Air Liquide to invest €8bn in hydrogen
French gases firm Air Liquide is looking to invest €8bn in developing a low-carbon hydrogen supply chain over the next 15 years, targeting €6bn in annual turnover from the sector by 2035.
Air Liquide revealed the plan on March 24 as part of a broader strategy to improve its environmental, social and governance (ESG) ratings – an increasingly important metric for investors. By 2030, it aims to have 3 GW of hydrogen-producing electrolyser capacity up and running, as well as potentially produce hydrogen from biomethane.
The company is also targeting a 33% reduction in Scope 1 and 2 CO2 emissions from its business by 2035 and wants to achieve carbon neutrality by 2050. Its goal is to reduce carbon intensity, in terms of kg CO2/€ Ebitda, by 30% by 2025 versus the level in 2015, and it wants to lower indirect emissions by improving energy efficiency and consuming more low-carbon electricity.
As a major player in healthcare, Air Liquide will also take steps to improve the quality of life of chronic patient at home in mature economies to boost its ESG score.