Air Products Qudra Signs Agreement with ENOWA to Build, Own and Operate NEOM's First Hydrogen Fueling Station

LEHIGH VALLEY, Pa., March 19, 2023 /PRNewswire/ -- Air Products Qudra today announced it has signed an agreement with ENOWA, NEOM's Energy, Water and Hydrogen subsidiary, to build, own and operate NEOM's first hydrogen fueling station, providing critical infrastructure for NEOM's sustainability goals.

The initiative will help to decarbonize heavy modes of transport in NEOM, covering buses and heavy-duty trucks. Groundwork for the hydrogen fueling station is scheduled to commence second half of 2023.

Commenting on the signing, Ebubekir Koyuncu, Air Products Qudra's Chief Executive Officer, said: "We look forward to contributing our world-leading hydrogen expertise and fueling technology in support of NEOM's decarbonization goals. Producing and distributing clean hydrogen energy solutions for use in heavy-duty fuel cell vehicles, as well as industrial applications and energy storage, is part of our DNA."

"ENOWA is committed to combating climate change and reducing CO2 emissions through green hydrogen. Therefore, we are delighted to partner with Air Products Qudra in providing hydrogen-powered mobility solutions. Jointly we accelerate innovations in clean technologies fueled by green hydrogen, and we contribute to hydrogen mobility markets and a sustainable future of global decarbonization," says Peter Terium, CEO of ENOWA.

Air Products Qudra is the development and investment company of Air Products in the Middle East with Qudra Energy as the joint venture partner, a subsidiary of Vision Invest. Air Products Qudra's mission is to generate a cleaner future, and that involves experience, technology, and innovation on a world scale. Air Products Qudra is the leading sustainability partner in the Middle East, supporting countries to achieve their industrial and net-zero targets.

About Air Products 

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of about $65 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world.. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram. 

About Air Products Qudra

Air Products Qudra is the regional development and investment joint venture (JV) for Middle East between Air Products and Qudra Energy, a subsidiary of Vision Invest. Air Products is a world-leading industrial gases company developing, engineering, building, owning and operating many of the world's largest industrial gas projects; Vision Invest is a leading development and investment Holding Company in the Kingdom of Saudi Arabia, with a diversified portfolio of investments across several sectors such as Utility, Infrastructure, Logistics and Industrial Gases with a global operational investment footprint.

Formed following several years of partnership between its parent companies, Air Products Qudra's mission is to bring world-class technology, on-site solutions, and leading project execution and operational leadership for large-scale energy and environmental projects throughout the Middle East region. For more information visit www.airproductsqudra.com

About ENOWA

ENOWA is the energy, water and hydrogen company of NEOM, Saudi Arabia. It produces and delivers clean and sustainable resources for industrial and commercial applications using a smart and connected infrastructure designed to be circular and takes advantage of NEOM's optimal solar and wind resources. ENOWA benefits from NEOM's greenfield site, which has no legacy infrastructure, to advance Energy, Water and Hydrogen innovation. ENOWA will act as a catalyst and incubator for developing new, sustainable energy and water businesses while creating a robust economic sector regionally. Through its commitment to renewable energy and efficient water management, ENOWA seeks to become a global reference for industry leaders and setting a benchmark for sustainable economic circular systems around the world.

Cautionary Note Regarding Forward-Looking Statements: This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs, or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.