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Baker Hughes Partners With Air Products for Hydrogen Projects

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Baker Hughes (BKR - Free Report) has teamed up with Air Products (APD - Free Report) for developing next-generation hydrogen compression. This is likely to lower production costs. It will also fast-track the acceptability of hydrogen as a zero-carbon fuel.

With the collaboration, Baker Hughes is expected to provide advanced hydrogen compression and gas turbine technology to Air Products for key projects across the world.

Baker Hughes is a world-class player in advanced hydrogen compression and gas turbine technology, which convinced Air Products to collaborate with the Houston, TX-based company. The production costs of hydrogen are likely to get lowered drastically when the transformative hydrogen compression and gas turbine technology will get employed. This will probably help Air Products — the largest producer of hydrogen in the world — to produce economically viable blue and green hydrogen, and will thus create a net-zero future.

Currently, Baker Hughes carries a Zacks Rank #3 (Hold), while Air Products has a Zacks Rank #2 (Buy). Meanwhile, two better-ranked players in the energy space are Whiting Petroleum Corporation (WLL - Free Report) and Oasis Petroleum Inc. (OAS - Free Report) . Both companies currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.

Oasis Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.

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