Air Products Qudra Signs Agreement to Supply Hydrogen for Mobility to Saudi Ground Services

To showcase safety, reliability, and efficiency of hydrogen as a fuel

DAMMAM, Kingdom of Saudi Arabia, Dec. 12, 2022 /PRNewswire/ -- Air Products Qudra today announced it has signed an agreement with Saudi Ground Services (SGS) to demonstrate Hydrogen for Mobility at Dammam Airport, Saudi Arabia. Saudi Ground Services provide a wide range of ground handling services throughout the entire network of airlines in Saudi Arabia, from passenger services and baggage handling to fleet solutions and cargo services.  

Air Products Qudra will work to increase the accessibility of clean hydrogen including the building of hydrogen infrastructure to support Saudi Arabia's energy and climate ambitions, including within the hydrogen for mobility space.

"Saudi Ground Services and Air Products Qudra are converging on the first application in the ground handling aviation sector in the kingdom. This is built on the foundations laid down for us by the Saudi Green Initiative, one of the most important cornerstones of the Saudi Arabian Vision 2030, as sponsored by his Royal Highness the Minister of Energy," said Raed Al-Idrissi, CEO of Saudi Ground Services. He continues: "This is only a step in a collection of initiatives aiming to further drive clean technologies to be the 'Face of Saudi Arabia', the face of intelligence, sustainability, and hydrogen mobility."

Ebubekir Koyuncu, Air Products Qudra's Chief Executive Officer added: "We are committed to our strong partnership with Saudi Green Initiative and committed to achieve the environmental goals. Our support is further reflected in our business with SGS, as we continue to lead the way with environmental, sustainable and efficient projects throughout Saudi Arabia and the broader Middle East region."   

Air Products Qudra's mission is to generate a cleaner future for the world, and that involves experience, technology, and innovation on a world scale. The venture's hydrogen for mobility technology reduces environmental impacts and covers the entire value chain for hydrogen fueling.

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of about $70 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

Air Products Qudra is the regional development and investment joint venture (JV) for Middle East between Air Products and Qudra Energy, a subsidiary of Vision Invest. Air Products is a world-leading industrial gases company developing, engineering, building, owning and operating many of the world's largest industrial gas projects; Vision Invest is a leading development and investment Holding Company in the Kingdom of Saudi Arabia, with a diversified portfolio of investments across several sectors such as Utility, Infrastructure, Logistics and Industrial Gases with a global operational investment footprint.

Formed following several years of partnership between its parent companies, Air Products Qudra's mission is to bring world-class technology, on-site solutions, and leading project execution and operational leadership for large-scale energy and environmental projects throughout the Middle East region. For more information visit www.airproductsqudra.com

Cautionary Note Regarding Forward-Looking Statements: This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs, or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.