Chart Industries Stock Price, News & Analysis

Chart Industries (NYSE: GTLS) announced plans to offer up to $1.31 billion in senior secured notes due in 2030 and $750 million in senior unsecured notes due in 2031. The proceeds will fund the acquisition of Howden and cover associated expenses. The secured notes will be guaranteed by Chart's wholly owned domestic subsidiaries and secured by first-priority liens on assets. The offering will occur privately, following Rule 144A and Regulation S of the Securities Act, and will not be registered under the Securities Act.

Chart Industries (GTLS) announced a collaboration with Babcock & Wilcox (B&W) to enhance the deployment of B&W’s BrightLoop hydrogen generation technology. This partnership aims to streamline low-carbon hydrogen production and improve carbon capture solutions. The collaboration includes the development of sales strategies for hydrogen and carbon capture projects. Both companies highlight the importance of low-carbon hydrogen in combating climate change, leveraging each other's technologies to create innovative solutions for power and industrial markets.

Babcock & Wilcox (NYSE: BW) has signed a collaboration agreement with Chart Industries (NYSE: GTLS) to advance B&W’s BrightLoop hydrogen generation technology. This partnership aims to produce low-carbon hydrogen and efficiently manage carbon dioxide using Chart's liquefaction and carbon capture solutions. Both companies will also devise sales strategies for commercial hydrogen and carbon capture projects. B&W's BrightLoop technology is versatile, converting various fuels into hydrogen, syngas, and steam, while Chart’s technology enhances the storage and transport of liquid hydrogen.

Chart Industries has partnered with Maine Beer Company to implement its Earthly Labs' carbon capture technology, aimed at reducing greenhouse gas emissions. This innovative CiCi® technology allows the brewery to capture waste CO2 from fermentation, purifying and reusing it for carbonation, thereby reducing their carbon footprint significantly. The initiative aligns with the recent Inflation Reduction Act, emphasizing the importance of carbon capture in climate change mitigation. This technology is now accessible to smaller operations, making it a game changer for sustainable brewing.

Chart Industries will hold a conference call on November 14, 2022, at 8:30 a.m. ET to discuss the acquisition of Howden. Participants can join by calling (800) 715-9871 in the U.S. or (646) 307-1963 internationally, using conference ID 4986008. A slide presentation will be available before the call, and a live webcast will be accessible on Chart's investor relations website.

Chart Industries is a leading manufacturer providing equipment for the energy and industrial gas markets, focusing on clean energy technologies.

KPS Capital Partners has reached a definitive agreement to sell Howden to Chart Industries for $4.4 billion. Howden specializes in air and gas handling solutions and has shown notable growth under KPS's ownership, including significant investments and seven acquisitions that enhanced its market position. With over 6,500 employees globally, Howden aims to continue its growth trajectory as part of Chart Industries, benefiting from synergies in sustainability and industrial applications. The transaction is pending customary closing conditions and approvals.

Chart Industries (NYSE: GTLS) has announced a definitive agreement to acquire Howden for $4.4 billion, funded through cash and a new class of preferred stock. This acquisition is expected to close in the first half of 2023, pending regulatory approvals. With a projected combined revenue of $3.4 billion, the deal marks a significant expansion for Chart in the air and gas handling sector. Estimated synergies include $175 million in cost savings within the first year and $350 million in commercial synergies by year three, enhancing Chart's position in clean energy technologies.

Chart Industries (NYSE: GTLS) and CarbonCure Technologies have deepened their collaboration to enhance equipment for liquid carbon dioxide storage and transport. This partnership will utilize Chart's Cryogenic Carbon Capture technology at concrete facilities globally. The agreement aims to support CarbonCure's carbon removal technologies by employing Chart’s cryogenic storage tanks and trailers for CO₂ transport. This initiative seeks to permanently embed captured CO₂ in concrete, significantly reducing the industry's carbon footprint.

Flowserve Corporation (NYSE: FLS) and Chart Industries, Inc. (NYSE: GTLS) have entered into an agreement to advance hydrogen technology as a cleaner fuel source. Flowserve will acquire R&D from Chart related to liquid hydrogen fueling pumps and will become the sole manufacturer. These pumps will support more than 100 planned hydrogen fueling systems for fuel cell vehicles, set to roll out in California, Australia, and South Korea over the next five years. This partnership aligns with Flowserve's strategy for diversification and decarbonization.