Integrated Annual Report 2024

Contents

STOCKHOLM EXERGI ADOPTS CRYOCAPTM LQ CO₂ LIQUEFACTION TECHNOLOGY

The energy supplier to the Swedish capital has selected Air Liquide to be part of its Bio-Energy Carbon Capture & Storage (BECCS) project. The CryocapTM LQ CO2 liquefaction unit supplied by the Group will be one of the world’s largest, with a capacity of 3,500 tonnes per day. The liquefied CO2 will be transported for permanent storage in carbon sinks. The project is being supported by the European Innovation Fund.

8 Mt

of CO2 will be liquefied and stored during the first ten years of operation.

ELECTRIFICATION OF TWO OXYGEN PRODUCTION UNITS IN CHINA

Air Liquide has invested €60 million to modernize two air separation units in Tianjin, China. The investment will allow the units to run on electrical power, including low-carbon energy, instead of coal-powered steam, which will drive down CO2 emissions linked to the production of oxygen and other gases.

Read more about this project on p.28

MAJOR INVESTMENTS TO SUPPORT EUROPEAN DECARBONIZATION IN PARTNERSHIP WITH TOTALENERGIES

In early 2025, Air Liquide announced two large- scale electrolyzer projects to produce renewable and low-carbon hydrogen in Europe. The first project, ELYgator, is a 200 MW electrolyzer located in Maasvlakte (Rotterdam). It will meet the needs of TotalEnergies' industrial platform, while also serving other customers in Europe’s industrial and heavy mobility sectors. In addition, the two partners plan to set up a joint venture to develop a 250 MW electrolyzer to supply the TotalEnergies refinery in the Dutch province of Zeeland. Once completed, these two projects will represent a combined investment of more than €1 billion and will help to avoid up to 500,000 tonnes of CO2 - equivalent emissions per year, strengthening the Group’s position as a technological leader for low-carbon hydrogen in Europe.

€ 1bn

will be invested in these projects, which will make it possible to avoid up to 500,000 tonnes of CO2-equivalent emissions per year.