Linde is one of the world's largest industrial gas companies, supplying oxygen, nitrogen, hydrogen, argon and other gases that manufacturing, healthcare, food processing and energy companies depend on to run their operations. Much of its business comes from long-term, often decades-long contracts to build and operate on-site gas production facilities directly at a customer's plant, which creates a highly recurring, sticky revenue base. Linde was formed through the merger of Linde AG and Praxair, consolidating two of the largest players in a global industry with only a handful of comparable competitors. Rising demand for hydrogen as a clean energy carrier and industrial feedstock has become a growth area layered on top of its traditional gas supply business.