By Pierre Bertrand

 

Air Liquide said on Tuesday that its subsidiary Shanghai Chemical Industry Park Industrial Gases Co. signed a bilateral green loan for around 67 million euros ($75.3 million) as part of a low-carbon hydrogen production project.

The funds relate to the subsidiary's project to build two low-carbon hydrogen production units and associated infrastructure in the Shanghai Chemical Industry Park, the French industrial gases company said.

The new units will replace a third-party coal-based gasification unit and will cut annual carbon-dioxide emissions by 350,000 tons, equivalent to electricity-related emissions of 1 million Chinese households, Air Liquide said.

BNP Paribas was the sole lending bank, Air Liquide said, adding that it is the first green loan to support low-carbon hydrogen production in alignment with the new China-European Union Common Ground Taxonomy.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

July 18, 2023 12:42 ET (16:42 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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