A) What the “Industrial Gas New Business Generator Leadership Formula” Is
It is a structured way to generate high-quality, high-ROCE, volatility-resilient growth in Industrial Gas in 2026.
Not volume growth.
Not random tender chasing.
Not hydrogen hype.
But:
Disciplined, capital-aware new business creation under volatility.
B) The Core Leadership Formula
Here is the structural formula:
New Business Value Creation (NBVC) NBVC=(M×R×V)−(C×A)
Where:
M = Structural Margin Quality
R = Revenue Stability
V = Volatility Resilience
C = Capital Intensity
A = Amplification Risk
The goal is not just to increase M.
The goal is to maximize:
(M × R × V)
while minimizing:
(C × A)
C) Translate Into Industrial Gas Reality
1️⃣ Margin Quality (M)
Ask:
• Is this project energy efficient?
• Is pricing indexed?
• Are service elements bundled?
• Is there specialty gas premium?
Bulk commodity oxygen at tight spread ≠ High-quality margin.
Bundled on-site hydrogen + service + monitoring = Higher M.
2️⃣ Revenue Stability (R)
• Long-term contract?
• Indexed clauses?
• Multi-site customer?
• Take-or-pay volume?
Stability without rigidity.
3️⃣ Volatility Resilience (V)
• Energy pass-through quality
• Geographic diversification
• Flexible capacity
• AI scheduling integration
If volatility rises 20%, does EBITDA drop 5% or 20%?
That’s V.
4️⃣ Capital Intensity (C)
• €/€ invested
• Payback period
• Asset redeployability
• Modularity
High capital + low flexibility = drag on formula.
5️⃣ Amplification Risk (A)
• Decision latency
• Contract lag
• Maintenance vulnerability
• Single energy source dependency
Amplification is the hidden destroyer.
D) The 2026 Execution Model
Now we turn formula into action.
Step 1 — Segment Opportunity Universe
Divide into:
- Low Capital / High Margin (Specialty gases, digital services)
- Medium Capital / Indexed Revenue (On-site long-term)
- High Capital / Strategic Infrastructure (Large ASU, Hydrogen)
You prioritize:
Category 1 + 2.
Category 3 only with strong V and R.
Step 2 — Apply the Filter
For every new project, score 1–10:
M
R
V
C
A
If:
(M × R × V) < (C × A)
Reject or redesign.
This prevents ego-driven expansion.
Step 3 — Add AI-Orchestrator Layer
Before approving project:
Simulate:
• Energy +15%
• Carbon +20%
• Volume –10%
• 3-month pass-through lag
If EBITDA collapses → not resilient.
If stable → scalable.
E) What Changes in 2026 vs 2015
In 2015:
Scale + contracts were enough.
In 2026:
Speed + resilience + indexed logic matter more.
Energy divergence + carbon cost + regulation create structural divergence.
Growth without orchestration = margin erosion.
F) The 2026 Leadership Priorities
Industrial Gas leaders must:
1️⃣ Shift from volume targets to volatility-adjusted ROCE
2️⃣ Reject projects without index discipline
3️⃣ Reduce capital lock-in
4️⃣ Build AI-assisted scheduling + energy optimization
5️⃣ Bundle service + monitoring to increase M
G) Sustainable Benefits of Applying the Formula
If applied consistently:
• Higher volatility-adjusted ROCE
• Reduced margin shock under energy spikes
• Faster payback cycles
• Lower capital rigidity
• Improved investor confidence
• Stronger free cash-flow stability
H) Risk of Not Applying It
Without structural filter:
• Expansion during energy volatility
• Long-term margin compression
• Capital stuck in low-return assets
• Hydrogen hype exposure
• EBITDA instability
• Rating pressure
Growth becomes fragility.
I) Strategic Insight
Industrial Gas in 2026 is not about:
“How big can we grow?”
It is about:
“How intelligently can we grow under volatility?”
That is AI-Orchestrator Leadership.
