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Hydrogen Power

Air Products drops coal-to-methanol project

by Alex Scott
April 1, 2023 | A version of this story appeared in Volume 101, Issue 11
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Air Products and Chemicals has exited a $2 billion coal-to-methanol project in Bengalon, Indonesia. The company says it will redirect the money to more lucrative hydrogen projects. The firm had agreed to invest in the Indonesian facility in May 2020. The financial landscape for clean hydrogen projects has “significantly changed in the last year, driving increasing opportunities for Air Products to invest in these energy transition projects around the world,” the company says.

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