30 March 2020 Air Products Signs Agreements to Acquire Five Operating Hydrogen Plants for $530 Million and Long-Term Hydrogen Supply to PBF Energy View News Release ->
(WorldNews Environment)

March 30, 2020 Lehigh Valley, Pa. Air Products (NYSE: APD) today announced it has signed agreements with PBF Energy Inc. (NYSE: PBF) that include the $530 million purchase of five hydrogen steam methane reformer (SMR) hydrogen production plants and the long-term supply of hydrogen from those already operating plants to PBF refineries. The SMRs, with a combined nearly 300 million standard cubic feet per day of production capacity, are located in Torrance and Martinez, California and Delaware City, Delaware. The deal is targeted to close during the third quarter of Air Products` 2020 fiscal year. `Air Products has a very strong balance sheet. This puts us in an outstanding financial position...