Air Products has withdrawn from a proposed $4.5bn 200-tonne-per-day green hydrogen project in North Texas, US, which was expected to begin operations in 2027, as it faces growing investor pressure.
Originally announced in partnership with AES Corporation in 2022, speaking on a Q4 2024 earnings call, Air Products CEO, Seifi Ghasemi, told investors that the industrial gas major had “stopped” its involvement in the project.
The CEO explained that Air Products does not take FID until it secures an “anchor customer” as it has “loaded 75% of our existing facilities.”
“As a result, there are not too many other projects in the pipeline,” he added, telling callers that the firm wanted to ensure it was investing in developing clean hydrogen in “a responsible way.”
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