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May 15, 2020

Air Products and Topsoe sign global alliance agreement for collaboration on large-scale ammonia, methanol, and/or dimethyl ether projects around the world

LEHIGH VALLEY, PA (May 15, 2020) – Air Products (NYSE:APD), a global leader in industrial gases and megaproject development, and Haldor Topsoe, the world leader in high-performance catalysts and proprietary technology for the chemical and refining industries, today announced the signing of a global Alliance Agreement. The two companies will collaborate, using their extensive market network outreach for developing potential projects and the combination of their expertise on large-scale ammonia, methanol and/or dimethyl ether plants to be developed and built globally.

The Alliance Agreement provides Air Products access to Topsoe’s technology license(s) and the supply of certain engineering design, equipment, high-performance catalysts and technical services for ammonia, methanol and/or dimethyl ether plants to be built, owned and operated by Air Products. The collaboration allows for the integration of Topsoe’s technology into many Air Products’ technologies including gasification of various feedstocks, and synthesis gas processes.

“The global agreement with Haldor Topsoe is very important to Air Products as we continue to expand our scope of supply to customers in developing large-scale projects around the world. We have built a reputation for successfully executing megaprojects. Having this Alliance and access to Haldor Topsoe’s technology-leading capabilities will serve to strengthen both our offerings and customer confidence in the reliability and quality of project development and performance,” said Dr. Samir J. Serhan, executive vice president at Air Products.

“We are extremely satisfied to enter this Alliance. Air Products is an industry leader, and we share their commitment to providing customers around the world with excellent, innovative, and more sustainable solutions. This alliance forms the foundation for integrated large-scale projects that will benefit from the close collaboration and combined strengths of our two companies,” said Amy Hebert, Deputy CEO and Executive Vice President at Haldor Topsoe.

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Topsoe's proprietary autothermal reforming technology (ATR) will be one of the technologies offered to Air Products via the new alliance.  

Topsoe’s technology enables companies in the chemical and refining industries to get the most out of their processes and products, using the least possible energy and resources. On the forefront of developing sustainable technologies, Topsoe solutions enhance food production for the world’s growing population and help protect the environment. Half of all the ammonia used to make artificial fertilizer is produced using Topsoe catalysts.

Topsoe’s technology will be incorporated into Air Products’ recently announced world-scale coal-to-methanol production facility in Bengalon, East Kalimantan, Indonesia. In addition, Topsoe technology will also be part of the previously announced world-scale Gulf Coast Ammonia production plant in Texas. Air Products will supply hydrogen and nitrogen for the ammonia production in part from its largest-ever steam methane reformer.

Air Products’ involvement in these world-scale projects will capitalize on the alliance and deliver substantial sustainability benefits. These kinds of projects can serve as carriers of renewable hydrogen molecules as the world’s interest hydrogen for mobility and energy transition continues to grow. For more information on Air Products sustainability efforts visit airproducts.com/sustainability.

 

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for nearly 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals.

The Company had fiscal 2019 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $50 billion. More than 17,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the company’s Form 10K for its fiscal year ended September 30, 2019.

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Media Inquiries:

(Air Products) Art George, tel: +1 (610) 481-1340; email: georgeaf@airproducts.com

(Haldor Topsoe) Svend Ravn, tel: +45 22 75 43 58; email: svra@topsoe.com

Investor Inquiries:

(Air Products) Simon Moore, tel: (610) 481-7461; email: mooresr@airproducts.com

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