Chart Industries Stock Price, News & Analysis

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.

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.

Hyzon Motors and Chart Industries (NYSE: GTLS) have partnered to develop a liquid hydrogen-powered heavy-duty commercial vehicle targeting a range of up to 1,000 miles. This innovation aims to overcome storage limitations of gaseous hydrogen, allowing for greater payload capacity and fewer refueling stations. The collaboration leverages Chart’s expertise in liquid hydrogen equipment and Hyzon’s hydrogen fuel cell technology, streamlining infrastructure needs and potentially transforming hydrogen transport in trucking, aviation, and other sectors.