Exxon Mobil, Air Liquide Team Up For Clean Hydrogen Project: Details
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corporation (NYSE:XOM) has partnered with Air Liquide (OTC:AIQUF) to produce low-carbon hydrogen and ammonia at its Baytown, Texas facility. The project aims to develop a low-carbon hydrogen market along the U.S. Gulf Coast, with Air Liquide constructing and operating four Large Modular Air separation units. The final investment decision depends on favorable government policies and regulatory permits. XOM shares are up 2.94% at $114.02.
June 24, 2024 | 5:02 pm
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POSITIVE IMPACT
Investors can gain exposure to Exxon Mobil's clean hydrogen project through the iShares U.S. Energy ETF (IYE).
IYE includes Exxon Mobil, and the positive developments in XOM's clean hydrogen project could benefit the ETF. The project aligns with the growing interest in clean energy investments.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Exxon Mobil's clean hydrogen project through the Energy Select Sector SPDR Fund (XLE).
XLE includes Exxon Mobil, and the positive developments in XOM's clean hydrogen project could benefit the ETF. The project aligns with the growing interest in clean energy investments.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Exxon Mobil has partnered with Air Liquide to produce low-carbon hydrogen and ammonia at its Baytown, Texas facility. The project aims to develop a low-carbon hydrogen market along the U.S. Gulf Coast. XOM shares are up 2.94%.
The partnership with Air Liquide and the focus on low-carbon hydrogen and ammonia production is a significant step for Exxon Mobil in the clean energy sector. The positive market reaction, with shares up 2.94%, indicates investor confidence in the project's potential.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100