Praxair, Inc. (NYSE:PX) announced today it is expanding its business and building a steam methane reformer to increase the supply of hydrogen for its liquid hydrogen plant in Niagara Falls, New York. This investment will serve growing customer needs for hydrogen in the Northeast and Midwest regions of the United States and southeastern Canada. Empire State Development, the state’s economic development agency, will provide a $1 million capital grant to assist the company with its facility and equipment investment.
“Praxair is making this investment in response to growing customer requirements and the development of new applications,” said Jeff Barnhard, vice president of Praxair’s industrial gases business in the U.S. East Region. “Additionally, this investment further diversifies our sources of hydrogen and results in distribution savings.”
Niagara Falls benefits from relatively low-cost and sustainable electric energy produced by local hydroelectric turbines. When complete in 2015, Praxair’s Niagara Falls liquid hydrogen production capacity will increase 50 percent. Liquid hydrogen is delivered by customized trucks to customers in a wide range of industries, including the manufacturing of metals, lubricants, glass, liquid fuels, solar technology, chemicals and food products.
About PraxairPraxair, Inc., a Fortune 250 company with 2013 sales of $12 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and many others. More information about Praxair, Inc. is available at www.praxair.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV