Air Products has completed the $530m acquisition of five steam methane reformer hydrogen production plants from PBF Energy and has commenced the long-term supply of hydrogen from those plants to PBF refineries.

As reported by gasworld late last month, the newly acquired plants, with a combined production capacity of almost 300 million standard cubic feet per day, are located in Torrance and Martinez, California and Delaware City, Delaware.

Air Products to acquire five hydrogen plants through $530m agreement

“We are very pleased that in close cooperation with our long-standing partner PBF, which is one of the largest independent refiners in North America, that we have been able to close on this transaction in record time,” said Seifi Ghasemi, Chairman, President and CEO at Air Products.

“We have now started supplying hydrogen to PBF from the five SMRs that we have purchased from them. This deal is an excellent example and demonstrates our ability to execute our strategy of investing in long-term onsite deals, which includes asset acquisitions like we have successfully closed.” 

“We look forward to a continued long-term relationship with PBF.”

Air Products currently operates 12 industrial gas facilities in California, which includes five hydrogen production plants. The Delaware City SMR is Air Products’ first major asset operating in Delaware.

“PBF Energy is pleased to have worked cooperatively with Air Products, a global leader in the supply of hydrogen to refineries, to complete this transaction and expand the long-term relationship between our two companies,” said PBF’s Chairman and Chief Executive Officer Tom Nimbley.