Air Products has axed a 35-tonne US green hydrogen plant and exited a hydrogen-based sustainable aviation fuel (SAF) project as part of a $3.1bn write-down just weeks after investors ousted its former CEO.
It has also said it will soon provide updates on its 2.2GW NEOM green hydrogen plant and Louisiana blue hydrogen project.
Aimed at streamlining its capital spending, the industrial gas major has left three US projects in total, which it said would lead to $3.1bn in pre-tax charges to write down assets and terminate contracts.
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