Air Products To Buy Five Operating Hydrogen Plants From PBF Energy For $530 Mln

(RTTNews) - Air Products And Chemicals Inc. (APD) announced Monday it has signed agreements with PBF Energy Inc. (PBF) that include the $530 million purchase of five hydrogen steam methane reformer (SMR) hydrogen production plants and the long-term supply of hydrogen from those already operating plants to PBF refineries. This will be ir Products' first major asset operating in Delaware.

The SMRs, with a combined nearly 300 million standard cubic feet per day of production capacity, are located in Torrance and Martinez, California and Delaware City, Delaware. The deal is targeted to close during the third quarter of Air Products' 2020 fiscal year.