Air Products has acquired the remaining 50% equity stake in its gasification technology joint venture (JV) with China Shenhua Coal to Liquid and Chemicals, a subsidiary of China Energy Group.
The industrial gas giant today (15th April) confirmed the news as part of an effort to broaden its gasification technology portfolio and integrate technical and engineering resources in China.
“Our latest investment is another step to support our gasification growth strategy that addresses the world’s energy and environmental challenges,” said Seifi Ghasemi, Chairman, President and CEO at Air Products.
“We continue to execute several megaprojects in China and around the world. The acquisition further strengthens our position to leverage our complete gasification technology portfolio to serve our customers.”
Air Products acquired its initial 50% equity stake in the JV as part of its acquisition of General Electric Company’s gasification business from GE Power in 2019.