Air Products

Air Products and Chemicals, Inc. is a world-leading industrial gases company that has been in operation for over 80 years, providing essential industrial gases, related equipment, and applications expertise to customers in dozens of industries. Headquartered in Trexlertown, Pennsylvania, in the Lehigh Valley region of eastern Pennsylvania, Air Products operates in 50 countries with approximately 19,000 employees and is the largest supplier of hydrogen and helium in the world.

Founded in Detroit in 1940 by Leonard Parker Pool, Air Products began with a revolutionary vision: establishing on-site production and sales of various forms of industrial gas. The founding story is remarkable—Pool quit his job, sold his insurance policy, borrowed all the money his wife (a schoolteacher) had saved, and with this capital, founded Air Products Inc. in a former mortuary. The company's breakthrough came in 1941 when the U.S. entered World War II and Air Products began manufacturing mobile generators for oxygen production used in high-altitude military flights.

In February 2025, Air Products underwent significant leadership changes. Eduardo F. Menezes was appointed CEO effective February 7, 2025, succeeding Seifollah (Seifi) Ghasemi who left after more than 10 years of dedicated service. Menezes, age 61, brings over three decades of experience from senior roles at Linde plc and Praxair, Inc., where he served as Executive Vice President of Linde following its acquisition of Praxair in 2018 until 2021, with responsibility for operations in over 40 countries representing over $8 billion in sales and 18,000 employees.

Air Products' regional industrial gases segments produce and sell atmospheric gases (oxygen, nitrogen, argon), process gases (hydrogen, helium, carbon dioxide, carbon monoxide, syngas), and specialty gases for applications ranging from manufacturing and refining to electronics and healthcare. The company generated approximately $12 billion in revenue in fiscal 2025 and reported remarkable financial performance in fiscal 2024 with GAAP EPS of $17.24 (up 67% from prior year) and net income of $3.84 billion (up 68% from FY2023), partly due to a $1.2 billion after-tax gain from the sale of the company's LNG business.

Air Products is at the forefront of the clean energy transition, developing some of the world's largest clean hydrogen projects. The company's NEOM Green Hydrogen Project in Saudi Arabia—a joint venture with ACWA Power and NEOM—is approaching 80% completion and will supply 600 tonnes per day of carbon-free hydrogen when operational in 2027. The 4 GW facility powered by solar and wind will be the world's largest green hydrogen production facility. With fiscal 2025 capital expenditures guidance of $4.5-$5.0 billion and a strong focus on decarbonization solutions, Air Products is positioning itself as a leader in the hydrogen economy and the global energy transition.