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.
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.
Chart Industries (GTLS) announced the acquisition of L.A. Turbine for $80 million in cash. This acquisition enhances Chart's capabilities in turboexpander design and manufacturing, crucial for applications such as hydrogen liquefaction and carbon capture. L.A. Turbine's expertise is expected to contribute significantly to Chart’s financial growth, with projected revenue increases of $40-$50 million and an EPS boost of $0.20-$0.30 in 2022. The total addressable market for Chart's specialty products expands by $350 million, highlighting the strategic importance of this acquisition.
Chart Industries, Inc. (GTLS) will hold a conference call on July 22, 2021, at 9:30 a.m. ET to discuss its Q2 2021 financial results, which will be released before market opening that day. Participants can join via telephone or access the call through a webcast on the investor relations site. A replay will also be available following the call. Chart Industries is a leading manufacturer in the Energy and Industrial Gas markets, providing essential equipment for the clean energy transition.
Chart Industries (GTLS) has secured a significant order for a large-scale helium liquefaction plant from a top independent oil and gas producer in Russia. The order includes equipment supply, commissioning, and startup, with the project reflecting the synergy of Chart's capabilities and recent acquisition of Cryo Technologies. Equipment deliveries are expected by the end of 2022, and commissioning is set for 2023. This order marks the third hydrogen/helium liquefier secured by Chart in 2021, indicating a robust market presence.
TECO 2030 ASA and Chart Industries (GTLS) have signed a three-year Memorandum of Understanding to develop onboard carbon capture solutions for ships using Cryogenic Carbon Capture technology. This collaboration aims to enable ships to capture and store CO2 emissions, helping the maritime industry comply with environmental legislation and achieve decarbonization goals set by the International Maritime Organization (IMO). The captured CO2 can be stored or utilized in various industries, promoting sustainability in shipping.
Chart Industries (GTLS) has completed a $5 million minority investment in Earthly Labs, a leader in small-scale carbon capture technology. This partnership includes a commercial Memorandum of Understanding to enhance Earthly Labs' CO2 capture capabilities, particularly for craft breweries and other industrial users. Chart's investment aims to increase the carbon capture market size from $600 million to $800 million, driven by demand for affordable CCUS solutions. The collaboration is expected to accelerate innovation and growth in the carbon capture sector.
Chart Industries (GTLS) announced a €6.5 million minority investment in Cryomotive GmbH, a green-tech startup focusing on clean hydrogen storage and refueling technology. This strategic partnership includes a commercial agreement aimed at leveraging Cryomotive’s proprietary CcH2 CRYOGAS technology to decarbonize long-haul commercial vehicles. The global market for fuel cell-powered vehicles is projected to exceed 700,000 units by 2035 in Europe and China. Chart's investment increases its addressable market for hydrogen applications by $100 million over the next five years.
Chart Industries (GTLS) announces a Development and Commercial MOU with ABB to enhance modular solutions in clean energy and water treatment sectors. This partnership will focus on developing standard modular controls for hydrogen and natural gas liquefaction plants, carbon capture plants, and more. The collaboration aims to reduce costs and risks in emerging segments. Both companies emphasize sustainability and innovation, with Chart leveraging ABB's expertise in automation and power supply to advance their technology offerings.
Chart Industries (GTLS) reported a strong Q1 2021, with record orders of $417.2 million and a backlog of $934.1 million. Diluted earnings per share surged to $0.63, a 950% increase from Q1 2020. The company expects full-year revenue between $1.36 billion and $1.41 billion, reflecting organic and inorganic growth, including significant investments in hydrogen and carbon capture technologies. Key segments like Repair, Service & Leasing and Specialty Products accounted for 41.1% of total net sales. The gross margin reached 29.1%, the highest in four years.
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