Air Products and Chemicals, Inc. (APD - Free Report) has been selected by Shell Oil Products U.S.’ subsidiary, Equilon Enterprises LLC, to upgrade Shell’s hydrogen refueling station at Torrance, CA. A new hydrogen compression, purification, cooling and dispenser technology is to be installed at the station, which will help convert it from a non-retail station to a state-of-the-art retail station with a capacity of 200 kilograms per day.
The upgrade will also improve the station’s vehicle filling performance as well as consumer interaction. This station was opened in May, 2011, as the world’s first pipeline-supplied hydrogen station, built to provide hydrogen for many automakers’ fuel cell vehicles in the area.
The upgrade by Air Products will permit retail fuelings at the station, complying with California Division of Measurement and Standards in terms of accuracy. Moreover, customers will be able to pay for the hydrogen at the station. The upgrade will also allow 350-bar (5,000 psi) and 700-bar (10,000 psi) vehicle fuelings, simultaneous fueling of two cars and each dispenser to fill three vehicles one after the other. This upgrade shows the importance of hydrogen as a clean and sustainable fuel for transportation.
The fueling station receives hydrogen from Air Products’ pipeline located close to the station, connected to the company’s hydrogen production facilities in the state. The usage of Air Products’ fueling technology is increasing, with over 1,000,000 hydrogen fills already being conducted annually. The company is associated with more than 200 hydrogen supplying projects globally.
Air Products’ shares closed roughly 0.1% higher at $138.14 on Nov 15.
Air Products’ adjusted earnings for fourth-quarter fiscal 2016 beat the Zacks Consensus Estimate, whereas sales missed the same. While adjusted earnings for fiscal 2016 rose year over year, revenues declined as a rise in volumes was more than offset by currency headwinds and lower energy pass-through in the year.
Air Products currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked companies in the basic materials space include Koppers Holdings Inc. (KOP - Free Report) , The Chemours Company (CC - Free Report) and Celanese Corporation (CE - Free Report) .
Koppers Holdings has an expected long-term growth of 10% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours, with an expected long-term growth of 15.5%, also flaunts a Zacks Rank #1.
Celanese, a Zacks Rank #2 (Buy) stock, has an expected long-term growth of 8.8%.
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