Chart and Kathairos Expand Partnership for Methane Emission Reduction Technology
ATLANTA, June 14, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, today announced the furthering of its partnership and contract with Calgary-based cleantech company, Kathairos, which already included Chart’s MicroBulk tanks to now include products such as Orca™ Delivery Systems. Kathairos has also agreed to extend their contract with Chart for a minimum of two more years.
This increase in the scope of our partnership was initiated due to the positive feedback from the market about our combined solution being effective and easy to operate and the resulting rapid adoption and scale rollout of industry leading companies.
To date, our combined solution has helped to mitigate 21.69 million standard cubic ft (SCF) of methane emissions and eliminated 20,132.55 metric tons of CO2 equivalent emissions from our customers’ operations.
“With our customers’ aggressive plans to eliminate methane venting from their wellsite operations, this agreement with Chart ensures Kathairos will have the capacity to meet oil and gas industry targets for methane reduction by deploying tens of thousands of our proprietary nitrogen systems throughout North America over the next few years,” said Dick Brown, Kathairos President and CEO.
“In anticipation of pending methane regulations, we expect there to be significant increase in demand for the Kathairos services and we wanted our companies closely aligned in order to meet and exceed the market’s needs as they look to decarbonize the oil & gas sector,” stated Jill Evanko, CEO of Chart. “Together, we will continue to collaborate to help our customers meet their ambitious methane elimination targets and meaningfully advance their net zero goals.”
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the energy and industrial gas markets. The company’s unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com
About Kathairos Solutions
At Kathairos, our name means 'clean air.' We are proud to champion imperative solutions that support today's evolving energy industry, and the people and producers working tirelessly toward a cleaner, greener barrel. Through our revolutionary liquid nitrogen-powered field technologies and world-class carbon accounting and reporting tools, we're on a mission to eliminate methane emissions from more than 400,000 remote well sites across Canada and the US. Learn more at kathairos.com
Chart Industries Investor Relations Contact:
John Walsh
VP, Investor Relations
1-770-721-8899
john.walsh@chartindustries.com
