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 (GTLS) has announced a conference call on February 18, 2021, at 9:30 a.m. ET to discuss its fourth quarter and full year 2020 financial results. The earnings release will be issued prior to market open on the same day. Participants can join by dialing (877) 312-9395 in the U.S. or (970) 315-0456 internationally, using Conference ID 7484415. A replay will be available one hour after the call concludes, with access through the investor relations website.
Chart Industries specializes in high-engineered equipment for the energy and industrial gas markets.
Chart Industries announced its plan to transfer its common stock listing from NASDAQ to the New York Stock Exchange (NYSE) effective February 1, 2021, with the ticker symbol GTLS remaining the same. This transition is expected to enhance the company's visibility and partnerships, especially as four of its top five customers are also NYSE-listed. Chart's CEO expressed enthusiasm for the move, highlighting the benefits of joining a global exchange known for innovation and leadership in clean energy.
Chart Industries (GTLS) has signed a Memorandum of Understanding (MOU) with Matrix Service Company (MTRX) to develop standardized hydrogen solutions in North America. This collaboration aims to enhance hydrogen liquefaction, storage, and fueling infrastructure, leveraging both companies' expertise. Chart reported over $38 million in hydrogen equipment orders in 2020, contributing to a total of $283.6 million in specialty market orders. The partnership focuses on cost-effective and scalable hydrogen solutions, supporting the clean energy transition.
Chart Industries (GTLS) has completed the acquisition of Sustainable Energy Solutions (SES) on December 23, 2020. SES’s Cryogenic Carbon Capture technology significantly reduces fossil fuel emissions while enhancing renewable energy storage. This acquisition integrates SES's technology with Chart's existing equipment, providing a comprehensive solution for carbon capture and energy storage. Effective from year-end 2020, SES's contributions will be reported under the Specialty Products segment, targeting a $4.3 billion market potential across multiple industries, including hydrogen and water treatment.
Chart Industries (GTLS) announced a CAD $20 million investment in HTEC Hydrogen Technology & Energy Corporation, acquiring 15.6% of its capital stock. This investment provides access to hydrogen fuel supply solutions and Canadian projects, aligning with Chart's strategy for clean energy. HTEC’s partnerships include significant customers like Shell and Toyota, enhancing revenue opportunities for Chart. The move supports the anticipated growth in Chart's hydrogen business, targeting a $1.1 billion market by 2023 and recording hydrogen equipment orders of $18.1 million in Q4.
Chart Industries has signed a letter of intent to acquire Sustainable Energy Solutions for $20 million in cash, plus an earn-out, aiming to close the deal within 30 days. SES’s Cryogenic Carbon Capture technology will enhance Chart’s capabilities in the clean energy sector, expanding their total addressable market from $400 million to $600 million. This acquisition will integrate carbon capture with various energy storage solutions and applications, providing comprehensive services to clients. The deal's impact on 2021 guidance is expected to be immaterial.
Chart Industries, Inc. (NASDAQ: GTLS) announced that CEO Jill Evanko received the 2020 Chief Trailblazer Award from S&P Global Platts. This prestigious accolade recognizes exceptional leadership and innovation in the energy sector, with over 300 nominations this year. Judges evaluated Evanko's achievements since January 2019, highlighting her ability to lead amidst challenges and drive the company forward in clean energy. The award reflects her contributions to advancing Chart's position in the industry during a tumultuous year.
Chart Industries, Inc. (NASDAQ: GTLS) announced that its President and CEO, Jill Evanko, has been named the 2020 World LNG Executive of the Year. This prestigious recognition from the World LNG Summit honors individuals for significant contributions to the LNG industry's future. Evanko acknowledged the award as a testament to the entire Chart team’s dedication to advancing the company in the LNG sector. Additionally, Chart was a finalist for the World LNG Award for Outstanding Contribution to the Industry and Energy Transition, showcasing its prominent role in clean energy solutions amid global challenges, including the COVID-19 pandemic.
Chart Industries (GTLS) has successfully acquired BlueInGreen (BIG) for $20 million in cash, with a potential earn-out of $6 million. This acquisition enhances Chart's water treatment solutions by integrating BIG's advanced gas-dissolution technology, which reduces gas consumption by 20-40%. The collaboration aims to generate $20 million in revenue by 2022 with a 50% gross margin. Chart anticipates no significant changes to its Q4 2020 outlook while increasing its 2021 sales forecast to between $1.260 and $1.335 billion, alongside diluted adjusted EPS expectations of $3.10 to $3.45.
Chart Industries (GTLS) has acquired Microbulk cryogenic tank assets from IC Biomedical as of November 2, 2020. This acquisition enhances Chart's Distribution & Storage product line and includes a unique food processing tank. The transaction is strategically significant, enhancing revenue synergies at a mid-single digit EBITDA multiple, without altering previous financial guidance for 2020 and 2021. CEO Jill Evanko emphasized the importance of this acquisition in supporting customer needs and expanding their product offerings.
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