In a deal worth $530m, industrial gas giant Air Products today said it had completed the acquisition of five steam methane reformer (SMR) hydrogen production plants from refiner PBF Energy.
Located in Torrance and Martinez, California, and Delaware City, Delaware, the newly acquired SMRs have a combined production capacity of almost 300 million standard cubic feet per day.
“We have now started supplying hydrogen to PBF from the five SMRs that we have purchased from them,” said Seifi Ghasemi, Chairman, President and CEO of Air Products.
“This deal is an excellent example and demonstrates our ability to execute our strategy of investing in long-term onsite deals, which includes asset acquisitions like we have successfully closed.”
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