Air Products & Chemicals Inc. APD declared that it will launch three more SmartFuel hydrogen fueling stations in California during October. The three stations will come onstream along with 25 other hydrogen fueling stations that involve Air Products and are currently in the construction, planning or permitting phase.
Air Products’ hydrogen fueling technology is already installed at nine SmartFuel stations in California, which fuels cars both in public and private use. The company is also in the process of adding six more fueling stations from awards granted by the California Energy Commission.
Air Products' SmartFuel stations provide hydrogen fueling at 700 bar (10,000 psi) globally and include its technology that is referenced in the Society of Automotive Engineers (SAE) J2601 hydrogen fueling protocol. The company has a number of SmartFuel station concepts which include modular and expandable technology and hold a global patent portfolio, with additional patents pending.
Further, the novel patented supply systems that will be introduced in California are cost effective and can cater to the markets where hydrogen fueling infrastructure may not exist, and can be installed anywhere in the U.S. The fueling stations will also include Air Products' advanced consumer-friendly retail hydrogen fuel dispenser, certified by the California Division of Measurement Standards.
The new Air Products offering is the market's first fully-integrated retail hydrogen dispenser that incorporates conventional consumer gasoline fueling and payment practices. It can easily meet consumer expectations of refilling hydrogen-powered fuel cell vehicles in a safe, fast, reliable and familiar manner.
Air Products also offers the hydrogen fueling technology and infrastructure for 19 stations for FirstElement Fuel, Inc.’s initial network of hydrogen fueling stations in California. Once these stations are online, the hydrogen fueling technology will be in place across 37 California locations.
The company’s share price rose 2.8% to close at $137.91 last Thursday.
Air Products carries a Zacks Rank #4 (Sell).
Some better-ranked companies in the diversified chemical space include Koppers Holdings Inc. KOP, Celanese Corp. CE and Arkema S.A. ARKAY. While Koppers sports a Zacks Rank #1 (Strong Buy), both Celanese and Arkema hold a Zacks Rank #2 (Buy).
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