Chart receives new orders
Chart has received new hydrogen liquefier order and acquired Earthly Labs.
Chart Industries, Inc. has been awarded over $120 million of orders for four liquefaction projects, including hydrogen, with four different customers.
It received an order for a 15 tonnes/day hydrogen liquefier to be built in North America with a new hydrogen liquefaction customer. This is Chart’s fourth hydrogen/helium liquefaction order in 2021.
It also received an order for a 60k tonnes BioLNG liquefaction and associated station infrastructure for 20 BioLNG stations for its European customer, Verbio; Utility-scale LNG liquefaction plant in the Northeast US; and a Nitrogen Refrigeration Cycle Liquefaction System at an existing LNG peak shaving facility for use by a regulated US utility company.
Jill Evanko, CEO of Chart, said, “These orders give further support to our previously announced 2022 outlook.”
Recently, Chart Industries completed the acquisition of Earthly Labs, Inc. The purchase price for the 85% of Earthly Labs that Chart did not already own was $62 million, of which around 62% is being paid in cash and 38% is being paid in shares of common stock of Chart, par value $0.01.
Earthly Labs is the leading provider of small-scale carbon capture systems offering an affordable, small footprint technology platform called ‘CiCi’ to capture, recycle, reuse, track and sell CO2. Since its inception, Earthly Labs has included Chart cryogenic CO2 storage tanks, vaporisers, and regulators as a standard part of its offering.
