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Linde (LIN) Inks Accord With Infineon to Supply Green Hydrogen

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Lindeplc (LIN - Free Report) recently announced that it has entered into a deal with Infineon Technologies.

Following the long-term accord with the semiconductor manufacturer, the leading global industrial gases and engineering company will engage in on-site production and storage of high-purity green hydrogen. Linde will also be supplying other industrial gases.

In the process of manufacturing semiconductor, this is the first time that Infineon Technologies has decided to use green hydrogen.

At Villach site of Infineon in Austria, Linde has planned for building and operating a two-megawatt electrolyzer plant. Employing Proton Exchange Membrane (PEM) technology, the plant will be producing green hydrogen. For meeting the rigorous specifications that are a must for the manufacturing process of Infineon, the produced green hydrogen from the plant will get purified by Linde. With the utilization of the high-purity green hydrogen at its Villach site, Infineon will lower its emissions of greenhouse gas.

For delivering a reliable supply of nitrogen, Linde has decided to manufacture and operate a compact air separation plant at the Villach site. For meeting expanding requirements of Infineon that will require the supply of additional industrial gases, Linde will also manufacture and operate a bulk storage system. Linde is expecting its new facilities to start operating by next year.

Linde currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the basic material space are Avient Corporation (AVNT - Free Report) , Cabot Corporation (CBT - Free Report) and Dow Inc. (DOW - Free Report) . While Avient sports a Zacks Rank #1 (Strong Buy), Cabot and Dow carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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

Cabot is expected to witness earnings growth of 138.5% in fiscal 2021.

Dow is likely to see earnings growth of 403% in 2021.

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