Air Products Signs Virtual Power Purchase Agreement for Wind Electricity in Poland

Initiative supports Poland's renewable energy directives

News provided by

Mar 30, 2021, 10:00 ET

WARSAW, Poland, March 30, 2021 /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, has signed a long-term, virtual power purchase agreement (VPPA) in Poland with Scieki onshore wind farm, owned by Macquarie's Green Investment Group (GIG).

By 2030, Poland is aiming for renewables to make up 23 percent of its power generation, with wind energy making a significant contribution. Air Products' drive to increase renewable electricity sourcing through a VPPA with one of the world's largest teams of green infrastructure developers and investors complements the country's transformative Energy Policy.

Demonstrating Air Products' ongoing commitment to sustainable business management, the agreement equates to an emissions reduction equitable to removing 8,500 cars from Poland's roads. It also supports the company's "Third by '30' goal" to reduce its CO₂ emissions intensity (kg CO₂/MM BTU) by one-third by the year 2030 from a 2015 baseline.

Underpinned by its business and sustainability strategy, Air Products invests in many other projects across Poland that provide customers with cleaner energy solutions, such as:

The production and distribution of hydrogen for mobility and other sectors.
A state-of-the-art dry ice production facility, with significant improvements in plant energy efficiency.
Commitment to projects that reduce the energy intensity of installations and plants, water consumption and industrial steam consumption.
Telemetry systems to help customers optimally forecast their gas supplies. Monitoring the level of product enables a reduction in delivery frequency by almost a third, saves kilometers driven and subsequently reduces CO₂ vehicle emissions. Similar savings are also generated by Air Products' Gastrak^® service, which has been shown to reduce customers' welding shielding gas consumption by up to 65 percent.

"Delivering cleaner energy solutions is an important part of Air Products' past, present and future, not just for us as a company, but also for our customers, partners and the communities where we operate," said Jacek Cichosz, Air Products' general manager – Industrial Gases, Poland. "There is a real commitment in Poland and within the European Union, to address climate challenges with urgency and positive action. Air Products has that same desire towards an effective path in the broader energy transition."

Edward Northam, Head of GIG Europe – one of the world's largest teams of green infrastructure developers and investors - said "Air Products is playing a leading role in the energy transition. As such, we are delighted to structure this VPPA and play a role in accelerating Air Products' own renewable energy and sustainability journey in Poland."

The Air Products VPPA in Poland was advised by Schneider Electric, which acted as a full-service buyer's advisor and assisted Air Products in project selection and negotiations.

"Air Products is demonstrating its commitment to sustainability by signing a VPPA in Poland," said Philippe Diez, Vice President of Energy & Sustainability Services EMEA at Schneider Electric. "We want to congratulate Air Products on this sustainability milestone and for helping to accelerate the European renewable energy transition."

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale carbon-free hydrogen projects supporting global transportation and the energy transition.

The Company had fiscal 2020 sales of $8.9 billion from operations in 50 countries and has a current market capitalization over $60 billion. More than 19,000 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 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 Macquarie's Green Investment Group
Macquarie's Green Investment Group (GIG) is a specialist in green infrastructure principal investment, project development and delivery, green impact advisory and the management of portfolio assets. Its track record, expertise and capability make it a global leader in green investment and development, dedicated to accelerating the green transition.

Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie employs 16,356 people in 31 markets. At 30 September 2020, Macquarie had assets under management of €339.9 billion.

For more information, visit www.greeninvestmentgroup.com and www.macquarie.com.

About Schneider Electric
Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. www.se.com

NOTE: This release may contain 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 reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the company's Form 10K for its fiscal year ended September 30, 2020.

SOURCE Air Products