LEHIGH VALLEY, Pa., Nov. 18, 2021 /PRNewswire/ -- Air Products (NYSE:APD) today received the Best Carbon Management Initiative Award from Chemical Week at the Chemical Industry Financial Outlook Forum & Sustainability Awards. Air Products received the recognition for its innovative net-zero hydrogen energy complex in Edmonton, Alberta, Canada.
"Air Products is honored to be recognized by Chemical Week with the Best Carbon Management Initiative Award for our new net-zero hydrogen energy complex in Alberta, Canada," said Rachel Smith, Air Products Canada Vice President in accepting the award. "This landmark facility is expected to achieve net-zero emissions through advanced technology, carbon capture and storage, and hydrogen-fueled power generation. Our new net-zero facility will enable significant greenhouse gas reductions and help transition to a cleaner energy future."
Air Products was one of six companies to be recognized during the 2021 Chemical Week Sustainability Awards. Chemical Week is a prominent source of news, data and analysis in the chemical industry. Entries for the Best Carbon Management Initiative Award were judged by a panel of industry and sustainability experts.
Chemical Week Award Judge Monika MacDevette, deputy director, ecosystems division, United Nations Environment Programme, called Air Products' Alberta project, "very innovative and forward looking," and cited the "commitment from [the] national government as well as significant investment commitment to innovation."
Air Products' Chairman, President and Chief Executive Officer Seifi Ghasemi also delivered an address during the conference.
He noted that hydrogen has been talked about as an energy of the future for years, but what's different today is the pressure to move away from hydrocarbons and the push for action now. "At Air Products, we want to be part of that solution," said Ghasemi. "We have made tremendous investments to help build the hydrogen economy. By being a first-mover in world-scale projects, such as our net-zero energy complex in Alberta, we are paving the way for a cleaner, more sustainable future and speeding the energy transition."
Earlier this year, Air Products, and its subsidiary Air Products Canada Ltd., in conjunction with the Government of Canada and the Province of Alberta, announced a $1.3 billion landmark net-zero hydrogen energy complex in Alberta, Canada. The facility is expected to deliver net-zero emissions and be capable of capturing over 95 percent of the carbon dioxide generated by the complex and permanently sequester it safely underground. Hydrogen-fueled electricity will offset the remaining five percent of emissions.
The clean energy complex will help refining and petrochemical customers served by the Air Products Heartland Hydrogen Pipeline to reduce their carbon intensity. The complex also marks a first in the wider use of hydrogen in Alberta, enabling the production of liquid hydrogen to be an emissions-free fuel in the transportation sector, and to generate clean electricity. This is expected to have a positive impact in lowering Alberta's carbon emissions.
The Chemical Week Best Carbon Management Initiative Award is the latest recognition Air Products has received for its sustainability and corporate responsibility efforts. Earlier this year, Air Products' sustainability efforts were recognized by Barron's, which named Air Products as the top climate aligned company in its 2021 Ranking of the Most Sustainable Companies in America. Overall, Barron's ranked Air Products 13th on its 100 Most Sustainable Companies list. Air Products was also awarded a gold medal rating for its Corporate Social Responsibility (CSR) performance from EcoVadis, a multinational CSR ratings agency, for the fifth year in a row, and named to the 100 Best Corporate Citizens List, published by 3BL Media, for the 10th consecutive year, and included in the Human Rights Campaign Foundation's 2021 Corporate Equality Index.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale carbon-free hydrogen projects supporting global transportation and the energy transition.
The Company had fiscal 2021 sales of $10.3 billion from operations in over 50 countries and has a current market capitalization of over $65 billion. More than 20,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.
Cautionary Note Regarding Forward-Looking Statements: This release contains "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 expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.
SOURCE Air Products