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4-Traders Homepage  >  Equities  >  Xetra  >  Linde AG    LIN   DE0006483001


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Linde AG : Trade News - BOC joins forces with Alstom and Drax in flagship CCS project

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01/24/2012 | 06:32pm CEST

Guildford, UK, 24 January 2012 - Industrial gases provider BOC is joining Alstom and Drax as a co-developer on the 426 MW oxy-fired carbon capture and storage (CCS) project currently under development at the Drax site in North Yorkshire. BOC was selected following a competitive process and brings world-leading technology in the field of air separation, as well as complementary plant engineering and integration capabilities from its parent The Linde Group that will further enhance the deliverability of the project.

The project will link into the Humber Cluster CO2 transport and off-shore storage network currently under development by National Grid. The key partners in this industry initiative represent Europe's strongest-ever industrial alliance to fast-track the commercialisation of CCS technologies.

The project is a candidate for NER 300 funding from the EU, following the submission of the project by the UK DECC Office of Carbon Capture and Storage in May 2011. The developers also intend to apply for support under the forthcoming UK DECC CCS Demonstration Programme. The completed project will demonstrate the technical and commercial viability of CCS as a competitive low-carbon technology and an important part of the post 2020 energy mix in the UK.

Stephen Burgin, Alstom's UK Country President and Peter Emery, Drax's Production Director said: "We are delighted to welcome BOC to the project development team and are confident that the combination of major industrial players now assembled has what's needed to take CCS from pilot scale to full-scale operation, in what promises to be a flagship project for the UK, Europe and beyond."

Mike Huggon, Managing Director of BOC added: "We are excited to be joining this key project at such a critical time for clean energy technologies and look forward to seeing the benefits to the environment and UK economy that CCS will bring."

Notes to Editors
NER 300: Launched by the European Commission, NER 300 is the world's largest demonstration programme for low-carbon technologies and is named after its funding source, which will be the sale proceeds of 300 million emission allowances held in the New Entrants Reserve (NER) of the EU Emissions Trading System (ETS). It aims to encourage private sector investors and EU Member States to invest in commercial low-carbon demonstration projects.

DECC: The Department of Energy and Climate Change (DECC) was created in October 2008 and brings together energy policy previously held by BERR (now the Department for Business Innovation and Skills) and Defra (Department for Environment, Food and Rural Affairs). Its mission is to create a thriving, globally competitive, low carbon energy economy.

About BOC
BOC is a member of The Linde Group. An industrial, medical and special gases provider, the company supplies compressed and bulk gases, chemicals and equipment. For more than a century the company's gases and expertise have contributed to advances in many areas of everyday life, and industries including steelmaking, refining, chemical processing, environmental protection, wastewater treatment, welding and cutting, food processing and distribution, glass production, electronics and health care.

About The Linde Group
The Linde Group is a world-leading gases and engineering company with around 50,000 employees working in more than 100 countries worldwide. In the 2010 financial year, it achieved sales of EUR 12.868 billion. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment - in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

Further information: 

Susan Tyzack
Communications and External Affairs Manager
Phone +44.1483.244224
E-Mail: susan.tyzack@boc.com
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Financials (€)
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EBIT 2016 2 213 M
Net income 2016 1 264 M
Debt 2016 7 389 M
Yield 2016 2,76%
P/E ratio 2016 18,97
P/E ratio 2017 17,47
EV / Sales 2016 1,78x
EV / Sales 2017 1,69x
Capitalization 23 904 M
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Wolfgang Heinz Büchele Chief Executive Officer
Wolfgang W. Reitzle Chairman-Supervisory Board
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