Exxon Mobil Partners with Air Liquide to Produce Low-Carbon Hydrogen and Ammonia in Texas
Key Ideas
- Exxon Mobil Corporation has signed a partnership with Air Liquide to develop a low-carbon hydrogen market in Baytown, Texas, aiming to help industrial customers reduce their carbon footprint.
- The collaboration involves the construction of four Large Modular Air separation units to produce low-carbon hydrogen and ammonia while focusing on minimizing the project's carbon footprint.
- Upon completion, the Baytown facility is set to be the world's largest hydrogen production site, generating significant amounts of low-carbon hydrogen daily while capturing over 98% of associated CO2 emissions.
- Investors looking to participate in ExxonMobil's initiatives can consider options like the Energy Select Sector SPDR Fund and iShares U.S. Energy ETF for exposure to XOM shares.
Exxon Mobil Corporation has entered into a partnership with Air Liquide to produce low-carbon hydrogen and ammonia at its Baytown facility in Texas. This collaboration is part of ExxonMobil's efforts to drive the development of a low-carbon hydrogen market along the U.S. Gulf Coast, with the goal of aiding industrial customers in reducing their carbon footprint. The deal includes the transportation of low-carbon hydrogen through Air Liquide's pipeline network and the construction of four Large Modular Air separation units to supply oxygen and nitrogen using low-carbon electricity. The final investment decision depends on favorable government policies and regulatory permits. Once operational, the Baytown site is poised to become the world's largest hydrogen production facility, producing vast amounts of low-carbon hydrogen and ammonia while significantly reducing CO2 emissions. Investors interested in participating in ExxonMobil's sustainable initiatives can explore investment options like the Energy Select Sector SPDR Fund and iShares U.S. Energy ETF for exposure to XOM shares.
Topics
Production
Environmental Impact
Government Policies
Energy Sector
Carbon Footprint Reduction
Investment Opportunity
Industrial Collaboration
Pipeline Network
Regulatory Permits
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