Chart Industries Awarded Four Hydrogen and Small-Scale LNG Liquefaction Orders Totaling Over $120 Million This Past Week
ATLANTA, Dec. 29, 2021 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and clean energy industries, was awarded over $120 million of orders for four liquefaction projects, with four different customers over the past week. Additionally, this past week we have received releases on engineering work (Limited Notice to Proceed) on two of the big LNG export terminal projects expected to proceed to Final Investment Decision in 2022. Highlights of the four liquefaction project awards include:
- Hydrogen liquefier: A 15 ton per day (“TPD”) hydrogen liquefier to be built in North America with a new hydrogen liquefaction customer. This is our fourth hydrogen/helium liquefaction order of the year in 2021, with those four orders totaling approximately $150 million, covering three different geographies and three different customers.
- 60,000 ton BioLNG liquefaction and associated equipment: A BioLNG facility and associated station infrastructure for 20 BioLNG stations with our European customer, VERBIO.
- Utility-scale LNG liquefaction plant: An integrated utility scale liquefaction plant with the first in the nation hybrid (gas/electric) drive with a Northeast United States (U.S.) customer. This next generation liquefaction process further increases efficiency and reduces emissions, meeting the highest standards set in the Northeast U.S. This customer plans to utilize both natural gas and RNG in this long duration energy storage solution meeting reliability and environmental targets.
- Utility-scale LNG liquefaction plant: A Nitrogen Refrigeration Cycle Liquefaction System at an existing LNG peak shaving facility for use by a regulated United States utility company. Recent upgrades have been made to this facility and Chart is proud to continue that trend by furnishing a new gas turbine compressor, cold box, heavy hydrocarbon removal system, turbo expanders, and other associated equipment.
“We are pleased that our hydrogen and LNG liquefaction process technology and equipment capabilities are recognized and utilized globally and across industries,” stated Jill Evanko, Chart’s CEO and President. “We view this past week’s awards and overall continued broad-based demand as strong indicators that the energy transition is accelerating. These orders give further support to our previously announced 2022 outlook.”
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com.
Certain statements made in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning Chart’s business plans, including statements regarding objectives, future orders, revenues, margins, earnings, performance or outlook, business or industry trends and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “indicators”, “outlook,” “guidance,” “continue,” “target,” or the negative of such terms or comparable terminology.
Forward-looking statements contained in this press release or in other statements made by Chart are made based on management’s expectations and beliefs concerning future events impacting Chart and are subject to uncertainties and factors relating to Chart’s operations and business environment, all of which are difficult to predict and many of which are beyond Chart’s control, that could cause Chart’s actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause Chart’s actual results to differ materially from those described in the forward-looking statements include: Chart’s ability to successfully integrate recent acquisitions and achieve the anticipated revenue, earnings, accretion and other benefits from these acquisitions; slower than anticipated growth and market acceptance of carbon capture and other new clean energy product offerings; inability to achieve expected pricing increases or continued supply chain challenges including volatility in raw materials and supply; risks relating to the outbreak and continued uncertainty associated with the coronavirus (COVID-19 and its variant(s)) and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.
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Investor Relations Contact – Chart Industries:
Wade Suki, CFA
Director of Investor Relations