Air Products To Fuel Hyundai's First Hydrogen-Powered Car

Industrial gas giant Air Products & Chemicals Inc. APD has declared the sale of a hydrogen fueling station to Hyundai Motor Company Australia (“HMCA”) for fueling the latter's first hydrogen-powered car. 

 

Hyundai's hydrogen-powered zero-emission fuel cell electric vehicle (“FCEV”), Hyundai ix35, will be imported to Australia for demonstrating the advantages of hydrogen-powered fuel cell electric vehicle technology in the country. Air Products' hydrogen fueling station, which is presently under commissioning, will be situated at Hyundai's New South Wales offices just outside of Sydney. 

 

Air Products is working with Hyundai and other vehicle manufacturers to expand its footprint in the hydrogen fueling market around the world. It also wants to emphasize the benefits of hydrogen as a better and clean fuel due to its zero-emission technology. 

 

Air Products' SmartFuel hydrogen fueling stations, which have proven to be quite compact and economical, are functioning in over 21 countries as standard product units. Moreover Air Products is also working with an Australian-owned industrial, medical and specialty gas company, Coregas Ltd. Pty. as a local supplier of hydrogen. 

 

Air Products is a leading supplier of hydrogen in the world with over 50 years of experience in hydrogen and its related technologies. Hydrogen is abundant, non-toxic and efficient, and does not produce any emission which is why it is used as an energy supplier. Hence, Air Products' fueling technology is gaining popularity with over 1,000,000 hydrogen fills per year. The company is also working in over 180 hydrogen fueling projects worldwide.

 

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

 

Better-ranked companies worth considering in the same sector  include Innospec Inc. IOSP, Kronos Worldwide, Inc. KRO and Valhi, Inc. VHI, all sporting a Zacks Rank #1 (Strong Buy).