TTE - Why Air Products And Chemicals Shares Are Gaining Today | Benzinga
Air Products and Chemicals, Inc. (NYSE:APD) shares are trading higher after it inked a 15-year agreement with TotalEnergies SE (NYSE:TTE) to supply 70,000 tons of green hydrogen annually in Europe, starting in 2030.
Under the agreement, Air Products will supply green hydrogen to TotalEnergies’ Northern European refineries, reducing CO2 emissions by 700,000 tons annually.
This first long-term deal follows TotalEnergies’ call for tenders to supply 500,000 tons of green hydrogen per year to decarbonize its European refineries.
This contract supports TotalEnergies’ goal of reducing net greenhouse gas emissions from its operations (Scope 1+2) by 40% by 2030 compared to 2015 levels.
Also, Air Products has committed over $15 billion ...