Benzinga | Sep 30, 2021 04:24PM EDT

Emerson Enters Multiyear Strategic Framework Agreement With BayoTech

* Emerson Electric Co. (NYSE:EMR) entered a multiyear strategic framework agreement with BayoTech to accelerate hydrogen delivery worldwide.

* Emerson will deliver advanced automation technologies, software, and products to enable BayoTech to build hundreds of hydrogen units to produce cleaner, lower-cost hydrogen.

* BayoTech's modular hydrogen generation units produce up to 1,000 kilograms per day, enough to fill as many as 200 hydrogen fuel cell vehicles.

* These hydrogen generation units are already being built and placed in BayoGaaS hydrogen hubs and at customer sites throughout the U.S. and other global locations.

* Price Action: EMR shares closed lower by 1.51% at $94.20 on Thursday.