Air Products and Chemicals completed the acquisition of five hydrogen plants from PBF Energy for $530m.

Air Products and Chemicals, an American international chemical industry company, completed the acquisition of five hydrogen plants from PBF Energy, an independent refiner in North America, for $530m. “Air Products has a very strong balance sheet. This puts us in an outstanding financial position to execute our strategy of investing in long-term onsite deals, which includes asset acquisitions like the one we are announcing today. With this acquisition, not only do we gain five SMR plants, but we also secure a long-term hydrogen sale of gas agreement with an existing customer who is one of the largest independent refiners in North America,” Seifi Ghasemi, Air Products Chairman, President and CEO.