Air Products: Cutting Edge of Alt. Energy?
Air Products & Chemicals is entering the new-tech game.
Talking with Cramer today, CEO and President John McGlade said his firm has registered patents for lithium-ion batteries – that Holy Grail of hybrid engines.
But that technology is still some ways away, McGlade said. In the meantime, APD is supplying Duke Energy oxygen for the gasification of coal to make power. It’s a way to get rid of damaging greenhouse gases. Since the U.S. is known as the Saudi Arabia of coal – at least that’s what Cramer calls it – this could be a big step toward energy independence.
Another good thing about Air Products: The company’s raising prices despite this troubled economy. McGlade attributed that to a diversified client list and a “pretty unique business model” that allows him to charge more when his own costs go up.
“He is trying to solve mankind’s problems,” Cramer said of McGlade. “I say mankind’s problem-solving is going to make you more money. Buy some Air Products. You won’t regret it.”
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