Air Liquide Announces Equity Investment to Support the Hydrogen Mobility Market in the U.S.

Air Liquide takes equity stake in FirstElement Fuel, Inc., a leading retail hydrogen station operator in California. This investment complements Air Liquide’s recently announced long-term hydrogen supply agreement with FEF. Through these agreements, Air Liquide and FEF continue to contribute to the growth of the hydrogen network in California which currently has the largest number of Fuel Cell Electric Vehicles on the road.

Air Liquide Hydrogen Energy U.S. LLC ("Air Liquide”) announces a $12 million equity investment in FirstElement Fuel, Inc. ("FEF”), a market leader in developing, owning and operating hydrogen refueling stations in California. This investment will help enable the ramp-up and deployment of hydrogen fueling infrastructure in California, including the further expansion of FEF’s "True Zero” branded retail hydrogen station network.

California currently has the largest number of Fuel Cell Electric Vehicles (FCEVs) and the state’s initial retail hydrogen station network ranks as one of the largest in the world. This investment combined with the long-term supply agreement Air Liquide recently announced with FEF will help ensure robust and reliable fueling to accommodate the 40,000 FCEVs expected to be deployed in California by 2022.

To sustain a robust hydrogen energy infrastructure deployment requires targeted investment. These agreements further demonstrate Air Liquide’s commitment to the development of hydrogen for mobility throughout the entire supply chain, and complement existing collaborations with Toyota, Honda, Mitsui and others.

Susan Ellerbusch, Chairman of Air Liquide Hydrogen Energy U.S. LLC said: "With our investment and collaboration with FirstElement Fuel and the recent announcement of our new hydrogen production facility to be constructed in the western U.S., Air Liquide further commits as a leader in the energy transition and the development of hydrogen for mobility throughout the entire supply chain. These investments build on existing collaborations with FEF, Toyota, Honda, Mitsui and others to help develop a robust and sustainable hydrogen fueling infrastructure in the U.S. and support the deployment of zero emission hydrogen Fuel Cell Electric Vehicles.”

Air Liquide in the U.S.

Air Liquide employs more than 20,000 people in the U.S. in more than 1,300 locations and plant facilities including a world-class R&D center. The company offers industrial and medical gases, technologies and related services to a wide range of customers in energy, petrochemical, industrial, electronics and healthcare markets. www.airliquide.com/USA

Air Liquide’s commitment to hydrogen energy

In the past 50 years, Air Liquide has developed unique expertise enabling it to master the entire hydrogen supply chain, from production and storage to distribution and the development of applications for end users, thus contributing to the widespread use of hydrogen as a clean energy source, for mobility in particular. Air Liquide has designed and installed more than 120 stations around the world to date.

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 66,000 employees and serves more than 3.6 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 company’s activities since its creation in 1902.

Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide’s revenue amounted to 21 billion euros in 2018 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.

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