Air Products Acquires Harvest
Energy Technology to Enhance Global Hydrogen Product Offerings
LEHIGH VALLEY, Pa. (August 20, 2008) –
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) 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
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