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On June 26, 2026, Air Products and Chemicals, Inc. decided to exit several clean energy initiatives, including the…
APDAir Products & Chemicals, Inc.
On June 26, 2026, Air Products and Chemicals, Inc. decided to exit several clean energy initiatives, including the Louisiana Clean Energy Complex, the Casa Grande Project in Arizona, and other small-scale clean energy distribution projects. The company expects to record a pre-tax charge of up to $2.9 billion ($2.2 billion after-tax) in the fiscal 2026 third quarter due to asset write-downs and contract terminations. Estimated cash expenditures for these exits are currently capped at $925 million. The decisions were driven by failure to meet return criteria, challenging commercial conditions, and slow market development in hydrogen for mobility. The company operates in the industrial gases industry, providing atmospheric and process gases, equipment, and related services.