Air Liquide to Supply Oxygen to LG Chem for their Electric Vehicle Battery Plant in the United States
15 Ottobre 2024 - 5:45PM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) will invest around 150 million US
dollars to expand its production capacity and pipeline network in
Tennessee, U.S., in the context of a new long-term contract with LG
Chem. Supplying oxygen to LG Chem’s future cathode active material
plant, the Group will be supporting the growth of the battery
ecosystem in the United States. This investment will increase the
Group’s footprint in a key region and support the development of
its Industrial Merchant market.
Triggered by LG Chem’s new need for oxygen at their future
cathode active material manufacturing plant for lithium-ion
electric vehicle batteries, Air Liquide is investing 150 million US
dollars to build, own and operate a second ASU, liquefier, storage
and a pipeline at its Airgas production facility located in
Clarksville, Tennessee.
This investment reflects how the Air Liquide group is solidly
positioned to accompany its customers in the new Energy Transition
markets, including the structurally growing battery manufacturing
sector. The number of electric cars globally is expected to more
than triple by 20301.
As part of this investment, the expansion of the Airgas
facility, first inaugurated in 2013, is expected to be commissioned
in 2027. It will produce additional oxygen, nitrogen and argon
enabling the Group to seize growth opportunities, and ensure a
better density coverage of the region with a reliable supply to
industrial, healthcare, pharmaceutical, food production, water
treatment and other customers throughout Kentucky and Tennessee.
The Group will leverage electricity from renewable sources to
produce and make low-carbon products available to customers.
Matthieu Giard, Group Vice President, Americas, said:
“Serving a key industry in the energy transition, this
investment is in line with the Group’s ADVANCE strategic plan and
our commitment to supporting our customers with concrete solutions.
This is further recognition of our expertise in the United States,
where the energy transition is gaining momentum and where we
benefit from a solid position, combining both a historic presence
in major industrial basins as well as a local anchoring thanks to
Airgas. As part of the long-term contract signed with LG Chem, we
will be putting our solutions at the service of the battery
ecosystem in the United States. Additionally, through this
investment, Airgas will more than double its local liquid nitrogen,
oxygen and argon production which will enable us to support the
increasing demand from merchant customers in Tennessee and
surrounding states.”
Airgas,
Inc.
Airgas®, an Air Liquide company, is a
leading U.S. supplier of industrial, medical and specialty gases,
as well as hardgoods and related products; one of the largest U.S.
suppliers of safety products; and a leading U.S. supplier of
ammonia products and process chemicals.
Airgas helps its more than 1 million
customers advance their business performance and reach their full
potential with reliable products, services and expertise used to
create, build, care, serve and sustain. With nearly 18,000
associates, over 1,400 locations, a robust eBusiness platform, and
Airgas Total Access® telesales channel, Airgas is ready to help
customers fill their potential, every day.
As an Air Liquide company, a world leader
in gases, technology and services for Industry and Health, Airgas
offers customers an unrivaled global footprint and industry-leading
technology and innovations.
For more information, please visit
www.airgas.com
Air Liquide is a world leader in gases, technologies and
services for industry and healthcare. Present in 60 countries with
66,300 employees, the Group serves more than 4 million customers
and patients. Oxygen, nitrogen and hydrogen are essential small
molecules for life, matter and energy. They embody Air Liquide’s
scientific territory and have been at the core of the Group’s
activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 27.5 billion euros
in 2023. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50, FTSE4Good and DJSI Europe indexes.
1Source: IEA
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version on businesswire.com: https://www.businesswire.com/news/home/20241015707866/en/
Corporate Communications media@airliquide.com
Airgas Communications mediasupport@airgas.com
Investor Relations IRTeam@airliquide.com
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