Air Products to exit three U.S. projects, expects pre-tax charge up to $3.1B

Air Products & Chemicals, Inc.

Pre-tax charge not to exceed $3.1B in fiscal Q2 2025 for exiting World Energy SAF expansion, Massena green H2, and Texas CO projects.
World Energy SAF expansion terminated due to challenging commercial aspects at the Paramount, CA site.
Massena green H2 project cancelled because hydroelectric power ruled ineligible for 45V tax credit and slow hydrogen mobility market.
Texas CO project terminated due to unfavorable project economics; cash expenditures estimated not to exceed $800M.
NEOM green H2 project ~80% complete with green ammonia expected end 2026; Louisiana Clean Energy Complex startup in 2028.

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