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| Kingdom of Saudi Arabia

Air Products Qudra and Royal Commission for Jubail and Yanbu Sign Memorandum of Understanding To Build First Hydrogen Fuel Station in Jubail Industrial City, at the Saudi Green Initiative Forum

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Jo Hills | +44 1932 249473

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Air Products Qudra and the Royal Commission for Jubail and Yanbu signed a Memorandum of Understanding (MoU) during the Saudi Green Initiative, which took place in tandem with the United Nations Conference of Parties on Climate Change (COP 27) earlier this month in Sharm El-Sheikh, Egypt.   

The MoU establishes an engagement for further collaboration towards Air Products Qudra building a hydrogen fueling station in Jubail Industrial City to fuel heavy-duty transportation, such as buses and trucks, with a focus on zero emissions. The first hydrogen fueling station in Jubail will have a positive environmental impact and support the Saudi Green Initiative and Vision 2030. 

Dr. Ahmed AlHussain, CEO of Royal Commission for Jubail and Yanbu said, "I am very happy to welcome Air Products Qudra to Jubail in this important first step towards comprehensive hydrogen transport. Jubail's school buses, company-owned car fleets and heavy–duty vehicles can and will quickly convert to hydrogen use. Jubail has plans to produce strategic quantities of blue hydrogen for transport and for industry use. I’m sure Jubail, with the support of Air Products Qudra, can set an example for the world."  
 
Air Products Qudra's CEO, Ebubekir Koyuncu added: "For the energy transition, hydrogen will play a key role in a cleaner and more sustainable future. The vision of the Royal Commission for Jubail and Yanbu is to be pioneers in clean mobility through hydrogen. With that, we are honored to collaborate towards building the first hydrogen fueling station in Jubail Industrial City.”  

Saudi Arabia is committed to advancing the global fight against climate change, with a targeted roadmap for the delivery of the Saudi Green Initiative targets. Air Products Qudra is honored to be a partner in the Saudi Green Initiative, leading the energy transition to accelerate Vision 2030 for the Kingdom and the Middle East region. 

About Air Products 
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products’ base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of about $60 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

About Air Products Qudra
Air Products Qudra is the regional development and investment joint venture (JV) for Middle East between Air Products and Qudra Energy, a subsidiary of Vision Invest. Air Products is a world-leading industrial gases company developing, engineering, building, owning and operating many of the world's largest industrial gas projects; Vision Invest is a leading development and investment Holding Company in the Kingdom of Saudi Arabia, with a diversified portfolio of investments across several sectors such as Utility, Infrastructure, Logistics and Industrial Gases with a global operational investment footprint.

Formed following several years of partnership between its parent companies, Air Products Qudra's mission is to bring world-class technology, on-site solutions, and leading project execution and operational leadership for large-scale energy and environmental projects throughout the Middle East region. For more information visit www.airproductsqudra.com.

Cautionary Note Regarding Forward-Looking Statements: This release contains “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 expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs, or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.