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
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