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Air Products Opens Hydrogen Fueling Station

Air Products and Chemicals, Inc. revealed a new hydrogen fueling station at its industrial gases facility in Ulsan City, South Korea. The station will be operated by the company and it will be built with its state-of-the-art hydrogen fueling technology. It is the first station built and operated by the private sector in the city under the South Korean government’s subsidy program.

The station is a company’s current commitment toward Ulsan city, which harbours the country’s hydrogen industry hub. Ulsan is one of the three pilot cities in the national hydrogen economy roadmap.

The Shares of Air Products have gained 33.5% in the past year compared with 72.2% rise of the industry. Air Products, in its first-quarter fiscal 2021 call, stated that it is optimistic about its profitable growth strategy of delivering innovative solutions for energy and environmental challenges despite the global economic uncertainty.

The company expects to meet customers’ and countries’ target for achieving cleaner and more sustainable solutions with its strong portfolio. Air Products has the leading position in South Korea and has been supporting hydrogen demonstration projects for more than a decade.

Ulsan is South Korea’s largest hydrogen production and distribution city and has been designated as a Free Trade Zone for hydrogen-mobility development. It has established itself as the centre of hydrogen fuel cell vehicles and was the first city to operate hydrogen buses and taxis. The company is expecting good opportunities in gasification, carbon capture and hydrogen for mobility. It plans to develop and invest in strategic opportunities to drive growth for decades to come. It currently carries a Zacks Rank #4.

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