Markets
APD

Air Products Inks License Deal for Hydrogen Fueling Protocol

Air Products and Chemicals, Inc.APD announced that it has signed an agreement to provide a technology license that will enable Air Liquide Advanced Technologies U.S. LLC to practice the patented Air Products technology incorporated in the Society of Automotive Engineers (SAE) J2601 hydrogen fueling protocol.

Air Products utilizes the patented hydrogen fueling technology in combination with the J2601 protocol at its own SmartFuel stations and at the ones built for customers. Also, as the hydrogen fueling network in the U.S. and around the world continues to expand, the company plans to include further licenses for its technology. Such hydrogen fueling technology licenses made by the company are available for use around the world under fair, reasonable, and non-discriminatory (FRAND) terms.

Hydrogen fueling is provided at 700 bar (10,000 psi) by SmartFuel stations spread across the world. This novel patented supply system can be deployed anywhere in the U.S. in a cost-efficient manner such that they can be catered to the new markets requiring hydrogen fueling infrastructure.

The use of this fueling technology has been increasing and is already being used in conducting roughly 1,000,000 hydrogen fills a year.

The company recently introduced a new business unit to help hydrogen producers improve productivity and reliability at their own plants.

Air Products recorded higher profits in second-quarter fiscal 2016 (ended Mar 31, 2016), backed by restructuring and self-help measures. Adjusted earnings of $1.82 per share for the quarter beat the Zacks Consensus Estimate, while revenues of $2,271.2 million missed the same. The company reported double-digit EPS growth for the seventh consecutive quarter.

Air Products currently has a Zacks Rank #3 (Hold).

Some better-ranked companies in the chemical space include Innophos Holdings Inc IPHS , Albemarle Corp. ALB and BASF SE BASFY , all sporting a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

BASF SE (BASFY): Free Stock Analysis Report

AIR PRODS & CHE (APD): Free Stock Analysis Report

ALBEMARLE CORP (ALB): Free Stock Analysis Report

INNOPHOS HLDGS (IPHS): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

APD ALB BASFY

Other Topics

Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More