Air Liquide’s €1.4bn third quarter investments across various mid-sized projects globally were at a ‘record’ level, according to CEO Francois Jackow.
The industrial major has been busy targeting opportunities in Asia, US and Europe.
In the US, it will supply oxygen to LG Chem for its electric vehicle battery plant in Tennessee, marking a $150m investment in an Air Separation Unit (ASU). The deal encompasses a liquefier storage equipment and small pipeline, enabling the company to more than double its local liquid capacities for the industrial merchant market.
“We will also source renewable electricity to offer our low-carbon products to customers,” Jackow said, in an earnings call. “This project highlights the group ability to leverage our traditional business model in supporting customers with the emerging energy transition markets.”
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