2023-03-23 16:24:04 ET
Air Products & Chemicals ( NYSE: APD ) said Thursday it has withdrawn from the coal-to-methanol Bengalon project in Indonesia, saying it wants to focus on other energy transition projects.
"The financial landscape for blue and green hydrogen projects has significantly changed in the last year, driving increasing opportunities for Air Products to invest in these energy transition projects around the world. As a result, the company has decided to redeploy its financial resources on such energy transition opportunities," the company said
Air Products ( APD ) shares ended -3% in Thursday's trading, its lowest close since November 3.
It's "time to buy" Air Products ( APD ) after announcing an exclusive agreement to operate the largest U.S. green hydrogen facility in Texas, Mare Evidence Lab writes in an analysis published recently on Seeking Alpha .
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Air Products confirms exit from Indonesia coal gasification projects