Welcome to our dedicated page for Chart Industries news (Ticker: GTLS), a resource for investors and traders seeking the latest updates and insights on Chart Industries stock.
Chart Industries, Inc. (NYSE: GTLS) regularly issues news that sheds light on its role in energy and industrial gas solutions, its participation in major projects, and its ongoing corporate transformation. The company describes itself as a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling, with a portfolio that spans LNG, hydrogen, biogas and CO2 capture applications.
News about Chart often covers large project awards and technology selections. Recent examples include being chosen by Bechtel Energy to supply air-cooled heat exchangers, brazed aluminum heat exchangers and cold boxes for Sempra Infrastructure’s Port Arthur LNG Phase 2 project, and LNG Alliance’s decision to adopt Chart’s IPSMR® process technology and modular liquefaction solution for the Amigo LNG export facility in Mexico. Such announcements highlight how Chart’s technologies are deployed in LNG export infrastructure and other energy projects.
Investors and industry observers will also find earnings releases and segment updates that detail order trends, sales by segment, margins and cash flow across Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service and Leasing. These releases describe demand across LNG, hydrogen, data centers, space exploration, marine, nuclear, carbon capture and other end markets, as well as the growth of Chart’s aftermarket, service and repair activities and its Digital Uptime™ monitoring offering.
Another important category of news involves strategic and corporate developments. Chart has reported on the terminated stock-based merger agreement with Flowserve Corporation, the subsequent definitive agreement for an all-cash acquisition by Baker Hughes Company, shareholder approval of the Baker Hughes transaction, and related regulatory milestones. Leadership and governance updates, including the planned transition of CEO Jill Evanko to a Senior Advisor role and the appointment of Gerry Vinci as President, are also disclosed through company news.
For readers tracking GTLS, the news stream provides insight into Chart’s project pipeline, technology deployments, segment performance and the progress of its pending acquisition by Baker Hughes. Reviewing these updates over time can help contextualize the company’s strategic direction and its participation in clean energy and industrial gas markets.
On January 4, 2023, Chart Industries (NYSE: GTLS) and BNG Clean Fuel Corporation announced a Memorandum of Understanding (MOU) for Chart to supply hydrogen liquefaction technology and equipment. The partnership aims to establish hydrogen fueling stations and foster industry relationships for hydrogen production and distribution. BNG's DenverH2 pilot hub is set to include dual-22 ton per day hydrogen liquefaction facilities and multiple liquid hydrogen stations, with anticipated orders from Chart expected in 2023 and 2024.
Chart Industries, a leader in clean energy technology, will present at the Goldman Sachs Global Energy and Clean Technology Conference on January 6, 2023, at 12:40 p.m. ET in Miami, Florida. CEO Jill Evanko will represent the company, highlighting its commitment to innovative solutions in the energy and industrial gas markets. Chart Industries specializes in liquefied natural gas, hydrogen, and CO2 Capture, with a global presence in over 25 manufacturing locations. A live webcast will be available on their website for those interested in the event.
Raven SR and Chart Industries (GTLS) have announced a global collaboration focused on the liquefaction, storage, and transportation of hydrogen and carbon dioxide produced from Raven SR's non-combustion process. The Memorandum of Understanding includes engineering packages and equipment provided by Chart to enhance Raven SR's ability to supply hydrogen and CO2 as products. This partnership aims to optimize production facilities for clean fuels while supporting emissions reduction goals through a supply chain solution that converts captured biocarbon into liquefied products.
Chart Industries has priced its concurrent offerings of 5,923,670 shares of common stock at $118.17 per share and 7,000,000 depositary shares at $50 per share. The net proceeds are estimated at $675.5 million for common stock and $337.8 million for depositary shares. Funds will partly finance the acquisition of Howden. Holders of depositary shares will receive proportional rights of the preferred stock, converting into common stock by December 2025, with a dividend rate of 6.75%.
Chart Industries, Inc. (NYSE: GTLS) has priced a significant offering of $1.46 billion in 7.500% senior secured notes due 2030, and $510 million in 9.500% unsecured notes due 2031. The notes are set to close on December 22, 2022, subject to customary conditions. Proceeds will fund the acquisition of Howden and cover associated costs. The secured notes will have first-priority liens on assets supporting Chart’s credit obligations. This offering is limited to qualified institutional buyers and non-U.S. persons under Regulation S, and is not registered under the Securities Act.
Chart Industries (NYSE: GTLS) announced concurrent offerings totaling $900 million, comprising $600 million in common stock and $300 million in depositary shares, subject to market conditions. The offerings include an option for underwriters to purchase additional shares. Proceeds will help reduce the equity stake in Series A Preferred Stock related to the acquisition of Howden. Holders of the Depositary Shares will receive rights akin to the Preferred Stock, which is expected to convert into common stock by December 2025. No public market exists yet for these securities.
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.