Nippon Sanso cancels US hydrogen project and announces $190m write-down | Taiyo Nippon Sanso
Global industrial gases group Nippon Sanso Holdings Corporation (NSHD) has written off $190m following the cancellation of a hydrogen production plant in the US. NSHD’s decision came after a reassessment of the project’s viability. The company concluded that resuming construction, which was already paused, was no longer feasible, leading to the write-down of the plant’s value. The financial hit, however, is not expected to affect any other plans. This cancellation follows a wider trend in the industry. Air Products recently cancelled three major US hydrogen projects, resulting in a much bigger $3.1bn write-down. The company cited rising costs, regulatory challenges and concerns about the commercial viability of green hydrogen as reasons for the cancellations. Read more: Air Products axes three major US projects … to continue reading this article and more, please login, register for… Read More »Nippon Sanso cancels US hydrogen project and announces $190m write-down | Taiyo Nippon Sanso