News Center
Air Products Will Not Proceed with Louisiana Clean Energy (LCEC) Project; Company Will Record Pre-Tax Charge in Fiscal Third Quarter; Finalizing Agreement with Yara for Renewable Ammonia from NEOM Green Hydrogen Project in Saudi Arabia
Air Products (NYSE:APD) today announced it will not proceed with the Louisiana Clean Energy Complex (LCEC) project. The LCEC project exit and other portfolio actions will result in a pre-tax charge in Air Products’ fiscal third quarter. Air Products also announced it is finalizing a marketing and distribution agreement with Yara International ASA (OSE:YAR) for renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia.
Investing to Power the Growing Space Launch Industry
Air Products is planning to build, own and operate a new air separation unit in Cocoa, Florida, to produce critical industrial gases and support continued growth of the space launch industry. With start-up targeted for the second half of 2028, the new facility will strengthen supply reliability and help meet increasing demand of liquid oxygen, nitrogen and argon products in the region.
More than Molecules
Air Products’ Industrial Gases Power NASA’s Historic Return to the Moon
On April 1, four NASA astronauts lifted off from the Kennedy Space Center aboard the Orion spacecraft for their 10-day Artemis II mission – powered by liquid hydrogen and liquid helium supplied by Air Products.NEOM Green Hydrogen Production Facility: A Landmark Project
Construction in final completion, and commissioning started with energization. The NEOM Green Hydrogen project includes:
- 257 wind turbines to generate 1.6 GW of clean wind energy.
- A solar farm the size of Manhattan to produce 2.2 GW of solar power.
- A dedicated transmission grid being constructed to carry 4 GW of renewable energy across the site.
Once operational, the facility will export up to 1.2M tonnes of green ammonia annually via a purpose-built jetty, supporting global energy and decarbonization efforts.
