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Air Liquide bets on US energy transition as investments hit record 4 billion euros – Hydrogen
November 9, 2023
https://hydrogen-central.com/air-liquide-bets-on-us-energy-transition-as-investments-hit-record-4-billion-euros-hydrogen/

Air Liquide’s (AIRP.PA) investment backlog hit a record 4.2 billion euros ($4.44 billion) in the third quarter, the French industrial gases firm said on Wednesday, eyeing growth opportunities coming from the U.S. energy transition in the future.

Francois Jackow, Chief Executive, during a post-earnings call, said: "Air Liquide will be a key player in the hydrogen development across the U.S."

In the next 12 months, the firm is considering spending 3.4 billion euros on investments, with about half of them in the energy transition field, including in the United States.

Air Liquide, one of the largest hydrogen producers in the world, is seen as a beneficiary of the global energy transition, supported by the U.S. Inflation Reduction Act(IRA) and the EU’s net-zero emissions programme.

U.S. HYDROGEN HUBS WIN
The French traditional company with 60 years of experience in hydrogen production, was chosen as a partner for six out of seven planned clean hydrogen hubs by the U.S. Department of Energy (DoE), which will allocate $7 billion for the projects within the bipartisan infrastructure law.

The hubs would connect future hydrogen plants, customers, and local energy infrastructure, and are set to be the basis for the country’s future clean energy network.

Deutsche Bank analysts estimate that thanks to the project, Air Liquide would be exposed to up to $16 billion of private investment.

This might potentially bring up about 264 million euros from tax returns to earnings by end-2024 already, as per Deutsche’s calculations, with any profit from the hubs’ operation five years away.