Air Products & Chemicals Inc.
) and Nippon Steel & Sumikin Pipeline & Engineering Co.
Ltd. ("NSPE") have signed a deal to jointly work on Japan's
developing hydrogen fueling infrastructure market. The agreement
also involves a goal to finalize a long-term marketing and supply
relationship deal between the U.S. and Japan-based companies.
The agreement is a stepping stone for both the companies'
entrance into Japan's hydrogen fueling market. Japan is making
efforts to develop a hydrogen fueling infrastructure. The
Japanese government is planning to install 100 hydrogen fueling
stations by 2015 and 1,000 by 2025, and plans to distribute the
Fuel Cell Vehicles (FCV).
NSPE's technologies and experience in the natural gas and LNG
sector, and Air Products' unique advanced hydrogen fueling
technology will enable Japan to significantly contribute to
fulfilling this target.
Air Products will work in Japan through its established
fully-owned subsidiary, Air Products Japan, on hydrogen fueling
As part of the agreement which is yet to be formalized, Air
Products will supply SmartFuel hydrogen fueling station
technology and the fueling protocol license, infrastructure
engineering and design, while NSPE will provide engineering,
construction, and adapt the technology for the Japanese market.
Through the partnership, Air Products will benefit from a diverse
customer base, sustained pricing power and cost-reduction
Air Products is a Zacks Rank #3 (Hold) stock.
Other companies in the chemical space worth considering
Northern Technologies International Corp.
Akzo Nobel NV
). While Methanex and Northern Technologies sport a Zacks Rank #1
(Strong Buy), Akzo Nobel holds a Zacks Rank #2 (Buy).
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METHANEX CORP (MEOH): Free Stock Analysis
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