Gas and equipment supplier Air Products and Chemicals has announced that it is to increase its investment in hydrogen over the coming decade.

According to the company's chief financial officer Paul Huck, will invest $10 billion over the coming ten years in "on-purpose" hydrogen, which is made by itself rather than as a by-product of other processes.

That will be a major increase from the $5 billion Air Products has spent on the gas in the last decade, highlighting the importance of hydrogen today through its use as an alternative fuel source in fuel cells.

Further, the company predicts that hydrogen is going to become increasingly important to oil refineries, as the gas is used to reduce sulphur emissions from crude oil to provide greener energy.

Referring to the likely growth in demand from refineries as emissions rules become increasingly strict, Mr Huck commented: 'We do think that's a great opportunity for us."

Air Products is already the world's largest supplier of hydrogen and is keen to position itself as the main player in a "hydrogen economy", which analysts believe may be only a few decades away.


Ÿ Adfero Ltd