L'Air Liquide, Dow Renew Agreement To Reduce CO2 Emissions

(RTTNews) - French specialty chemicals company L'Air Liquide S.A. (AIQUY) Thursday announced that along with chemical major Dow Inc. (DOW), it has renewed its industrial gas supply agreement to reduce CO2 emissions and enable operational efficiency.

Under the long-term agreement, Air Liquide will supply industrial gases and invest nearly 40 million euros in the modernization of its existing production assets - two Air Separation Units and a Partial Oxidation plant, to which it will add a new CO2 recycling solution.

As per the company, this enables a circular use of the CO2 produced, leading to approximately 15 percent increase in energy efficiency and reducing the emissions by around 15,000 tons/year.

The modernization of the assets is expected to be completed in 2024. Air Liquide for more than 20 years has been supplying industrial gases to Dow in Stade, Germany.

Currently, Air Liquide shares are trading at EUR 170.36 down 0.09% in Paris and Dow closed at $54.09, up 0.09% on the New York Stock exchange on Wednesday.