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Air Products (APD) Opens Hydrogen Fueling Station in Ulsan

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Air Products and Chemicals, Inc.  (APD - Free Report) recently unveiled a new hydrogen fueling station at its industrial gases facility in Ulsan City, South Korea.

The station is operated by the company and built with its state-of-the-art hydrogen fueling technology. It is the first station built and operated by the private sector in the city under the South Korea government’s subsidy program.

The station forms a part of the company’s current commitment toward Ulsan city, which harbours the country’s hydrogen industry hub. Ulsan is one of the three pilot cities in the national hydrogen economy roadmap.

Air Products has established a leading position in South Korea and has been supporting hydrogen demonstration projects for more than a decade. Ulsan is South Korea's largest hydrogen production and distribution city and has been designated as a Free Trade Zone for hydrogen-mobility development. It has established itself as the center of hydrogen fuel cell vehicles and was the first city to operate hydrogen buses and taxis.

Shares of Air Products have gained 33.5% in the past year compared with 72.2% rise of the industry.

Air Products, in its first-quarter fiscal 2021 call, stated that it is optimistic about its profitable growth strategy of delivering innovative solutions for energy and environmental challenges despite the global economic uncertainty. It expects to meet customers’ and countries’ target for achieving cleaner and more sustainable solutions with its strong portfolio.

The company is expecting good opportunities in gasification, carbon capture and hydrogen for mobility. It expects to continue to develop and invest in strategic opportunities to drive growth for decades to come.


Zacks Rank & Key Picks

Air Products currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the basic materials space include Fortescue Metals Group Limited (FSUGY - Free Report) , Ashland Global Holdings Inc. (ASH - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .

Fortescue has a projected earnings growth rate of 107.8% for the current fiscal. The company’s shares have surged 123.3% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank  stocks here.

Ashland has an expected earnings growth rate of 83.2% for the current fiscal. The company’s shares have gained 69.1% in the past year. It currently sports a Zacks Rank #1.

Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have rallied 267.6% in the past year. It currently flaunts a Zacks Rank #1.

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