On September 16, Air Products (NYSE:APD) said it had signed a long-term deal to supply high-purity gases to a leading chipmaker, backed by roughly $250 million of its own money in Arizona. It is the company's second semiconductor supply win, and the two projects together carry more than $900 million of investment. That is a notable turn for a company that has been pulling back from big clean-energy projects.
The Arizona project plays to what Air Products already does. It will build, own, and operate the equipment, from hydrogen generation units and carbon dioxide purification to bulk supply for three gases: helium, hydrogen, and carbon dioxide. That means the customer's gas supply runs through equipment Air Products owns. Supply is targeted to start in phases, so the buildout can move alongside the customer's expansion plans. And this is familiar ground. Air Products has supplied electronics makers for more than 40 years, and its Chandler facility has served the Phoenix chip cluster since 1981, with a pipeline system carrying ultra-high purity nitrogen around the area.
The core business gives the deal a solid floor. In the fiscal third quarter, reported on July 30, adjusted earnings per share rose 12% to $3.47, and management lifted its full-year outlook to an adjusted $13.39 to $13.49 per share. Margins widened as well, so growth is showing up as profit. Chips appear elsewhere in the results too, since the company announced a deal to build four large air separation units to serve a chipmaker's growth in Taiwan.
The cost of the pivot is hard to ignore. On June 30, Air Products announced it would not go ahead with its Louisiana Clean Energy Complex and would discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona, plus other smaller clean energy distribution projects. The exits triggered roughly $2.9 billion in pre-tax charges, which is why the company posted a GAAP loss of $6.47 per share in the third quarter even as its underlying earnings grew. Adjusted results leave that hit out, but the GAAP numbers show what the retreat cost.
Owning the ****** ets also means funding them. Air Products expects about $3.5 billion of capital spending in fiscal 2026, and the Arizona plant alone is a commitment of approximately $250 million, with supply arriving in phases. The release also leaves gaps: it does not name the customer or say how long the contract runs, so the length of the revenue stream is unclear. Elsewhere, Europe's operating income rose only 2% as costs climbed, and management says it is still cautious about the economic backdrop.

#clean #adjusted

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French gases group Air Liquide is getting the activist-investor treatment.
Elliott reportedly built a stake and wants the firm to sharpen margins. Investors liked the idea, sending the shares higher as the market started pricing in a little less patience and a little more pressure.
Elliott's been engaging with the company for months, though the the size of the stake is not known. The message, however, is clear: improve margins and compete harder with the sector's best operators.
Air Liquide is not exactly a wounded minnow. The Paris-based group is worth about €108 billion (about $125 billion) and supplies gases including oxygen, nitrogen and hydrogen to factories, hospitals, semiconductor plants and energy customers. It is one of Europe's major industrial champions. But activists don't usually arrive because everything looks perfect.

#liquide #gases #stake

WASHINGTON (AP) — A divided federal appeals court on Tuesday said the Trump administration improperly terminated billions of dollars in funds to boost clean energy projects, handing a win to a coalition of nonprofits picked to run the Biden-era effort.
Climate United Fund and other nonprofits won't have access to their funds immediately as the decision will be put on hold for several days giving the Environmental Protection Agency time to ask the Supreme Court to step in.
The judgement by the full U.S. Court of Appeals for the District of Columbia is a loss for the Trump administration in one of its earliest efforts to dismantle President Joe Biden's campaign to reduce climate-warming greenhouse gases. The Greenhouse Gas Reduction Fund, commonly referred to as a "green bank," is a $20 billion congressionally authorized program that provided money to nonprofits that would then make loans and invest in small energy projects, energy-efficient buildings and transportation.
EPA Administrator Lee Zeldin accused Climate United Fund and other nonprofits picked to run the green bank of mismanagement and potential fraud. He froze billions that had been placed in a Citibank account for the program and then terminated their grants. The groups disputed any wrongdoing and sued, arguing the Trump administration broke the law and violated the Constitution by not spending money authorized by Congress.
"Despite efforts to harm the awardees with false allegations and misinformation, there remains no legal basis for terminating our grant award and clawing back funds that were already disbursed in our bank accounts," Climate United said in a statement.

