February 25, 2019 London, UK
Air Products (NYSE: APD), a world-leading industrial gas company, has announced a partnership with Ørsted, a global leader in offshore wind power. Ørsted supplies renewable electricity to all the Air Products United Kingdom (UK) production sites which supply merchant customers with industrial gases. The arrangement demonstrates Air Products’ sustainability commitment to responsible supply chain energy sourcing whenever possible, for its industrial gas production activities.
Ørsted supplies renewable electricity from 11 offshore wind farms in the UK, providing Renewable Energy Guarantees of Origin (REGOs) to support business electricity contracts. Ørsted supplies renewable electricity at no additional premium, so that UK businesses can achieve their sustainability ambitions without commercial disadvantage.
This renewable energy commitment fits well with Air Products Europe’s membership in RECS International, an association of market players trading in renewable energy certificates. RECS International, with almost 150 member companies, helps to ensure that Air Products’ interests concerning the use of electricity attribution tracking certificates, such as REGOs, are well protected.
The relationship with Ørsted enables Air Products to improve the sustainability credentials of its UK locations producing industrial gases for merchant supply. In turn, this also provides a direct benefit to customers by improving their supply chain sustainability and helping them to meet their own environmental goals. The arrangement with Ørsted allows Air Products’ to provide customers with REGOs, demonstrating that the energy comes from renewable sources. This is important as the UK continues to progress toward using varied and sustainable energy generation like wind and solar.
Simon Earnshaw, Air Products’ Director of Industrial Gases Production & Supply Chain, Europe and Africa, said: “This is a positive step forward for our business. Being able to access and buy renewable electricity supplies direct from a certified provider is significant progress towards improving our merchant operations sustainability. We’re pleased to be working with Ørsted, a company which shares our values and is passionate about enabling a sustainable future.”
Ashley Phillips, Managing Director at Ørsted Sales (UK), said: “Ørsted is driving the transition to low-carbon energy systems in the UK, and we believe that businesses should have access to renewable electricity supply without incurring additional cost. Naturally, we are delighted that Air Products shares our ambition of creating this greener energy future. It’s exciting that one of the world’s largest industrial gas producers places such a strong emphasis on sustainability.”
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 75 years. The Company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 16,000 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 address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com.
The Ørsted vision is a world that runs entirely on green energy. We develop, construct and operate offshore wind farms, bioenergy plants and innovative waste-to-energy solutions. We provide UK businesses with renewable electricity at no extra cost, and with innovative, smart energy solutions. For more information, visit https://orstedbusiness.co.uk/en.
Headquartered in Denmark, Ørsted employs 5,600 people, including over 900 in the UK. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2017, the group's revenue was DKK 59.5 billion (EUR 8.0 billion). For more information on Ørsted’s solutions for businesses, visit orstedbusiness.co.uk or follow us on Facebook, LinkedIn, Instagram and Twitter.
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, 2018.
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