Air Products shares hit over 2-year high after hydrogen plant announcement

AES

08/12/2022 16:15

** Shares of industrial gas supplier Air Products  APD.N 
hit more than two-year high
    ** APD and renewable energy firm AES Corp  AES.N  say they
will invest about $4 bln in building largest U.S. green hydrogen
plant  urn:newsml:reuters.com:*:nL4N32Y285
    ** Shares of Air Products up ~1%, while AES rises 3.3%
    ** APD and AES will have equal ownership of the plant's
renewable energy and electrolyzer assets, which help break water
into hydrogen and oxygen
    ** APD will be exclusive acquirer and marketer of the green
hydrogen from the plant under a 30-year deal
    ** YTD, APD is up ~5% vs ~6% fall in Dow Jones U.S. Basic
Materials index  .DJUSBM 
 (Reporting by Pratyush Thakur in Bengaluru)
 ((pratyush.thakur@thomsonreuters.com))