Air Products & Chemicals Inc. said Tuesday it paid an undisclosed amount for a new hydrogen facility expected to be operational in March of next year.
Air Products bought the steam methane reformer hydrogen facility under construction in Corpus Christi, Texas, from MarkWest Energy Partners LP.
The facility will produce over 30 million standard cubic feet per day of hydrogen, said Air Products, which Air Products will deliver to MarkWest. MarkWest, in turn, will deliver hydrogen to local refineries.
Air Products fell Tuesday $1.03 to close at $74.