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.
Chart Industries (NYSE: GTLS) secured over $120 million in orders for four liquefaction projects from various customers. Recent contracts include a 15 TPD hydrogen liquefier in North America, a 60,000 ton BioLNG liquefaction facility for VERBIO, a utility-scale LNG liquefaction plant in the Northeast U.S., and upgrades to an existing LNG facility for a regulated utility company. CEO Jill Evanko highlighted these awards as strong indicators of accelerating demand in the energy transition, contributing positively to Chart's outlook for 2022.
Chart Industries (GTLS) announced the acquisition of Earthly Labs for $62 million, gaining an 85% stake. The deal is primarily cash-based (62%) with the remainder in stock, valuing shares at $169.42. Earthly Labs specializes in small-scale carbon capture technology. This acquisition is seen as a strategic expansion into carbon capture, projected to contribute approximately $20 million in revenue for 2022 and enhance earnings per share by $0.12. CEO Jill Evanko highlighted the synergy in markets served, while Earthly Labs’ founder expressed a commitment to advancing climate solutions.
Chart Industries (NYSE: GTLS) and Howden have entered a Memorandum of Understanding (MOU) to collaborate on advanced hydrogen solutions. The partnership aims to integrate Howden's gas compression systems into Chart's hydrogen offerings, resulting in cost-effective and standardized solutions for customers. This collaboration is expected to enhance global aftermarket support and accelerate the commercialization of hydrogen projects in the coming decade. Both companies emphasize their commitment to customer satisfaction and reducing costs associated with renewable hydrogen development.
Chart Industries (NYSE: GTLS) has signed a Memorandum of Understanding with Hylium Industries to establish a joint venture focused on producing liquid hydrogen trailers in South Korea. The agreement includes a purchase order for three trailers, which will be designed and manufactured under Hylium's oversight, ensuring compliance with local regulations. CEO Jill Evanko emphasized the collaboration's potential to advance clean energy initiatives, while Hylium's CEO expressed optimism about enhancing Korea's hydrogen economy through this partnership.
Chart Industries reported strong financial results for Q3 2021, showcasing a record backlog of $1.1 billion and $350.2 million in orders, a 53.3% increase year-to-date. Sales reached $328.3 million, a 20.2% rise from Q3 2020. However, the full-year sales guidance decreased to $1.31-$1.33 billion, attributed to project timing shifts. The adjusted EPS guidance for 2021 is set at $2.75-$3.10. For 2022, a revenue outlook increase to $1.70-$1.85 billion is projected, reflecting anticipated continued demand and recent acquisitions.
Saulsbury has been awarded a contract for a pre-FEED study for a hydrogen liquefaction facility, enhancing its position in the hydrogen market. The company is collaborating with Chart Industries (NYSE: GTLS), leveraging over 50 years of hydrogen experience. This partnership aims to deliver preliminary designs and economic feasibility for the project. Saulsbury's reputation as a premier EPC provider is reinforced by this award, which supports its strategy to diversify into the renewable energy sector.
Chart Industries (NYSE: GTLS) announced collaboration with the IHE Delft Institute for Water Education to advance research on biological treatment processes using BlueInGreen’s SDOX® technology. This partnership aims to enhance water treatment solutions, offering lower costs and increased efficiency. Notably, past research indicated SDOX® achieves over 95% oxygen transfer efficiency. The initiative continues the commitment to sustainable innovation and knowledge-sharing in water treatment processes.
Chart Industries has signed a Memorandum of Understanding (MOU) with Ionada to collaborate on Carbon Capture and Sequestration (CCUS) projects. This non-exclusive agreement aims to leverage Ionada's carbon capture technology alongside Chart's CO2 storage systems to minimize the carbon footprint of the shipping industry. The collaboration aligns with the International Maritime Organization's goals for reducing emissions, targeting a 40% reduction in carbon intensity by 2030. Chart’s global manufacturing capabilities position it to support ship retrofits in numerous countries.
Chart Industries, Inc. (GTLS) has appointed Joe Brinkman as the new Vice President and Chief Financial Officer, effective October 1, 2021. Brinkman succeeds Scott Merkle, who is set to retire on October 1, 2022, and will assist in the transition. Brinkman has a 23-year history at Chart, previously serving as Vice President and General Manager of Industrial Gas Products. His responsibilities will include financial reporting and global sourcing. CEO Jill Evanko emphasized the strength of the leadership team and the importance of succession planning.
Chart Industries (NYSE: GTLS) has received a U.S. Department of Energy (DOE) funding award of $4,999,875 to develop its Sustainable Energy Solutions Cryogenic Carbon Capture™ (CCC) technology at a cement plant in Missouri. This initiative aims to capture over 95% of CO2 emissions, enhancing their existing relationship with the DOE. The project highlights the company's leadership in carbon capture technology, which was recently acknowledged by MIT and Exxon as a competitive solution. Chart anticipates a $6 billion addressable market by 2030.