Technology Advancements and Increased Vehicle Volumes Key in Achieving Pricing Milestone
06/03/2017 Lehigh Valley, Pa.
Air Products (NYSE: APD), a leader in hydrogen fueling and infrastructure worldwide, today announced that it has achieved a pricing milestone at several California fueling stations, which are now offering hydrogen to fuel cell electric vehicle customers at under $10 per kilogram. Advancements in fueling technology and a greater volume of vehicles now using the stations were important factors in allowing the pricing move to less than $10 per hydrogen kilogram ($9.99/kg).
“There were several recent advancements we were able to make in fueling station technology and in distribution to push pricing below $10 per kilogram. There has also been a marked increase in vehicles using our stations, and an even greater outlook for the volume of hydrogen fuel cell electric vehicles to be coming to market in 2017 and 2018,” said Ed Kiczek, global business director – Hydrogen Energy Systems at Air Products.
Currently there are five Air Products California hydrogen fueling stations able to provide hydrogen at this new pricing milestone. The five stations are all supplied with hydrogen from Air Products’ world-class hydrogen production and pipeline-connected facilities in Wilmington and Carson, California. The stations with the new pricing are located in West Los Angeles, Woodland Hills, Fairfax, Santa Monica, and the fifth is soon-to-be operational in Lawndale.
Kiczek added that lower hydrogen fueling costs, and the fact that hydrogen as an energy carrier in a fuel cell electric vehicle is almost two-and-a-half times more efficient than traditional fuels in an internal combustion engine, are significant benefits to hydrogen as an alternate fuel source. “We are always looking for ways to be cost efficient with our fueling stations and our overall supply chain. We are very pleased to have successfully achieved a publicly-stated automobile manufacturers’ challenge to be able to provide hydrogen at less than $10 per kilogram,” Kiczek said.
Air Products hydrogen fueling stations all conform to industry dispensing standards. Further, 22 of the 25 hydrogen fueling stations operating in California today include Air Products supplied equipment, technology and hydrogen supply.
Air Products, the leading global supplier of hydrogen to refineries to assist in producing cleaner burning transportation fuels, has vast experience in the hydrogen fueling industry. In fact, several sites today for certain hydrogen fueling applications are fueling at rates of over 75,000 refills per year. Use of the company’s fueling technology is increasing and accounts for over 1,000,000 hydrogen fills per year. The company has been involved in over 200 hydrogen fueling projects in the United States and 20 countries worldwide, including China. Cars, trucks, vans, buses, scooters, forklifts, locomotives, planes, cell towers, material handling equipment, and even submarines have been fueled using Air Products’ technologies. Details on Air Products’ hydrogen fueling station technologies can be viewed at www.airproducts.com/h2energy.
Air Products has more than 60 years of hydrogen experience and an extensive patent portfolio in hydrogen dispensing technology. The company provides liquid and gaseous hydrogen and a variety of enabling devices and protocols for fuel dispensing at varied pressures. Hydrogen for these stations can be delivered to a site via truck or pipeline; it can also be produced by natural gas reformation, biomass conversion, or by electrolysis, including electrolysis driven by renewable energy sources such as solar and wind.
About Air Products
Air Products (NYSE: APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company’s core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2016 sales of $7.5 billion from continuing operations in 50 countries and has a current market capitalization of approximately $30 billion. Approximately 16,000 employees are making Air Products the world’s safest and best performing industrial gases company, providing sustainable offerings and excellent service to all customers. For more information, visit www.airproducts.com.
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, 2016.