Bay Street News

Baker Hughes Achieves New Hydrogen Milestones to Accelerate Transition to Hydrogen Economy

FLORENCE, Italy, Jan. 29, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday several milestones to support the growth of the hydrogen economy, as part of the company’s broader strategy in new energy. The milestones were announced during the 24th Baker Hughes Annual Meeting held in Florence, Italy, and included advancements in the company’s hydrogen enabling technologies, as well as progress in executing several customers’ hydrogen projects and new collaborations in the sector.

The milestones include:

“Baker Hughes’ advanced technology and experience are key elements of our collaboration as Air Products continues to execute some of the largest low- and zero-carbon clean hydrogen megaprojects in the world,” said Dr. Samir J. Serhan, chief operation officer, Air Products. “We are delivering tangible progress with a common goal – to drive the energy transition forward and achieve net-zero targets.”

“These low-carbon and carbon-free energy advancements illustrate how the urgency of the energy transition has transformed customer relationships into comprehensive partnerships for innovation across several projects,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “There is no path to net-zero without innovation and collaboration, and our work with customers and partners, including Air Products, is proving the validity the hydrogen economy and of our strategy to invest and develop innovative solutions to cover the entire hydrogen value chain.”

Baker Hughes’ advanced technologies and solutions serve the entire hydrogen value chain, from production to transportation and utilization. The company’s experience in hydrogen projects dates back to the 1910s, and its portfolio includes advanced compressors, gas turbines, valves, centrifugal pumps, non-metallic pipes, hydrogen sensors, monitoring and diagnostics including inspection solutions for hydrogen embrittlement in production and storage, as well as clean power solutions to produce power with hydrogen and hydrogen blends.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations

Chiara Toniato
+39 3463823419
chiara.toniato@bakerhughes.com

Investor Relations

Chase Mulvehill
+1 281-809-9088
investor.relations@bakerhughes.com 


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