Air Liquide has revealed that over half of its €4.6bn ($5.3bn) investment backlog is linked to hydrogen and the energy transition, with €2.3bn ($2.6bn) in new investments approved in the first half of 2025.

Air Liquide Group CEO François Jackow described the investment backlog – over 40% of which is tied to energy transition projects – as a “new record.”

Representing a 39% increase compared to H1 2024, the €2.3bn of investments include the development of large low-carbon hydrogen electrolysers in France and the Netherlands.

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