Linde

Oxygen, nitrogen, argon and hydrogen are the quiet inputs behind steelmaking, hospitals, chemicals and electronics, and Linde is the largest supplier of them in the world. The company separates gases from air and delivers them by pipeline, tanker or on-site plant, often under contracts that run for a decade or more and reprice with costs. That structure gives it steady, recurring revenue that holds up better than most industrial businesses through downturns.

Today's Linde was formed in 2018, when Germany's Linde AG merged with the American company Praxair; the combined group is headquartered in Woking, England and registered in Ireland. Its growth story now leans heavily on hydrogen and carbon capture, where it already builds and runs much of the plumbing. The main risks are the energy costs that feed its plants and the heavy capital spending each new facility demands.

On MyRWA, LIN trades tokenized across 10 on-chain venues - see the listings below.