| LEHIGH
VALLEY, Pa.-- Air Products (NYSE: APD) today announced it has acquired
Harvest Energy Technology, Inc., a leader in the development of hydrogen
generation technology for industrial and energy applications, to enhance
its overall global hydrogen product offerings. Terms of the deal for the
company based in Sun Valley, California are not being disclosed.
"This acquisition enables Air
Products to offer a cost-effective generated hydrogen solution to augment
our current gaseous tube trailer and liquid hydrogen tanker offerings,"
says Robert Dixon, senior vice president and general manager, Merchant
Gases at Air Products. "This new hydrogen generation offering rounds out
our merchant gases portfolio and enables us to better serve our customers
globally."
"We have worked with Harvest
on several hydrogen fueling projects for smaller scale systems. The combination
of Air Products' hydrogen pressure swing adsorption capabilities with Harvest's
reformer technology provides the lowest cost hydrogen available for the
merchant market in this production range. Beyond fueling stations, we have
already identified several global industrial applications for the system's
capabilities, enhancing our offerings to the steel, glass, metals processing,
and photovoltaic markets," said David Guro, the generated gases global
product manager for Hydrogen Generation and Purification at Air Products.
Guro added, "This highly packaged on-site hydrogen generation technology
allows for easy field installation and is an important addition to the
Air Products portfolio of hydrogen delivery options."
Air Products has teamed with
Harvest's patent-protected on-site reformer technology previously for two
United States Department of Energy hydrogen energy station and vehicle
fueling projects. The demonstration projects located in Las Vegas, Nevada,
and in State College, Pennsylvania at The Pennsylvania State University,
provided optimal testing grounds for the successful combination of the
two companies' technologies and also provided early insight to potential
industrial system applications.
"We are pleased to join a company
who is a leader in the supply of hydrogen for industrial and energy applications,"
said Dr. David Warren, chief executive officer of Harvest. "Our team is
looking forward to executing new projects and further developing larger
and more cost-effective hydrogen generators." Harvest's employees will
join Air Products and work from their existing California location.
Since 1998, Harvest had delivered
over 20 fuel processors to clients located throughout the world and has
gained unparalleled experience in the design, fabrication and operation
of shop-fabricated, automated steam methane reformer hydrogen generators.
Harvest partnered with leading companies to commercialize hydrogen technology
for industrial use, transportation and stationary power applications.
Air Products (NYSE: APD - News)
serves customers in industrial, energy, technology and healthcare markets
worldwide with a unique portfolio of atmospheric gases, process and specialty
gases, performance materials, and equipment and services. Founded in 1940,
Air Products has built leading positions in key growth markets such as
semiconductor materials, refinery hydrogen, home healthcare services, natural
gas liquefaction, and advanced coatings and adhesives. The company is recognized
for its innovative culture, operational excellence and commitment to safety
and the environment. Air Products has annual revenues of $10 billion, operations
in over 40 countries, and 22,000 employees around the globe. For more information,
visit www.airproducts.com. |