Praxair Distribution, Inc. (PDI), a subsidiary of Praxair, Inc., announced its two joint venture companies operating in the southeastern U.S. have merged. Financial terms of the transaction were not disclosed.
The transaction involves merging Praxair Distribution Southeast, LLC (PDSE), a PDI joint venture operating in Florida and southeast Georgia since 1997, into Memphis, Tennessee- based nexAir, LLC (nexAir), a 75-year old company which entered into a joint venture with PDI in 2012, with locations in Alabama, Arkansas, Georgia, Louisiana, Mississippi and Tennessee. nexAir will grow to have annual sales of more than $200 million and 67 locations with the merger, adding coverage throughout the state of Florida. Its existing senior management team will continue to lead the combined business.
‘Both the PDSE and nexAir businesses have been very successful partnerships for PDI in the southeast and it makes sense to now combine them. It will allow us to streamline and simplify our management processes and improve customer focus and clarity around PDI’s channel strategy. Together we will provide a stronger network of services and capabilities throughout the region,’ said Scott Kaltrider, president Praxair Distribution, Inc.
Source: Praxair
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?
