Integrated Annual Report 2025

When tech makes an impact

AIR LIQUIDE STRENGTHENS ITS PRESENCE IN INDIA WITH THE ACQUISITION OF NovaAir

In December 2025, Air Liquide finalized the acquisition of NovaAir, a leading producer and distributor of industrial gases in India. The transaction strengthens the Group's presence in the country and enhances its ability to serve customers in the automotive, metals, semiconductors and healthcare industries. Read more p.39

A WORLD FIRST IN LOW-CARBON HYDROGEN PRODUCTION THROUGH AMMONIA CRACKING

At the port of Antwerp-Bruges in Belgium, Air Liquide has commissioned the world's first industrial-scale pilot unit producing hydrogen through Ammonia cracking. This molecule represents a key link in the long-distance transport and supply of low-carbon hydrogen Read more p.25

30 tonsper day of ammonia-to-hydrogen conversion capacity

INVESTMENT IN A NEW ULTRA-HIGH-PURITY GAS COMPLEX FOR THE SEMICONDUCTOR INDUSTRY

In Dresden, Germany, in the heart of "Silicon Saxony," new ultra-pure gas production units will support the development of a major customer in the semiconductor industry, thereby contributing to the sector's growth in Europe. Air Liquide will build and operate three Air Separation Units, two hydrogen units, and the associated infrastructure to ensure continuous, stable, and reliable supply—all while meeting the industry's particularly demanding performance and quality standards. Read more p.38

250Mof investment

A NEW MOLYBDENUM PLANT TO PRODUCE THE CHIPSOF THE FUTURE

Air Liquide announced the start-up of a plant that produces advanced materials from molybdenum in Hwaseong, South Korea. Dedicated to the semiconductor industry, this new plant—the largest of its kind in the world—will supply Subleem™, an advanced materials offering developed with chip manufacturers, comprising ultra-high-purity molecules and proprietary delivery systems. Read more p.43

A 200 MILLION US DOLLARS INVESTMENT IN LOUISIANA TO SUPPORT GROWTH IN MAJOR INDUSTRIAL HUB

Air Liquide plans to invest up to 200 million U.S. dollars in Louisiana to modernize an Air Separation Unit, connect it to its existing pipeline network, and extend the network by approximately 50 kilometers along the southeastern coast of the USA. The project accompanies the renewal of a long-term contract with Dow, a global chemicals company serving a wide range of industries. Read more p.49

HOME HEALTHCARE: FOUR ACQUISITIONS

With the acquisition of four specialized providers in Saxony and the Berlin regions, Air Liquide is expanding its presence in outpatient intensive care in a country where the Group is one of the leading players in the sector. Read more p.36

More than220,000patients supportedin Germany