Air Liquide today reaffirmed US hydrogen infrastructure assets as one of its four core growth engines, after group revenues fell 2.4% in the third quarter on the back of currency impacts and lower energy prices.
The assets category complements investment in electronics and healthcare, the energy transition – such as the 200MW ELYgator electrolyser project in the Netherlands – and strategic and bolt-on acquisitions, like DIG Airgas in South Korea and NovaAir in India, which was announced yesterday.
Earlier this month the French industrial gas major announced it would invest $50m to upgrade existing hydrogen infrastructure as part of newly signed hydrogen supply deals with two US refiners.
The investment will expand pipeline capacity and integrate new distribution systems to strengthen its footprint in Texas, where it already operates pipeline infrastructure and its La Porte hydrogen facility.
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