Air Liquide to Spend $9.5 Billion on Low-Carbon Hydrogen by 2035
- The gas giant aims to triple hydrogen sales to 6 billion euros
- Company to build 3 GW of electolyzers and CO2 storage plants
An employee works at the Air Liquide hydrogen plant in Port Jerome.
Photographer: Fabrice Dimier/Bloomberg
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Air Liquide SA, the world’s second-largest maker of industrial gases, plans to invest about 8 billion euros ($9.5 billion) in low-carbon hydrogen by 2035 as part of a plan to more than triple sales of the fuel to help clients curb emissions.
While producing clean hydrogen with electrolyzers is currently costlier than using fossil fuels, France and other European nations have pledged billions in subsidies over the next decade to reduce production costs in line with policies for the continent to become carbon-neutral by 2050.