Air Products is making significant progress with its NEOM green hydrogen megaproject in Saudi Arabia, with construction currently about 60% complete and expected to be operational by the end of 2026. CEO Seifi Ghasemi announced plans to fully load the facility's production from 2027, aiming for a daily output of 600 tonnes of hydrogen. Despite challenges in the hydrogen sector, Ghasemi remains upbeat, forecasting the clean hydrogen market to surpass $600bn by 2030 and exceed $1trn by 2050. The financing of the NEOM project has been robust, with 70% of the total capital coming from 23 banks. Air Products' investment of around $800m represents less than 10% of the project cost, showcasing the company's successful project financing capabilities. Ghasemi attributes the project's success to being a 'first mover' in the sector. Air Products is strategically focusing on green hydrogen production in Northern Saudi Arabia at NEOM and blue hydrogen in the US Gulf Coast, with plans to maximize efficiency in production locations. The company has decided to halt a $4.5bn Texas green hydrogen project due to non-alignment with low-carbon investment guidelines. In response to calls for improved performance and governance, Ghasemi highlighted NEOM's physical development as a key factor in attracting commercial interest. The company aims to establish long-term offtake agreements to de-risk large project commitments and drive sustainable growth in the hydrogen sector.