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, Inc. (GTLS) has scheduled a conference call for October 21, 2021, at 9:30 a.m. ET to discuss third quarter 2021 financial results. The earnings release will be issued prior to market open on the same day. Participants can join the call by dialing (877) 312-9395 in the U.S. or (970) 315-0456 internationally. A replay will be available on the investor relations website starting at 12:30 p.m. ET on October 21 until October 28. Chart Industries is a leading global manufacturer in the Energy and Industrial Gas markets.
Chart Industries, Inc. (NYSE: GTLS) has been awarded the Emissions Reductions Champion – Organization of the Year at Gastech 2021 in Dubai. This accolade recognizes organizations implementing effective strategies for emissions reductions. Chart has achieved a 30% reduction target for carbon emissions by 2030, with a reported 6% decrease in GHG intensity and 9% reduction in Scope 1 and Scope 2 emissions in 2020. The company continues to focus on clean energy transitions, contributing significantly to LNG production and diesel reduction in power generation.
Chart Industries (GTLS) has partnered with FLSmidth to implement advanced carbon capture technology aimed at reducing CO2 emissions from cement production, which contributes 7-8% of global emissions. The initiative focuses on adapting Chart’s Cryogenic Carbon Capture™ (CCC) technology for the cement industry, targeting over a 90% reduction in carbon emissions at half the cost of existing methods. This collaboration is expected to leverage FLSmidth's extensive industry knowledge to accelerate the commercialization of CCC technology and support the industry's transition towards net-zero emissions.
Chart Industries (GTLS) has increased its ownership in HTEC Hydrogen Technology & Energy Corporation from 15.6% to 25%. This follows an initial investment in December 2020 and comes as Chart partners with I Squared Capital, which now holds 35% of HTEC. The combined stake of 60% aims to bolster HTEC's capabilities in green hydrogen production and fueling infrastructure. The investment is timely, given Canada's commitment to clean energy, enhancing Chart's position in a growing market. The existing Memorandum of Understanding (MOU) between Chart and HTEC continues to facilitate commercial relations.
Chart Industries (NYSE: GTLS) has acquired AdEdge Holdings for $40 million, expanding its water treatment capabilities. AdEdge specializes in technologies that remove contaminants, including PFAS and PFOS, contributing to a growing market projected to reach $5 billion by 2030. This acquisition will enhance Chart's offerings and is expected to add $35-40 million in revenue and $0.11-0.16 EPS in 2022. The integration is positioned to strengthen Chart's focus on sustainable solutions amid increasing regulatory demands.
The Board of Directors of Chart Industries (NYSE: GTLS) has appointed three new independent directors: Paula Harris, Linda Harty, and Roger Strauch. This expands the board to nine members, with four directors being female and five diverse. Harris brings over 34 years of oilfield services experience with Schlumberger, focusing on environmental sustainability. Harty has extensive financial expertise from roles at Medtronic and Cardinal Health. Strauch, chairman of The Roda Group, specializes in early-stage climate change technologies. These appointments aim to enhance governance and strategic growth.
Chart Industries has launched a new division, ChartWater™, aimed at enhancing its water treatment solutions by leveraging its engineering expertise. This development follows the acquisition of BlueInGreen in November 2020, which is set to boost its market presence in the water treatment sector. With an estimated total addressable market (TAM) of $700 million currently and $2.3 billion projected by 2030, ChartWater™ aims to integrate water treatment with clean energy goals, emphasizing the critical relationship between energy production and water consumption.
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Chart Industries, Inc. (GTLS) reported a record $447.9 million in orders for Q2 2021, driving total backlog to $1,083.9 million. Q2 sales reached $322.0 million, up 11.6% sequentially and 11.2% year-over-year. Adjusted EPS increased 88% year-to-date. The company completed the acquisition of L.A. Turbine and anticipates 2021 revenue of $1.38 billion to $1.43 billion, raising 2022 revenue outlook to $1.60 billion to $1.70 billion. Demand is expected to grow across various sectors, including hydrogen and LNG, amidst strategic investments in innovative technologies.
Hyzon Motors and Chart Industries have announced a partnership aimed at developing a liquid hydrogen-powered heavy-duty commercial vehicle with a range of up to 1,000 miles. This collaboration seeks to revolutionize long-haul trucking by utilizing liquid hydrogen, which offers a denser, lighter storage alternative compared to gaseous storage. The project aims to reduce hydrogen infrastructure costs and the number of refueling stations needed, paving the way for a hydrogen-based transport industry and potentially impacting aviation and marine transport as well.