Investing in the energy transition, investing in the future

The Group’s consistent financial performance provides the resources it needs to finance large-scale projects and realize its long-term vision. This vision includes the transition to low-carbon industry, both in terms of its own activities and in terms of support for its industrial customers. 

Industry, particularly heavy industry, is a major emitter of carbon dioxide, accounting for around 20% of global CO₂ emissions. To achieve carbon neutrality, there must therefore be a drastic and rapid reduction of these emissions. To contribute to this vital decarbonization, Air Liquide allocates nearly half of its investment decisions to key projects that will contribute to the fight against global warming. And because it strongly believes in the power of collaboration, Air Liquide is establishing various partnerships in a wide range of sectors, particularly those with the highest emissions and that are hardest to abate. Working alongside its customers, the Group is investing significant resources to accelerate the transition to a low-carbon industry.

As part of its ADVANCE strategic plan, Air Liquide is committed to supporting its industrial customers in decarbonizing their activities through a portfolio of technological solutions. 2023 saw a significant increase in this dynamic with strategic investments and key partnerships. For instance, the Group signed an agreement to decarbonize the Belgian plant of the Swiss company Holcim, one of the world’s leading cement manufacturers, using its proprietary technology, Cryocap^TM. Developed by Air Liquide, the Cryocap^TM process captures CO₂ by liquefying it through cryogenics. This technology will enable the cement plant to reduce its CO₂ emissions by 1.1 million tonnes every year.

Using the same technology, Air Liquide will help transform one of EQIOM’s cement plants in France into Europe’s first carbon-neutral cement plant by 2028. The project, known as K6, has received funding of 150 million euros from the European Innovation Fund and aims to capture nearly 8 million tonnes of CO₂ during the first 10 years of operation.

This Cryocap^TM technology was used for the first time in 2015 in Port-Jérôme in Normandy, on the Group’s largest hydrogen production site in France.

When it comes to large-scale decarbonized hydrogen, Air Liquide has already demonstrated its industrial capabilities in operating electrolyzers for the last 3 years in Bécancour, Canada. With a capacity of 20 megawatts to produce 8 tonnes of hydrogen every day, this is enough to power 2,000 cars, 16,000 forklift trucks, 275 buses or 230 large trucks!

This electrolyzer is at the heart of a new low-carbon gas production platform that is being developed by Air Liquide in Quebec to produce renewable hydrogen, oxygen, nitrogen and argon. In addition to the existing electrolyzer, the investment project of more than 140 million euros will include a new renewable oxygen and nitrogen production unit and significant liquid storage capacity, connected by a pipeline network to better serve local customers. This new infrastructure is part of a wider process to decarbonize Bécancour’s industrial zone and port, making it a unique place to produce renewable industrial gases and thereby develop offerings with high added value for our customers who are committed to the energy transition.

In addition to these investments in projects for carbon capture and hydrogen production through electrolysis, the Group is pursuing several other strategies to accelerate the energy transition. For instance, it is working with KBR, the world leader in ammonia technology, to provide solutions to produce low-carbon ammonia by using the autothermal reforming (ATR) process developed by Air Liquide. This technology, in which the Group is a world leader, is one of the most promising solutions for the large-scale production of low-carbon hydrogen; it is then combined with nitrogen to produce low-carbon ammonia. The solutions provided in collaboration with KBR will also contribute to the development of a global low-carbon hydrogen market because hydrogen, when transformed into ammonia, can easily be transported over long distances.

Lastly, the Group is supporting sustainable mobility by contributing to the development of hydrogen ecosystems with major players including TotalEnergies, Lotte, Eneos and Trillium Energy Solutions. The aim is to accelerate the adoption of hydrogen, particularly for heavy mobility.

All these strategic investments underline Air Liquide’s proactive approach to the creation of a low-carbon society.