Air Products completes acquisition of GE’s gasification business and technology; now possesses two gasification technologies
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Air Products completes acquisition of GE’s gasification business and technology; owns two major gasification technologies. Author/Source: Yaha Coal Chemicals. Date: 2019-08-09. Clicks: 25. On August 5, Air Products announced that it had completed the acquisition of GE’s gasification business, which is part of GE’s power generation division. The financial terms of the transaction are not disclosed to the public. Greg Gosselin, President and CEO of Air Products, said, “The successful acquisition of General Electric’s gasification technology will further support our focus on long-term and strategic development in the gasification sector.” This acquisition, combined with our other expertise, enables us to provide customers with comprehensive solutions, including financing, technology, engineering design, construction, and operation for large-scale syngas projects. We warmly welcome the joining of the experienced and talented GE Gasification team, and look forward to supporting them in further developing this business. ” The gasification business acquired by Air Products includes General Electric’s stake in its 50-50 joint venture with China Shenhua Coal-to-Oil Chemical Co., Ltd. China Shenhua Coal-to-Oil Chemical Co., Ltd. is a subsidiary of the world-class energy company **Energy Group. The joint venture was established in 2012 to provide technology for gasification projects in China. The acquisition involves approximately 50 employees, including those from the joint venture. Under Air Products’ gas sales business model, the company invests in, builds, owns, operates, and maintains gas production facilities, allowing customers to focus their capital and efforts on their core businesses. The company’s larger-scale gasification projects, involving investments in the order of several billion dollars, include those of Lu’an, Jutai, and Yankuang Group in China, as well as the Jizan project in Saudi Arabia. On November 5, 2018, Air Products announced that it had signed an agreement to acquire GE’s gasification business. This transaction will enable Air Products to expand its syngas solutions portfolio and establish, own, and operate gasification projects worldwide. Acquiring GE’s gasification technology and business will complement other gasification technology acquisitions and alliances we have completed recently. Together, they will provide Air Products Company with a wide range of products, services, and solutions, including chemicals, fuels, power, or refined syngas. These transactions will enable us to further expand our on-site industrial gas production model, including syngas supply, and create cross-selling opportunities for other technologies and products.
GE’s gasification technology is nothing other than the “Texaco water-coal slurry gasification technology”. The capital market works in this way: mergers and acquisitions keep happening, with companies coming together and separating again; there’s nothing really special about it.
……I see, thanks to the original poster for sharing
"What are the two major gasification technologies? Besides GE’s coal slurry gasification technology, what is the other gasification technology?
Yes, they also acquired Shell’s gasification technology. In the world, things that are united for a long time will eventually separate, and those that are separated for a long time will eventually unite – this principle applies equally to the technology industry as well: lol
In addition to mergers and acquisitions, another trend in the industry can be observed: industrial gas companies are expanding from the traditional industrial gas sector into the field of raw material gases. The acquisition of Air Product is an example ； In China, Baosteel Gas and Yingde Gas have also been acquired by investors, who have simultaneously entered the field of syngas production.