#fund #administration #energy

With a market cap of $233.5 billion, Linde plc (LIN) is a global leader in industrial gases and engineering, delivering innovative technologies and high-quality solutions across diverse industries worldwide. Committed to making the world more productive, the company helps customers improve efficiency while supporting sustainability through decarbonization, clean energy, and advanced gas processing solutions.
The Woking, the United Kingdom-based company is set to unveil its fiscal Q2 2026 results before the market opens on Friday, Jul. 31. Ahead of the event, ******* ysts forecast LIN to post an adjusted EPS of $4.49, a growth of 9.8% from $4.09 in the same quarter last year. It has surpassed Wall Street's bottom-line projections in the past four quarters.
PayPal Says a $53 Billion Takeover Offer from Stripe Undervalues It. How to Play PYPL Stock Here.
Billionaire Jeff Bezos Called Amazon's Customer Service to Prove a Point But Waited in Silence for More Than 10 Minutes — 'It Was Really Long'
Micron Stock Is Near Bear-Market Territory. Here's Why ASML's Guidance Says Buy the Dip.

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With a market cap of $66.1 billion, Air Products and Chemicals, Inc. (APD) is a global industrial gases company that supplies atmospheric, process, and specialty gases, along with related equipment and services, to customers across the Americas, Asia, Europe, the Middle East, India, and other international markets. It serves a wide range of industries, including chemicals, manufacturing, electronics, energy, healthcare, food, and metals processing.
The Allentown, Pennsylvania-based company is set to unveil its fiscal Q3 2026 results soon. Ahead of the event, ****** ysts forecast APD to post an adjusted EPS of $3.35, a growth of 8.4% from $3.09 in the same quarter last year. It has surpassed Wall Street's bottom-line projections in three of the past four quarters while missing on another occasion.
Jeff Bezos Says 'We Don't Have a Revenue Problem' in America — Bottom Half Paying Just 3% of Taxes Means 'We Can Find 3%'
SpaceX Has Massive Multiyear Put Options Volume As SPCX Falls Below IPO Price
Intel Stock Is 'Too Good to Ignore' as HSBC Sets a New Street-High Price Target

UK 'discussing options' to help US secure Strait of Hormuz

President Donald Trump may have risen the stakes in the US and Israel's war in Iran, while millions of displaced Palestinians have been hit by a heavy sandstorm, ITV News' Mahatir Pasha and Sabah Choudhry report.
Trump has appealed to the UK and other nations including France, China and ****** an to send warships to the Strait – a vital passage for global shipments of oil and natural gases
US forces have struck targets on Iran's Kharg Island – a vital part of the country's oil infrastructure – with Donald Trump threatening to "wip

Detailed measurements collected in metropolitan Tel Aviv, Israel, have revealed how the ebb and flow of traffic throughout the week affects the electric field generated by Earth's atmosphere.
Led by researchers from The Hebrew University of Jerusalem in Israel, the study used an electric field mill deployed in the city of Holon in 2024, matching its results with air quality data over a period of seven months. Only measurements from fair weather days were included to filter out interference from rain and storms.
A number of specific pollutants were tracked, including gases and particles from

Chinese scientists have developed a new method to directly manufacture rubber and plastic from a mixture of hydrogen and carbon monoxide gases, an advance that could reduce industrial reliance on fossil fuels.
Olefins, or organic compounds, derived from petroleum are the building blocks for many polymers, including commonly used plastic and rubber products.
This has directly amplified the carbon footprint of the entire industry.
While alternatives exist – such as the use of a mixture of hydrogen and carbon monoxide gases called syngas from decomposing organic matter – these have been shown

Fusion energy, the result of two lighter atoms coming together to form a heavier one, can release massive amounts of energy without harmful carbon pollution, making its potential widespread use a goal for many. Not only could its use eliminate reliance on dirty energy sources, but, in theory, it could provide humanity with virtually limitless, incredibly affordable, clean energy.
By diversifying clean energy sources with nuclear energy, like fusion, the atmosphere would contain fewer heat-trapping gases, which would cool the planet and lead to cleaner air and water, reducing pollution-related

Wildfires in Canada mean parts of the upper Midwest are dealing with smoke, which contains hazardous pollutants such as toxic gases and particulate matter.

Here’s how to protect yourself.