In response to media reports, Air Products confirmed that it is no longer involved in the coal-to-methanol Bengalon, East Kalimantan, Indonesia project, nor in other coal gasification projects in Indonesia. The financial landscape for blue and green hydrogen projects has significantly changed in the last year, driving increasing opportunities for Air Products to invest in these energy transition projects around the world. As a result, the company has decided to redeploy its financial resources on such energy transition opportunities. Air Products remains committed to its core industrial gas business in Indonesia.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on APD:
- Air Products upgraded to Buy from Hold at Vertical Research
- Evercore adds Air Products to ‘Tactical Outperform’ list, ups target
- Air Products price target lowered to $315 from $335 at Morgan Stanley
- Air Products price target lowered to $386 from $394 at BMO Capital
- Air Products post-earnings selloff overdone, says Mizuho