainable development. The company has participated in several hydrogen demonstration projects, including the 2008 Beijing Olympic Games and 2022 Beijing Winter Olympics, to drive the use of hydrogen as a clean energy source. It also has  participated in the development of group codes for the industry to set higher technical standards on safety and reliability for liquid hydrogen storage and distribution.

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. The Company has two growth pillars driven by sustainability. Air Products’ base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of more than $60 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

Air Products’ Cautionary Note Regarding Forward-Looking Statements: This release contains “forward-looking statements” within 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 release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.