Linde Posts 21% Growth For New Small On-site Projects During 2022

(RTTNews) - Linde (LIN) announced it signed 52 new small on-site projects for the supply of nitrogen and oxygen in 2022, a 21% increase from last year. The company said the increase was largely driven by growing demand for next-generation energy storage, such as lithium-ion batteries. The Small on-site projects use the company's proprietary ECOVAR technology.

Linde also saw continued strong demand from traditional end markets including electronics, manufacturing, metals and mining.

The company noted that most of the projects require investments under $5 million and are separate from its quarterly reported project backlog.