LEHIGH VALLEY, Pa., Feb. 13 /PRNewswire-FirstCall/ -- Air Products (NYSE: APD) and Applied Process Technology, Inc. today announced the signing of a license agreement for Applied's patented HiPOx(TM) technology. The license agreement provides Air Products exclusive rights to market the technology in the United States and Canada for municipal wastewater and drinking water applications at greater than one million gallons per day water flow rate. The agreement also provides Air Products non-exclusive access to other geographic regions, as well as industrial wastewater and groundwater remediation applications of the technology.

HiPOx technology uses an advanced oxidation process which combines ozone and hydrogen peroxide to form hydroxyl radicals. The hydroxyl radicals oxidize organic contaminants in water without creating additional waste streams. Unlike other ozone-based advanced oxidation systems, HiPOx technology minimizes the formation of by-products, such as bromate, making it ideal for drinking water applications in addition to remediation, wastewater and process water clean-up. The applications for the technology include taste, odor, and color reduction, destruction of volatile organic compounds (VOCs), water disinfection for reuse, and removal of microcontaminants such as endocrine disruptors.

'This technology is a significant building block for our water treatment business. Water treatment is an important growth area for Air Products, building on our gases experience and expanding into new equipment-based solutions. Our existing water treatment business has focused primarily on industrial wastewater applications. HiPOx technology combined with other internally developed offerings provides an entry for Air Products into the drinking water and water reuse segments,' said Deborah Anderson, business development manager for North America Merchant Gases at Air Products.

'It is great to be working with Air Products on this and we're very excited about the potential HiPOx penetration of the market moving forward,' said Terry Applebury, Applied's president and CEO. 'Applied was founded on the premise that the drinking water industry was faced with a growing array of new and emerging man-made chemical contaminants and that the industry would recognize the value of a technology like HiPOx. The complement of Applied's 'clean water, no waste' philosophy and Air Products' expansion of their water treatment initiatives will be a benefit to municipalities and others needing treatment. Our team takes great pride in being associated with Air Products' pursuit of this market.'

For more information about Air Products' water systems offerings, visit http://www.airproducts.com/watersystems.

About Air Products

Air Products (NYSE: APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leadership positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $10 billion, operations in over 40 countries, and over 22,000 employees around the globe. For more information, visit http://www.airproducts.com.

About Applied Process Technology, Inc.

Since 1996 Applied has been committed to developing innovative, cost-effective solutions to address the globe's water-related needs. The company is focused on providing environmentally friendly, waste-free, and sustainable water solutions for the drinking water, environmental remediation, industrial process water, wastewater and homeland security markets -- quickly and cost-effectively -- without generating residual waste streams, or harmful by-products. Applied is comprised of executives, engineers and scientists from the chemical, water, and environmental industries who collectively have over 100 years of technology know-how. Flagship technologies include: HiPOx pump & treat technology; PulseOx, an aggressive in-situ (underground) chemical oxidation technology that destroys groundwater contaminants directly in the sub-surface aquifer; and Applied's hydrogen-based hollow-fiber Membrane Biofilm Reactor (MBfR) technology, licensed from Northwestern University and now being showcased at several commercial municipal water sites in California. For additional information about Applied's waste-free product line, please visit http://www.aptwater.com.

Applied has a long-term cooperation agreement with Teijin Limited (Teijin, TYO: 3401), based in Tokyo, Japan. Teijin and Applied are working together to accelerate the commercialization of Applied's technologies into all water treatment markets. The agreement includes an option for Teijin to take majority control of Applied over time.

***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.

SOURCE Air Products

Source: PR Newswire (February 13, 2008 - 10:30 AM EST)

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