December 13, 2011 Lehigh Valley, Pa.
Air Products (NYSE: APD), a leading global industrial gases and performance materials supplier, today announced it has signed a joint research and development (R&D) agreement with the University of Science and Technology Beijing (USTB). The collaboration between Air Products and the Institute of Gas Separation Engineering of USTB will focus on the development of an advanced technology model to improve energy and capital efficiency in air separation processes.
“Achieving sustainability while managing costs is a challenge faced by industrial gases suppliers and their customers,” said Steve Jones, China President and senior vice president and general manager of Tonnage Gases, Energy and Equipment, at Air Products. “As a technology leader, Air Products is committed to making the world more productive, energy efficient and sustainable with our innovative solutions. By partnering with USTB, a world leading university renowned for its study of metallurgy and materials science, the collaboration will bring innovative and cost-effective solutions to the gas industry.”
USTB is one of the most influential universities approved by the Ministry of Education and among the first universities in China to be entitled to establish state-approved graduate schools. Its Institute of Gas Separation Engineering owns a number of patents in gas separation technologies and is one of the top research institutes that focuses on gas applications and engineering design.
“We are pleased to form a partnership with Air Products, which is one of the global industrial gas leaders and a highly innovative company. The collaboration is a win-win project for both parties as we strive to bring more new technologies to meet market demands. The project is a starting point for both sides to collaborate and we expect our partnership will be further expanded in the future,” said Prof. Liu Yingshu, director of the Institute of Gas Separation Engineering of USTB.
Air Products was the first global industrial gas company to establish an internal R&D capability in China when it set up its Asia Technology Center in 2005 and has been actively partnering with China’s leading universities, design institutes and engineers to drive development of state-of-the-art technologies for its growth and to support the Chinese government’s goal for sustainable social and economic progress under the 12th Five Year Plan. The company recently announced joint R&D efforts with various universities in China including Tianjin University, the China University of Geosciences and the Huazhong University of Science and Technology on various innovative research projects.
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. In fiscal 2011, Air Products had revenues of $10.1 billion, operations in over 40 countries, and 18,900 employees around the globe. For more information, visit www.airproducts.com.
About the Institute of Gas Separation Engineering of University of Science and Technology Beijing
Established in 1999, the Institute of Gas Separation Engineering of USTB focuses on the research and development of air separation application technologies such as pressure swing adsorption and membrane separation. With sophisticated labs that enable application fundamental research and pilot experiment, the institute has supported many State key research and development projects. It owns a number of patents in gas separation technologies and has won 18 national or provincial prizes for Progress in Science and Technology. It is one of the top research institutes that focus on gas applications and engineering design.
NOTE: This release may contain 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 reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2011.