Air Products has announced that it has acquired the remaining 50% stake in a gasification joint venture from China Shenhua Coal to Liquid and Chemical.
Air Products acquired General Electric’s gasification business in 2018 which included the 50% stake in a syngas joint venture with China Shenhua Coal to Liquid and Chemical, a subsidiary of China Energy Group. It has now bought the remaining stake to bring its ownership to 100%.
With this transaction, Air Products aims to strengthen its broader gasification technology portfolio in China. The financial details of the deal have not been disclosed.
Seifi Ghasemi, CEO of Air Products, said: “Our latest investment is another step to support our gasification growth strategy that addresses the world’s energy and environmental challenges. We continue to execute several megaprojects in China and around the world.”
by Amanda Doyle
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?