HATTINGEN, Germany - Air Products (NYSE:APD), a global industrial gases provider, has secured funding from the Ministry of Economic Affairs, Industry, Climate Protection and Energy of North Rhine-Westphalia (NRW) for the construction of two large-scale hydrogen refueling stations (HRS) in Duisburg and Meckenheim. These stations will serve heavy-duty vehicles, contributing to the region's goal of establishing a zero-emission fleet.
The company, with over six decades of presence in Germany, will build, own, and operate the refueling stations, which are designed to accommodate a variety of vehicles, including medium and heavy-duty classes. The HRSs will be integrated into Air Products' European network, enhancing the hydrogen infrastructure necessary for the expansion of zero-emission transportation.
With a reputation as the world's largest hydrogen supplier, Air Products brings extensive experience from over 250 hydrogen fueling station projects across 20 countries. This initiative aligns with the company's commitment to supporting the transition to low- and zero-carbon energy sources in the transportation and industrial sectors.
The funding is part of NRW's broader hydrogen strategy, which includes ambitious targets to decarbonize heavy-duty transport. By 2030, NRW aims to have 11,000 hydrogen fuel cell trucks, 3,800 fuel cell buses for public transportation, and 200 hydrogen fueling stations in operation.
Jorg Homberg, General Manager for Air Products Germany, expressed enthusiasm for the project, emphasizing the importance of supporting truck operators in integrating hydrogen fuel cell trucks into their operations.
NRW's Minister for Economic Affairs, Industry, Climate Protection and Energy, Mona Neubaur, highlighted hydrogen's role in achieving climate-neutral heavy goods transport and the need to accelerate the development of hydrogen infrastructure.
Air Products, with a market capitalization of around $60 billion, continues to focus on sustainability-driven growth, leveraging its expertise in industrial gases, clean hydrogen projects, and liquefied natural gas technology.
This expansion is based on a press release statement.
InvestingPro Insights
Air Products (NYSE:APD), while making strides in sustainability through its hydrogen projects, is currently trading at a P/E ratio of 21.99, which is high relative to its near-term earnings growth. The company's dedication to shareholder returns is evident, having raised its dividend for 41 consecutive years, a testament to its financial resilience and commitment to long-term investor value.
The market capitalization of Air Products stands at $51.75 billion, reflecting the significant scale of its operations globally. With a strong track record of profitability over the last twelve months, as evidenced by a robust operating income margin of 21.45%, the company is well-positioned to continue its growth trajectory in the industrial gases sector.
Investors considering Air Products should note that the company has a dividend yield of 2.98%, rewarding shareholders while it pursues growth in the green energy sector. The InvestingPro platform offers additional insights and analytics, including more InvestingPro Tips for APD, which can be accessed at https://www.investing.com/pro/APD. For those looking to delve deeper into the company's financials and forecasts, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 4 more InvestingPro Tips available, providing a comprehensive analysis for informed investment decisions.
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