Luxfer Gas Cylinders Awarded Grant From Alberta Innovates For Innovative 700 Bar Type 4 Hydrogen Cylinder Development
Portfolio Pulse from Benzinga Newsdesk
Luxfer Holdings PLC (NYSE:LXFR) has received a clean technology grant from Alberta Innovates Hydrogen Centre of Excellence for the development of a new Type 4 700 bar hydrogen cylinder. This development aims to innovate in hydrogen storage with a polymer-lined high-pressure cylinder, enhancing manufacturing efficiency and storage capacity. The project, based in Calgary, Alberta, targets growth markets like fuel cell transit buses and heavy-duty trucks, emphasizing Luxfer's commitment to environmental sustainability and hydrogen storage solutions.

May 06, 2024 | 8:43 pm
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Luxfer Holdings PLC has been awarded a grant to develop a cutting-edge Type 4 hydrogen cylinder, indicating a strategic move into high-demand hydrogen storage markets and a commitment to sustainability.
The grant from Alberta Innovates to Luxfer for developing a new hydrogen storage solution highlights the company's innovation in clean technology. This development is likely to enhance Luxfer's market position in the growing hydrogen fuel sector, potentially leading to increased investor interest and a positive impact on stock price in the short term. The focus on sustainability and high-demand markets like fuel cell vehicles and heavy-duty trucks further strengthens the potential positive reception from both the market and environmentally conscious investors.
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