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Air Products Signs Virtual Power Purchase Agreement for Wind Electricity in Poland

Initiative Supports Poland’s Renewable Energy Directives

Air Products (NYSE: APD), a world-leading industrial gases company, has signed a long-term, virtual power purchase agreement (VPPA) in Poland with Scieki onshore wind farm, owned by Macquarie’s Green Investment Group (GIG).  

By 2030, Poland is aiming for renewables to make up 23% of its power generation, with wind energy making a significant contribution.  Air Products’ drive to increase renewable electricity sourcing through a VPPA with one of the world’s largest teams of green infrastructure developers and investors, complements the country’s transformative Energy Policy.  

Demonstrating Air Products’ ongoing commitment to sustainable business management, the agreement equates to an emissions reduction equitable to removing 8,500 cars from Poland’s roads.  It also supports the company’s “Third by ‘30’ goal” to reduce its CO₂ emissions intensity (kg CO₂/MM BTU) by one-third by the year 2030 from a 2015 baseline. 

Underpinned by its business and sustainability strategy, Air Products invests in many other projects across Poland that provide customers with cleaner energy solutions, such as: 

“Delivering cleaner energy solutions is an important part of Air Products’ past, present and future, not just for us as a company, but also for our customers, partners and the communities where we operate,” said Jacek Cichosz, Air Products’ general manager – Industrial Gases, Poland.  “There is a real commitment in Poland and within the European Union, to address climate challenges with urgency and positive action. Air Products has that same desire towards an effective path in the broader energy transition.” 

Edward Northam, Head of GIG Europe – one of the world’s largest teams of green infrastructure developers and investors - said “Air Products is playing a leading role in the energy transition. As such, we are delighted to structure this PPA and play a role in accelerating Air Products’ own renewable energy and sustainability journey in Poland.”

The Air Products VPPA in Poland was advised by Schneider Electric, which acted as a full-service buyer’s advisor and assisted Air Products in project selection and negotiations.

"Air Products is demonstrating its commitment to sustainability by signing a VPPA in Poland," said Philippe Diez, Vice President of Energy & Sustainability Services EMEA at Schneider Electric. “We want to congratulate Air Products on this sustainability milestone and for helping to accelerate the European renewable energy transition.”

Photo provided with permission from Macquarie's Green Investment Group (GIG).

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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, 2020.